TPL Texas Pacific Land Corporation Common Stock
$391.00
Price · Jun 26, 2026
Fundamentals as of May 6, 2026
52W Range
$269–$547
44% of range
Analyst Rating
BUY
8 analysts
Price Target
$445
+14% upside
P/E (TTM)
41.2
ROE
35.0%
Net Profit Margin
60.3%
TPL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$391.00
Market Cap
$19.80B
P/E (TTM)
41.2
EPS (TTM)
$6.97
Revenue (TTM)
$798M
Div Yield
0.75%
ROE
35.0%
Debt/Equity
—
52W Range
$269 – $547
TPL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$798M
2018-12-31
→
2025-12-31
EPS
$6.97
2019-12-31
→
2025-12-31
Free Cash Flow
—
2020-12-31
→
2022-12-31
Margins
60.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
TPL
Peer Median
P/E (TTM)
41.2
16.1
P/S (TTM)
24.8
2.7
P/B
13.6
1.4
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
TPL
Peer Median
Operating Margin
74.2%
—
Net Profit Margin
60.3%
17.5%
ROA
33.5%
6.1%
ROE
35.0%
12.1%
ROIC
32.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
TPL
Peer Median
Current Ratio
4.4
0.9
Quick Ratio
2.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
TPL
Peer Median
Revenue YoY
13.1%
—
Revenue CAGR 3Y
6.2%
—
Revenue CAGR 5Y
21.4%
—
EPS YoY
6.1%
—
Net Income YoY
6.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
TPL
Peer Median
Payout Ratio
30.7%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.75%
Payout Ratio
30.7%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 1, 2026 | $0.6000 |
| March 2, 2026 | $0.6000 |
| Dec. 1, 2025 | $0.5333 |
| Sept. 2, 2025 | $0.5333 |
| June 2, 2025 | $0.5333 |
| March 3, 2025 | $0.5333 |
| Dec. 2, 2024 | $0.5333 |
| Sept. 3, 2024 | $0.3900 |
| July 1, 2024 | $3.3333 |
| June 3, 2024 | $0.3900 |
| Feb. 29, 2024 | $0.3889 |
| Nov. 30, 2023 | $0.3611 |
| Aug. 31, 2023 | $0.3611 |
| June 7, 2023 | $0.3611 |
| March 7, 2023 | $0.3611 |
| Dec. 7, 2022 | $0.3333 |
| Sept. 7, 2022 | $0.3333 |
| June 7, 2022 | $2.5556 |
| March 7, 2022 | $0.3333 |
| Dec. 7, 2021 | $0.3056 |
TPL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 2 25.0%
- Buy 4 50.0%
- Hold 1 12.5%
- Sell 0 0.0%
- Strong Sell 1 12.5%
12-Month Price Target
2 analysts · 2026-06-25
Median
$445.00
Now
$391.00
Low
$251.00
High
$639.00
Median target
$445.00
+13.8%
Mean target
$445.00
+13.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-5.2%
Next Report
Aug 04, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $2.07 | $2.04 | 0.03% |
| Dec. 31, 2025 | $1.80 | $1.75 | 0.05% |
| Sept. 30, 2025 | $1.76 | $1.94 | -0.19% |
| June 30, 2025 | $5.05 | $18.51 | -13.5% |
| March 31, 2025 | $5.24 | $17.84 | -12.6% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TPL | $19.80B | 41.2 | 13.1% | 60.3% | 35.0% | — |
| FANG | $42.78B | 26.2 | 35.8% | 11.1% | 4.5% | — |
| DVN | — | 8.8 | 7.8% | — | — | — |
| EQT | $33.45B | 16.2 | 63.9% | 23.6% | 9.2% | — |
| VG | — | 7.9 | 176.9% | 19.9% | 56.7% | — |
| EXE | $26.40B | 14.6 | 186.3% | 15.0% | 10.0% | — |
| PR | $10.55B | 11.0 | 1.3% | 18.5% | 9.6% | — |
| VNOM | — | -80.5 | 62.0% | -4.9% | -2.2% | — |
| OVV | $9.93B | 8.2 | -2.7% | 13.9% | 11.5% | — |
| COP | — | 14.7 | 7.7% | 13.6% | 12.3% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $798M | $706M | $632M | $667M | $451M | $303M | $490M | |
| SG&A Expense | $24M | $34M | $46M | $22M | $12M | $10M | $10M | |
| Operating Expenses | $206M | $167M | $146M | $105M | $89M | $85M | $91M | |
| Operating Income | $592M | $539M | $486M | $562M | $362M | $217M | $400M | |
| Other Non-op | $15.0K | $2M | $2M | $-22.0K | $433.0K | $2M | $3M | |
| Pretax Income | $610M | $579M | $518M | $569M | $363M | $220M | $402M | |
| Income Tax | $129M | $125M | $112M | $122M | $93M | $44M | $84M | |
| Net Income | $481M | $454M | $406M | $446M | $270M | $176M | $319M | |
| EPS (Basic) | $6.98 | $6.58 | $5.87 | $19.27 | $34.83 | $22.70 | $41.09 | |
| EPS (Diluted) | $6.97 | $6.57 | $5.86 | $19.26 | $34.83 | $22.70 | $41.09 | |
| Shares (Basic) | 68,949,240 | 68,958,591 | 69,132,915 | 23,165,871 | 7,752,027 | 7,756,156 | 7,756,437 | |
| Shares (Diluted) | 69,027,492 | 69,059,252 | 69,179,535 | 23,180,427 | 7,752,054 | 7,756,156 | 7,756,437 | |
| EBITDA | $655M | $564M | $501M | $578M | $379M | $232M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $145M | $370M | $725M | $511M | $428M | $281M | $304M | |
| Prepaid Expense | $5M | $5M | $3M | $7M | $3M | $1M | · | |
| Current Assets | $319M | $503M | $862M | $633M | $527M | $333M | · | |
| PP&E (Net) | $165M | $123M | $90M | $85M | $80M | $79M | $88M | |
| PP&E (Gross) | $231M | $178M | $147M | $135M | $118M | $104M | $100M | |
| Accum. Depreciation | $67M | $56M | $57M | $50M | $39M | $25M | $11M | |
| Intangibles | $33M | $35M | $21M | $0 | · | · | · | |
| Total Assets | $1.62B | $1.25B | $1.16B | $877M | $764M | $572M | $598M | |
| Accounts Payable | $40M | $27M | $23M | $23M | $18M | $13M | $19M | |
| Current Liabilities | $73M | $47M | $44M | $40M | $51M | $21M | · | |
| Capital Leases | $16M | $453.0K | $1M | $2M | $1M | $2M | · | |
| Deferred Tax | $54M | $47M | $42M | $41M | $39M | $39M | $41M | |
| Total Liabilities | $164M | $116M | $113M | $105M | $112M | $86M | $86M | |
| Common Stock | $691.0K | $231.0K | $78.0K | $78.0K | $78.0K | $0 | $0 | |
| Paid-in Capital | $10M | $20M | $15M | $8M | $28.0K | $0 | · | |
| Retained Earnings | $1.60B | $1.28B | $1.17B | $866M | $668M | $488M | · | |
| Treasury Stock | $151M | $169M | $145M | $104M | $15M | $0 | · | |
| AOCI | $4M | $4M | $2M | $3M | $-1M | $-3M | $-1M | |
| Stockholders' Equity | $1.46B | $1.13B | $1.04B | $773M | $652M | $485M | $512M | |
| Liabilities + Equity | $1.62B | $1.25B | $1.16B | $877M | $764M | $572M | $598M | |
| Shares Outstanding | 68,938,230 | 68,915,409 | 69,023,043 | 69,261,111 | 23,234,085 | 7,756,156 | 7,756,156 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $63M | $25M | $15M | $15M | $16M | $14M | $9M | |
| Stock-based Comp | $15M | $12M | $10M | $8M | $28.0K | $0 | $0 | |
| Deferred Tax | $7M | $5M | $1M | $1M | $-228.0K | $-2M | $26M | |
| Amort. of Intangibles | $2M | $2M | $400.0K | $0 | · | · | · | |
| Other Non-cash | $-20M | $-6M | $-14M | $-24M | $-21M | $19M | · | |
| Operating Cash Flow | $546M | $491M | $418M | $447M | $265M | $207M | $343M | |
| CapEx | · | · | · | $19M | $16M | $5M | $32M | |
| Investing Cash Flow | $-596M | $-472M | $-60M | $-21M | $-15M | $-26M | $-112M | |
| Stock Repurchased | $8M | $29M | $43M | $88M | $20M | $0 | $4M | |
| Net Stock Activity | $-8M | $-29M | $-43M | $-88M | · | $0 | · | |
| Dividends Paid | $148M | $347M | $100M | $247M | $85M | $202M | $47M | |
| Financing Cash Flow | $-176M | $-378M | $-145M | $-337M | $-105M | $-202M | $-51M | |
| Net Change in Cash | $-226M | $-359M | $213M | $89M | $145M | $-21M | $180M | |
| Taxes Paid | $127M | $121M | $104M | $152M | $68M | $47M | $44M | |
| Free Cash Flow | · | · | · | $428M | $249M | $202M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 74.2% | 76.4% | 77.0% | 84.2% | 80.4% | 71.8% | · | |
| Net Margin | 60.3% | 64.3% | 64.2% | 66.9% | 59.9% | 58.2% | · | |
| Pretax Margin | 76.5% | 82.0% | 82.0% | 85.2% | 80.5% | 72.6% | · | |
| EBITDA Margin | 82.0% | 80.0% | 79.3% | 86.6% | 84.0% | 76.6% | · | |
| ROA | 33.5% | 37.8% | 39.9% | 54.4% | 40.4% | 30.1% | · | |
| ROE | 35.0% | 41.6% | 40.4% | 59.8% | 43.1% | 35.1% | · | |
| ROIC | 32.0% | 37.3% | 36.5% | 57.1% | 41.4% | 35.9% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.4 | 10.8 | 19.4 | 16.0 | 10.3 | · | · | |
| Quick Ratio | 2.0 | 7.9 | 16.3 | 12.9 | 8.4 | · | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.6 | 0.8 | 0.7 | 0.5 | · |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 13.1% | 11.8% | -5.4% | 48.0% | 49.0% | · | · | |
| Revenue CAGR 3Y | 6.2% | 16.1% | 27.8% | · | · | · | · | |
| Revenue CAGR 5Y | 21.4% | · | · | · | · | · | · | |
| EPS YoY | 6.1% | 12.1% | -69.6% | -44.7% | 53.4% | · | · | |
| EPS CAGR 3Y | -28.7% | -42.6% | -36.3% | · | · | · | · | |
| EPS CAGR 5Y | -21.0% | · | · | · | · | · | · | |
| Net Income YoY | 6.0% | 11.9% | -9.1% | 65.3% | 53.4% | · | · | |
| Net Income CAGR 3Y | 2.5% | 18.9% | 32.1% | · | · | · | · | |
| Net Income CAGR 5Y | 22.3% | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -6.0% | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $798M | $706M | $632M | $667M | $451M | $303M | · | |
| Net Income TTM | $481M | $454M | $406M | $446M | $270M | $176M | · | |
| Market Cap | $19.80B | $8.47B | $1.34B | $2.00B | $1.07B | $627M | · | |
| P/E | 41.2 | 56.1 | 29.8 | 13.5 | 4.0 | 3.6 | · | |
| P/S | 24.8 | 12.0 | 2.1 | 3.0 | 2.4 | 2.1 | · | |
| P/B | 13.6 | 7.5 | 1.3 | 2.6 | 1.6 | 1.3 | · | |
| P / Tangible Book | 13.9 | 7.7 | 1.3 | 2.6 | 1.6 | 1.3 | · | |
| P / Cash Flow | 36.3 | 17.3 | 3.2 | 4.5 | 4.1 | 3.0 | · | |
| P / FCF | · | · | · | 4.7 | 4.3 | 3.1 | · | |
| Dividend Yield | 0.75% | 4.1% | 7.5% | 12.3% | 7.9% | 32.2% | · | |
| Earnings Yield | 2.4% | 1.8% | 3.4% | 7.4% | 25.1% | 28.1% | · | |
| Payout Ratio | 30.7% | 76.5% | 24.6% | 55.4% | 31.6% | 114.5% | · | |
| Annual Payout | $148M | $347M | $100M | $247M | $85M | $202M | · |
Income Statement 13
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $237M | $212M | $203M | $188M | $196M | $186M | $174M | $172M | $174M | $167M | $158M | $161M | $146M | $153M | $191M | $176M | |
| SG&A Expense | $9M | $6M | $6M | $6M | $6M | $7M | $13M | $6M | $9M | $36M | $4M | $3M | $4M | $12M | $3M | $4M | |
| Operating Expenses | $54M | $62M | $54M | $44M | $46M | $43M | $46M | $39M | $38M | $33M | $31M | $40M | $41M | $28M | $29M | $25M | |
| Operating Income | $182M | $149M | $149M | $144M | $150M | $143M | $127M | $133M | $136M | $134M | $127M | $120M | $105M | $124M | $162M | $152M | |
| Other Non-op | $2M | $-4M | $-10.0K | $0 | $4M | $-10M | $30.0K | $2M | $10M | $2M | $129.0K | $0 | $3.0K | $-3M | $2M | $630.0K | |
| Pretax Income | $184M | $152M | $155M | $149M | $154M | $151M | $135M | $146M | $146M | $145M | $135M | $127M | $110M | $128M | $164M | $152M | |
| Income Tax | $41M | $28M | $34M | $33M | $34M | $33M | $29M | $32M | $32M | $32M | $29M | $27M | $24M | $28M | $34M | $33M | |
| Net Income | $143M | $123M | $121M | $116M | $121M | $118M | $107M | $115M | $114M | $113M | $106M | $100M | $87M | $100M | $130M | $119M | |
| EPS (Basic) | $2.07 | $-8.59 | $5.27 | $5.05 | $1.75 | $-8.02 | $4.64 | $4.99 | $4.97 | $-6.81 | $4.58 | $4.35 | $3.75 | $-25.58 | $16.83 | $15.37 | |
| EPS (Diluted) | $2.07 | $-8.59 | $5.27 | $5.05 | $1.75 | $-8.01 | $4.63 | $4.98 | $4.97 | $-6.82 | $4.58 | $4.35 | $3.75 | $-25.57 | $16.82 | $15.37 | |
| Shares (Basic) | 68,959,013 | -3,664 | 22,984,883 | 22,987,326 | 68,942,085 | -12,162 | 22,979,781 | 22,987,971 | 23,003,001 | -29,885 | 23,026,563 | 23,056,986 | 23,079,251 | -24,020 | 7,714,796 | 7,733,730 | |
| Shares (Diluted) | 69,009,942 | -2,193 | 23,010,258 | 23,013,580 | 69,017,541 | 13,041 | 23,012,169 | 23,013,793 | 23,020,249 | -33,832 | 23,045,323 | 23,072,851 | 23,095,193 | -19,616 | 7,720,221 | 7,737,112 | |
| EBITDA | $196M | · | $164M | $157M | $162M | · | $133M | $137M | $140M | · | $131M | $124M | $108M | · | $166M | $156M |
Balance Sheet 21
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $248M | $145M | $532M | $544M | $460M | $370M | $534M | $895M | $837M | · | $654M | $609M | $591M | · | $447M | $390M | |
| Prepaid Expense | $6M | $5M | $78M | $9M | $5M | $5M | $48M | $4M | $5M | · | $5M | $5M | $8M | · | $3M | $2M | |
| Current Assets | $435M | $319M | $737M | $668M | $607M | $503M | $709M | $1.02B | $964M | · | $791M | $738M | $711M | · | $589M | $524M | |
| PP&E (Net) | $167M | $165M | $138M | $128M | $128M | $123M | $119M | $96M | $92M | · | $87M | $84M | $86M | · | $82M | $83M | |
| PP&E (Gross) | $238M | $231M | $206M | $192M | $188M | $178M | $186M | $159M | $152M | · | $146M | $141M | $139M | · | $130M | $128M | |
| Accum. Depreciation | $72M | $67M | $68M | $64M | $60M | $56M | $67M | $63M | $60M | · | $59M | $56M | $53M | · | $48M | $45M | |
| Intangibles | $32M | $33M | $33M | $34M | $35M | $35M | $36M | $20M | $21M | · | $21M | · | · | · | · | · | |
| Total Assets | $1.75B | $1.62B | $1.52B | $1.40B | $1.35B | $1.25B | $1.18B | $1.32B | $1.26B | · | $1.08B | $1.00B | $955M | · | $829M | $765M | |
| Accounts Payable | $41M | $40M | $39M | $27M | $25M | $27M | $41M | $32M | $23M | · | $29M | $27M | $27M | · | $31M | $29M | |
| Current Liabilities | $103M | $73M | $68M | $45M | $78M | $47M | $57M | $44M | $71M | · | $47M | $45M | $61M | · | $44M | $57M | |
| Capital Leases | $16M | $16M | $17M | · | · | $453.0K | · | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $58M | $54M | $53M | $49M | $48M | $47M | $45M | $43M | $42M | · | $40M | $40M | $41M | · | $38M | $38M | |
| Total Liabilities | $196M | $164M | $157M | $116M | $147M | $116M | $123M | $109M | $137M | · | $115M | $114M | $126M | · | $108M | $119M | |
| Common Stock | $691.0K | $691.0K | $231.0K | $231.0K | $231.0K | $231.0K | $231.0K | $231.0K | $231.0K | · | $78.0K | $78.0K | $78.0K | · | $78.0K | $78.0K | |
| Paid-in Capital | $3M | $10M | $7M | $5M | $2M | $20M | $16M | $16M | $13M | · | $12M | $11M | $8M | · | $5M | $3M | |
| Retained Earnings | $1.68B | $1.60B | $1.51B | $1.42B | $1.35B | $1.28B | $1.20B | $1.35B | $1.26B | · | $1.08B | $1.00B | $928M | · | $790M | $683M | |
| Treasury Stock | $133M | $151M | $151M | $145M | $145M | $169M | $162M | $158M | $152M | · | $134M | $129M | $109M | · | $73M | $40M | |
| AOCI | $4M | $4M | $3M | $4M | $4M | $4M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $-983.0K | $-991.0K | |
| Stockholders' Equity | $1.56B | $1.46B | $1.37B | $1.29B | $1.21B | $1.13B | $1.05B | $1.21B | $1.12B | $1.04B | $965M | $888M | $829M | $773M | $721M | $645M | |
| Liabilities + Equity | $1.75B | $1.62B | $1.52B | $1.40B | $1.35B | $1.25B | $1.18B | $1.32B | $1.26B | · | $1.08B | $1.00B | $955M | · | $829M | $765M | |
| Shares Outstanding | 68,974,187 | 68,938,230 | 22,979,410 | 22,987,326 | 22,987,245 | 68,915,409 | 22,977,125 | 22,983,392 | 22,993,479 | 69,023,043 | 7,675,994 | 7,679,145 | 7,693,320 | 23,087,037 | 7,708,845 | 7,727,916 |
Cash Flow 14
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $14M | $22M | $15M | $14M | $12M | $11M | $6M | $4M | $4M | $4M | $4M | $4M | $3M | $3M | $4M | $4M | |
| Stock-based Comp | $5M | $4M | $3M | $3M | $4M | $4M | $3M | $3M | $3M | $2M | $3M | $3M | $2M | $3M | $2M | $2M | |
| Amort. of Intangibles | $600.0K | $500.0K | $600.0K | $600.0K | $600.0K | $500.0K | $400.0K | $300.0K | $300.0K | $300.0K | $100.0K | · | · | · | · | · | |
| Other Non-cash | $0 | · | · | · | $20M | · | · | · | $26M | · | · | · | $22M | · | · | · | |
| Operating Cash Flow | $162M | $114M | $155M | $121M | $157M | $127M | $119M | $98M | $147M | $111M | $108M | $84M | $115M | $133M | $119M | $88M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | $5M | $1M | $4M | · | $2M | $7M | |
| Investing Cash Flow | $-8M | $-458M | $-121M | $-4M | $-13M | $-246M | $-216M | $-7M | $-2M | $-4M | $-28M | $-26M | $-2M | $-7M | $-6M | $-3M | |
| Stock Repurchased | $0 | $0 | $8M | $0 | $100.0K | $6M | $6M | $6M | $10M | $10M | $6M | $20M | $7M | $30M | $33M | $24M | |
| Net Stock Activity | $0 | · | · | · | $-100.0K | · | · | · | $-10M | · | · | · | $-7M | · | · | · | |
| Dividends Paid | $42M | $37M | $37M | $37M | $37M | $37M | $257M | $27M | $27M | $25M | $25M | $25M | $25M | $23M | $23M | $178M | |
| Financing Cash Flow | $-51M | $-42M | $-46M | $-37M | $-52M | $-43M | $-263M | $-33M | $-38M | $-36M | $-31M | $-45M | $-33M | $-55M | $-56M | $-202M | |
| Net Change in Cash | $103M | $-386M | $-12M | $80M | $92M | $-163M | $-361M | $58M | $107M | $71M | $48M | $14M | $80M | $71M | $57M | $-118M | |
| Taxes Paid | $3.0K | $37M | $24M | $65M | $0 | $24M | $30M | $67M | $0 | $29M | $31M | $44M | $0 | $36M | $48M | $61M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | $111M | · | · | · |
Profitability 7
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 77.0% | · | 73.4% | 76.6% | 76.6% | · | 73.4% | 77.3% | 78.1% | · | 80.4% | 74.9% | 71.7% | · | 84.8% | 86.1% | |
| Net Margin | 60.3% | · | 59.7% | 61.9% | 61.6% | · | 61.4% | 66.5% | 65.7% | · | 66.8% | 62.5% | 59.2% | · | 67.9% | 67.5% | |
| Pretax Margin | 77.5% | · | 76.4% | 79.4% | 78.8% | · | 78.0% | 85.0% | 83.8% | · | 85.4% | 79.2% | 75.4% | · | 85.8% | 86.4% | |
| EBITDA Margin | 82.9% | · | 80.8% | 84.0% | 82.7% | · | 76.7% | 79.7% | 80.3% | · | 82.6% | 77.3% | 74.0% | · | 86.9% | 88.4% | |
| ROA | 9.2% | · | 9.0% | 8.5% | 9.2% | · | 9.4% | 9.9% | 10.3% | · | 11.1% | 11.4% | 9.6% | · | 17.0% | 17.0% | |
| ROE | 10.3% | · | 10.0% | 9.3% | 10.4% | · | 10.6% | 10.9% | 11.7% | · | 12.5% | 13.1% | 11.1% | · | 19.6% | 19.9% | |
| ROIC | 9.1% | · | 8.5% | 8.7% | 9.7% | · | 9.5% | 8.6% | 9.5% | · | 10.3% | 10.7% | 9.9% | · | 17.8% | 18.4% |
Liquidity & Solvency 2
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.2 | · | 10.9 | 14.8 | 7.8 | · | 12.4 | 23.0 | 13.6 | · | 16.7 | 16.4 | 11.6 | · | 13.5 | 9.2 | |
| Quick Ratio | 2.4 | · | 7.8 | 12.1 | 5.9 | · | 9.3 | 20.2 | 11.8 | · | 13.8 | 13.6 | 9.7 | · | 10.2 | 6.8 |
Efficiency 1
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.3 |
Valuation (TTM) 11
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $823M | · | $760M | $729M | $716M | · | $678M | $665M | $639M | · | $656M | $674M | $661M | · | $638M | $543M | |
| Net Income TTM | $501M | · | $465M | $458M | $456M | · | $441M | $435M | $407M | · | $422M | $436M | $433M | · | $430M | $358M | |
| Market Cap | $32.73B | · | $7.15B | $8.09B | $10.15B | · | $6.78B | $5.63B | $4.43B | · | $1.56B | $1.12B | $1.45B | · | $1.52B | $1.28B | |
| P/E | 33.6 | · | 15.4 | 17.7 | 22.3 | · | 15.4 | 13.0 | 10.9 | · | 6.9 | 3.6 | 3.9 | · | 3.5 | 3.6 | |
| P/S | 39.8 | · | 9.4 | 11.1 | 14.2 | · | 10.0 | 8.5 | 6.9 | · | 2.4 | 1.7 | 2.2 | · | 2.4 | 2.4 | |
| P/B | 21.0 | · | 5.2 | 6.3 | 8.4 | · | 6.4 | 4.7 | 4.0 | · | 1.6 | 1.3 | 1.8 | · | 2.1 | 2.0 | |
| P / Tangible Book | 21.5 | · | 5.4 | 6.5 | 8.7 | · | 6.7 | 4.7 | 4.0 | · | 1.6 | 1.3 | 1.8 | · | 2.1 | 2.0 | |
| P / Cash Flow | 202.0 | · | · | · | 64.8 | · | · | · | 30.1 | · | · | · | 12.7 | · | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | · | · | 13.1 | · | · | · | |
| Earnings Yield | 3.0% | · | 6.5% | 5.7% | 4.5% | · | 6.5% | 7.7% | 9.2% | · | 14.6% | 27.5% | 25.7% | · | 28.2% | 27.9% | |
| Payout Ratio | 29.2% | · | · | · | 31.0% | · | · | · | 23.5% | · | · | · | 28.9% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $798M | $706M | $632M | $667M | $451M |
| Operating Margin % | 74.2% | 76.4% | 77.0% | 84.2% | 80.4% |
| Net Income | $481M | $454M | $406M | $446M | $270M |
| Diluted EPS | $6.97 | $6.57 | $5.86 | $19.26 | $34.83 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 4.4 | 10.8 | 19.4 | 16.0 | 10.3 |
| Quick Ratio | 2.0 | 7.9 | 16.3 | 12.9 | 8.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | — | $428M | $249M |
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