Texas Pacific Land Corporation — Earnings Quality Grade C
TPL · Energy
Some red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 75 days, change +10 days YoY
AR growth 30.2% exceeds revenue growth 13.1%
Revenue 13.1%, CFFO 11.3%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 20.8% vs revenue 13.1%. Normal
SG&A/Gross Profit = 12.0%, excellent (<30%)
Gross margin 85.5%, change -4.4pp. Stable
Cash Flow Quality
CFFO/NI = 1.13. Profits backed by cash
FCF < 50% of Net Income for 2 years
Accruals ratio = -4.0%. Low accruals
Cash $0.1B covers debt $0.0B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 2% of equity. Manageable
Debt/EBITDA = 0.0x. Healthy
Other assets grew 134.0% vs revenue 13.1%
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change -7% YoY. Normal
Manipulation Score
M-Score = -2.26 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10