Texas Pacific Land returns on capital

Annual and trailing 12-month returns on invested capital, equity and assets.

WACC assumption

Default 7.7% · US nonfinancial market · generic proxy proxy

ROIC

% · Annual / TTM

—

ROCE

% · Annual / TTM

43.04%

ROIIC

% · Annual / TTM

—

ROE

% · Annual / TTM

36.57%

ROA

% · Annual / TTM

33.17%

ROIC − WACC

Percentage points · Scenario

—

Quarterly data

Texas Pacific Land returns history. Each metric has its own unit. A dash means inputs are missing or the calculation is undefined.
Fiscal period	Ended	ROIC%	ROCE%	ROIIC%	ROE%	ROA%	ROIC − WACCPercentage points
FY 2026 Q2	Jun 30, 2026	—	43.04%	—	36.57%	33.17%	—
FY 2026 Q1	Mar 31, 2026	—	42.71%	—	36.47%	32.44%	—
FY 2025 Q4	Dec 31, 2025	44.98%	43.03%	8.02%	37.15%	33.53%	37.3 pp
FY 2025 Q3	Sep 30, 2025	—	45.47%	—	39.37%	35.28%	—
FY 2025 Q2	Jun 30, 2025	—	42.85%	—	37.01%	33.95%	—
FY 2025 Q1	Mar 31, 2025	—	44.91%	—	39.52%	35.23%	—
FY 2024 Q4	Dec 31, 2024	78.26%	46.61%	9.42%	41.73%	37.76%	70.6 pp
FY 2024 Q3	Sep 30, 2024	—	49.34%	—	44.5%	39.8%	—
FY 2024 Q2	Jun 30, 2024	140.51%	47.58%	36.6%	42.76%	38.64%	132.8 pp
FY 2024 Q1	Mar 31, 2024	154.73%	49.67%	-43.68%	44.43%	39.15%	147 pp
FY 2023 Q4	Dec 31, 2023	131.34%	49.86%	-107.68%	44.67%	39.89%	123.6 pp
FY 2023 Q3	Sep 30, 2023	127.64%	52.43%	-216.65%	46.54%	41.11%	119.9 pp
FY 2023 Q2	Jun 30, 2023	150.73%	61.48%	-16.49%	54.35%	47.17%	143 pp
FY 2023 Q1	Mar 31, 2023	185.52%	64.5%	454.16%	55.88%	48.02%	177.8 pp
FY 2022 Q4	Dec 31, 2022	181.75%	72.51%	445.02%	62.66%	54.38%	174.1 pp
FY 2022 Q3	Sep 30, 2022	—	77.68%	—	64.39%	55.84%	—
FY 2022 Q2	Jun 30, 2022	—	76.55%	—	63.68%	54.3%	—
FY 2022 Q1	Mar 31, 2022	—	62.03%	—	51.19%	43.23%	—
FY 2021 Q4	Dec 31, 2021	—	—	—	—	—	—
FY 2021 Q3	Sep 30, 2021	—	—	—	—	—	—
FY 2021 Q2	Jun 30, 2021	—	—	—	—	—	—
FY 2021 Q1	Mar 31, 2021	—	—	—	—	—	—

Sources and calculations

Financial inputs from company filings. Last checked Oct 19, 2026. A dash means missing inputs or an undefined calculation.

Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.

Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.

Market prices: Yahoo Finance · TPL, USD. Latest completed close Oct 26, 2026. Price data retrieved Oct 27, 2026.

ROIC: NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
ROCE: Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
ROIIC: Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
ROE: Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
ROA: Net income / average total assets × 100, using period end and one year earlier.
ROIC − WACC: ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.