Texas Pacific Land (TPL) Operating Margin (2020 - 2026)
Texas Pacific Land (TPL) recorded Operating Margin of 77.96% in Q2 2026, up 1.31 percentage points from 76.65% a year earlier and up 0.96 percentage points from the prior quarter.
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Analysis
Texas Pacific Land (TPL) Operating Margin (2020 - 2026) Analysis & Trends
On a TTM basis, Texas Pacific Land's Operating Margin came in at 74.92% as of Jun 30, 2026, down 0.96 percentage points year-over-year; for FY2025, it came in at 74.19%, down 2.20 percentage points from FY2024.
- Annual Operating Margin has declined for three straight years, though with a five-year change of +2.38 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 76.38% in FY2024 (-0.57 pp), 76.96% in FY2023 (-7.29 pp), 84.25% in FY2022 (+3.89 pp) and 80.36% in FY2021 (+8.55 pp).
- The Q2 2026 figure is the highest quarterly Operating Margin since Q1 2024.
- On a year-over-year basis, Operating Margin rose in three of the last eight quarters, with an average year-over-year change of -2.15 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 11.77 percentage points in Q2 2022, against a drop of 12.67 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 76.99% (Q1 2026), 70.54% (Q4 2025) and 73.41% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Texas Pacific Land | 22.67 Bn | 21.49 Bn | - | 77.96% |
| 2 | Eason Technology | 6.61 Bn | 6.61 Bn | - | - |
| 3 | LandBridge | 6.19 Bn | 6.54 Bn | 65.71 Mn | 66.07% |
| 4 | Millrose Properties | 4.09 Bn | 4.09 Bn | - | 85.16% |
| 5 | St Joe | 3.77 Bn | 3.27 Bn | 73.42 Mn | 34.49% |
| 6 | Vesta Real Estate Corporation, S.A.B. de C.V | 2.87 Bn | 2.87 Bn | - | 91.08% |
| 7 | Opendoor Technologies | 2.30 Bn | -1.52 Bn | 86.00 Mn | -16.31% |
| 8 | Forestar | 1.33 Bn | -18.53 Mn | 84.10 Mn | 11.25% |
| 9 | Five Point Holdings | 699.67 Mn | 728.44 Mn | -23.72 Mn | -325.18% |
| 10 | Tejon Ranch | 441.80 Mn | 376.78 Mn | - | 2.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 77.96% |
| Mar 31, 2026 | 76.99% |
| Dec 31, 2025 | 70.54% |
| Sep 30, 2025 | 73.41% |
| Jun 30, 2025 | 76.65% |
| Mar 31, 2025 | 76.57% |
| Dec 31, 2024 | 76.73% |
| Sep 30, 2024 | 73.36% |
| Jun 30, 2024 | 77.30% |
| Mar 31, 2024 | 78.12% |
| Dec 31, 2023 | 80.32% |
| Sep 30, 2023 | 80.37% |
| Jun 30, 2023 | 74.89% |
| Mar 31, 2023 | 71.71% |
| Dec 31, 2022 | 81.35% |
| Sep 30, 2022 | 84.80% |
| Jun 30, 2022 | 86.07% |
| Mar 31, 2022 | 84.37% |
| Dec 31, 2021 | 85.52% |
| Sep 30, 2021 | 83.46% |
API Access
Texas Pacific Land Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=TPL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "TPL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=TPL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();