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Texas Pacific Land vs North European Oil Royalty Trust: TPL and NRT compared
Texas Pacific Land is the larger company: $273M of revenue in its latest quarter (Q3 2026) against $2.7M for North European Oil Royalty Trust (Q3 FY26). Texas Pacific Land is growing faster (+35% against +0.6% a year earlier). North European Oil Royalty Trust is more profitable, with an operating margin of 93.1% against 76.0%.
Where the money goes: TPL and NRT
Texas Pacific Land (TPL) · Q3 2026
Texas Pacific Land, Q3 2026: revenue $273M (+35% year over year), operating margin 76.0%, net earnings $167M, operating cash flow $192M. The chart follows the revenue to costs, profit and cash.
North European Oil Royalty Trust (NRT) · Q3 FY26
North European Oil Royalty Trust, Q3 FY26: revenue $2.7M (+0.6% year over year), operating margin 93.1%, net earnings $2.5M. The chart follows the revenue to costs, profit and cash.
| Texas Pacific Land (TPL) | North European Oil Royalty Trust (NRT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 FY26 |
| Revenue | $273M | $2.7M |
| Revenue growth, Y/Y | +35% | +0.6% |
| Operating margin | 76.0% | 93.1% |
| Net earnings | $167M | $2.5M |
| Net margin | 61.2% | 93.1% |
| Operating cash flow | $192M | — |
| Free cash flow | $178M | — |
| Market value | $24.2B | — |
| P/E | 70.3× | — |
| Analysts’ mean target | $443.00 | — |
Where the revenue comes from
Texas Pacific Land
- Oil and gas royalties: $167M (61%)
- Produced water royalties: $41.4M (15%)
- Easements and other surface-related income: $36.2M (13%)
- Water sales: $28.4M (10%)
Questions
Which is bigger, Texas Pacific Land or North European Oil Royalty Trust?
Texas Pacific Land is the larger company: $273M of revenue in its latest quarter (Q3 2026) against $2.7M for North European Oil Royalty Trust (Q3 FY26).
Is Texas Pacific Land or North European Oil Royalty Trust growing faster?
Texas Pacific Land is growing faster (+35% against +0.6% a year earlier).
Which is more profitable, Texas Pacific Land or North European Oil Royalty Trust?
North European Oil Royalty Trust is more profitable, with an operating margin of 93.1% against 76.0%.
More: Texas Pacific Land earnings · how Texas Pacific Land makes money · North European Oil Royalty Trust earnings · how North European Oil Royalty Trust makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Sep 8, 2026). Fiscal quarters can end on different dates. Not investment advice.