Texas Pacific Land Trust (TPL)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — |
| Total assets | US$ in thousands | 1,156,400 | 877,427 | 764,064 | 571,635 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $1,156,400K
= 0.00
The debt-to-assets ratio for Texas Pacific Land Trust has consistently been at 0.00 for the past four years, including as of December 31, 2023. This indicates that the company has had no debt relative to its total assets during this period. A debt-to-assets ratio of 0.00 signifies that the company relies solely on equity financing to fund its operations and investments, without having to resort to borrowing. This may suggest a strong financial position and a low level of financial risk for Texas Pacific Land Trust, as it does not have debt obligations that could potentially strain its cash flow or lead to solvency issues.