• Texas Pacific Land average return on tangible equity for 2023 was 50.15, a 13.76% decline from 2022.
• Texas Pacific Land average return on tangible equity for 2022 was 58.15, a 42.73% decline from 2021.
• Texas Pacific Land average return on tangible equity for 2021 was 40.74, a 7.58% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.