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Sales Analysis TPL
In the year ending in Dec 31,23, Texas Pacific Land Trust sales were sharply up 5.5% from $157.97 million last year to $166.66 million. We predict Texas Pacific Land Trust sales to go down 0.6% to around $165.65 million during the next 12 months. The share price of Texas Pacific Land Trust has a positive sensitivity to increases to sales with forecast sales alone decreasing the share price by 0.02%.
Texas Pacific Land Trust currently has 100 employees and with sales of $166.66 million this equates to sales of $1666.57 thousand per employee.
Profitability
For Dec 31,23 Cost of goods sold was sharply up 6.7% to $12.95 million from $12.14 million last year. This cost represented 7.77% of overall sales up from 7.68% last year and is expected to rise to 9.03% next year. We predict Cost of goods sold to move up 15.5% to around $14.96 million during the next 12 months.
Selling General and Administrative expenses were up 4.66% from $17.09 million last year to $17.89 million this year and we expect SGA to move up 3.7% to around $18.55 million during the next 12 months.
This meant gross income was $153.71 million making a gross profit margin of 92.23% of sales, which we expect to be 86.71% next year. The share price of Texas Pacific Land Trust has a positive sensitivity to increases to gross profit margin.
With 100 employees, the gross income is $1537.11 thousand per employee.
Earnings
EBIT was 80.32% of sales and for this year was $133.86 million, up 8.5% from $123.37 million last year and we expect EBIT to be $112.15 million next year.
Pre-tax income was 87.08% of sales and sharply increased by 7.56% from last year's $134.94 million to $145.13 million this year and we expect it to be $143.06 million next year. Texas Pacific Land Trust paid $32.02 million tax. Its effective tax rate was 22.06% from 21.76% last year and estimated as 19.61% next year.
Including discontinued income, after tax income was 67.87% of sales and has risen 7.14% from last year to $113.11 million and we expect it to be $110.95 million next year. Return on Equity was unchanged since last year at inf, and we expect it to be 110.95 million next year.