Texas Pacific Land Corp (TPL)
Energy · Oil & Gas Exploration & Production · US stock · S&P 500 component
$333.67
▼ -10.64 (3.09%)
Fair valueFair
$317 −5.1% to fair value
$158fair band $269–$384$475
Day's range
$325.84 – $344.11
52-week range
$269.23 – $547.20
About Texas Pacific Land Corp
Texas Pacific Land owns a large area of land in West Texas, much of it in the Permian Basin, a major oil and gas producing region of the United States. It does not drill wells itself. Instead, oil and gas operators pay it for the right to use its land and for water supplied for drilling, while other customers pay for easements and surface use. The company also holds royalty interests in oil and gas produced from its acreage.
Income comes from oil and gas royalties, water sales and services, and easement and surface payments. Revenue for the last twelve months was $898 million, having grown at 6.1% a year across the last three years. The operating margin is 74.9%, and the business earns a profit of 37% on the capital invested in it. Shareholders receive a dividend with a yield of 1.0%. On the site's X-Ray Score it receives 48 out of 100.
Price chart
52-wk range $269.23 – $547.20Volume 320,237Daily, split-adjusted
Vitals
Market cap$23.0B
52-week range$269.23 – $547.20
Volume (last day)320,237
P/E (TTM)35.4
EBIT / EV yield2.9%
Free-cash-flow yield–
Dividend yield1.0%
Revenue (TTM)$898M
Net income (TTM)$541M
Operating margin74.9%
Return on capital36.9%
Debt incl. leasesData missing
Cash & securities$249M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$317middle half of models $298 – $389
Fair
−5.1% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $334
Undervalued < $269Fair $269 – $384Overvalued > $384
P/E multiple
$343
P/B multiple
$391
P/S multiple
$305
EV/EBITDA multiple
$298
EV/EBIT multiple
$331
EV/revenue multiple
$313
10-year DCF, EBITDA exit
$389
5-year DCF, EBITDA exit
$396
10-year DCF, revenue exit
$387
5-year DCF, revenue exit
$394
10-year DCF, growth exit
$200
5-year DCF, growth exit
$180
Dividend discount, multi-stage · not used
$17
Earnings power value
$188
Growth the price implies
17.8%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Energy peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
14/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield2.9%
Fair value vs price0.9×
Growth
Fair
68/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)6.1%
EPS growth (3y)-28.7%
Growth consistency100%
Profitability
Fair
70/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital36.9%
Operating margin74.9%
Financial health
Fair
62/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score4 / 9
Interest coverNo interest cost
Dividends
Weak
10/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.0%
Dividend growth-15.8%
Quarterly results: last 6 quarters
+12.5%
Mar '25
+8.8%
Jun '25
+17.0%
Sep '25
+13.9%
Dec '25
+20.8%
Mar '26
+31.2%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $246M, diluted EPS $2.23.
Compare with peers
EXE EXPAND ENERGY Corp67 EOG Eog Resources Inc66 EQT EQT Corp63 APA APA Corp62Other Oil & Gas Exploration & Production companies by X-Ray Score.
SWOT analysis: Texas Pacific Land Corp
Strengthsinside the company
- Return on invested capital is 36.9%, against a median of 11.4% for industry peers.
- Operating margin of 74.9% is well above the 24.4% median of industry peers, a sign of pricing power or lower costs.
- Operating profit covers interest 50x, so debt costs are a small drag.
Weaknessesinside the company
- Earnings per share have declined 28.7% a year over three years.
Opportunitiesvaluation and setting
- Revenue growth picked up to 13.1% last year from 6.1% a year over three years.
- Our Market Compass rates the backdrop for Energy as favourable.
Threatsvaluation and setting
- Trades at 42.5x earnings, 243% above the 12.4x median of industry peers, so the price already assumes better results.
- The price trend is down on the daily and weekly signals.
- Earnings in Oil & Gas Exploration & Production follow the industry cycle, so margins and profits can swing from year to year.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare TPL with peers and sector
Medians of 8 Oil & Gas Exploration & Production peers and of 19 Energy stocks in our universe.
Largest peers (X-Ray Score): COP 58, EOG 66, OXY 36, FANG 36, DVN 49, EQT 63.
| Metric | TPL | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 48 | 60 | 50 |
| Valuation | 14 | 73 | 60 |
| Growth | 68 | 51 | 52 |
| Profitability | 70 | 52 | 49 |
| Financial health | 62 | 52 | 48 |
| Dividends | 10 | 44 | 55 |
Sector leaders: highest X-Ray Score in Energy
TPL ranks #13 of 20 in Energy and #7 of 9 in Oil & Gas Exploration & Production by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for TPL
Each factor is rated by where TPL stands among the 20 Energy stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 9 Good · 0 Average · 9 Bad of 18
Growth: 2 · 0 · 1
Profitability: 4 · 0 · 0
Financial strength: 2 · 0 · 1
Valuation: 0 · 0 · 4
Cash flow: 1 · 0 · 2
Efficiency: 0 · 0 · 1
| Factor | TPL | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +6.1% | Good beats 82% | −5.7% | – | – |
| Revenue growth, last year | +13.1% | Good beats 71% | +3.9% | +13.1% | ≈ In line |
| EPS growth, 3 years a year | −28.7% | Bad beats 24% | −22.6% | – | – |
| Profitability | |||||
| Operating margin | 74.9% | Good beats 97% | 23.0% | 77.0% | ≈ In line |
| Net margin | 60.3% | Good beats 97% | 13.5% | 64.2% | ≈ In line |
| Return on invested capital | 36.9% | Good beats 97% | 12.3% | – | – |
| Return on equity | 32.4% | Good beats 88% | 15.2% | 40.1% | ▼ Worse |
| Financial strength | |||||
| Interest cover | 50.0x | Good beats 76% | 22.5x | – | – |
| Current ratio | 4.55 | Good beats 98% | 1.19 | 10.81 | ▼ Worse |
| Piotroski F-score | 4 / 9 | Bad beats 18% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 42.5x | Bad beats 3% | 17.4x | 41.2x | ≈ In line |
| Price / book | 13.8x | Bad beats 8% | 2.6x | 13.6x | ≈ In line |
| Price / sales | 25.7x | Bad beats 3% | 2.3x | 24.8x | ≈ In line |
| EV / EBITDA | 30.8x | Bad beats 3% | 9.4x | – | – |
| Cash flow | |||||
| Free cash flow margin | 67.2% | Good beats 97% | 13.2% | 66.2% | ≈ In line |
| Cash from operations / net income | 1.11 | Bad beats 3% | 1.95 | 1.03 | ≈ In line |
| Accruals (lower is better) | −3.3% | Bad beats 8% | −6.6% | – | – |
| Efficiency | |||||
| Days sales outstanding | 71 days | Bad beats 15% | 43 days | – | – |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 7 Good · ● 0 Average · ● 5 BadCash quality
Earnings backed by cashBad
Risk models
Altman Z''Good
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalGood
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 58/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $451M | $667M | $632M | $706M | $798M |
| Operating income | $362M | $562M | $486M | $539M | $592M |
| Net income | $270M | $446M | $406M | $454M | $481M |
| Operating cash flow | $265M | $447M | $418M | $491M | $546M |
| Operating margin | 80.4% | 84.3% | 77.0% | 76.4% | 74.2% |
| Free cash flow | $249M | $428M | – | – | – |
| Diluted EPS | $34.83 | $19.26 | $5.86 | $6.57 | $6.97 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
2 bullish · 2 neutral · 12 bearish
Weekly
Strongly bearish
1 bullish · 1 neutral · 10 bearish
Monthly
Neutral
3 bullish · 1 neutral · 4 bearish
Moving averages (daily)
| SMA 10 | 351.2 | Bearish |
| EMA 10 | 346.1 | Bearish |
| SMA 20 | 346.3 | Bearish |
| EMA 20 | 348.8 | Bearish |
| SMA 50 | 356.8 | Bearish |
| EMA 50 | 357.8 | Bearish |
| SMA 100 | 373.6 | Bearish |
| EMA 100 | 370.5 | Bearish |
| SMA 200 | 400.1 | Bearish |
| EMA 200 | 377.0 | Bearish |
Oscillators (daily)
| RSI (14) | 40.59 | Neutral |
| MACD (12, 26) | -3.60 | Bearish |
| Momentum (12) | -6.05 | Bearish |
| Stochastic %K (14) | 17.73 | Bullish |
| Williams %R (14) | -82.27 | Bullish |
| CCI (20) | -91.00 | Neutral |
Pivot points (classic, last session)
S3 306.7 | S2 316.3 | S1 325.0 | Pivot 334.5 | R1 343.2 | R2 352.8 | R3 361.5 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
3.40 USD
Yield on today's price
1.02%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.6000 | |
| 0.6000 | |
| 0.6000 | |
| 1.6000 | |
| 1.6000 | |
| 1.6000 | |
| 1.6000 | |
| 1.6000 | |
| 1.1700 | |
| 10.0000 | |
| 1.1700 | |
| 3.5000 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold TPL
| ETF | Share of the fund |
|---|---|
| IEO iShares U.S. Oil & Gas Exploration & P... | 4.77% |
| XOP SPDR S&P Oil & Gas Exploration & Produ... | 3.17% |
| GRNY Fundstrat Granny Shots US Large Cap | 2.35% |
| GUSH Direxion Daily S&P Oil & Gas Exp. & Pr... | 1.72% |
| XLE Energy Select Sector SPDR | 1.52% |
| COWG Pacer US Large Cap Cash Cows Growth Le... | 1.47% |
| IYE iShares U.S. Energy | 1.04% |
| ERX Direxion Daily Energy Bull 2X | 1.03% |
The eight funds with the largest weight in TPL among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
TPL stock splits
TPL has split its stock 3 times since 2007. The latest was a 3-for-1 split on 23 Dec 2025.
Full TPL stock split history →TPL SEC filings
8-KSEC EDGAR
Director or officer change
DEF 14ASEC EDGAR
Proxy statement
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Entered a material agreement; Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.