Overview Dividends

(TPL) Texas Pacific Land Trust - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US88262P1021

Land, Royalties, Water Services

Oil & Gas Exploration & Production
Market Cap in USD: 22,726m

IPO / Inception: 1987-12-31
Return 12m vs S&P 500: -31.2%

EPS (Earnings per Share)

EPS CAGR: -16.17%
EPS Trend: -81.0%

Last SUE: -0.40
Qual. Beats: 0

Revenue

Rev. CAGR: 8.97%
Rev. Trend: 71.7%

Last SUE: 0.82
Qual. Beats: 0

Dividends

Dividend Yield	0.70%
Yield on Cost 5y	2.96%
Yield CAGR 5y	-1.53%
Payout Consistency	83.4%
Payout Ratio	30.9%

Risk via 5d forecast
Volatility	813%
Value at Risk 5%th	-%
Relative Tail Risk	-20.24%

Reward TTM
Sharpe Ratio	0.57
Alpha	-43.70
CAGR/Max DD	0.06

Character TTM
Hurst Exponent	0.143
Beta	1.496
Beta Downside	1.611

Drawdowns 3y
Max DD	82.62%
Mean DD	28.53%
Median DD	29.01%

Description: TPL Texas Pacific Land Trust December 19, 2025

Texas Pacific Land Trust (NYSE: TPL) operates two core segments: Land & Resource Management, which holds surface acreage and non-participating perpetual royalty interests (NPRIs) across roughly 207,000 net royalty acres in the Permian Basin, and Water Services & Operations, which supplies water sourcing, produced-water treatment, infrastructure development, and disposal solutions to upstream operators in the same region.

Key data points as of the latest filing: the company’s 2023 cash flow from operations was about $1.1 billion, supporting a dividend yield that has hovered near 10%-one of the highest in the oil-and-gas sector. The Permian’s production growth (≈ 6% YoY in Q4 2023) and rising water-intensity of shale drilling are primary economic drivers that boost demand for TPL’s water-service contracts and royalty income. Additionally, TPL’s land-lease portfolio generates roughly $200 million in annual lease revenue from processing, storage, and compression facilities.

For a deeper, data-driven view of TPL’s valuation dynamics, consider exploring the analytics on ValueRay to see how its cash-flow profile stacks up against sector peers.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (476.4m TTM) > 0 and > 6% of Revenue (6% = 46.3m TTM)

FCFTA 0.34 (>2.0%) and ΔFCFTA -4.93pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 85.65% (prev 92.87%; Δ -7.22pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.37 (>3.0%) and CFO 558.8m > Net Income 476.4m (YES >=105%, WARN >=100%)

Net Debt (-515.3m) to EBITDA (643.6m) ratio: -0.80 <= 3.0 (WARN <= 3.5)

Current Ratio 9.75 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (23.0m) change vs 12m ago -0.01% (target <= -2.0% for YES)

Gross Margin 87.44% (prev 91.57%; Δ -4.13pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 57.20% (prev 58.41%; Δ -1.21pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -32.87 (EBITDA TTM 643.6m / Interest Expense TTM -18.0m) >= 6 (WARN >= 3)

Altman Z'' 19.14

(A) 0.43 = (Total Current Assets 737.2m - Total Current Liabilities 75.6m) / Total Assets 1.52b

(B) 0.99 = Retained Earnings (Balance) 1.51b / Total Assets 1.52b

warn (B) unusual magnitude: 0.99 — check mapping/units

(D) 9.64 = Book Value of Equity 1.51b / Total Liabilities 156.9m

Total Rating: 19.14 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 78.49

1. Piotroski 3.50pt

2. FCF Yield 2.32%

3. FCF Margin 66.64%

4. Debt/Equity 0.01

5. Debt/Ebitda -0.80

6. ROIC - WACC (= 25.48)%

7. RoE 38.14%

8. Rev. Trend 71.69%

9. EPS Trend -81.00%

What is the price of TPL shares?

As of December 23, 2025, the stock is trading at USD 908.40 with a total of 146,455 shares traded.
Over the past week, the price has changed by +8.19%, over one month by +3.81%, over three months by +3.78% and over the past year by -19.79%.

Is TPL a buy, sell or hold?

Texas Pacific Land Trust has no consensus analysts rating.

What are the forecasts/targets for the TPL price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	635	-30.1%
Analysts Target Price	635	-30.1%
ValueRay Target Price	911.3	0.3%

TPL Fundamental Data Overview December 19, 2025

Market Cap USD = 22.73b (22.73b USD * 1.0 USD.USD)
P/E Trailing = 47.7072
P/E Forward = 37.7358
P/S = 26.27
P/B = 13.7862
Beta = 0.954
Revenue TTM = 772.4m USD
EBIT TTM = 591.5m USD
EBITDA TTM = 643.6m USD
Long Term Debt = 16.5m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.16m USD (from shortTermDebt, last quarter)
Debt = 16.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -515.3m USD (from netDebt column, last quarter)
Enterprise Value = 22.21b USD (22.73b + Debt 16.5m - CCE 531.8m)
Interest Coverage Ratio = -32.87 (Ebit TTM 591.5m / Interest Expense TTM -18.0m)
FCF Yield = 2.32% (FCF TTM 514.7m / Enterprise Value 22.21b)
FCF Margin = 66.64% (FCF TTM 514.7m / Revenue TTM 772.4m)
Net Margin = 61.68% (Net Income TTM 476.4m / Revenue TTM 772.4m)
Gross Margin = 87.44% ((Revenue TTM 772.4m - Cost of Revenue TTM 97.0m) / Revenue TTM)
Gross Margin QoQ = 84.54% (prev 88.19%)
Tobins Q-Ratio = 14.57 (Enterprise Value 22.21b / Total Assets 1.52b)
Interest Expense / Debt = 53.26% (Interest Expense 8.79m / Debt 16.5m)
Taxrate = 21.87% (33.9m / 155.2m)
NOPAT = 462.2m (EBIT 591.5m * (1 - 21.87%))
Current Ratio = 9.75 (Total Current Assets 737.2m / Total Current Liabilities 75.6m)
Debt / Equity = 0.01 (Debt 16.5m / totalStockholderEquity, last quarter 1.37b)
Debt / EBITDA = -0.80 (Net Debt -515.3m / EBITDA 643.6m)
Debt / FCF = -1.00 (Net Debt -515.3m / FCF TTM 514.7m)
Total Stockholder Equity = 1.25b (last 4 quarters mean from totalStockholderEquity)
RoA = 31.24% (Net Income 476.4m / Total Assets 1.52b)
RoE = 38.14% (Net Income TTM 476.4m / Total Stockholder Equity 1.25b)
RoCE = 46.75% (EBIT 591.5m / Capital Employed (Equity 1.25b + L.T.Debt 16.5m))
RoIC = 37.01% (NOPAT 462.2m / Invested Capital 1.25b)
WACC = 11.52% (E(22.73b)/V(22.74b) * Re(11.53%) + (debt cost/tax rate unavailable))
Discount Rate = 11.53% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.05%
[DCF Debug] Terminal Value 68.08% ; FCFE base≈490.7m ; Y1≈530.1m ; Y5≈656.3m
Fair Price DCF = 293.5 (DCF Value 6.74b / Shares Outstanding 23.0m; 5y FCF grow 9.06% → 3.0% )
EPS Correlation: -81.00 | EPS CAGR: -16.17% | SUE: -0.40 | # QB: 0
Revenue Correlation: 71.69 | Revenue CAGR: 8.97% | SUE: 0.82 | # QB: 0
EPS next Quarter (2026-03-31): EPS=5.94 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=25.29 | Chg30d=N/A | Revisions Net=+0 | Growth EPS=+19.7% | Growth Revenue=+0.0%

Additional Sources for TPL Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle