(TPL) Texas Pacific Land - Overview
Sector: Energy | Industry: Oil & Gas E&P | Exchange: NYSE (USA) | Market Cap: 27.107m USD | Total Return: 11.4% in 12m
Avg Turnover: 153M
EPS Trend: 94.8%
Qual. Beats: 0
Rev. Trend: 96.9%
Qual. Beats: 0
Warnings
Beneish M-Score -0.58 > -1.5 - likely earnings manipulation
Tailwinds
No distinct edge detected
Texas Pacific Land Corporation (TPL) operates as a significant landowner and resource manager within the Permian Basin. The Land and Resource Management segment generates revenue through oil and gas royalties, surface land leases, and easements for infrastructure such as pipelines and power lines. This business model is characterized by low capital intensity, as the company collects royalties from production activities funded and executed by third-party operators.
The Water Services and Operations segment provides comprehensive water logistics, including sourcing, treatment, and disposal services for energy producers. In the Permian Basin, water management is a critical operational requirement, often involving the handling of several barrels of produced water for every barrel of oil extracted. TPL further leverages its acreage through the sale of construction materials like caliche and sand used in localized infrastructure development.
The company maintains a vast portfolio of nonparticipating perpetual oil and gas royalty interests across hundreds of thousands of acres. Investors looking to evaluate the long-term cash flow potential of these land assets may find additional insights on ValueRay. Founded in 1888, the corporation remains one of the largest private landowners in Texas, benefiting from the sustained drilling activity in the most prolific oil-producing region in the United States.
- Permian Basin drilling activity levels dictate royalty revenue and surface access fees
- Produced water volume growth drives water services and disposal infrastructure margins
- Crude oil price volatility impacts royalty income and operator capital expenditure budgets
- Regulatory changes regarding hydraulic fracturing and water disposal permits affect operational scalability
- Strategic land sales and easement agreements provide high-margin supplemental cash flow streams
| Net Income: 503.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.28 > 0.02 and ΔFCF/TA -6.10 > 1.0 |
| NWC/Revenue: 39.59% < 20% (prev 71.57%; Δ -31.98% < -1%) |
| CFO/TA 0.31 > 3% & CFO 551.2m > Net Income 503.6m |
| Net Debt (-231.7m) to EBITDA (692.0m): -0.33 < 3 |
| Current Ratio: 4.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (69.0m) vs 12m ago -0.01% < -2% |
| Gross Margin: 83.41% > 18% (prev 89.81%; Δ -6.41% > 0.5%) |
| Asset Turnover: 54.05% > 50% (prev 53.77%; Δ 0.28% > 0%) |
| Interest Coverage Ratio: 909.3 > 6 (EBIT TTM 627.4m / Interest Expense TTM 690k) |
| A: 0.19 (Total Current Assets 435.1m - Total Current Liabilities 102.9m) / Total Assets 1.75b |
| B: 0.96 (Retained Earnings 1.68b / Total Assets 1.75b) |
| C: 0.40 (EBIT TTM 627.4m / Avg Total Assets 1.55b) |
| D: 7.96 (Book Value of Equity 1.56b / Total Liabilities 195.5m) |
| Altman-Z'' = 15.45 = AAA |
| DSRI: 1.14 (Receivables 181.1m/138.3m, Revenue 839.0m/727.7m) |
| GMI: 1.08 (GM 89.81% / 83.41%) |
| AQI: 4.64 (AQ_t 0.65 / AQ_t-1 0.14) |
| SGI: 1.15 (Revenue 839.0m / 727.7m) |
| TATA: -0.03 (NI 503.6m - CFO 551.2m) / TA 1.75b) |
| Beneish M = -0.58 (Cap -4..+1) = D |
As of June 05, 2026, the stock is trading at USD 406.73 with a total of 345,195 shares traded.
Over the past week, the price has changed by +1.50%,
over one month by -5.89%,
over three months by -24.02% and
over the past year by +11.36%.
Texas Pacific Land has no consensus analysts rating.
| Analysts Target Price | 445 | 9.4% |
P/E Trailing = 54.0578
P/E Forward = 37.7358
P/S = 33.3838
P/B = 18.0018
P/EG = 7.3295
Revenue TTM = 839.0m USD
EBIT TTM = 627.4m USD
EBITDA TTM = 692.0m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 15.8m USD (from shortLongTermDebtTotal, last quarter) (leases 15.8m already included)
Net Debt = -231.7m USD (calculated: Debt 15.8m - CCE 247.6m)
Enterprise Value = 26.9b USD (27.1b + Debt 15.8m - CCE 247.6m)
Interest Coverage Ratio = 909.3 (Ebit TTM 627.4m / Interest Expense TTM 690k)
EV/FCF = 54.48x (Enterprise Value 26.9b / FCF TTM 493.3m)
FCF Yield = 1.84% (FCF TTM 493.3m / Enterprise Value 26.9b)
FCF Margin = 58.79% (FCF TTM 493.3m / Revenue TTM 839.0m)
Net Margin = 60.03% (Net Income TTM 503.6m / Revenue TTM 839.0m)
Gross Margin = 83.41% ((Revenue TTM 839.0m - Cost of Revenue TTM 139.2m) / Revenue TTM)
Gross Margin QoQ = 82.11% (prev 79.53%)
Tobins Q-Ratio = 15.34 (Enterprise Value 26.9b / Total Assets 1.75b)
Interest Expense / Debt = 4.35% (Interest Expense 690k / Debt 15.8m)
Taxrate = 21.25% (135.9m / 639.5m)
NOPAT = 494.1m (EBIT 627.4m * (1 - 21.25%))
Current Ratio = 4.23 (Total Current Assets 435.1m / Total Current Liabilities 102.9m)
Debt / Equity = 0.01 (Debt 15.8m / totalStockholderEquity, last quarter 1.56b)
Debt / EBITDA = -0.33 (Net Debt -231.7m / EBITDA 692.0m)
Debt / FCF = -0.47 (Net Debt -231.7m / FCF TTM 493.3m)
Total Stockholder Equity = 1.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 32.44% (Net Income 503.6m / Total Assets 1.75b)
RoE = 35.52% (Net Income TTM 503.6m / Total Stockholder Equity 1.42b)
RoCE = 38.06% (EBIT 627.4m / Capital Employed (Total Assets 1.75b - Current Liab 102.9m))
RoIC = 30.75% (NOPAT 494.1m / Invested Capital 1.61b)
WACC = 8.93% (E(27.1b)/V(27.1b) * Re(8.93%) + D(15.8m)/V(27.1b) * Rd(4.35%) * (1-Tc(0.21)))
Discount Rate = 8.93% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.78 | Cagr: -0.06%
[DCF] Terminal Value 74.29% ; FCFF base≈481.5m ; Y1≈509.0m ; Y5≈597.6m
[DCF] Fair Price = 124.7 (EV 8.37b - Net Debt -231.7m = Equity 8.60b / Shares 69.0m; r=8.93% [WACC]; 5y FCF grow 6.37% → 2.50% )
EPS Correlation: 94.82 | EPS CAGR: 8.12% | SUE: 0.08 | # QB: 0
Revenue Correlation: 96.89 | Revenue CAGR: 10.87% | SUE: -0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.26 | Chg30d=-9.42% | Revisions=-33% | Analysts=2
EPS next Quarter (2026-09-30): EPS=2.36 | Chg30d=-5.69% | Revisions=-33% | Analysts=2
EPS current Year (2026-12-31): EPS=9.10 | Chg30d=-4.83% | Revisions=-33% | GrowthEPS=+30.5% | GrowthRev=+24.7%
EPS next Year (2027-12-31): EPS=10.12 | Chg30d=-4.58% | Revisions=-33% | GrowthEPS=+11.2% | GrowthRev=+10.7%
[Analyst] Revisions Ratio: -33%