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Texas Pacific Land Corp TPL

NYSE · stock · Oil Royalty Traders · website · IPO 1980-03-17 · LEI

Texas Pacific Land Corp statistics & valuation

Market cap$27.3B
P / E56.7×
P / S34.2×
P / B18.7×
Dividend yield0.54%
Net margin60.3%
Return on equity33.0%
Return on capital38.2%
Graham number -83.2%$57.57

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($57.57); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
65.00% 58.20% 59.90% 66.90% 64.20% 64.30% 60.30% 2019202020212022202320242025
Gross margin (%)
2019202020212022202320242025
Operating margin (%)
81.50% 71.80% 80.40% 84.30% 77.00% 76.40% 74.20% 2019202020212022202320242025
Return on equity (%)
62.20% 36.30% 41.40% 57.80% 38.90% 40.10% 33.00% 2019202020212022202320242025
Shares outstanding
69.8M 69.8M 69.8M 69.5M 69.2M 69.1M 69.0M 2019202020212022202320242025
Net debt ($)
2019202020212022202320242025
Share buybacks ($)
2019202020212022202320242025
Return on assets (%)
53.30% 30.80% 35.30% 50.90% 35.10% 36.40% 29.70% 2019202020212022202320242025
Free cash flow margin (%)
63.30% 66.70% 55.20% 64.20% 2019202020212022202320242025
Debt / equity (×)
2019202020212022202320242025
EPS ($)
$4.57 $2.52 $3.87 $6.42 $5.86 $6.57 $6.97 2019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Texas Pacific Land Corp trades at about 49.2× earnings — above its 10-year norm (10-year range 18.4×–65.8×, median 34.5×).

18.4× 65.8×

Shaded band = 10-year range (18.4×–65.8×); dot = today's 49.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating margin74.2%76.4%77.0%84.3%80.4%71.8%81.5%
Net margin60.3%64.3%64.2%66.9%59.9%58.2%65.0%
FCF margin———64.2%55.2%66.7%63.3%
Return on assets29.7%36.4%35.1%50.9%35.3%30.8%53.3%
Return on equity33.0%40.1%38.9%57.8%41.4%36.3%62.2%
Current ratio4.4010.8119.4316.0010.3415.56—

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.