Symbols / TPL Stock $438.91 -0.05% Texas Pacific Land Corporation

Energy • Oil & Gas E&P • United States • NYQ
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Stock Fundamentals
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Index EQUITY
Sector Energy
Industry Oil & Gas E&P
CEO Mr. Tyler Glover
Exch · Country NYQ · United States
Market Cap 30.26B
Enterprise Value 30.13B
Income 481.38M
Sales 798.19M
FCF (ttm) -82.23M
Book/sh 21.16
Cash/sh 2.10
Employees 114
Insider 10d —
IPO Mar 17, 1980
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 30.61%
P/E 62.88
Forward P/E 6.00
PEG 7.33
P/S 37.91
P/B 20.74
P/C —
EV/EBITDA 45.96
EV/Sales 37.75
Quick Ratio 4.27
Current Ratio 4.40
Debt/Eq 1.22
LT Debt/Eq —
EPS (ttm) 6.98
EPS next Y 73.12
EPS Growth 4.30%
Revenue Growth 13.90%
EPS Gr Q/Q 4.20%
Rev Gr Q/Q —
Earnings (next) 2026-05-06
Earnings (prior) 2026-02-18
ROA 25.82%
ROE 37.15%
ROIC —
Gross Margin 93.29%
Oper. Margin 70.64%
Profit Margin 60.31%
Shs Outstand 68.94M
Shs Float 58.82M
Insider Own 0.17%
Instit Own 73.40%
Short Float 8.93%
Short Ratio 7.43
Short Interest 4.22M
52W High 547.20
vs 52W High -19.79%
52W Low 269.23
vs 52W Low 63.02%
Beta 0.77
Impl. Vol. 51.25%
Rel Volume 0.39
Avg Volume 551.86K
Volume 215.59K
Target (mean) $445.50
Tgt Median $445.50
Tgt Low $252.00
Tgt High $639.00
# Analysts 2
Recom None
Prev Close $439.15
Price $438.91
Change -0.05%
About

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The Land and Resource Management segment manages surface acres of land, and oil and gas royalty interest in Permian Basin. This segment also engages in easements, such as transporting oil, gas and related hydrocarbons, power line and utility, and subsurface wellbore easements. In addition, this segment leases its land for processing, storage, and compression facilities and roads; and is involved in sale of materials, such as caliche, sand, and other material, as well as sells land. The Water Services and Operations segment provides full-service water offerings, including water sourcing, produced-water treatment, infrastructure development, and disposal solutions to operators in the Permian Basin. This segment also holds produced water royalties. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 33,000 additional net royalty acres, total of approximately 224,000 NRA located in the Permian Basin. The company was founded in 1888 and is headquartered in Dallas, Texas.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$445.50
Mean price target
2. Current target
$438.91
Latest analyst target
3. DCF / Fair value
$-21.47
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$438.91
Low
$252.00
High
$639.00
Mean
$445.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-23 main Keybanc Overweight → Overweight $639
2025-12-02 init Keybanc — → Overweight $1050
2024-08-12 main BWS Financial Buy → Buy $917
2024-05-10 main BWS Financial Buy → Buy $917
2024-04-02 main BWS Financial Buy → Buy $917
2024-01-23 main Stifel Hold → Hold $1414
2023-11-30 main Stifel Hold → Hold $1558
2023-05-22 main Stifel Hold → Hold $1378
2023-04-27 main Stifel — → Hold $1399
2023-04-12 main Stifel — → Hold $1396
2021-09-29 init Credit Suisse — → Underperform $800
2021-05-10 main BWS Financial — → Buy $2000
2021-04-01 down Stifel Buy → Hold $1359
2021-03-01 main BWS Financial — → Buy $1700
2021-01-12 init BWS Financial — → Buy $1150
News
RSS: Latest TPL news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-22 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $437.87 $438
2026-04-21 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $441.84 $442
2026-04-20 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $427.65 $428
2026-04-16 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $424.47 $424
2026-04-15 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $419.26 $419
2026-04-14 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $413.96 $414
2026-04-13 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $414.88 $415
2026-04-10 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $407.06 $407
2026-04-09 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 1 $401.64 $402
2026-04-08 HORIZON KINETICS ASSET MANAGEMENT L.L.C. Beneficial Owner of more than 10% of a Class of Security — 3 $449.00 $1,347
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
798.19
+13.09%
705.82
+11.75%
631.60
-5.37%
667.42
Operating Revenue
798.19
+13.09%
705.82
+11.75%
631.60
-5.37%
667.42
Cost Of Revenue
116.06
+62.81%
71.29
+47.52%
48.32
+47.15%
32.84
Reconciled Cost Of Revenue
116.06
+62.81%
71.29
+47.52%
48.32
+47.15%
32.84
Gross Profit
682.13
+7.50%
634.54
+8.79%
583.27
-8.09%
634.58
Operating Expense
89.97
-5.69%
95.40
-1.87%
97.22
+34.51%
72.28
Selling General And Administration
81.70
-7.26%
88.10
-1.93%
89.83
+41.64%
63.42
General And Administrative Expense
81.70
-7.26%
88.10
-1.93%
89.83
+41.64%
63.42
Salaries And Wages
57.92
+8.03%
53.62
+23.60%
43.38
+4.79%
41.40
Other Gand A
23.78
-31.04%
34.48
-25.76%
46.45
+110.94%
22.02
Total Expenses
206.03
+23.60%
166.69
+14.53%
145.54
+38.46%
105.11
Operating Income
592.16
+9.83%
539.14
+10.92%
486.05
-13.56%
562.31
Total Operating Income As Reported
592.16
+9.83%
539.14
+10.92%
486.05
-13.56%
562.31
EBITDA
673.55
+19.36%
564.30
+12.68%
500.81
-13.31%
577.68
Normalized EBITDA
673.55
+19.36%
564.30
+12.68%
500.81
-13.31%
577.68
Reconciled Depreciation
62.53
+148.52%
25.16
+70.51%
14.76
-4.03%
15.38
EBIT
611.02
+13.33%
539.14
+10.92%
486.05
-13.56%
562.31
Net Income
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Pretax Income
610.33
+5.44%
578.82
+11.84%
517.56
-9.02%
568.86
Net Non Operating Interest Income Expense
17.28
-46.24%
32.14
+12.26%
28.63
+361.25%
6.21
Interest Expense Non Operating
0.69
—
—
—
Net Interest Income
17.28
-46.24%
32.14
+12.26%
28.63
+361.25%
6.21
Interest Expense
0.69
—
—
—
Interest Income Non Operating
17.97
-44.09%
32.14
+12.26%
28.63
+361.25%
6.21
Interest Income
17.97
-44.09%
32.14
+12.26%
28.63
+361.25%
6.21
Other Income Expense
0.89
-88.23%
7.54
+162.09%
2.88
+743.99%
0.34
Other Non Operating Income Expenses
0.89
-88.23%
7.54
+162.09%
2.88
+743.99%
0.34
Tax Provision
128.95
+3.28%
124.86
+11.57%
111.92
-8.63%
122.49
Tax Rate For Calcs
0.00
-2.31%
0.00
+0.00%
0.00
+0.47%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Net Income From Continuing Operation Net Minority Interest
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Net Income From Continuing And Discontinued Operation
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Net Income Continuous Operations
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Normalized Income
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Net Income Common Stockholders
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Diluted EPS
6.97
+6.03%
6.57
+12.11%
5.86
-8.66%
6.42
Basic EPS
6.98
+6.03%
6.58
+12.19%
5.87
-8.63%
6.42
Basic Average Shares
68.95
-0.01%
68.96
-0.25%
69.13
-0.52%
69.50
Diluted Average Shares
69.03
-0.05%
69.06
-0.17%
69.18
-0.52%
69.54
Diluted NI Availto Com Stockholders
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Other Taxes
8.26
+13.27%
7.29
-1.22%
7.38
-16.59%
8.85
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,623.28
+30.07%
1,248.02
+7.92%
1,156.40
+31.79%
877.43
Current Assets
319.32
-36.56%
503.37
-41.64%
862.46
+36.16%
633.40
Cash Cash Equivalents And Short Term Investments
144.81
-60.84%
369.83
-49.00%
725.17
+41.96%
510.83
Cash And Cash Equivalents
144.81
-60.84%
369.83
-49.00%
725.17
+41.96%
510.83
Receivables
164.91
+30.18%
126.67
-1.78%
128.97
+24.03%
103.98
Accounts Receivable
164.91
+30.18%
126.67
-1.78%
128.97
+24.03%
103.98
Inventory
—
—
—
109.70
Finished Goods
—
—
—
109.70
Prepaid Assets
3.72
0.00
0.00
-100.00%
4.81
Restricted Cash
0.59
-61.51%
1.55
-71.26%
5.38
-15.25%
6.35
Other Current Assets
5.29
-0.43%
5.32
+80.64%
2.94
-60.36%
7.43
Total Non Current Assets
1,303.96
+75.11%
744.65
+153.34%
293.93
+20.45%
244.03
Net PPE
1,018.25
+83.09%
556.14
+302.84%
138.06
+3.78%
133.03
Gross PPE
1,142.46
+82.32%
626.62
+213.16%
200.09
+7.62%
185.94
Accumulated Depreciation
-124.22
-76.25%
-70.48
-13.60%
-62.04
-17.26%
-52.91
Properties
897.44
+100.74%
447.07
+768.20%
51.49
+7.44%
47.93
Machinery Furniture Equipment
12.09
+21.70%
9.93
+1.34%
9.80
+0.85%
9.72
Other Properties
232.94
+37.33%
169.62
+22.20%
138.80
+8.19%
128.29
Goodwill And Other Intangible Assets
32.85
-6.66%
35.19
+67.36%
21.02
0.00
Other Intangible Assets
32.85
-6.66%
35.19
+67.36%
21.02
—
Investments And Advances
50.00
0.00
—
—
Long Term Equity Investment
50.00
0.00
—
—
Other Non Current Assets
23.74
+134.03%
10.14
+110.09%
4.83
+273.11%
1.29
Total Liabilities Net Minority Interest
164.37
+42.24%
115.56
+2.08%
113.20
+8.29%
104.54
Current Liabilities
73.57
+21.80%
60.40
-4.22%
63.06
+11.00%
56.81
Payables And Accrued Expenses
52.50
+32.02%
39.76
+4.49%
38.06
+8.40%
35.11
Payables
52.50
+32.02%
39.76
+4.49%
38.06
+8.40%
35.11
Accounts Payable
39.58
+46.81%
26.96
+19.81%
22.50
-4.02%
23.44
Total Tax Payable
12.92
+0.88%
12.81
-17.68%
15.56
+33.37%
11.66
Income Tax Payable
4.01
-8.68%
4.39
-8.49%
4.79
+51.41%
3.17
Current Deferred Liabilities
21.07
+2.11%
20.64
-17.48%
25.01
+15.19%
21.71
Current Deferred Revenue
21.07
+2.11%
20.64
-17.48%
25.01
+15.19%
21.71
Total Non Current Liabilities Net Minority Interest
90.80
+64.63%
55.16
+10.00%
50.14
+5.06%
47.73
Long Term Debt And Capital Lease Obligation
16.18
+3470.64%
0.45
-61.28%
1.17
-40.15%
1.96
Long Term Capital Lease Obligation
16.18
+3470.64%
0.45
-61.28%
1.17
-40.15%
1.96
Non Current Deferred Liabilities
74.21
+36.93%
54.20
+11.30%
48.70
+6.70%
45.64
Non Current Deferred Revenue
20.11
+195.82%
6.80
+7.38%
6.33
+41.04%
4.49
Non Current Deferred Taxes Liabilities
54.11
+14.15%
47.40
+11.89%
42.37
+2.95%
41.15
Stockholders Equity
1,458.91
+28.83%
1,132.46
+8.56%
1,043.20
+34.97%
772.89
Common Stock Equity
1,458.91
+28.83%
1,132.46
+8.56%
1,043.20
+34.97%
772.89
Capital Stock
0.69
+199.13%
0.23
+196.15%
0.08
+0.00%
0.08
Common Stock
0.69
+199.13%
0.23
+196.15%
0.08
+0.00%
0.08
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
69.26
+0.00%
69.26
-0.78%
69.81
+0.00%
69.81
Ordinary Shares Number
68.94
+0.03%
68.92
-0.16%
69.02
-0.34%
69.26
Treasury Shares Number
0.32
-6.66%
0.34
-56.18%
0.78
+43.74%
0.54
Additional Paid In Capital
9.91
-50.22%
19.90
+36.18%
14.61
+76.21%
8.29
Retained Earnings
1,595.40
+24.88%
1,277.59
+9.04%
1,171.67
+35.28%
866.14
Gains Losses Not Affecting Retained Earnings
4.15
+15.82%
3.58
+95.69%
1.83
-27.23%
2.52
Treasury Stock
151.24
-10.42%
168.84
+16.45%
145.00
+39.24%
104.14
Other Equity Adjustments
4.15
+15.82%
3.58
+95.69%
1.83
-27.23%
2.52
Total Equity Gross Minority Interest
1,458.91
+28.83%
1,132.46
+8.56%
1,043.20
+34.97%
772.89
Total Capitalization
1,458.91
+28.83%
1,132.46
+8.56%
1,043.20
+34.97%
772.89
Working Capital
245.75
-44.52%
442.97
-44.59%
799.40
+38.64%
576.59
Invested Capital
1,458.91
+28.83%
1,132.46
+8.56%
1,043.20
+34.97%
772.89
Total Debt
16.18
+3470.64%
0.45
-61.28%
1.17
-40.15%
1.96
Capital Lease Obligations
16.18
+3470.64%
0.45
-61.28%
1.17
-40.15%
1.96
Net Tangible Assets
1,426.06
+29.96%
1,097.28
+7.35%
1,022.17
+32.25%
772.89
Tangible Book Value
1,426.06
+29.96%
1,097.28
+7.35%
1,022.17
+32.25%
772.89
Investment Properties
179.13
+25.11%
143.18
+10.12%
130.02
+18.52%
109.70
Non Current Accrued Expenses
0.41
-18.06%
0.50
+83.94%
0.27
+109.16%
0.13
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
545.91
+11.26%
490.67
+17.30%
418.29
-6.45%
447.15
Cash Flow From Continuing Operating Activities
545.91
+11.26%
490.67
+17.30%
418.29
-6.45%
447.15
Net Income From Continuing Operations
481.38
+6.04%
453.96
+11.91%
405.64
-9.12%
446.36
Depreciation Amortization Depletion
62.53
+148.52%
25.16
+70.51%
14.76
-4.03%
15.38
Other Non Cash Items
0.21
—
—
—
Pension And Employee Benefit Expense
0.00
+100.00%
-4.62
0.00
0.00
Stock Based Compensation
15.13
+21.07%
12.50
+20.84%
10.34
+22.66%
8.43
Deferred Tax
6.55
+42.38%
4.60
+229.09%
1.40
+10.77%
1.26
Deferred Income Tax
6.55
+42.38%
4.60
+229.09%
1.40
+10.77%
1.26
Operating Gains Losses
—
-4.62
—
—
Change In Working Capital
-19.90
-2025.64%
-0.94
+93.24%
-13.86
+42.94%
-24.28
Change In Receivables
-52.93
-8577.54%
-0.61
+97.51%
-24.46
-76.80%
-13.83
Changes In Account Receivables
—
—
—
-13.83
Change In Prepaid Assets
-3.72
0.00
-100.00%
4.81
+200.00%
-4.81
Change In Payables And Accrued Expense
0.11
+104.11%
-2.75
-170.66%
3.89
+122.12%
-17.59
Change In Payable
0.11
+104.11%
-2.75
-170.66%
3.89
+122.12%
-17.59
Change In Other Working Capital
13.75
+452.19%
-3.90
-175.93%
5.14
+165.22%
1.94
Change In Other Current Liabilities
22.89
+261.85%
6.33
+295.28%
-3.24
-132.35%
10.02
Investing Cash Flow
-595.85
-26.31%
-471.75
-682.18%
-60.31
-181.82%
-21.40
Cash Flow From Continuing Investing Activities
-595.85
-26.31%
-471.75
-682.18%
-60.31
-181.82%
-21.40
Net PPE Purchase And Sale
-513.77
-20.81%
-425.27
-2187.77%
-18.59
+10.49%
-20.77
Purchase Of PPE
-513.77
-20.81%
-425.27
-2187.15%
-18.59
+10.92%
-20.87
Sale Of PPE
0.00
0.00
-100.00%
0.01
-95.28%
0.11
Capital Expenditure
-513.77
-20.81%
-425.27
-963.26%
-40.00
-91.61%
-20.87
Net Business Purchase And Sale
-46.12
-2.49%
-45.00
0.00
0.00
Purchase Of Business
-50.00
-11.11%
-45.00
0.00
0.00
Net Intangibles Purchase And Sale
0.00
0.00
+100.00%
-21.40
0.00
Purchase Of Intangibles
0.00
0.00
+100.00%
-21.40
0.00
Financing Cash Flow
-176.04
+53.44%
-378.09
-161.46%
-144.61
+57.06%
-336.81
Cash Flow From Continuing Financing Activities
-176.04
+53.44%
-378.09
-161.46%
-144.61
+57.06%
-336.81
Net Common Stock Issuance
-8.38
+71.26%
-29.16
+31.51%
-42.57
+51.49%
-87.77
Common Stock Payments
-8.38
+71.26%
-29.16
+31.51%
-42.57
+51.49%
-87.77
Common Stock Dividend Paid
-147.80
+57.44%
-347.31
-247.41%
-99.97
+59.57%
-247.28
Cash Dividends Paid
-147.80
+57.44%
-347.31
-247.41%
-99.97
+59.57%
-247.28
Repurchase Of Capital Stock
-8.38
+71.26%
-29.16
+31.51%
-42.57
+51.49%
-87.77
Net Other Financing Charges
-19.86
-1123.72%
-1.62
+21.37%
-2.06
-17.14%
-1.76
Changes In Cash
-225.98
+37.08%
-359.17
-268.33%
213.37
+139.90%
88.94
Beginning Cash Position
371.38
-49.16%
730.55
+41.26%
517.18
+20.77%
428.24
End Cash Position
145.40
-60.85%
371.38
-49.16%
730.55
+41.26%
517.18
Free Cash Flow
32.13
-50.86%
65.40
-82.71%
378.29
-11.26%
426.27
Income Tax Paid Supplemental Data
126.95
+5.21%
120.67
+15.94%
104.08
-31.51%
151.96
Change In Income Tax Payable
0.11
+104.11%
-2.75
-170.66%
3.89
+122.12%
-17.59
Change In Tax Payable
0.11
+104.11%
-2.75
-170.66%
3.89
+122.12%
-17.59
Net Investment Properties Purchase And Sale
-35.95
-2335.70%
-1.48
+92.74%
-20.32
-3110.11%
-0.63
Purchase Of Investment Properties
-35.95
-2335.70%
-1.48
+92.74%
-20.32
-3110.11%
-0.63
Sale Of Business
3.88
0.00
0.00
—
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