Texas Pacific Land Corporation
TPL stock analysis · Energy · Oil & Gas Exploration & Production
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.
View share-count filing ↗Cash-flow proxy: excluded reinvestment
Tangible property spending excludes $454.244m of separately purchased oil/gas royalty interests, other intangible assets, business acquisitions and equity investments. It is not cash remaining after all growth investments; royalties do not require the landowner to fund wells. Read the cash-flow statement ↗
DCF value
Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -77.3% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
7 industry peers · median 15.7×
How this is calculated ↗Historical multiples
3 annual observations · snapshot P/E 62.7× · 0.1% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Requires two adjacent years of positive average capital, equity, cash, debt and operating income.
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Requires reported dividends, repurchases and issuance; missing values are not zero.
How this is calculated ↗Accrual quality
Parent-earnings fallback versus consolidated cash flow · scope limitation
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $124.41 | $135.74 | $147.93 |
| 10.0% | $91.16 | $99.19 | $107.80 |
| 12.0% | $71.92 | $78.04 | $84.60 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 798.2M | 481.4M | 545.9M | 95.5M | 1.6B |
| 2024-12-31 | 705.8M | 454M | 490.7M | 31.2M | 1.2B |
| 2023-12-31 | 631.6M | 405.6M | 418.3M | 35.3M | 1.2B |
| 2022-12-31 | 667.4M | 446.4M | 447.1M | 19M | 877.4M |
| 2021-12-31 | 451M | 270M | 265.2M | 16.4M | 764.1M |
| 2020-12-31 | 302.6M | 176M | 207M | 5.1M | 571.6M |
| 2019-12-31 | 490.5M | 318.7M | 342.8M | 32.2M | 598.2M |
| 2018-12-31 | 300.2M | 209.7M | 195.4M | 47.9M | — |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 798.2M | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-18 |
| netIncome | 481.4M | NetIncomeLoss Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-18 |
| Parent/common earnings proxy | 481.4M | NetIncomeLoss | 2026-02-18 |
| cfo | 545.9M | NetCashProvidedByUsedInOperatingActivities | 2026-02-18 |
| capex | 95.5M | Reviewed manual correction Consolidated investing cash-flow statement: fixed asset purchases $59.531m + direct surface-real-estate acquisitions $35.951m. Mineral royalty interests and separate intangible/business acquisitions are distinct asset categories and excluded from the tangible-property proxy. No asset-sale proceeds or noncash payables are netted/added. | 2026-02-18 |
| operatingIncome | 592.2M | OperatingIncomeLoss | 2026-02-18 |
| assets | 1.6B | Assets | 2026-02-18 |
| equity | 1.5B | StockholdersEquity Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-18 |
| Parent book equity proxy | 1.5B | StockholdersEquity | 2026-02-18 |
| debt | — | Not reported under a supported tag | — |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 144.8M | CashAndCashEquivalentsAtCarryingValue | 2026-02-18 |
| shares | 69M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-18 |
| dividends | 147.8M | PaymentsOfDividends | 2026-02-18 |
| buybacks | 8.4M | PaymentsForRepurchaseOfCommonStock | 2026-02-18 |
| issuance | — | Not reported under a supported tag | — |