Texas Pacific Land Corp (TPL)

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.

Symbol
TPL
Exchange
NYSE
Sector
Energy
Industry
Oil & Gas E&P
Market cap
$23.46B
52 week range
269.23 - 547.2

Valuation

Share price
$340.19 (close of 2026-10-02)
P/E (TTM)
43.34x
Price to book
14.03x
Price to free cash flow
38.90x
Enterprise value
$23.23B
Book value per share
$24.25

Price performance

PeriodChange
1 day+1.11%
5 days-0.26%
1 month-7.39%
3 months-16.46%
6 months-23.42%
Year to date+18.44%
1 year+5.46%
3 years+75.06%
5 years+161.02%
10 years+1179.39%
All time+43514.10%

Profitability and growth

Return on equity
33.00%
Return on invested capital
34.82%
Return on assets
29.65%
Return on capital employed
38.19%
Gross margin
77.17%
Net margin
60.31%
EBITDA margin
82.02%
Revenue growth
13.09%
Net income growth
6.04%
Free cash flow growth
11.26%

Cash flow and balance sheet

Free cash flow yield (TTM)
2.57%
Current ratio
4.55x
Net debt to EBITDA
-0.31x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$798.19M
Cost of revenue
$182.25M
Gross profit
$615.94M
EBITDA
$654.69M
Net income
$481.38M
Earnings per share
$6.98
Shares outstanding
68.95M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$798.19M$615.94M$481.38M$6.98
2024-12-31$705.82M$573.62M$453.96M$6.58
2023-12-31$631.60M$532.50M$405.64M$5.87
2022-12-31$667.42M$584.33M$446.36M$6.42
2021-12-31$450.96M$374.03M$269.98M$3.87
2020-12-31$302.56M$227.01M$176.05M$2.52
2019-12-31$490.50M$409.11M$318.73M$4.57
2018-12-31$300.22M$265.52M$209.74M$2.99

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3177.17%60.31%33.00%34.82%
2024-12-3181.27%64.32%40.09%54.29%
2023-12-3184.31%64.23%38.88%117.21%
2022-12-3187.55%66.88%57.75%166.59%
2021-12-3182.94%59.87%41.43%119.76%
2020-12-3175.03%58.19%36.28%84.23%
2019-12-3183.41%64.98%62.23%149.18%
2018-12-3188.44%69.86%85.71%172.23%

Cash and debt by year

Period endCash
2025-12-31$144.81M
2024-12-31$369.83M
2023-12-31$725.17M
2022-12-31$510.83M
2021-12-31$428.24M
2020-12-31$281.05M
2019-12-31$303.64M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$545.91M$15.13M
2024-12-31$490.67M$12.50M
2023-12-31$418.29M$10.34M
2022-12-31$428.18M$8.43M
2021-12-31$248.75M$28.00K
2020-12-31$201.95M-
2019-12-31$310.58M-
2018-12-31$147.57M-

Dividend history

Most recent payment
2026-09-01
Paid in the last twelve months
$3.40
Payment dateDividend per share
2026-09-01$0.60
2026-06-01$0.60
2026-03-02$0.60
2025-12-01$1.60
2025-09-02$1.60
2025-06-02$1.60
2025-03-03$1.60
2024-12-02$1.60

Investor relations

Next earnings report

Next confirmed report
2026-11-04
Consensus EPS estimate
$2.35

Past earnings dates

ReportedFiscal periodEPS estimate
2026-08-05Jun/2026$2.14
2026-05-06Mar/2026$2.03
2026-02-18Dec/2025$1.73
2025-11-05Sep/2025-
2025-08-06Jun/2025-
2025-05-07Mar/2025-
2025-02-19Dec/2024-
2024-11-06Sep/2024-

Filings and sources

Company website
texaspacific.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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