Texas Pacific Land Corporation (TPL) Financial Ratios
30 years of historical data (1996–2025) · Energy · Oil & Gas Exploration & Production
EV/EBITDA
↓
37.24
↓-54% vs avg
5yr avg: 80.90
30Y Low16.0·High93.2
P/FCF
↓
50.36
↓-53% vs avg
5yr avg: 107.94
30Y Low24.0·High189.2
P/B Ratio
↓
16.80
↓-64% vs avg
5yr avg: 46.13
30Y Low13.6·High173.6
ROE
↓
37.2%
↑-21% vs avg
5yr avg: 46.7%
30Y Low23%·High162%
Debt/EBITDA
↑
0.05
↑+313% vs avg
5yr avg: 0.01
30Y Low0.0·High0.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
TPL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Texas Pacific Land Corporation trades at 50.9x earnings, 52% below its 5-year average of 105.6x, sitting at the 10th percentile of its historical range. Compared to the Energy sector median P/E of 15.4x, the stock trades at a premium of 230%. On a free-cash-flow basis, the stock trades at 50.4x P/FCF, 53% below the 5-year average of 107.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $24.5B | $19.8B | $76.4B | $36.3B | $54.3B | $29.0B | $16.9B | $18.2B | $12.7B | $10.5B | $7.1B |
| Enterprise Value | $24.4B | $19.7B | $76.0B | $35.5B | $53.8B | $28.6B | $16.6B | $17.9B | $12.5B | $10.4B | $7.1B |
| P/E Ratio → | 50.95 | 41.21 | 168.25 | 89.40 | 121.72 | 107.57 | 96.04 | 57.02 | 60.31 | 108.14 | 168.60 |
| P/S Ratio | 30.69 | 24.84 | 108.21 | 57.41 | 81.42 | 64.40 | 55.91 | 37.06 | 42.15 | 79.53 | 118.72 |
| P/B Ratio | 16.80 | 13.59 | 67.44 | 34.76 | 70.31 | 44.57 | 34.87 | 35.50 | 51.71 | 100.14 | 149.35 |
| P/FCF | 50.36 | 40.76 | 165.68 | 89.92 | 126.98 | 116.35 | 83.76 | 58.53 | 85.75 | 140.17 | 177.90 |
| P/OCF | 44.87 | 36.32 | 155.66 | 86.69 | 121.53 | 109.53 | 81.70 | 53.03 | 64.74 | 112.17 | 173.66 |
P/E links to full P/E history page with 30-year chart
TPL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Texas Pacific Land Corporation's enterprise value stands at 37.2x EBITDA, 54% below its 5-year average of 80.9x. The Energy sector median is 7.8x, placing the stock at a 375% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 24.70 | 107.69 | 56.26 | 80.66 | 63.46 | 54.99 | 36.45 | 41.75 | 78.93 | 117.89 |
| EV / EBITDA | 37.24 | 30.11 | 134.69 | 70.96 | 93.18 | 75.58 | 71.82 | 43.53 | 41.75 | 80.68 | 117.89 |
| EV / EBIT | 41.17 | 33.25 | 140.98 | 73.11 | 95.67 | 78.94 | 76.51 | 44.73 | 48.05 | 72.05 | 128.28 |
| EV / FCF | — | 40.53 | 164.88 | 88.12 | 125.79 | 114.65 | 82.38 | 57.56 | 84.93 | 139.11 | 176.66 |
TPL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Texas Pacific Land Corporation earns an operating margin of 74.2%, significantly above the Energy sector average of 13.8%. Operating margins have compressed from 77.0% to 74.2% over the past 3 years, signaling potential cost pressures or competitive headwinds. Return on equity of 37.2% is exceptionally high — well above the sector median of 7.2%. ROIC of 42.1% represents excellent returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 89.9% | 92.3% | 95.1% | 93.5% | 89.2% | 93.9% | 95.4% | 99.3% | 99.9% |
| Operating Margin | 74.2% | 74.2% | 76.4% | 77.0% | 84.3% | 80.4% | 71.8% | 81.9% | 86.9% | 90.5% | 91.9% |
| Net Profit Margin | 60.3% | 60.3% | 64.3% | 64.2% | 66.9% | 59.9% | 58.2% | 65.0% | 69.9% | 57.7% | 62.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 37.2% | 37.2% | 41.7% | 44.7% | 62.7% | 47.5% | 35.3% | 84.2% | 119.9% | 100.0% | 79.8% |
| ROA | 33.5% | 33.5% | 37.8% | 39.9% | 54.4% | 40.4% | 30.1% | 72.2% | 101.7% | 80.4% | 66.0% |
| ROIC | 42.1% | 42.1% | 74.7% | 125.0% | 172.5% | 126.1% | 78.0% | 178.9% | 259.9% | 757.3% | — |
| ROCE | 43.3% | 43.3% | 47.3% | 50.8% | 74.1% | 59.0% | 39.3% | 94.9% | 132.4% | 132.8% | 101.8% |
TPL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Texas Pacific Land Corporation carries a Debt/EBITDA ratio of 0.0x, which is very conservative (98% below the sector average of 2.6x). The company holds a net cash position — cash of $145M exceeds total debt of $32M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | — | — | — |
| Debt / EBITDA | 0.05 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | — | — | — |
| Net Debt / Equity | — | -0.08 | -0.33 | -0.69 | -0.66 | -0.65 | -0.58 | -0.59 | -0.49 | -0.76 | -1.04 |
| Net Debt / EBITDA | -0.17 | -0.17 | -0.65 | -1.45 | -0.88 | -1.13 | -1.20 | -0.73 | -0.40 | -0.61 | -0.82 |
| Debt / FCF | — | -0.23 | -0.80 | -1.80 | -1.19 | -1.71 | -1.38 | -0.97 | -0.81 | -1.06 | -1.24 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($145M) exceeds total debt ($32M)
TPL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Texas Pacific Land Corporation's current ratio of 4.40x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 13.68x to 4.40x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.40 | 4.40 | 8.33 | 13.68 | 11.15 | 7.80 | 8.41 | 14.99 | 14.99 | 15.26 | 18.32 |
| Quick Ratio | 4.40 | 4.40 | 8.33 | 13.68 | 9.22 | 6.18 | 5.66 | 10.61 | 14.13 | 15.09 | 17.96 |
| Cash Ratio | 1.99 | 1.99 | 6.12 | 11.50 | 8.99 | 6.34 | 7.11 | 12.41 | 9.88 | 12.32 | 16.18 |
| Asset Turnover | — | 0.49 | 0.57 | 0.55 | 0.76 | 0.59 | 0.53 | 0.82 | 1.05 | 1.04 | 0.96 |
| Inventory Turnover | — | — | — | — | 0.30 | 0.27 | 0.30 | 0.28 | 1.31 | 0.78 | 0.04 |
| Days Sales Outstanding | — | 75.41 | 65.50 | 74.53 | 56.87 | 77.07 | 58.17 | 46.88 | 59.27 | 49.02 | 40.49 |
TPL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Texas Pacific Land Corporation returns 0.7% to shareholders annually — split between a 0.6% dividend yield and 0.1% buyback yield. The payout ratio of 30.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 2.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.7% | 0.5% | 0.3% | 0.5% | 0.3% | 0.5% | 0.3% | 0.3% | 0.1% | 0.0% |
| Payout Ratio | 30.7% | 30.7% | 76.5% | 24.6% | 55.4% | 31.6% | 44.1% | 14.6% | 15.1% | 14.0% | 6.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.0% | 2.4% | 0.6% | 1.1% | 0.8% | 0.9% | 1.0% | 1.8% | 1.7% | 0.9% | 0.6% |
| FCF Yield | 2.0% | 2.5% | 0.6% | 1.1% | 0.8% | 0.9% | 1.2% | 1.7% | 1.2% | 0.7% | 0.6% |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.1% | 0.2% | 0.1% | 0.0% | 0.0% | 0.3% | 0.3% | 0.5% |
| Total Shareholder Yield | 0.7% | 0.9% | 0.5% | 0.4% | 0.6% | 0.4% | 0.5% | 0.3% | 0.6% | 0.4% | 0.5% |
| Shares Outstanding | — | $69M | $69M | $69M | $70M | $70M | $70M | $70M | $70M | $71M | $72M |
Peer Comparison
Compare TPL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 TPLYou | $24B | 50.9 | 37.2 | 50.4 | 100.0% | 74.2% | 37.2% | 42.1% | 0.0 |
 VNOM | $16B | -90.0 | 14.9 | — | 47.9% | 43.0% | -1.0% | 5.0% | 1.8 |
 DMLP | $1B | 20.8 | 9.4 | 9.1 | 46.2% | 37.5% | 17.2% | 14.7% | 0.0 |
 BSM | $3B | 10.9 | 10.5 | 10.0 | 74.9% | 61.8% | 26.6% | 16.1% | 0.5 |
 NRP | $1B | 10.0 | 8.7 | 8.1 | 81.2% | 68.9% | 22.6% | 16.1% | 0.2 |
 FANG | $52B | 32.0 | 6.6 | 9.9 | 35.2% | 32.7% | 4.0% | 6.7% | 1.5 |
 OXY | $52B | 32.2 | 6.5 | 12.6 | 33.8% | 17.2% | 6.7% | 4.7% | 2.1 |
 CVX | $346B | 26.2 | 10.4 | 20.9 | 30.4% | 9.0% | 7.1% | 6.2% | 1.3 |
 WTTR | $2B | 88.5 | 11.2 | — | 14.0% | 2.5% | 2.3% | 2.3% | 1.8 |
 NCSM | $130M | 5.7 | 6.0 | 6.2 | 38.2% | 6.4% | 18.3% | 7.9% | 0.7 |
 AROC | $6B | 20.1 | 10.6 | 54.2 | 48.6% | 38.7% | 22.9% | 11.6% | 2.9 |
| Energy Median | — | 15.4 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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TPL — Frequently Asked Questions
Quick answers to the most common questions about buying TPL stock.
What is Texas Pacific Land Corporation's P/E ratio?
Texas Pacific Land Corporation's current P/E ratio is 50.9x. The historical average is 87.5x. This places it at the 10th percentile of its historical range.
What is Texas Pacific Land Corporation's EV/EBITDA?
Texas Pacific Land Corporation's current EV/EBITDA is 37.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 59.1x.
What is Texas Pacific Land Corporation's ROE?
Texas Pacific Land Corporation's return on equity (ROE) is 37.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 66.9%.
Is TPL stock overvalued?
Based on historical data, Texas Pacific Land Corporation is trading at a P/E of 50.9x. This is at the 10th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Texas Pacific Land Corporation's dividend yield?
Texas Pacific Land Corporation's current dividend yield is 0.60% with a payout ratio of 30.7%.
What are Texas Pacific Land Corporation's profit margins?
Texas Pacific Land Corporation has 100.0% gross margin and 74.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Texas Pacific Land Corporation have?
Texas Pacific Land Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.