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Texas Pacific Land Corporation (TPL) USD

At a glance: strengths & risks
✓Revenue growing (+13%)✓Margins improving (80%→82%)✓Net cash balance sheet

Sector: Oil

Geography: Permian Basin (US)

COMM_TPL

Price chart

425.55 USDDay -1.74%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
425.55 USD · -1.74%
Market cap
29.3 bn USD

Growth

Δ revenue y/y
20.8%
Δ EBITDA y/y
21.2%

Multiples

P/E (LTM)
58.3x
3y avg: 59.0x
P/B (FY)
20.1x
P/E (ann.)
51.3x
EV/EBITDA (LTM)
42.2x
3y avg: 45.1x
EV/EBITDA (ann.)
37.1x

Cash return

Dividend yield
0.5%
FCF yield (LTM)
-0.2%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+6.5%
↓ details

Liquidity

Daily turnover (listing)
78.3 mln USD

Shares: yahoo_fundamentals_timeseries/TPL

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK236.8
y/y 20.8%
182.3
y/y 21.5%
14.0
y/y 17.6%
196.4
y/y 21.2%
142.9
y/y 18.4%
162.0-7.31751.5
y/y 29.4%
1555.9
y/y 29.0%
37.9%-231.7Link
2025-12-31Q4 2025 (3M)OK211.6
y/y 13.9%
149.2
y/y 4.7%
21.9
y/y 91.2%
171.2
y/y 11.1%
123.3
y/y 4.2%
113.7-570.41623.3
y/y 30.1%
1458.9
y/y 28.8%
34.1%-128.6Link
2025-09-30Q3 2025 (3M)OK203.1
y/y 17.0%
149.1
y/y 17.1%
15.0
y/y 159.7%
164.1
y/y 23.3%
121.2
y/y 13.7%
154.6-18.61524.9
y/y 29.7%
1368.0
y/y 30.0%
12.2%-515.3Link
2025-06-30Q2 2025 (3M)PARTIAL187.5
y/y 8.8%
143.8
y/y 7.9%
13.7
y/y 234.7%
157.5
y/y 14.7%
116.1
y/y 1.4%
120.9-3.31404.7
y/y 6.8%
1288.9
y/y 6.8%
37.2%-543.5Link
2025-03-31Q1 2025 (3M)PARTIAL196.0
y/y 12.5%
150.1
y/y 10.3%
11.9
y/y 211.0%
162.0
y/y 15.8%
120.7
y/y 5.4%
156.7-3.51353.3
y/y 7.5%
1206.3
y/y 7.5%
41.3%-459.9Link
2024-12-31Q4 2024 (3M)OK185.8
y/y 11.5%
142.5
y/y 6.5%
11.5
y/y 195.8%
154.0
y/y 11.8%
118.4
y/y 4.6%
126.6-246.01248.0
y/y 7.9%
1132.5
y/y 8.6%
41.6%-369.4Link
2024-09-30Q3 2024 (3M)PARTIAL173.6
y/y 9.9%
127.3
y/y 0.3%
5.8
y/y 60.8%
133.1
y/y 2.0%
106.6
y/y 1.0%
118.6-216.11175.6
y/y 8.9%
1052.1
y/y 9.1%
12.6%-532.7Link
2024-06-30Q2 2024 (3M)PARTIAL172.3
y/y 7.3%
133.2
y/y 10.8%
4.1
y/y 5.1%
137.3
y/y 10.6%
114.6
y/y 14.1%
98.3-7.41315.8
y/y 31.4%
1206.4
y/y 35.9%
39.4%-893.5Link
2024-03-31Q1 2024 (3M)OK174.1
y/y 19.0%
136.0
y/y 29.6%
3.8
y/y 12.8%
139.9
y/y 29.1%
114.4
y/y 32.2%
147.2-2.21259.2
y/y 31.8%
1122.4
y/y 35.4%
42.3%-836.0Link
2023-12-31Q4 2023 (3M)OK166.7
y/y —
133.9
y/y —
3.9
y/y —
137.7
y/y —
113.1
y/y —
111.454.31156.4
y/y —
1043.2
y/y —
40.4%-724.0Link
2023-09-30Q3 2023 (3M)OK158.0
y/y —
127.0
y/y —
3.6
y/y —
130.5
y/y —
105.6
y/y —
107.6-28.31079.3
y/y —
964.6
y/y —
15.2%-652.0Link
2023-06-30Q2 2023 (3M)OK160.6
y/y —
120.3
y/y —
3.9
y/y —
124.2
y/y —
100.4
y/y —
84.5-25.91001.3
y/y —
887.5
y/y —
46.8%—Link
2023-03-31Q1 2023 (3M)OK146.4
y/y —
105.0
y/y —
3.4
y/y —
108.4
y/y —
86.6
y/y —
114.8-3.8955.3
y/y —
829.1
y/y —
——Link

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

0501001502002502023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

0%10%20%30%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-400-300-200-10001002002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-1 000-800-600-400-20002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Oil and Gas E and P

Annual production
12.68 mln boe
2025

Production, mln boe

4.4320206.8220217.83202221.30202324.14202412.6820253.382026

Production

YearProduction, mln boeper day
20263.38 * (3M)
+19.3%		36 973
202512.68
−47.4%		34 750
202424.14
+13.3%		66 126
202321.30
+172.1%		58 362
20227.83
+14.8%		21 452
20216.82
+53.9%		18 694
20204.4312 148

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — WTI

Current 92spot vs LTM +27%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +6.5% ▲ +1.7 pp 1d

Main driver: WTI +27% vs LTM; revenue ×1.12 vs costs ×1.04; EBITDA 689→738; at 3.7× EV/EBITDA → +6%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
WTI (rev)+60%91.8472.3176.26+27%+5%
Henry Hub gas (rev)+30%2.913.373.11-14%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue839
LTM EBITDA689
LTM cash costs (revenue − EBITDA)150
2 · Revenue projection
Revenue multiplier — spot×1.121 (+12%)
= Spot revenue941
Revenue multiplier — 3y price×1.009 (+1%)
= 3-year-price revenue847
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs156
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs156
4 · EBITDA projection (revenue − costs)
= Spot EBITDA785
= 3-year-price EBITDA691
Conservative EBITDA = min(spot, avg)738
5 · Valuation → target market cap
Target EV/EBITDA (capped at current — trough guard)3.7x
Target EV = EV/EBITDA × conservative EBITDA2 724
Net debt-232
Target market cap = EV − net debt2 956
Current market cap2 776

Upside = target market cap ÷ current − 1 = +6.5%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2161118+36.4%12490+38.2%
2023 Q3158142+11.6%131110+19.1%
2023 Q4167147+13.6%138114+20.7%
2024 Q1174146+18.9%140113+23.9%
2024 Q2172165+4.7%137132+4.0%
2024 Q3174157+10.3%133125+6.4%
2024 Q4186174+6.6%154139+11.0%
2025 Q1196202-2.9%162166-2.1%
2025 Q2188181+3.9%157144+9.1%
2025 Q3203176+15.4%164141+16.3%
2025 Q4212190+11.1%171156+9.8%
2026 Q1237209+13.1%196173+13.7%

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +13% vs +12% the year before — a +1.3 pp move. 3-year CAGR +6%.
revenue growth by year: 2023 -5% · 2024 +12% · 2025 +13%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 3.7x · target 75th pct (3y) 3.8x · LTM avg 4.4x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-010.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2026-03-020.6 USDEx-dividend: 0.6 USD per sharePaidYahoo Finance (ex-div)
2025-12-010.5333 USDEx-dividend: 0.5333 USD per sharePaidYahoo Finance (ex-div)
2025-09-020.5333 USDEx-dividend: 0.5333 USD per sharePaidYahoo Finance (ex-div)
2025-06-020.5333 USDEx-dividend: 0.5333 USD per sharePaidYahoo Finance (ex-div)
2025-03-030.5333 USDEx-dividend: 0.5333 USD per sharePaidYahoo Finance (ex-div)
2024-12-020.5333 USDEx-dividend: 0.5333 USD per sharePaidYahoo Finance (ex-div)
2024-09-030.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2024-07-013.3333 USDEx-dividend: 3.3333 USD per sharePaidYahoo Finance (ex-div)
2024-06-030.39 USDEx-dividend: 0.39 USD per sharePaidYahoo Finance (ex-div)
2024-02-290.3889 USDEx-dividend: 0.3889 USD per sharePaidYahoo Finance (ex-div)
2023-11-300.3611 USDEx-dividend: 0.3611 USD per sharePaidYahoo Finance (ex-div)
2023-08-310.3611 USDEx-dividend: 0.3611 USD per sharePaidYahoo Finance (ex-div)
2023-06-070.3611 USDEx-dividend: 0.3611 USD per sharePaidYahoo Finance (ex-div)
2023-03-070.3611 USDEx-dividend: 0.3611 USD per sharePaidYahoo Finance (ex-div)
2022-12-070.3333 USDEx-dividend: 0.3333 USD per sharePaidYahoo Finance (ex-div)
2022-09-070.3333 USDEx-dividend: 0.3333 USD per sharePaidYahoo Finance (ex-div)
2022-06-072.5556 USDEx-dividend: 2.5556 USD per sharePaidYahoo Finance (ex-div)
2022-03-070.3333 USDEx-dividend: 0.3333 USD per sharePaidYahoo Finance (ex-div)
2021-12-070.3056 USDEx-dividend: 0.3056 USD per sharePaidYahoo Finance (ex-div)
2021-09-070.3056 USDEx-dividend: 0.3056 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Texas Pacific Land Corporation (TPL) — from primary filings.

Texas Pacific Land Corporation manages land and resources in the Permian Basin, including leasing surface acres for various uses and holding oil and gas royalty interests. It also provides water services such as sourcing, treatment, and disposal for operators in the region.

Frequently asked questions

What is Texas Pacific Land Corporation (TPL)'s P/E ratio?
Texas Pacific Land Corporation (TPL) trades at a P/E of 58.3x (price to trailing 12-month earnings).
What is Texas Pacific Land Corporation (TPL)'s EV/EBITDA?
Texas Pacific Land Corporation (TPL) trades at 42.2x EV/EBITDA.
What is Texas Pacific Land Corporation (TPL)'s P/B ratio?
Texas Pacific Land Corporation (TPL) trades at a P/B of 20.1x.
What is Texas Pacific Land Corporation (TPL)'s dividend yield?
Texas Pacific Land Corporation (TPL)'s trailing 12-month dividend yield is 0.5%.
What is Texas Pacific Land Corporation (TPL)'s return on equity (ROE)?
Texas Pacific Land Corporation (TPL)'s ROE is 37.9%.
What is Texas Pacific Land Corporation (TPL)'s market capitalization?
Texas Pacific Land Corporation (TPL)'s market cap is 29.3 bn USD.