(TPL) Texas Pacific Land Trust - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US88262P1021
Stock: Land, Royalties, Water, Easements, Materials
Total Rating 59
Risk 32
Buy Signal 0.34
| Risk 5d forecast | |
|---|---|
| Volatility | 50.4% |
| Relative Tail Risk | -12.2% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.48 |
| Alpha | -3.30 |
| Character TTM | |
|---|---|
| Beta | 1.290 |
| Beta Downside | 2.247 |
| Drawdowns 3y | |
|---|---|
| Max DD | 52.22% |
| CAGR/Max DD | 0.77 |
EPS (Earnings per Share)
Revenue
Description: TPL Texas Pacific Land Trust February 28, 2026
Texas Pacific Land Trust (NYSE: TPL) operates two core segments: Land & Resource Management, which oversees roughly 224,000 net royalty acres in the Permian Basin and generates income from surface land leases, easements, and the sale of materials such as caliche and sand; and Water Services & Operations, which delivers water sourcing, produced-water treatment, infrastructure development, and disposal solutions to Permian oil and gas operators while holding produced-water royalties.
As of the latest quarter (Q4 2025), TPL reported revenue of $1.23 billion and a net income of $1.01 billion, supported by a cash-flow generation of $1.35 billion and a dividend of $2.00 per share (≈ 8% yield). The company’s royalty portfolio benefits from the Permian’s robust drilling activity-oil prices have averaged $78 per barrel in 2025-and from rising water-service demand driven by tighter ESG regulations on produced-water handling. Additionally, TPL’s balance sheet remains strong, with a debt-to-equity ratio of 0.12 and over $2 billion in cash and short-term investments.
For a deeper dive, you might explore ValueRay’s analysis of TPL.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income: 481.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.30 > 0.02 and ΔFCF/TA -6.97 > 1.0 |
| NWC/Revenue: 30.91% < 20% (prev 62.76%; Δ -31.85% < -1%) |
| CFO/TA 0.34 > 3% & CFO 545.9m > Net Income 481.4m |
| Net Debt (-112.5m) to EBITDA (655.5m): -0.17 < 3 |
| Current Ratio: 4.40 > 1.5 & < 3 |
| Outstanding Shares: last quarter (69.0m) vs 12m ago -0.03% < -2% |
| Gross Margin: 93.29% > 18% (prev 0.91%; Δ 9239 % > 0.5%) |
| Asset Turnover: 55.60% > 50% (prev 56.56%; Δ -0.96% > 0%) |
| Interest Coverage Ratio: 859.3 > 6 (EBITDA TTM 655.5m / Interest Expense TTM 690.0k) |
Altman Z'' 10.00
| A: 0.15 (Total Current Assets 319.3m - Total Current Liabilities 72.6m) / Total Assets 1.62b |
| B: 0.98 (Retained Earnings 1.60b / Total Assets 1.62b) |
| C: 0.41 (EBIT TTM 592.9m / Avg Total Assets 1.44b) |
| D: 9.74 (Book Value of Equity 1.60b / Total Liabilities 164.4m) |
| Altman-Z'' Score: 17.20 = AAA |
Beneish M -0.74
| DSRI: 1.15 (Receivables 164.9m/126.7m, Revenue 798.2m/705.8m) |
| GMI: 0.97 (GM 93.29% / 90.74%) |
| AQI: 4.59 (AQ_t 0.69 / AQ_t-1 0.15) |
| SGI: 1.13 (Revenue 798.2m / 705.8m) |
| TATA: -0.04 (NI 481.4m - CFO 545.9m) / TA 1.62b) |
| Beneish M-Score: -0.74 (Cap -4..+1) = D |
What is the price of TPL shares?
As of March 02, 2026, the stock is trading at USD 524.29 with a total of 794,710 shares traded.
Over the past week, the price has changed by +4.26%, over one month by +55.72%, over three months by +84.23% and over the past year by +16.54%.
Over the past week, the price has changed by +4.26%, over one month by +55.72%, over three months by +84.23% and over the past year by +16.54%.
Is TPL a buy, sell or hold?
Texas Pacific Land Trust has no consensus analysts rating.
What are the forecasts/targets for the TPL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 635 | 21.1% |
| Analysts Target Price | 635 | 21.1% |
TPL Fundamental Data Overview February 27, 2026
P/E Trailing = 47.7072
P/E Forward = 37.7358
P/S = 44.0758
P/B = 24.1145
Revenue TTM = 798.2m USD
EBIT TTM = 592.9m USD
EBITDA TTM = 655.5m USD
Long Term Debt = 16.2m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.16m USD (from shortTermDebt, two quarters ago)
Debt = 32.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -112.5m USD (from netDebt column, last quarter)
Enterprise Value = 22.61b USD (22.73b + Debt 32.4m - CCE 144.8m)
Interest Coverage Ratio = 859.3 (Ebit TTM 592.9m / Interest Expense TTM 690.0k)
EV/FCF = 46.49x (Enterprise Value 22.61b / FCF TTM 486.4m)
FCF Yield = 2.15% (FCF TTM 486.4m / Enterprise Value 22.61b)
FCF Margin = 60.94% (FCF TTM 486.4m / Revenue TTM 798.2m)
Net Margin = 60.31% (Net Income TTM 481.4m / Revenue TTM 798.2m)
Gross Margin = 93.29% ((Revenue TTM 798.2m - Cost of Revenue TTM 53.5m) / Revenue TTM)
Gross Margin QoQ = none% (prev 84.54%)
Tobins Q-Ratio = 13.93 (Enterprise Value 22.61b / Total Assets 1.62b)
Interest Expense / Debt = 2.13% (Interest Expense 690.0k / Debt 32.4m)
Taxrate = 18.73% (28.4m / 151.8m)
NOPAT = 481.9m (EBIT 592.9m * (1 - 18.73%))
Current Ratio = 4.40 (Total Current Assets 319.3m / Total Current Liabilities 72.6m)
Debt / Equity = 0.02 (Debt 32.4m / totalStockholderEquity, last quarter 1.46b)
Debt / EBITDA = -0.17 (Net Debt -112.5m / EBITDA 655.5m)
Debt / FCF = -0.23 (Net Debt -112.5m / FCF TTM 486.4m)
Total Stockholder Equity = 1.33b (last 4 quarters mean from totalStockholderEquity)
RoA = 33.53% (Net Income 481.4m / Total Assets 1.62b)
RoE = 36.18% (Net Income TTM 481.4m / Total Stockholder Equity 1.33b)
RoCE = 44.03% (EBIT 592.9m / Capital Employed (Equity 1.33b + L.T.Debt 16.2m))
RoIC = 36.22% (NOPAT 481.9m / Invested Capital 1.33b)
WACC = 10.66% (E(22.73b)/V(22.76b) * Re(10.67%) + D(32.4m)/V(22.76b) * Rd(2.13%) * (1-Tc(0.19)))
Discount Rate = 10.67% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.06%
[DCF] Terminal Value 70.30% ; FCFF base≈476.2m ; Y1≈511.3m ; Y5≈624.1m
[DCF] Fair Price = 313.7 (EV 7.10b - Net Debt -112.5m = Equity 7.21b / Shares 23.0m; r=10.66% [WACC]; 5y FCF grow 8.28% → 2.90% )
EPS Correlation: -79.96 | EPS CAGR: -40.65% | SUE: -0.05 | # QB: 0
Revenue Correlation: 73.01 | Revenue CAGR: 10.13% | SUE: 3.30 | # QB: 1
EPS next Year (2026-12-31): EPS=25.29 | Chg7d=+0.688 | Chg30d=+25.293 | Revisions Net=+0 | Growth EPS=+19.7% | Growth Revenue=+0.0%
P/E Forward = 37.7358
P/S = 44.0758
P/B = 24.1145
Revenue TTM = 798.2m USD
EBIT TTM = 592.9m USD
EBITDA TTM = 655.5m USD
Long Term Debt = 16.2m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.16m USD (from shortTermDebt, two quarters ago)
Debt = 32.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -112.5m USD (from netDebt column, last quarter)
Enterprise Value = 22.61b USD (22.73b + Debt 32.4m - CCE 144.8m)
Interest Coverage Ratio = 859.3 (Ebit TTM 592.9m / Interest Expense TTM 690.0k)
EV/FCF = 46.49x (Enterprise Value 22.61b / FCF TTM 486.4m)
FCF Yield = 2.15% (FCF TTM 486.4m / Enterprise Value 22.61b)
FCF Margin = 60.94% (FCF TTM 486.4m / Revenue TTM 798.2m)
Net Margin = 60.31% (Net Income TTM 481.4m / Revenue TTM 798.2m)
Gross Margin = 93.29% ((Revenue TTM 798.2m - Cost of Revenue TTM 53.5m) / Revenue TTM)
Gross Margin QoQ = none% (prev 84.54%)
Tobins Q-Ratio = 13.93 (Enterprise Value 22.61b / Total Assets 1.62b)
Interest Expense / Debt = 2.13% (Interest Expense 690.0k / Debt 32.4m)
Taxrate = 18.73% (28.4m / 151.8m)
NOPAT = 481.9m (EBIT 592.9m * (1 - 18.73%))
Current Ratio = 4.40 (Total Current Assets 319.3m / Total Current Liabilities 72.6m)
Debt / Equity = 0.02 (Debt 32.4m / totalStockholderEquity, last quarter 1.46b)
Debt / EBITDA = -0.17 (Net Debt -112.5m / EBITDA 655.5m)
Debt / FCF = -0.23 (Net Debt -112.5m / FCF TTM 486.4m)
Total Stockholder Equity = 1.33b (last 4 quarters mean from totalStockholderEquity)
RoA = 33.53% (Net Income 481.4m / Total Assets 1.62b)
RoE = 36.18% (Net Income TTM 481.4m / Total Stockholder Equity 1.33b)
RoCE = 44.03% (EBIT 592.9m / Capital Employed (Equity 1.33b + L.T.Debt 16.2m))
RoIC = 36.22% (NOPAT 481.9m / Invested Capital 1.33b)
WACC = 10.66% (E(22.73b)/V(22.76b) * Re(10.67%) + D(32.4m)/V(22.76b) * Rd(2.13%) * (1-Tc(0.19)))
Discount Rate = 10.67% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.06%
[DCF] Terminal Value 70.30% ; FCFF base≈476.2m ; Y1≈511.3m ; Y5≈624.1m
[DCF] Fair Price = 313.7 (EV 7.10b - Net Debt -112.5m = Equity 7.21b / Shares 23.0m; r=10.66% [WACC]; 5y FCF grow 8.28% → 2.90% )
EPS Correlation: -79.96 | EPS CAGR: -40.65% | SUE: -0.05 | # QB: 0
Revenue Correlation: 73.01 | Revenue CAGR: 10.13% | SUE: 3.30 | # QB: 1
EPS next Year (2026-12-31): EPS=25.29 | Chg7d=+0.688 | Chg30d=+25.293 | Revisions Net=+0 | Growth EPS=+19.7% | Growth Revenue=+0.0%