Texas Pacific Land (TPL) stock
Energy · Oil & Gas Exploration & Production
Texas Pacific Land (TPL) is an Oil & Gas Exploration & Production company in the Energy sector, headquartered in Dallas, Texas. As of October 23, 2026, TPL closed at $338.26, a market capitalization of $23.33 billion, the 374th largest company in the S&P 500. Over the last twelve months it generated $897.54 million in revenue (+31% year over year) and $76.00 million in free cash flow. The stock trades at 43.1x trailing earnings and 4.6x forward earnings.
- 1-year total return: +8.9% (dividends reinvested)
- 5-year return: +20.6% a year
- 52-week range: $269.23 – $547.20
- Gross margin 93.3%, operating margin 78.2%
- Dividend yield: 0.71%, 4 straight years of increases
- FI Handbook report card: B across 10 metrics
- 19th largest of 21 Energy stocks in the S&P 500
TPL price chart
1Y price change: +8.2% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| TPL | +0.8% | +18.3% | +8.9% | +19.2% | +20.6% | +28.3% | +15.0% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
TPL key statistics
- Market cap
- $23.3B
- #374 in S&P 500
- P/E (TTM)
- 43.1x
- Forward P/E
- 4.6x
- EPS (TTM)
- $7.84
- Revenue (TTM)
- $897.5M
- +31%
- Free cash flow
- $76.0M
- Gross margin
- 93.3%
- Operating margin
- 78.2%
- Return on equity
- 36.6%
- Dividend yield
- 0.71%
- 52-week range
- $269.23 – $547.20
- Beta
- 0.59
- Price / sales
- 26.0x
- EV / EBITDA
- 31.2x
- Debt / equity
- 0.01x
- Employees
- 114
TPL report card
BTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth31.2%A
- Gross margin93.3%A
- Operating margin78.2%A
- FCF margin8.5%C
- Return on equity36.6%A
- Net debt / EBITDA-0.3xA
- Forward P/E4.6xA
- PEG ratio7.3xF
- Shareholder yield0.7%D
- Share count change / yr-0.2%C
Texas Pacific Land financials
Revenue went from $300.2M in fiscal 2018 to $798.2M in fiscal 2025, growing 15.0% a year.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $300.2M | $490.5M | $302.6M | $451.0M | $667.4M | $631.6M | $705.8M | $798.2M |
| Operating income | $260.8M | $399.6M | $217.3M | $362.4M | $562.3M | $486.1M | $539.1M | $592.2M |
| Net income | $209.7M | $318.7M | $176.0M | $270.0M | $446.4M | $405.6M | $454.0M | $481.4M |
| EPS (diluted) | — | $4.57 | $2.52 | $3.87 | $6.42 | $5.86 | $6.57 | $6.97 |
| Free cash flow | $147.6M | $310.6M | $202.0M | $248.7M | $428.2M | — | — | — |
| Buybacks | $38.4M | $4.4M | $0 | $19.7M | $87.8M | $42.6M | $29.2M | $8.4M |
| Dividends paid | $31.7M | $46.5M | $201.7M | $85.3M | $247.3M | $100.0M | $347.3M | $147.8M |
| Diluted shares | 70.1M | 69.8M | 69.8M | 69.8M | 69.5M | 69.2M | 69.1M | 69.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into TPL?
A reverse DCF asks what growth the current price requires. With an enterprise value of $23.1B and $76.0M of trailing free cash flow, Texas Pacific Land needs to grow free cash flow about 89.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 30.5% a year over the last five years.
P/E ratio history
Current 48.5x vs. median 48.3x (10th–90th percentile 14.8x–67.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
TPL dividend
- Dividend yield
- 0.71%
- Annual dividend
- $2.40
- Years of increases
- 4
- 5-yr dividend growth
- -5.9%
- per year
- Payout ratio
- 29%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
TPL analyst price targets
2 analysts' average 12-month target is $443.00 (+31% vs. $338.26). Targets range from $247.00 to $639.00. 50% rate it a buy.
TPL earnings
Next report: November 4, 2026. Texas Pacific Land has beaten EPS estimates 2 quarters in a row. Last quarter's revenue was $246.1M (+31% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 5, 2026 | $2.18 | $2.23 | +2.1% |
| May 6, 2026 | $2.02 | $2.07 | +2.5% |
| Feb 18, 2026 | $3.60 | $1.79 | -50.2% |
| Nov 5, 2025 | $1.92 | $1.76 | -8.7% |
| Aug 6, 2025 | $2.32 | $1.68 | -27.4% |
| Aug 7, 2024 | $1.79 | $1.66 | -7.1% |
| May 8, 2024 | $1.45 | $1.66 | +14.5% |
| Feb 21, 2024 | $1.50 | $1.64 | +9.1% |
Stocks like TPL
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 COP ConocoPhillips | +3.55% | +73% | $181.2B | 20.0x | Compare |
 EOG EOG Resources | +3.21% | +56% | $85.5B | 12.7x | Compare |
 OXY Occidental Petroleum Corporatio | +2.67% | +53% | $64.1B | 18.2x | Compare |
 FANG Diamondback Energy | +4.37% | +43% | $57.6B | 40.0x | Compare |
 DVN Devon Energy | +4.49% | +58% | $56.5B | 11.2x | Compare |
 EQT EQT | +1.76% | +5% | $34.8B | 12.9x | Compare |
 EXE Expand Energy | +0.29% | -9% | $21.6B | 8.0x | Compare |
 APA APA | +4.98% | +117% | $18.2B | 11.0x | Compare |
TPL news
- Here's What to Expect From Texas Pacific Land Corporation’s Next Earnings Report · Oct 23, 2026
- What Is The Market Seeing In Texas Pacific Land Stock? · Oct 19, 2026
- Texas Pacific Land (TPL): Buy, Sell, or Hold Post Q2 Earnings? · Oct 12, 2026
- Texas Pacific Land Corporation Sets Dates for Third Quarter 2026 Earnings Release and Conference Call · Oct 8, 2026
- Jim Cramer Draws a Line Between Texas Pacific Land (TPL) and Chevron (CVX) · Oct 8, 2026
TPL stock FAQ
What is TPL's market cap?
Texas Pacific Land's market capitalization is $23.33 billion as of October 23, 2026, ranking 374th in the S&P 500.
What is TPL's P/E ratio?
TPL trades at a trailing price-to-earnings ratio of 43.1x and a forward P/E of 4.6x. Its median P/E over the period we track is 48.3x.
Does TPL pay a dividend?
Yes. Texas Pacific Land pays $2.40 per share a year, a 0.71% yield. It has raised its dividend 4 years in a row. Dividends fell 5.9% a year over the last five years.
How much has TPL stock returned?
Including reinvested dividends, TPL returned +8.9% over one year, +20.6% a year over five years, +28.3% a year over ten years through October 23, 2026.
Is TPL stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Texas Pacific Land must grow free cash flow about 89% a year for the next decade. Its free cash flow grew 31% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the TPL price target?
2 analysts cover TPL with an average 12-month price target of $443.00, +31% from the current price. 50% of them rate it a buy.
When does TPL report earnings?
Texas Pacific Land is expected to report earnings on November 4, 2026. It has beaten EPS estimates 2 quarters in a row.
How many employees does Texas Pacific Land have?
Texas Pacific Land has about 114 full-time employees, or $7.9 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology