US · USD

TPL

Texas Pacific Land Corporation

$344.67+1.32% ($4.48)Updated 10/5/26, 5:17 PM

Day's range: $338.67 – $349.47
Day's volume: $92.6M
52-week range: $272.40 – $538.10

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TPL in numbers

Market cap: $23.8B

P/E: 43.91

P/B: 14.22

Dividend yield (12m): 0.68%

The 12-month dividend yield of TPL is 0.68%, below its 5-year average of 1.21%.

TPL price history

10/06/202510/05/2026

Compare with

TPL risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	+20.37%	+91.31%	+172.37%
Volatility (annualized)	62.68%	54.10%	50.33%
Largest drawdown	-37.59%	-45.76%	-49.56%
Positive months	5/12	18/36	31/60

How much did investing in TPL return?

Amount invested

$1,000.00 invested on 11/01/2021 would be worth $2,723.67 today.

Value today in TPL: $2,723.67

Return over the period: +172.37%

Return per year: +22.56%

In the S&P 500: $1,702.20

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

TPL fundamentals

Valuation

P/E
43.91
P/B
14.22
EV/EBITDA
32.12
EV/EBIT
35.35
EV/Revenue
26.49
P/EBIT
35.35
P/S
26.49
P/OCF
39.42
P/FCF
—
Earnings yield
2.83%
PEG ratio
—
Earnings per share
$7.85
Book value per share
$24.25

Debt

Net debt
—
Net debt/EBITDA
—
Net debt/Equity
—
Debt/Equity
—
Current ratio
4.55
Quick ratio
—
Cash ratio
2.64

Efficiency

Gross margin
—
EBITDA margin
82.45%
Operating margin
74.92%
Net margin
60.32%
Asset turnover
0.48

Profitability

ROE
32.37%
ROA
29.12%
ROIC
31.82%
Payout
29.73%

Growth

Revenue CAGR (5 years)
22.25%
Earnings CAGR (5 years)
22.26%
Revenue growth (year)
—
Earnings growth (year)
—
Revenue growth (quarter)
—
Earnings growth (quarter)
—

What is TPL's fair price?

Two classic value formulas, with today's numbers. The current price is $344.67.

Graham's fair price: $65.44; 81.01% below the price

√(22.50 × $7.85 × $24.25)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $55.01; 84.04% below the price

$3.30 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

TPL's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	123.40	56.00	29.73	40.42	35.83	32.03	—	—
P/B	40.72	22.45	11.56	23.34	14.84	11.62	—	—
EV/EBITDA	90.74	45.05	24.08	31.23	25.55	24.34	—	—
Dividend yield	0.74%	2.21%	0.83%	1.37%	0.88%	3.58%	0.77%	0.75%
Earnings per share	$6.98	$19.75	$52.90	$58.00	$34.86	$22.70	—	—
Book value per share	$21.16	$49.27	$136.04	$100.43	$84.14	$62.55	—	—
ROE	33.00%	40.09%	38.88%	57.75%	41.43%	36.28%	62.23%	85.71%
ROIC	32.01%	37.34%	36.52%	57.09%	41.36%	35.89%	61.82%	85.41%
EBITDA margin	82.02%	79.95%	79.29%	86.55%	83.97%	76.56%	83.28%	87.74%
Net margin	60.31%	64.32%	64.23%	66.88%	59.87%	58.19%	64.98%	69.86%

TPL's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$798.2M	$705.8M	$631.6M	$667.4M	$451M	$302.6M
Cost of revenue	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—
EBITDA	$654.7M	$564.3M	$500.8M	$577.7M	$378.7M	$231.7M
EBIT	$592.2M	$539.1M	$486.1M	$562.3M	$362.4M	$217.3M
Financial result	$18.9M	$39.7M	$31.5M	$6.5M	$624K	$2.4M
Income before tax	$610.3M	$578.8M	$517.6M	$568.9M	$363M	$219.7M
Income tax	-$129M	-$124.9M	-$111.9M	-$122.5M	-$93M	-$43.6M
Net income	$481.4M	$454M	$405.6M	$446.4M	$270M	$176M

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does TPL pay dividends?

Dividend yield per year

0.30%2017
0.75%2018
0.77%2019
3.58%2020
0.88%2021
1.37%2022
0.83%2023
2.21%2024
0.74%2025
0.52%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	08/31/2026	09/15/2026	$0.60
Dividend	05/29/2026	06/15/2026	$0.60
Dividend	02/27/2026	03/16/2026	$0.60
Dividend	11/28/2025	12/15/2025	$0.53
Dividend	09/01/2025	09/16/2025	$0.53
Dividend	05/30/2025	06/16/2025	$0.53
Dividend	02/28/2025	03/17/2025	$0.53
Dividend	11/29/2024	12/16/2024	$0.53
Dividend	09/02/2024	09/17/2024	$0.39
Dividend	06/28/2024	07/15/2024	$3.33
Dividend	05/31/2024	06/17/2024	$0.39
Dividend	02/28/2024	03/15/2024	$3.50

See all 29 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	11/29/2023	12/15/2023	$0.36
Dividend	08/30/2023	09/15/2023	$0.36
Dividend	06/06/2023	06/15/2023	$0.36
Dividend	03/06/2023	03/15/2023	$0.36
Dividend	12/06/2022	12/15/2022	$0.33
Dividend	09/06/2022	09/15/2022	$0.33
Dividend	06/06/2022	06/15/2022	$2.56
Dividend	03/04/2022	03/15/2022	$0.33
Dividend	12/06/2021	12/15/2021	$0.31
Dividend	09/06/2021	09/15/2021	$0.31
Dividend	06/04/2021	06/15/2021	$0.31
Dividend	03/04/2021	03/15/2021	$0.31
Dividend	12/09/2020	12/17/2020	$1.11
Dividend	03/05/2020	03/16/2020	$1.78
Dividend	03/06/2019	03/15/2019	$0.67
Dividend	03/07/2018	03/16/2018	$0.45
Dividend	03/06/2017	03/16/2017	$0.15

About Texas Pacific Land

Sector: Finance, insurance and real estate

Questions about TPL

How much is TPL today?

TPL is at $344.67 (1.32% on the day), last traded on 10/05/2026.

How much did TPL pay in dividends in 2025?

TPL paid $2.13 per share in 2025, a dividend yield of 0.74%.

What are the P/E and P/B of TPL?

TPL trades at a P/E of 43.91 and a P/B of 14.22.

How much did TPL return in 12 months?

TPL returned 20.37% in 12 months, with annualized volatility of 62.68% and a largest drawdown of -37.59%.