# Texas Pacific Land Corporation (TPL) — Stock CV

Texas Pacific Land Corporation is a $25.0B financial services company. Revenue grew 20.8% over the last year, and it keeps 60¢ of every dollar of sales as profit. It trades at 46.0× earnings — around the middle of its own history.

> Texas Pacific Land Corp is mainly engaged in the sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. The group operates its business in two reportable segments: Land and Resource Management and Water Service and Operations.

## Identity

- **Ticker**: TPL
- **Sector**: Financial Services
- **Industry**: Oil Royalty Traders
- **Headquarters**: DALLAS, TX
- **Employees**: 114
- **Website**: https://www.texaspacific.com
- **Market cap**: $25.0B
- **Last price**: $362.00
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $898M
- **Net income**: $541M
- **Free cash flow**: $527M
- **Net cash**: $127M
- **P/E**: 46.0
- **Revenue growth (YoY)**: 20.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 15 |
| Growth | 85 |
| Profitability | 100 |
| Health | 100 |
| Quality | 69 |
| Moat | 100 |

## Qualifications (beginner checklist) — 11 of 11 passed

- [x] Revenue growing — +20.8% YoY
- [x] Profitable — $541M TTM
- [x] Profit growing — +2.8% YoY
- [x] Generates cash — $527M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $25.0B market cap
- [x] Not printing shares — -1.1% shares over ~5y
- [x] Proven track record — 6/6 profitable years
- [x] Financially stable — Altman Z 82.6 — safe
- [x] Pays a dividend — yield 0.63%
- [x] Valuation not extreme — P/E 46.0

## Experience (career milestones)

- **Q3 2026** — 15 open-market insider purchases: ~22 shares bought by insiders
- **FY2025** — Best year on record: $481M net income
- **FY2020** — Profitable every year on record: 6 consecutive profitable years in our data
- **FY2020** — Positive free cash flow every year since: 6-year streak
- **1980** — Between 1980 and 1995, TPL bought back stock more quickly than it sold land, reducing its outstanding shares by 34%…
- **1888** — Texas Pacific Land Holdings was created in 1888 in the wake of the Texas and Pacific Railway bankruptcy

## Strengths

- High gross margin (93.3%)
- Strongly profitable — 60.3% net margin
- Revenue growing 20.8% year over year
- Strong cash conversion — FCF is 58.7% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $451M | $270M | $250M |
| FY2022 | $667M | $446M | $428M |
| FY2023 | $632M | $406M | $403M |
| FY2024 | $706M | $454M | $461M |
| FY2025 | $798M | $481M | $486M |

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Source: https://stockcv.com/TPL — derived from company filings; may be delayed or incomplete. Information, not investment advice.