TPLTexas Pacific Land Corporation
$272.29-12% 1Y
$272.29
$272.2952 weeks$538.97
Latest close: a new 52-week lowNov 6, 2026what changed →
The business
How TPL's business earns
Texas Pacific Land Corporation earns 40% on the capital it employs against an estimated 9.0% cost of capital.
40%
Return on invested capital · cost of capital 9.0% · 31 points above the estimated cost of capital
- Operating margin
- 76%
Operating margin · Oil & Gas E&P median 26% · 12 months to Sep 30, 2026
- Cash conversion
- 1.10×
Cash conversion · 1.22× a year ago · operating cash flow divided by operating profit after tax
- Share count, year on year
- +0.01%
Share count, year on year · within 1% of a year ago
Operating margin by fiscal year
| Year | Operating margin |
|---|---|
| FY2020 | 72% |
| FY2021 | 80% |
| FY2022 | 84% |
| FY2023 | 77% |
| FY2024 | 76% |
| FY2025 | 74% |
Details›
- Operating margin12 months to Sep 30, 2026
- 76%
- Net margin12 months to Sep 30, 2026
- 61%
- Free cash flow margin
- 54%
- Revenue, trailing twelve months
- $968M
- Free cash flow, trailing twelve months
- $518M
- Net income, trailing twelve months
- $588M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 40%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from TPL and who it buys from, as the companies report it.
Customerswho buys
- Significant customers40%
Combined share of revenue · FY2025 10-K
Supplierswho it buys from
None disclosed.
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