Texas Pacific Land Corp · Oil Royalty Traders

TPL

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The short version

A high-quality, profitable business with growing sales. Insiders are buying.

Going well

Sales up 31% in the latest quarter vs a year ago
Profitable every year for 8 years
Sales up 13% last year

Money moves

An insider bought $2K of shares with their own money in the last 30 days
Institutions added 0.2% to their holdings in the quarter ending June 2026 (431 bought, 350 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$333.45-1.4% that day

Latest insider buy: A 10% owner bought at $340.96 on Sep 29. The stock is now $333.45, -2.2% since.

Company value: $23.0B; Share price times all shares
Price vs sales: 25.6x; No profit over the last year, so this compares value with sales instead
Dividend yield: 0.6%; Yearly dividend as a share of today's price
Cash vs value: 1%; Cash as a share of company value

From TPL's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$246.1M+31% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $897.5M, up 21% from the 12 months before. Over 5 years, sales grew about 21% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of TPL. Starting points are the company's recent numbers.

Sales growth+21% a yearRecently: +21% a yearProfit margin50%Last 12 months: 60.3%P/E at the end15xMany steady companies trade at 12x to 25xShare count change0% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$2.3B

Profit in 5 years$1.2B

Price these guesses point to$253.14-24% vs $333.45 todayAbout -5.4% a year, before dividends

What today's price needs: with a 50% margin and a 15x P/E, sales would have to grow about 28% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

6/6Strong

PassReturn on equity 15%+Earns a lot on the money owners have in the business.37.2%
PassDebt under half of equityNot relying on borrowed money.No debt reported
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.60.3%
PassProfitable every yearSteady profits, not one good year.8 of 8 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$545.9M
PassShare count not growingNot diluting owners. Falling means buybacks.-0.7% in 3 years

Revenue: $798.2M; +13.1% vs prior year
5-year growth: +21.4%/yr; revenue, per year
Total debt: None; 0.00x equity
Current ratio: 4.40x; short-term assets / bills due

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 5

Revenue: $246.1M; +31.2% YoY
EPS: $2.23; vs $1.68
Op. margin: 78.0%; +1.4 pts
Free cash flow: $172.9M
Share count: 0.0%; vs a year ago

Insider rating

Last 90 days

50Mixed

1 insider bought $2K

50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.

Weekly insider trend

13 weeks agoBoughtSoldThis week

Filing buzz

Last 7 days vs normal

18/ 100

This week: 1
Normal week: 5.0
vs normal: 0.2x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Steady+0.2%

Institutions added 0.2% to their holdings. 431 bought, 350 sold. 7 quarters of net buying in a row.

Shares held by institutions50.2M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-0.1%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

No debt reported

Shares outstandingLatest reported

69M

Earnings reports

Last 12

Next reportIn 7 days (est.)Estimated from the same quarter last year

Results filedAug 5
Results filedMay 6
Results filedFeb 18
Results filedNov 5, 2025
Results filedAug 6, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

No offerings, red flags or new big holders. Clean record.

Insider trades

Open-market buys and sells, last 90 days

Bought$2K1 insider

Sold$00 insiders

Insider	Trade	Shares	Avg price	Value	Owns after	Date
HORIZON KINETICS ASSET MANAGEMENT LLC10% owner	Buy	4	$340.96	$1K	3M	Sep 29Filing ↗
+0% of their holdings Filed 2 days after
HORIZON KINETICS ASSET MANAGEMENT LLC10% owner	Buy	1	$340.12	$340	3M	Sep 28Filing ↗
+0% of their holdings Filed 1 day after
HORIZON KINETICS ASSET MANAGEMENT LLC10% owner	Buy	1	$339.72	$340	3M	Sep 25Filing ↗
+0% of their holdings Filed 4 days after
HORIZON KINETICS ASSET MANAGEMENT LLC10% owner	Buy	1	$340.28	$340	3M	Sep 24Filing ↗
+0% of their holdings Filed 1 day after