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Texas Pacific Land Corp (TPL)
Oil Royalty Traders
Latest Price
$325.83
TTM P/E
332.48
Normalized P/E
10.20
Div Yield
0.86%
Book Value
24.25
P/B Ratio
13.44
Valuation metrics
adjust assumptions →EPS: $6.97
Book value / share: $21.16
Formula: √(22.5 × EPS × BVPS)
Graham Number
$57.61
82% downside
Norm. op. income: $513M (median of 6yr)
Tax rate: 22%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$60.43
81% downside
Base FCF: $249M (median of recent 3yr)
Growth: 24%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$253.52
22% downside
EPS: $6.97
Target P/E: 10×
Formula: EPS × P/E
P/E Fair Value
$69.70
79% downside
Institutional Ownership
78.7% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| Horizon Kinetics Asset Management LLC | 9.80M | $4.29B | 14.21% | -212.5K | 2026-06-30 |
| BlackRock, Inc. | 5.30M | $2.32B | 7.68% | -656.3K | 2026-06-30 |
| State Street Corp | 3.96M | $1.74B | 5.75% | +179.8K | 2026-06-30 |
| Vanguard Capital Management LLC | 3.81M | $1.67B | 5.52% | +25.2K | 2026-06-30 |
| Vanguard Portfolio Management LLC | 3.18M | $1.39B | 4.62% | +41.2K | 2026-06-30 |
| Blue Trust, Inc. | 2.23M | $40.0M | 3.23% | -45 | 2026-06-30 |
| Geode Capital Management, LLC | 1.65M | $717.0M | 2.39% | +13.2K | 2026-06-30 |
| SoftVest Advisors, LLC | 1.54M | $674.0M | 2.24% | +71.1K | 2026-06-30 |
| First Manhattan Co. LLC. | 1.06M | $465.0M | 1.54% | +2.0K | 2026-06-30 |
| Morgan Stanley | 972.3K | $425.0M | 1.41% | +7.8K | 2026-06-30 |