Question 1

What is Texas Pacific Land's P/FCF ratio?

Accepted Answer

Texas Pacific Land (TPL) P/FCF ratio is 60.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Texas Pacific Land?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Texas Pacific Land specifically, the relevant sector benchmark is the current sector median of 22.1×.

Question 5

Is Texas Pacific Land's P/FCF ratio high or low?

Accepted Answer

Texas Pacific Land's P/FCF ratio of 60.6× is above its own 5-year average of 45.3× and above the sector median of 22.1×. That places the current reading at the 81th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Texas Pacific Land's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Texas Pacific Land (TPL) P/FCF ratio has ranged from a low of 7.9× in 2012 to a high of 246.7× in 2007. The 5-year average is 45.3× and the 5-year median is 39.7×.

Question 7

What was Texas Pacific Land's P/FCF ratio in 2025?

Accepted Answer

Texas Pacific Land (TPL) P/FCF ratio at the end of 2025 was 40.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Texas Pacific Land's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$19.8B	$486M	40.7×	-34.0×	Dec 31, 2025
2024	$25.5B	$341M	74.7×	+44.8×	Dec 31, 2024
2023	$12.1B	$403M	30.0×	-12.2×	Dec 31, 2023
2022	$18.1B	$428M	42.2×	+3.4×	Dec 31, 2022
2021	$9.67B	$250M	38.7×	+13.4×	Dec 31, 2021
2020	$5.64B	$223M	25.3×	+5.8×	Dec 31, 2020
2019	$6.06B	$311M	19.5×	-9.0×	Dec 31, 2019
2018	$4.21B	$148M	28.5×	-18.0×	Dec 31, 2018
2017	$3.5B	$75.1M	46.6×	-12.3×	Dec 31, 2017
2016	$2.36B	$40M	58.9×	+37.3×	Dec 31, 2016
2015	$1.07B	$49.3M	21.6×	-3.8×	Dec 31, 2015
2014	$986M	$38.8M	25.4×	-3.0×	Dec 31, 2014
2013	$852M	$30M	28.4×	+20.4×	Dec 31, 2013
2012	$158M	$19.9M	7.9×	-38.7×	Dec 31, 2012
2011	$1.11B	$23.9M	46.6×	-42.4×	Dec 31, 2011
2010	$1.04B	$11.7M	89.0×	-5.9×	Dec 31, 2010
2009	$889M	$9.36M	95.0×	+33.2×	Dec 31, 2009
2008	$706M	$11.4M	61.8×	-86.0×	Dec 31, 2008
2007	$1.4B	$9.51M	147.7×	+13.8×	Dec 31, 2007
2006	$1.38B	$10.3M	134.0×	+40.6×	Dec 31, 2006
2005	$960M	$10.3M	93.4×	+6.2×	Dec 31, 2005
2004	$883M	$10.1M	87.1×	+28.9×	Dec 31, 2004
2003	$378M	$6.49M	58.3×	+0.8×	Dec 31, 2003
2002	$280M	$4.87M	57.5×	—	Dec 31, 2002


Phillips 66 (PSX)	615.5×
Targa Resources (TRGP)	205.8×
Williams Companies (WMB)	123.3×
Enbridge (ENB)	73.7×
Diamondback Energy (FANG)	35.1×
Enphase Energy (ENPH)	34.2×
Chevron (CVX)	30.6×
National Fuel Gas (NFG)	29.1×
Baker Hughes (BKR)	26.4×
ONEOK (OKE)	25.4×
EOG Resources (EOG)	18.9×
Energy Transfer LP (ET)	18.2×
Occidental Petroleum (OXY)	17.8×
SLB (SLB)	16.5×
Halliburton (HAL)	16.5×
Marathon Petroleum (MPC)	12.6×
Valero Energy (VLO)	12.4×
Devon Energy (DVN)	11.9×
ConocoPhillips (COP)	10.5×
APA (APA)	10.1×
Expand Energy (EXE)	9.2×

P/FCF Ratio for Texas Pacific Land (TPL) 2002-2026

P/FCF Ratio daily chart for Texas Pacific Land (TPL)

Historical P/FCF Ratio for Texas Pacific Land (TPL) from 2002 to 2025

About P/FCF Ratio at Texas Pacific Land (TPL)

Texas Pacific Land P/FCF Ratio by Year

Texas Pacific Land P/FCF Ratio 2025: 40.7×

Texas Pacific Land P/FCF Ratio 2024: 74.7×

Texas Pacific Land P/FCF Ratio 2023: 30.0×

Texas Pacific Land P/FCF Ratio 2022: 42.2×

Texas Pacific Land P/FCF Ratio 2021: 38.7×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Texas Pacific Land (TPL) Key Financials