Question 1

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

Accepted Answer

Texas Pacific Land (TPL) P/S ratio is 35.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Texas Pacific Land specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

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

Accepted Answer

Texas Pacific Land's P/S ratio of 35.6× is above its own 5-year average of 26.3× and above the sector median of 2.2×. That places the current reading at the 82th 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/S ratio range?

Accepted Answer

In the available daily series, Texas Pacific Land (TPL) P/S ratio has ranged from a low of 4.8× in 2012 to a high of 96.1× in 2007. The 5-year average is 26.3× and the 5-year median is 24.8×.

Question 7

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

Accepted Answer

Texas Pacific Land (TPL) P/S ratio at the end of 2025 was 24.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$798M	24.8×	-11.3×	Dec 31, 2025
2024	$25.5B	$706M	36.1×	+16.9×	Dec 31, 2024
2023	$12.1B	$632M	19.1×	-7.9×	Dec 31, 2023
2022	$18.1B	$667M	27.1×	+5.6×	Dec 31, 2022
2021	$9.67B	$451M	21.4×	+2.8×	Dec 31, 2021
2020	$5.64B	$303M	18.6×	+6.3×	Dec 31, 2020
2019	$6.06B	$490M	12.4×	-1.7×	Dec 31, 2019
2018	$4.21B	$300M	14.0×	-12.4×	Dec 31, 2018
2017	$3.5B	$132M	26.4×	-12.9×	Dec 31, 2017
2016	$2.36B	$59.9M	39.3×	+25.9×	Dec 31, 2016
2015	$1.07B	$79.4M	13.4×	-4.4×	Dec 31, 2015
2014	$986M	$55.2M	17.9×	-1.5×	Dec 31, 2014
2013	$852M	$44.1M	19.3×	+14.5×	Dec 31, 2013
2012	$158M	$32.6M	4.8×	-28.2×	Dec 31, 2012
2011	$1.11B	$33.7M	33.1×	-18.7×	Dec 31, 2011
2010	$1.04B	$20.1M	51.8×	-16.2×	Dec 31, 2010
2009	$889M	$13.1M	68.0×	+31.4×	Dec 31, 2009
2008	$706M	$19.3M	36.6×	-54.2×	Dec 31, 2008
2007	$1.4B	$15.5M	90.8×	+29.4×	Dec 31, 2007
2006	$1.38B	$22.5M	61.5×	+2.6×	Dec 31, 2006
2005	$960M	$16.3M	58.9×	+28.6×	Dec 31, 2005
2004	$883M	$29.1M	30.3×	-7.7×	Dec 31, 2004
2003	$378M	$9.95M	38.0×	+7.3×	Dec 31, 2003
2002	$280M	$9.12M	30.6×	—	Dec 31, 2002


New Era Energy & Digital (NUAI)	84.8×
Williams Companies (WMB)	7.5×
Diamondback Energy (FANG)	3.7×
National Fuel Gas (NFG)	3.6×
Enphase Energy (ENPH)	3.5×
Targa Resources (TRGP)	3.3×
EOG Resources (EOG)	3.3×
ConocoPhillips (COP)	2.8×
Occidental Petroleum (OXY)	2.7×
Chevron (CVX)	2.2×
Baker Hughes (BKR)	2.2×
SLB (SLB)	2.1×
Enbridge (ENB)	2.1×
Devon Energy (DVN)	1.9×
Expand Energy (EXE)	1.9×
APA (APA)	1.7×
ONEOK (OKE)	1.6×
NACCO Industries (NC)	1.4×
Halliburton (HAL)	1.3×
Energy Transfer LP (ET)	0.7×
Valero Energy (VLO)	0.6×
Phillips 66 (PSX)	0.5×
Marathon Petroleum (MPC)	0.5×

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

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

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

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

Texas Pacific Land P/S Ratio by Year

Texas Pacific Land P/S Ratio 2025: 24.8×

Texas Pacific Land P/S Ratio 2024: 36.1×

Texas Pacific Land P/S Ratio 2023: 19.1×

Texas Pacific Land P/S Ratio 2022: 27.1×

Texas Pacific Land P/S Ratio 2021: 21.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Texas Pacific Land (TPL) Key Financials