Price to Sales (P/S)
since 2005
Calculation
Texas Pacific Land Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 21, 2024 | 18.48 | = | 507.46 | ÷ | 27.45 | 27.45 | = | 631,595 | ÷ | 23,005,266 | |
| Feb 22, 2023 | 20.63 | = | 596.28 | ÷ | 28.91 | 28.91 | = | 667,422 | ÷ | 23,086,488 | |
| Feb 23, 2022 | 17.38 | = | 337.37 | ÷ | 19.41 | 19.41 | = | 450,958 | ÷ | 23,236,125 | |
| Feb 25, 2021 | 28.50 | = | 370.62 | ÷ | 13.00 | 13.00 | = | 302,554 | ÷ | 23,268,468 | |
| Feb 27, 2020 | 10.72 | = | 226.07 | ÷ | 21.08 | 21.08 | = | 490,496 | ÷ | 23,268,468 | |
| Feb 28, 2019 | 19.22 | = | 247.87 | ÷ | 12.90 | 12.90 | = | 300,220 | ÷ | 23,281,242 | |
| Feb 28, 2018 | 31.86 | = | 179.69 | ÷ | 5.64 | 5.64 | = | 132,329 | ÷ | 23,464,797 | |
| Feb 28, 2017 | 39.50 | = | 99.50 | ÷ | 2.52 | 2.52 | = | 59,911 | ÷ | 23,781,942 | |
| Feb 29, 2016 | 13.90 | = | 45.33 | ÷ | 3.26 | 3.26 | = | 79,415 | ÷ | 24,354,192 | |
| Feb 27, 2015 | 20.97 | = | 46.36 | ÷ | 2.21 | 2.21 | = | 55,202 | ÷ | 24,967,197 | |
| Feb 28, 2014 | 26.15 | = | 45.37 | ÷ | 1.74 | 1.74 | = | 44,109 | ÷ | 25,419,606 | |
| Mar 11, 2013 | 15.89 | = | 19.63 | ÷ | 1.24 | 1.24 | = | 32,587 | ÷ | 26,385,774 | |
| Mar 12, 2012 | 12.39 | = | 15.44 | ÷ | 1.25 | 1.25 | = | 34,301 | ÷ | 27,526,242 | |
| Mar 11, 2011 | 21.14 | = | 14.81 | ÷ | 0.70 | 0.70 | = | 20,066 | ÷ | 28,645,332 | |
| Mar 12, 2010 | 21.32 | = | 9.40 | ÷ | 0.44 | 0.44 | = | 13,085 | ÷ | 29,683,542 | |
| Mar 16, 2009 | 10.50 | = | 6.62 | ÷ | 0.63 | 0.63 | = | 19,296 | ÷ | 30,618,438 | |
| Mar 14, 2008 | 22.73 | = | 11.17 | ÷ | 0.49 | 0.49 | = | 15,465 | ÷ | 31,465,125 | |
| Mar 15, 2007 | 22.86 | = | 16.13 | ÷ | 0.71 | 0.71 | = | 22,461 | ÷ | 31,838,625 | |
| Mar 16, 2006 | 19.75 | = | 9.40 | ÷ | 0.48 | 0.48 | = | 15,408 | ÷ | 32,378,625 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Texas Pacific Land Corp. Annual Report.
The financial data exhibit several notable trends over the review period from 2006 to 2024. The share price shows a general upward trajectory despite periods of volatility. Beginning at $9.40 in 2006, the price experienced fluctuations including a drop to $6.62 in 2009, followed by a significant and sustained increase after 2014, reaching peaks above $500 by 2023. This suggests investor confidence and growth expectations improved considerably in recent years.
Sales per share demonstrate a somewhat volatile but generally rising pattern. Starting from $0.48 in 2006, sales per share grew modestly until 2010, then showed a marked acceleration, peaking notably at $21.08 in 2020 before slightly decreasing but remaining elevated around $27-$29 through to 2024. This progression indicates enhanced revenue generation capability on a per-share basis, reflecting operational improvements or successful monetization strategies over time.
The price-to-sales ratio (P/S) reflects the relationship between the share price and sales per share, confirming strong investor valuation despite sales variability. The P/S ratio was relatively high and fluctuating in the early years, peaking at 39.5 in 2017. Afterward, it declined significantly to around 10.72 in 2020, before rebounding again and stabilizing near the 18-20 range in the latest years. This pattern suggests changing market expectations and a dynamic balance between price appreciation and sales growth, with periods where the stock price outpaced sales increases and vice versa.
- Share Price:
- Overall growth with volatility, notable surge post-2014, reaching highest values in 2023.
- Sales per Share:
- Moderate early growth, rapid increase starting mid-2010s, peaking in 2020, slight correction but maintained high levels thereafter.
- Price-to-Sales Ratio (P/S):
- High and variable in early years, peak in 2017, decline in 2020, then stabilization in a mid-to-high range indicating changes in valuation relative to sales.
In summary, the data reveal strong price appreciation accompanied by significant sales growth per share in recent years. The fluctuations in the P/S ratio highlight evolving investor sentiment and valuation adjustments relative to the underlying sales performance. The sizable increase in share price compared to sales growth in certain periods may indicate heightened market optimism or expectation of future profitability beyond current sales figures.
Comparison to Competitors
Texas Pacific Land Corp., P/S, long-term trends, comparison to competitors
| Texas Pacific Land Corp. | Chevron Corp. | ConocoPhillips | Exxon Mobil Corp. | Occidental Petroleum Corp. | |
|---|---|---|---|---|---|
| Feb 21, 2024 | 18.48 | 1.46 | 2.33 | 1.24 | 1.78 |
| Feb 22, 2023 | 20.63 | 1.31 | 1.68 | 1.12 | 1.45 |
| Feb 23, 2022 | 17.38 | 1.69 | 2.58 | 1.17 | 1.40 |
| Feb 25, 2021 | 28.50 | 2.09 | 3.52 | 1.34 | 1.39 |
| Feb 27, 2020 | 10.72 | 1.46 | 1.94 | 0.88 | 1.44 |
| Feb 28, 2019 | 19.22 | 1.43 | 2.16 | 1.20 | 2.80 |
| Feb 28, 2018 | 31.86 | 1.56 | 2.21 | 1.35 | 4.18 |
| Feb 28, 2017 | 39.50 | 1.91 | 2.51 | 1.54 | 4.94 |
| Feb 29, 2016 | 13.90 | 1.24 | 1.38 | 1.30 | 4.27 |
| Feb 27, 2015 | 20.97 | 1.02 | 1.57 | 0.95 | 3.18 |
| Feb 28, 2014 | 26.15 | 0.98 | 1.50 | 0.98 | 3.12 |
| Mar 11, 2013 | 15.89 | 0.98 | 1.23 | 0.89 | 2.73 |
| Mar 12, 2012 | 12.39 | 0.88 | 0.39 | 0.88 | 3.55 |
| Mar 11, 2011 | 21.14 | 1.03 | 0.59 | 1.14 | 4.34 |
| Mar 12, 2010 | 21.32 | 0.87 | 0.48 | 1.02 | 4.17 |
| Mar 16, 2009 | 10.50 | 0.48 | 0.24 | 0.73 | 1.69 |
| Mar 14, 2008 | 22.73 | 0.86 | 0.67 | 1.23 | 3.22 |
| Mar 15, 2007 | 22.86 | 0.72 | 0.60 | 1.12 | 2.20 |
| Mar 16, 2006 | 19.75 | 0.66 | 0.48 | 1.01 | 2.45 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Oil, Gas & Consumable Fuels)
Texas Pacific Land Corp., P/S, long-term trends, comparison to sector (oil, gas & consumable fuels)
| Texas Pacific Land Corp. | Oil, Gas & Consumable Fuels | |
|---|---|---|
| Feb 21, 2024 | 18.48 | 1.43 |
| Feb 22, 2023 | 20.63 | 1.25 |
| Feb 23, 2022 | 17.38 | 1.47 |
| Feb 25, 2021 | 28.50 | 1.71 |
| Feb 27, 2020 | 10.72 | 1.16 |
| Feb 28, 2019 | 19.22 | 1.41 |
| Feb 28, 2018 | 31.86 | 1.57 |
| Feb 28, 2017 | 39.50 | 1.81 |
| Feb 29, 2016 | 13.90 | 1.37 |
| Feb 27, 2015 | 20.97 | 1.09 |
| Feb 28, 2014 | 26.15 | 1.09 |
| Mar 11, 2013 | 15.89 | 1.00 |
| Mar 12, 2012 | 12.39 | 0.82 |
| Mar 11, 2011 | 21.14 | 1.06 |
| Mar 12, 2010 | 21.32 | 0.93 |
| Mar 16, 2009 | 10.50 | 0.57 |
| Mar 14, 2008 | 22.73 | 1.05 |
| Mar 15, 2007 | 22.86 | 0.91 |
| Mar 16, 2006 | 19.75 | 0.82 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Energy)
Texas Pacific Land Corp., P/S, long-term trends, comparison to industry (energy)
| Texas Pacific Land Corp. | Energy | |
|---|---|---|
| Feb 21, 2024 | 18.48 | 1.47 |
| Feb 22, 2023 | 20.63 | 1.31 |
| Feb 23, 2022 | 17.38 | 1.51 |
| Feb 25, 2021 | 28.50 | 1.68 |
| Feb 27, 2020 | 10.72 | 1.19 |
| Feb 28, 2019 | 19.22 | 1.43 |
| Feb 28, 2018 | 31.86 | 1.70 |
| Feb 28, 2017 | 39.50 | 1.98 |
| Feb 29, 2016 | 13.90 | 1.45 |
| Feb 27, 2015 | 20.97 | 1.16 |
| Feb 28, 2014 | 26.15 | 1.18 |
| Mar 11, 2013 | 15.89 | 1.07 |
| Mar 12, 2012 | 12.39 | 0.89 |
| Mar 11, 2011 | 21.14 | 1.17 |
| Mar 12, 2010 | 21.32 | 1.01 |
| Mar 16, 2009 | 10.50 | 0.60 |
| Mar 14, 2008 | 22.73 | 1.14 |
| Mar 15, 2007 | 22.86 | 0.99 |
| Mar 16, 2006 | 19.75 | 0.90 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).