Enterprise Value (EV)
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Texas Pacific Land Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Current Enterprise Value (EV)
Texas Pacific Land Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in thousands | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.01 par value; none outstanding (per books) | |
| Total equity | |
| Add: Total debt (book value) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Texas Pacific Land Corp., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Texas Pacific Land Corp. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Equity Trends
- The common equity (market value) exhibited a significant upward trend from 2019 through 2022, increasing from approximately $5.26 billion to around $13.77 billion. This represents a growth of nearly 162%, indicating a substantial increase in market valuation and shareholder equity over this period. However, in 2023, there was a decline to approximately $11.67 billion, suggesting a partial reversal in equity value after the strong growth phase.
- Total Equity and Debt
- The figures for total equity and total equity and debt are identical throughout the period under review, indicating that the company likely has minimal or no long-term debt reported in this data. As a result, the company's financing structure appears to be predominantly equity-based. The trend in total equity and total equity and debt mirrors that of common equity, with growth from 2019 to 2022 followed by a decline in 2023.
- Enterprise Value (EV)
- Enterprise value follows a pattern largely consistent with that of equity, rising from about $4.96 billion in 2019 to a peak near $13.26 billion in 2022. This reflects expanding market capitalization and potentially improved operating performance or asset values during these years. A decrease in EV to approximately $10.95 billion occurs in 2023, paralleling the reduction seen in equity values. The decline in EV may reflect changes in market conditions, asset valuations, or operational factors affecting overall company valuation.
- Overall Observations
- The data presents a clear growth trajectory in financial valuations from 2019 to 2022, followed by a notable contraction in 2023. The parity between total equity and total equity and debt suggests an absence of significant liabilities impacting total capitalization. The company’s market value and enterprise value increase substantially over the initial years, indicating strengthening financial position and investor confidence, before facing some pressures or adjustments in the most recent year.