Texas Pacific Land's Enterprise Value for the quarter that ended in Dec. 2023 was $11,335.5 Mil.
Texas Pacific Land's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $486.1 Mil. Texas Pacific Land's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 4.29%.
The historical rank and industry rank for Texas Pacific Land's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
TPL'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.57 Med: 4.1 Max: 16.4
Current: 3.81
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Texas Pacific Land was 16.40%. The lowest was 1.57%. And the median was 4.10%.
TPL's Earnings Yield (Joel Greenblatt) % is ranked worse than 58.53% of 1090
companies
in the Oil & Gas industry
Industry Median: 6.495
vs TPL: 3.81
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Texas Pacific Land's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 16.06%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Texas Pacific Land Earnings Yield (Joel Greenblatt) % Historical Data
The historical data trend for Texas Pacific Land's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas E&P subindustry, Texas Pacific Land's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Texas Pacific Land Earnings Yield (Joel Greenblatt) % Distribution
For the Oil & Gas industry and Energy sector, Texas Pacific Land's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Texas Pacific Land's Earnings Yield (Joel Greenblatt) % falls into.
Texas Pacific Land Earnings Yield (Joel Greenblatt) % Calculation
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
Texas Pacific Lands Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as
Texas Pacific Land's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $486.1 Mil.
Texas Pacific Land (NYSE:TPL) Earnings Yield (Joel Greenblatt) % Explanation
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
Texas Pacific Land Earnings Yield (Joel Greenblatt) % Related Terms
Thank you for viewing the detailed overview of Texas Pacific Land's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.
Texas Pacific Land (Texas Pacific Land) Business Description
Texas Pacific Land Corp is mainly engaged in sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. It operates its business in two segments including Land and Resource Management and Water Service and Operations. The Land and Resource Management segment focuses on managing its oil and gas royalty interest and surface acres located in 19 different counties. The Water Service and Operations segment includes Water Sourcing, Produced Water Gathering / Treatment / Recycling, Infrastructure Development, Produced Water Disposal, Water Tracking / Analytics / Well Testing.
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