Texas Pacific Land Corporation: Back To Normal

Texas Pacific Land's asset-light royalty model, high margins, and debt-free balance sheet justify a premium valuation despite recent volatility. Recent free cash flow drop and policy shifts triggered a sharp correction, but acquisitions have expanded TPL's royalty footprint and diversified revenue. Current price normalization after a 2024 bubble presents a compelling long-term buying opportunity, with a fair value estimated near $836/share.