Permian Resources Corporation (PR) vs Texas Pacific Land Corporation (TPL)

Permian Resources Corporation and Texas Pacific Land Corporation are both Oil & Gas E&P companies. Texas Pacific Land Corporation is the larger, with a market value of $23.3B against $18.2B — 1.3× the size. Permian Resources Corporation trades at the lower P/E: 13.9× against 43.5×. Texas Pacific Land Corporation grew revenue faster over the last twelve months: 20.8% against 12.8%. Texas Pacific Land Corporation has the higher net margin (60.3% vs 21.5%) and the higher return on invested capital (29.5% vs 8.64%). Both pay a dividend; Permian Resources Corporation yields more (2.49% vs 0.88%). Across the 23 metrics below, Texas Pacific Land Corporation leads on 13 and Permian Resources Corporation on 10.

Valuation

Metric PR TPL Oil & Gas E&P median
P/E 13.87 43.47 10.57
P/S 3.12 26.21 1.80
P/B 1.49 14.07 1.27
Price to free cash flow 16.45 61.09 9.99
EV/EBITDA 5.08 31.44 5.08
EV/Sales 3.67 25.93 2.39
Earnings yield 7.21% 2.30% 6.06%
Free cash flow yield 6.08% 1.64% 6.17%

Profitability

Metric PR TPL Oil & Gas E&P median
Gross margin 75.85% 100.00% 80.41%
Operating margin 35.84% 74.92% 21.39%
Net margin 21.52% 60.32% 14.17%
Free cash flow margin 18.95% 42.90% 9.71%
Return on equity 10.78% 36.57% 10.05%
Return on assets 6.86% 33.17% 5.81%
Return on invested capital 8.64% 29.52% 6.32%

Growth

Metric PR TPL Oil & Gas E&P median
Revenue growth (TTM) 12.81% 20.82% 9.94%
EPS growth (last fiscal year) (11.72%) 6.04% —
Revenue growth, 5-year CAGR 54.23% 21.41% 18.67%
Net income growth, 5-year CAGR 0.00% 22.28% 0.00%

Health

Metric PR TPL Oil & Gas E&P median
Debt to equity 0.25 0.00 0.28
Current ratio 0.62 10.86 0.96
Net debt to EBITDA 0.97 (0.22) 0.91

Dividend

Metric PR TPL Oil & Gas E&P median
Dividend yield 2.49% 0.88% 4.93%
Payout ratio 0.00 0.23 0.07

Size

Metric PR TPL Oil & Gas E&P median
Market cap 18.15b 23.28b 923.59m

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