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 $23.9B against $19.8B — 1.2× the size. Permian Resources Corporation trades at the lower P/E: 15.9× against 44.7×. 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 (2.57% vs 0.67%). 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 15.95 44.70 11.01
P/S 3.58 26.95 1.98
P/B 1.71 14.47 1.30
Price to free cash flow 18.92 62.82 10.68
EV/EBITDA 5.72 32.34 5.09
EV/Sales 4.13 26.68 2.63
Earnings yield 6.27% 2.24% 5.78%
Free cash flow yield 5.29% 1.59% 4.91%

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% 8.18%
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% (10.50%)
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) 0.89

Dividend

Metric PR TPL Oil & Gas E&P median
Dividend yield 2.57% 0.67% 3.29%
Payout ratio 0.42 0.30 0.35

Size

Metric PR TPL Oil & Gas E&P median
Market cap 19.77b 23.90b 1.04b

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