TPL vs. LB

Last updated Apr 1, 2026

Compare and contrast key facts about Texas Pacific Land Corporation (TPL) and LandBridge Company LLC (LB).

Performance

TPL vs. LB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Pacific Land Corporation (TPL) and LandBridge Company LLC (LB). The values are adjusted to include any dividend payments, if applicable.

TPL vs. LB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TPL Texas Pacific Land Corporation	65.41%	-21.61%	53.06%
LB LandBridge Company LLC	41.17%	-23.67%	179.45%

Fundamentals

Market Cap TPL : $32.76B LB : $5.28B
EPS TPL : $6.97 LB : $0.32
PE Ratio TPL : 68.06 LB : 217.24
PS Ratio TPL : 41.04 LB : 29.52
PB Ratio TPL : 22.45 LB : 19.43
Total Revenue (TTM) TPL : $798.19M LB : $178.81M
Gross Profit (TTM) TPL : $798.19M LB : $165.68M
EBITDA (TTM) TPL : $655.46M LB : $112.73M

Returns By Period

In the year-to-date period, TPL achieves a 65.41% return, which is significantly higher than LB's 41.17% return.

TPL

• 1D: 1.54%
• 1M: -9.38%
• YTD: 65.41%
• 6M: 52.94%
• 1Y: 8.11%
• 3Y*: 37.44%
• 5Y*: 23.18%
• 10Y*: 41.62%

LB

• 1D: 1.50%
• 1M: -7.17%
• YTD: 41.17%
• 6M: 29.85%
• 1Y: -3.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TPL vs. LB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TPL

TPL Risk / Return Rank: 46
TPL Sharpe Ratio Rank: 48
TPL Sortino Ratio Rank: 45
TPL Omega Ratio Rank: 44
TPL Calmar Ratio Rank: 48
TPL Martin Ratio Rank: 46

LB

LB Risk / Return Rank: 40
LB Sharpe Ratio Rank: 39
LB Sortino Ratio Rank: 39
LB Omega Ratio Rank: 39
LB Calmar Ratio Rank: 42
LB Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TPL vs. LB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Pacific Land Corporation (TPL) and LandBridge Company LLC (LB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TPL	LB	Difference
Sharpe ratio Return per unit of total volatility	0.17	-0.05	+0.22
Sortino ratio Return per unit of downside risk	0.58	0.38	+0.20
Omega ratio Gain probability vs. loss probability	1.08	1.05	+0.03
Calmar ratio Return relative to maximum drawdown	0.23	-0.01	+0.23
Martin ratio Return relative to average drawdown	0.35	-0.01	+0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPL vs. LB - Sharpe Ratio Comparison

The current TPL Sharpe Ratio is 0.17, which is higher than the LB Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of TPL and LB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TPL	LB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	-0.05	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.27	-0.69

Correlation

The correlation between TPL and LB is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TPL vs. LB - Dividend Comparison

TPL's dividend yield for the trailing twelve months is around 0.46%, less than LB's 0.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TPL Texas Pacific Land Corporation	0.46%	0.74%	1.37%	0.83%	1.37%	0.88%	2.20%	0.22%	0.55%	0.30%	0.10%	0.22%
LB LandBridge Company LLC	0.61%	0.82%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TPL vs. LB - Drawdown Comparison

The maximum TPL drawdown since its inception was -73.05%, which is greater than LB's maximum drawdown of -48.25%. Use the drawdown chart below to compare losses from any high point for TPL and LB.

Drawdown Indicators

	TPL	LB	Difference
Max Drawdown Largest peak-to-trough decline	-73.05%	-48.25%	-24.80%
Max Drawdown (1Y) Largest decline over 1 year	-42.34%	-48.25%	+5.91%
Max Drawdown (5Y) Largest decline over 5 years	-52.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.46%	—	—
Current Drawdown Current decline from peak	-17.02%	-19.02%	+2.00%
Average Drawdown Average peak-to-trough decline	-27.26%	-19.14%	-8.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.98%	28.26%	-0.28%

Volatility

TPL vs. LB - Volatility Comparison

The current volatility for Texas Pacific Land Corporation (TPL) is 11.83%, while LandBridge Company LLC (LB) has a volatility of 16.39%. This indicates that TPL experiences smaller price fluctuations and is considered to be less risky than LB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPL	LB	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.83%	16.39%	-4.56%
Volatility (6M) Calculated over the trailing 6-month period	32.57%	48.60%	-16.03%
Volatility (1Y) Calculated over the trailing 1-year period	48.59%	63.74%	-15.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.74%	69.39%	-23.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.53%	69.39%	-22.86%

Financials