Texas Pacific Land: An Atypical Real Estate Growth Stock

Two distinct business lines A pristine balance sheet justifies an expensive valuation Risk factors to my case I usually do not start with the history of a company to present my investment thesis, but Texas Pacific Land Corp. (TPL, Financial) is such an atypical enterprise that it is better to start from the beginning. Its historical background explains its current business model. Founded in 1871, Texas and Pacific Railway Company was created through a federal charter to build a railway that would link East ...