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DMLPDorchester Minerals, L.P.
$25.00$1.2B
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DMLP logoDorchester Minerals, L.P.(DMLP)Earnings, Financials & Key Ratios

DMLP•NASDAQ
20.8× P/E·Price updated Jun 19, 2026
SectorEnergyIndustryOil & Gas E&PSub-IndustryMineral and royalty interest owners
AboutDorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States. Its royalty properties consist of producing and nonproducing mineral, royalty, and overriding royalty interests located in 582 counties and parishes in 26 states; and net profits interests represent net profits overriding royalty interests in various properties owned by the operating partnership. Dorchester Minerals Management LP serves as the general partner of Dorchester Minerals, L.P. The company was founded in 1982 and is based in Dallas, Texas.Show more
  • Revenue$153M-5.4%
  • EBITDA$124M-8.6%
  • Net Income$57M-38.0%
  • EPS (Diluted)1.20-43.7%
  • Gross Margin46.24%-28.4%
  • EBITDA Margin80.91%-3.4%
  • Operating Margin37.53%-34.4%
  • Net Margin37.53%-34.4%
  • ROE17.2%-49.1%

DMLP Key Insights

Dorchester Minerals, L.P. (DMLP) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Excellent 3Y average ROE of 37.6%
  • ✓Strong 5Y profit CAGR of 21.3%
  • ✓FCF machine: 86.7% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 26.6%

✗Weaknesses

  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 14.0% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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DMLP Price & Volume

Dorchester Minerals, L.P. (DMLP) stock price & volume — 10-year historical chart

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DMLP Growth Metrics

Dorchester Minerals, L.P. (DMLP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years16.97%
5 Years26.64%
3 Years-3.64%
TTM-2.97%

Profit CAGR

10 Years15.78%
5 Years21.27%
3 Years-23.99%
TTM-23.59%

EPS CAGR

10 Years11.07%
5 Years14.49%
3 Years-28.98%
TTM-31.1%

Return on Capital

10 Years47.04%
5 Years51.54%
3 Years38.11%
Last Year17.16%

DMLP Recent Earnings

Dorchester Minerals, L.P. (DMLP) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$0.60
—
Rev
$59M
—
Q2 2026
May 6, 2026
Metric
Actual
Est
EPS
$0.59
—
Rev
$59M
—
Q1 2026
Feb 24, 2026
Metric
Actual
Est
EPS
$0.32
—
Rev
$42M
—
Q4 2025
Nov 6, 2025
Metric
Actual
Est
EPS
$0.23
—
Rev
$35M
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$0.60
$59M
Q2 2026May 6, 2026
$0.59
$59M
Q1 2026Feb 24, 2026
$0.32
$42M
Q4 2025Nov 6, 2025
$0.23
$35M
Based on last 12 quarters of dataView full earnings history →

DMLP Peer Comparison

Dorchester Minerals, L.P. (DMLP) competitors in Mineral and royalty interest owners — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
BSM logoBSMBlack Stone Minerals, L.P.Direct Competitor2.97B14.0110.95-3.89%63.48%35.46%0.14
VNOM logoVNOMViper Energy, Inc.Direct Competitor15.51B43.21-90.0256.56%-2.88%-0.46%0.21
TPL logoTPLTexas Pacific Land CorporationProduct Competitor24.49B355.1150.9513.09%60.03%35.52%0.02
NRP logoNRPNatural Resource Partners L.P.Product Competitor1.34B100.7910.04-17.42%51.63%15.45%0.05
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Product Competitor202.99M5.004.1036.55%-19.55%-3.39%1.33
DVN logoDVNDevon Energy CorporationSupply Chain26.18B42.1210.0310.01%17.55%18.6%0.57
EOG logoEOGEOG Resources, Inc.Supply Chain69.23B129.9814.27-3.47%23.41%18.28%0.28
OXY logoOXYOccidental Petroleum CorporationSupply Chain51.54B51.8232.19-20.32%20.31%12.63%0.65

Compare DMLP vs Peers

Dorchester Minerals, L.P. (DMLP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BSM

Most directly comparable listed peer for DMLP.

Scale Benchmark

vs COP

Larger-name benchmark to compare DMLP against a more recognizable public peer.

Peer Set

Compare Top 5

vs BSM, VNOM, TPL, NRP

DMLP Income Statement

Dorchester Minerals, L.P. (DMLP) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
57.29M73.28M78.8M46.93M93.42M170.8M163.8M161.52M152.83M168.54M
Revenue Growth %
52.54%27.9%7.53%-40.45%99.08%82.82%-4.1%-1.39%-5.38%-2.97%
Cost of Goods Sold
13.94M14.46M19.95M17.6M18.06M31.97M38.52M57.14M82.16M69.44M
COGS % of Revenue
24.33%19.73%25.31%37.51%19.33%18.72%23.52%35.38%53.76%-
Gross Profit
43.35M▲ 0%
58.82M▲ 35.7%
58.85M▲ 0.1%
29.33M▼ 50.2%
75.36M▲ 157.0%
138.83M▲ 84.2%
125.28M▼ 9.8%
104.38M▼ 16.7%
70.68M▼ 32.3%
99.11M▲ 0%
Gross Margin %
75.67%80.27%74.69%62.49%80.67%81.28%76.48%64.62%46.24%58.8%
Gross Profit Growth %
67.02%35.67%0.05%-50.17%156.98%84.21%-9.76%-16.68%-32.29%-
Operating Expenses
4.93M4.91M6.09M7.46M5.19M8.22M11.16M11.93M13.32M13.27M
OpEx % of Revenue
8.61%6.7%7.72%15.89%5.55%4.81%6.82%7.39%8.72%-
Selling, General & Admin
4.93M4.91M6.09M7.46M5.19M8.22M11.16M11.93M13.32M10.27M
SG&A % of Revenue
8.61%6.7%7.72%15.89%5.55%4.81%6.82%7.39%8.72%-
Research & Development
0000000000
R&D % of Revenue
----------
Other Operating Expenses
0000000001000K
Operating Income
38.42M▲ 0%
53.91M▲ 40.3%
52.77M▼ 2.1%
21.87M▼ 58.6%
70.17M▲ 220.9%
130.61M▲ 86.1%
114.12M▼ 12.6%
92.45M▼ 19.0%
57.35M▼ 38.0%
85.84M▲ 0%
Operating Margin %
67.07%73.57%66.96%46.6%75.11%76.47%69.67%57.24%37.53%50.93%
Operating Income Growth %
83.26%40.3%-2.12%-58.56%220.91%86.12%-12.63%-18.99%-37.96%-
EBITDA
47.73M62.85M66.07M34.02M80.86M149.9M140.62M135.22M123.65M156.28M
EBITDA Margin %
83.3%85.77%83.84%72.49%86.55%87.76%85.85%83.71%80.91%92.73%
EBITDA Growth %
61.93%31.7%5.11%-48.51%137.72%85.38%-6.19%-3.84%-8.55%8.27%
D&A (Non-Cash Add-back)
9.3M8.95M13.3M12.15M10.69M19.29M26.5M42.77M66.3M70.45M
EBIT
38.42M53.91M52.77M21.87M70.17M130.61M114.12M92.45M57.35M68.85M
Net Interest Income
8.01M000000000
Interest Income
8.01M000000000
Interest Expense
0000000000
Other Income/Expense
000000000-16.99M
Pretax Income
38.42M▲ 0%
53.91M▲ 40.3%
52.77M▼ 2.1%
21.87M▼ 58.6%
70.17M▲ 220.9%
130.61M▲ 86.1%
114.12M▼ 12.6%
92.45M▼ 19.0%
57.35M▼ 38.0%
68.85M▲ 0%
Pretax Margin %
67.07%73.57%66.96%46.6%75.11%76.47%69.67%57.24%37.53%40.85%
Income Tax
0000000000
Effective Tax Rate %
0%0%0%0%0%0%0%0%0%0%
Net Income
38.42M▲ 0%
53.91M▲ 40.3%
52.77M▼ 2.1%
21.87M▼ 58.6%
70.17M▲ 220.9%
130.61M▲ 86.1%
110.39M▼ 15.5%
92.45M▼ 16.3%
57.35M▼ 38.0%
68.85M▲ 0%
Net Margin %
67.07%73.57%66.96%46.6%75.11%76.47%67.39%57.24%37.53%40.85%
Net Income Growth %
83.26%40.3%-2.12%-58.56%220.91%86.12%-15.48%-16.25%-37.96%-23.59%
Net Income (Continuing)
38.42M53.91M52.77M21.87M70.17M130.61M114.12M92.45M57.35M68.85M
Discontinued Operations
0000000000
Minority Interest
1.78M1.83M1.23M536K982K676K113K-2M-4.83M-5.17M
EPS (Diluted)
1.18▲ 0%
1.67▲ 41.5%
1.50▼ 10.2%
0.61▼ 59.3%
1.94▲ 218.0%
3.35▲ 72.7%
2.85▼ 14.9%
2.13▼ 25.3%
1.20▼ 43.7%
1.43▲ 0%
EPS Growth %
78.79%41.53%-10.18%-59.33%218.03%72.68%-14.93%-25.26%-43.66%-31.1%
EPS (Basic)
1.181.671.500.611.943.352.852.131.20-
Diluted Shares Outstanding
31.49M32.28M34.13M34.68M35.05M37.62M38.78M41.81M47.65M48.26M
Basic Shares Outstanding
31.49M32.28M34.13M34.68M35.05M37.62M38.78M41.81M47.65M48.26M
Dividend Payout Ratio
98.37%107.6%134.37%220.62%76.82%100.99%119.18%158.49%230.19%-

DMLP Balance Sheet

Dorchester Minerals, L.P. (DMLP) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
25.36M30.12M28.28M18.22M46.66M62.47M69.71M67.83M58.94M74.44M
Cash & Short-Term Investments
13.83M18.29M15.34M11.23M28.31M40.75M47.02M42.51M41.94M28.16M
Cash Only
13.83M18.29M15.34M11.23M28.31M40.75M47.02M42.51M41.94M28.16M
Short-Term Investments
0000000000
Accounts Receivable
11.53M11.83M12.94M6.99M18.36M21.71M22.68M25.32M16.48M45.89M
Days Sales Outstanding
73.4458.9459.9554.3671.7146.450.5457.2339.3657.64
Inventory
0-6.63M00000000
Days Inventory Outstanding
----------
Other Current Assets
00000000526K393K
Total Non-Current Assets
66.69M57.8M88.6M70.11M100.15M113.78M121.36M298.98M250.61M227.18M
Property, Plant & Equipment
66.69M57.8M88.6M70.11M100.15M113.78M121.36M298.98M423K384K
Fixed Asset Turnover
0.86x1.27x0.89x0.67x0.93x1.50x1.35x0.54x361.30x1.26x
Goodwill
0000000000
Intangible Assets
0000000000
Long-Term Investments
0000000000
Other Non-Current Assets
00000000250.19M226.8M
Total Assets
92.05M▲ 0%
87.92M▼ 4.5%
116.88M▲ 32.9%
88.33M▼ 24.4%
146.81M▲ 66.2%
176.24M▲ 20.1%
191.06M▲ 8.4%
366.81M▲ 92.0%
309.55M▼ 15.6%
301.63M▲ 0%
Asset Turnover
0.62x0.83x0.67x0.53x0.64x0.97x0.86x0.44x0.49x0.53x
Asset Growth %
36.95%-4.48%32.94%-24.43%66.21%20.05%8.41%91.98%-15.61%37.7%
Total Current Liabilities
637K486K2.36M1.88M2.8M3.41M4.47M4.25M3.79M4.48M
Accounts Payable
599K421K2.05M1.58M2.51M3.13M4.2M3.98M3.54M4.23M
Days Payables Outstanding
15.6910.6337.5532.7250.7735.7439.7525.4515.7224.46
Short-Term Debt
00310K0291K281K00256K252K
Deferred Revenue (Current)
000000-272K000
Other Current Liabilities
38K65K0000272K000
Current Ratio
39.80x61.97x11.97x9.70x16.65x18.31x15.60x15.97x15.54x16.61x
Quick Ratio
39.80x75.62x11.97x9.70x16.65x18.31x15.60x15.97x15.54x16.61x
Cash Conversion Cycle
---------33.17
Total Non-Current Liabilities
664K790K2.18M1.89M1.59M1.31M1.04M777K521K461K
Long-Term Debt
0000000000
Capital Lease Obligations
002.19M1.89M1.59M1.31M1.04M777K521K2.21M
Deferred Tax Liabilities
0000000000
Other Non-Current Liabilities
664K790K01000000
Total Liabilities
1.3M1.28M4.55M3.76M4.4M4.72M5.51M5.02M4.32M4.94M
Total Debt
002.5M2.19M1.89M1.59M1.31M1.04M777K713K
Net Debt
-13.83M-18.29M-12.84M-9.05M-26.42M-39.16M-45.71M-41.47M-41.16M-27.44M
Debt / Equity
--0.02x0.03x0.01x0.01x0.01x0.00x0.00x0.00x
Debt / EBITDA
--0.04x0.06x0.02x0.01x0.01x0.01x0.01x0.00x
Net Debt / EBITDA
-0.29x-0.29x-0.19x-0.27x-0.33x-0.26x-0.33x-0.31x-0.33x-0.18x
Interest Coverage
----------
Total Equity
92.53M▲ 0%
-305.19M▼ 429.8%
112.34M▲ 136.8%
84.56M▼ 24.7%
142.41M▲ 68.4%
171.52M▲ 20.4%
185.56M▲ 8.2%
361.79M▲ 95.0%
305.24M▼ 15.6%
296.68M▲ 0%
Equity Growth %
34.6%-429.83%136.81%-24.72%68.41%20.44%8.19%94.97%-15.63%39.98%
Book Value per Share
2.94-9.453.292.444.064.564.788.656.416.15
Total Shareholders' Equity
90.75M-307.01M111.11M84.03M141.43M170.84M185.44M363.79M310.06M301.86M
Common Stock
88.96M84.82M111.11M84.03M141.43M170.84M185.44M363.79M310.06M301.86M
Retained Earnings
0000000000
Treasury Stock
0000000000
Accumulated OCI
-298.07M-307.01M00000000
Minority Interest
1.78M1.83M1.23M536K982K676K113K-2M-4.83M-5.17M

DMLP Cash Flow Statement

Dorchester Minerals, L.P. (DMLP) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
44.03M62.52M66.11M39.41M70.31M147.05M139.84M132.64M132.49M123M
Operating CF Margin %
76.85%85.32%83.9%83.97%75.25%86.1%85.37%82.12%86.69%-
Operating CF Growth %
55.7%42.01%5.73%-40.39%78.41%109.16%-4.9%-5.15%-0.12%-37.47%
Net Income
38.42M53.91M52.77M21.16M67.83M126.12M110.39M92.45M55.25M68.85M
Depreciation & Amortization
9.3M8.95M13.56M12.15M10.69M19.29M26.5M42.77M66.46M70.49M
Stock-Based Compensation
0000000000
Deferred Taxes
0000000000
Other Non-Cash Items
9.28M8.91M0705K2.35M4.49M3.73M02.13M12.19M
Working Capital Changes
-3.67M-292K-213K5.39M-10.56M-2.85M-776K-2.58M8.64M-26.17M
Change in Receivables
-1.73M-437K395K2.21M-5.97M-3.14M-442K-1.78M9.05M-26.93M
Change in Inventory
-3.1M132K00000000
Change in Payables
455K-178K324K-474K623K930K1.05M-522K-135K691K
Cash from Investing
-616K-60K1.84M6.13M2.58M2.09M2.28M14.72M3.89M1.95M
Capital Expenditures
-1.06M-60K00000000
CapEx % of Revenue
1.84%0.08%-------0%
Acquisitions
440K-19K1.41M6.13M2.32M2.09M2.28M14.72M3.89M3.44M
Investments
----------
Other Investing
440K-19K439K0262K0000-1.49M
Cash from Financing
-37.8M-58.01M-70.9M-49.64M-55.81M-136.69M-135.85M-151.88M-136.94M-138.34M
Debt Issued (Net)
0000000000
Equity Issued (Net)
0000000000
Dividends Paid
-37.8M-58.01M-70.9M-48.24M-53.91M-131.9M-131.56M-146.52M-132.02M-137.18M
Share Repurchases
0000000000
Other Financing
000-1.4M-1.9M-4.79M-4.29M-5.36M-4.93M-1.16M
Net Change in Cash
5.62M▲ 0%
4.46M▼ 20.6%
-2.95M▼ 166.1%
-4.11M▼ 39.4%
17.07M▲ 515.7%
12.45M▼ 27.1%
6.27M▼ 49.6%
-4.52M▼ 172.0%
-571K▲ 87.4%
-13.39M▲ 0%
Free Cash Flow
42.97M▲ 0%
62.46M▲ 45.4%
66.11M▲ 5.8%
39.41M▼ 40.4%
70.31M▲ 78.4%
147.05M▲ 109.2%
139.84M▼ 4.9%
132.64M▼ 5.2%
132.49M▼ 0.1%
123M▲ 0%
FCF Margin %
75.01%85.24%83.9%83.97%75.25%86.1%85.37%82.12%86.69%72.98%
FCF Growth %
51.96%45.36%5.84%-40.39%78.41%109.16%-4.9%-5.15%-0.12%-10.91%
FCF per Share
1.361.941.941.142.013.913.613.172.782.55
FCF Conversion (FCF/Net Income)
1.15x1.16x1.25x1.80x1.00x1.13x1.27x1.43x2.31x1.79x
Interest Paid
0000000000
Taxes Paid
0000000000

DMLP Key Ratios

Dorchester Minerals, L.P. (DMLP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
47.65%-46.97%22.21%61.83%83.21%61.83%33.78%17.2%22.11%
Return on Invested Capital (ROIC)
41.4%--18.74%54.96%78.89%62.89%30.14%14.72%23.4%
Gross Margin
75.67%80.27%74.69%62.49%80.67%81.28%76.48%64.62%46.24%58.8%
Net Margin
67.07%73.57%66.96%46.6%75.11%76.47%67.39%57.24%37.53%40.85%
Debt / Equity
--0.02x0.03x0.01x0.01x0.01x0.00x0.00x0.00x
FCF Conversion
1.15x1.16x1.25x1.80x1.00x1.13x1.27x1.43x2.31x1.79x
Revenue Growth
52.54%27.9%7.53%-40.45%99.08%82.82%-4.1%-1.39%-5.38%-2.97%
Related:DMLP Dividend History·DMLP Revenue History·DMLP Price History·DMLP P/E History·DMLP Financial Ratios·DMLP Institutional Holders

DMLP SEC Filings & Documents

Dorchester Minerals, L.P. (DMLP) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 15, 2026·SEC

Material company update

May 12, 2026·SEC

Material company update

May 6, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 6, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

DMLP Frequently Asked Questions

Dorchester Minerals, L.P. (DMLP) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Dorchester Minerals, L.P. (DMLP) reported $168.5M in revenue for fiscal year 2025. This represents a 529% increase from $26.8M in 2001.

Dorchester Minerals, L.P. (DMLP) saw revenue decline by 5.4% over the past year.

Yes, Dorchester Minerals, L.P. (DMLP) is profitable, generating $68.8M in net income for fiscal year 2025 (37.5% net margin).

Dividend & Returns

Yes, Dorchester Minerals, L.P. (DMLP) pays a dividend with a yield of 11.08%. This makes it attractive for income-focused investors.

Dorchester Minerals, L.P. (DMLP) has a return on equity (ROE) of 17.2%. This is reasonable for most industries.

Dorchester Minerals, L.P. (DMLP) generated $123.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in DMLP back in 2001?

Total return calculator · dividends reinvested · 25+ years of data

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How much would $100/month in DMLP be worth today?

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