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DMLPDorchester Minerals, L.P.
$29.10$1.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
DMLP logo

Dorchester Minerals, L.P.

DMLP
NASDAQ · Oil & Gas E&P
$29.10
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$1.4B
P/E24.3x
52W High$30.54
Volume87.41K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Zero-Debt Royalty Model Delivers 10% Yield Amid Commodity Swings

Dorchester Minerals' royalty and NPI structure generates high-margin, low-capex cash flows, evidenced by a 114.5% FCF margin and zero capex in 2026Q2. The fortress balance sheet (D/E of 0.01) and ample liquidity ($72.5M cash) support a sustainable 10.0% distri...

GrowthDecelerating
ProfitabilityStable
ValuationAttractive
TechnicalsHealthy
Explore valuation models
MARKET ACTION

DMLP price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

0/12 Beats

EPS beat 0 of last 12 quarters

02

Valuation risk

+59% Peers

P/E is 59% above peer median

03

Market leadership

RS 74 · Avg

Average momentum (RS Rating: 74)

04

Healthy Uptrend

Uptrend

Price > 50DMA > 200DMA

Next CatalystConfirmed earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
DMLP+35.93%
S&P 500 (^GSPC)+13.20%
1-Year Return
DMLP+28.45%
S&P 500 (^GSPC)+15.98%
3-Year Return
DMLP+34.14%
S&P 500 (^GSPC)+78.23%
5-Year Return
DMLP+162.27%
S&P 500 (^GSPC)+72.63%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
24.3x
Forward P/E
N/A
EV/EBITDA100th %ile
11.0x
FCF YieldCash Flow
9.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
24.3x
11.2x
100th· High
EV/EBITDA
11.0x
8.3x
100th· High
Price/FCF
10.6x
8.8x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$20.78-28.6%
Base (Fair)$31.54+5.9%
Bull$46.30+59.1%
$20.78 Bear$31.54 Base$46.30 Bull
Current Market Price: $29.10
Trades at a 7.7% discount to Base DCF ($31.54)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$153M-5.4% YoY
Net income
$57M-38.0% YoY
Free cash flow
$132M-0.1% YoY
Operating margin
37.5%-19.7 pts YoY
ROIC (TTM)14.7%
Avg ROIC 5Y-
ROE (TTM)17.2%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.62
vs —
$56M
vs —
Q2 2026
May 7, 2026
$0.60
vs —
$59M
vs —
Q2 2026
May 6, 2026
$0.59
vs —
$59M
vs —
Q1 2026
Feb 24, 2026
$0.32
vs —
$42M
vs —
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·Sep 14, 2026
3 Leading Picks To Ride Through The Midterm Election Volatility

Harley-Davidson (HOG), Dorchester Minerals (DMLP), and DHT Holdings (DHT) are highlighted as top portfolio picks amid September and midterm election volatility. HOG benefits from strong institutional accumulation, consecutive earnings beats, rising EPS, and aggressive buybacks, though outperformance may moderate after a 48% six-month gain. DMLP leverages CFO insider buying, robust YTD returns, and dollar weakness, with high dividends and accumulation supporting its defensive appeal in volatile markets.

GlobeNewsWire·Aug 6, 2026
Dorchester Minerals, L.P. Announces Second Quarter Results

DALLAS, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announced today the Partnership's net income for the quarter ended June 30, 2026 of $30,871,000, or $0.62 per common unit.

GlobeNewsWire·Aug 3, 2026
Dorchester Minerals, L.P. Announces Acquisition of Mineral and Royalty Interests

DALLAS, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (the “Partnership”) (NASDAQ-DMLP) announces today the closing of the previously announced acquisition of mineral and royalty interests totaling approximately 3,100 net royalty acres located in five counties across the Williston Basin in North Dakota.

GlobeNewsWire·Jul 23, 2026
Dorchester Minerals, L.P. Announces Its Second Quarter Distribution

DALLAS, July 23, 2026 (GLOBE NEWSWIRE) -- Dorchester Minerals, L.P. (NASDAQ:DMLP) announced today the Partnership's second quarter 2026 cash distribution.

Filtered for Dorchester Minerals, L.P.More Headlines
04

Compare before deciding

Benchmark DMLP against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Dorchester Minerals, L.P. (DMLP)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
DMLP logoDMLPDorchester Minerals, L.P.Current
$29.10$1.4B24.25-5.38%37.53%17.2%9.52%
BSM logoBSMBlack Stone Minerals, L.P.
$14.76$3.14B11.53-3.89%58.63%25.56%—
VNOM logoVNOMViper Energy, Inc.
$40.77$14.68B-84.9456.56%3%0.56%—
TPL logoTPLTexas Pacific Land Corporation
$355.24$24.5B50.9713.09%60.32%35.77%—
NRP logoNRPNatural Resource Partners L.P.
$109.76$1.45B10.93-17.42%54%16.56%—
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.
$4.91$199.34M4.0255.25%45.97%10.97%—

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

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

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

Aug 7, 2026·SEC

Material company update

Aug 3, 2026·SEC

Material company update

Jul 23, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 20, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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DMLP Frequently Asked Questions

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

Growth & Financials
What is Dorchester Minerals, L.P.'s revenue?

Dorchester Minerals, L.P. (DMLP) reported $192.2M in revenue for fiscal year 2025. This represents a 618% increase from $26.8M in 2001.

How fast is Dorchester Minerals, L.P. growing?

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

Is DMLP profitable?

Yes, Dorchester Minerals, L.P. (DMLP) is profitable, generating $87.8M in net income for fiscal year 2025 (37.5% net margin).

Dividend & Returns
Does DMLP pay dividends?

Yes, Dorchester Minerals, L.P. (DMLP) pays a dividend with a yield of 9.52%. This makes it attractive for income-focused investors.

What is DMLP's return on equity?

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

What is Dorchester Minerals, L.P.'s free cash flow?

Dorchester Minerals, L.P. (DMLP) generated $156.7M 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

See returns →