Dorchester Minerals, L.P. (DMLP) Financial Ratios
25 years of historical data (2001–2025) · Energy · Oil & Gas Exploration & Production
EV/EBITDA
↑
9.42
+12% vs avg
5yr avg: 8.45
30Y Low5.3·High28.9
P/FCF
↓
9.11
+1% vs avg
5yr avg: 8.98
30Y Low5.4·High33.0
P/B Ratio
↓
3.90
↓-23% vs avg
5yr avg: 5.09
30Y Low2.6·High60.5
ROE
↓
17.2%
↑-67% vs avg
5yr avg: 51.6%
30Y Low-23%·High83%
Debt/EBITDA
↓
0.01
↓-45% vs avg
5yr avg: 0.01
30Y Low0.0·High0.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
DMLP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Dorchester Minerals, L.P. trades at 20.8x earnings, 61% above its 5-year average of 12.9x, sitting at the 79th percentile of its historical range. Compared to the Energy sector median P/E of 15.5x, the stock trades at a premium of 35%. On a free-cash-flow basis, the stock trades at 9.1x P/FCF, roughly in line with the 5-year average of 9.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.1B | $1.4B | $1.2B | $1.1B | $694M | $378M | $666M | $473M | $479M | $538M |
| Enterprise Value | $1.2B | $1.0B | $1.4B | $1.2B | $1.1B | $667M | $369M | $653M | $454M | $465M | $530M |
| P/E Ratio → | 20.83 | 18.63 | 15.65 | 11.17 | 8.93 | 10.20 | 17.89 | 13.01 | 8.77 | 12.88 | 26.59 |
| P/S Ratio | 7.89 | 6.97 | 8.63 | 7.54 | 6.59 | 7.43 | 8.06 | 8.45 | 6.45 | 8.35 | 14.33 |
| P/B Ratio | 3.90 | 3.49 | 3.85 | 6.65 | 6.57 | 4.87 | 4.47 | 5.93 | — | 5.17 | 7.83 |
| P/FCF | 9.11 | 8.04 | 10.51 | 8.83 | 7.66 | 9.87 | 9.60 | 10.07 | 7.57 | 11.14 | 19.04 |
| P/OCF | 9.11 | 8.04 | 10.51 | 8.83 | 7.66 | 9.87 | 9.60 | 10.07 | 7.56 | 10.87 | 19.04 |
P/E links to full P/E history page with 30-year chart
DMLP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Dorchester Minerals, L.P.'s enterprise value stands at 9.4x EBITDA, 12% above its 5-year average of 8.4x. The Energy sector median is 7.8x, placing the stock at a 20% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.70 | 8.37 | 7.26 | 6.36 | 7.14 | 7.87 | 8.29 | 6.20 | 8.11 | 14.12 |
| EV / EBITDA | 9.42 | 8.28 | 10.00 | 8.45 | 7.25 | 8.25 | 10.86 | 9.88 | 7.23 | 9.74 | 17.99 |
| EV / EBIT | 20.32 | 17.86 | 14.63 | 10.42 | 8.32 | 9.51 | 16.89 | 12.37 | 8.43 | 12.10 | 25.28 |
| EV / FCF | — | 7.73 | 10.19 | 8.50 | 7.39 | 9.49 | 9.37 | 9.88 | 7.27 | 10.82 | 18.75 |
DMLP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Dorchester Minerals, L.P. earns an operating margin of 37.5%, significantly above the Energy sector average of 13.8%. Operating margins have compressed from 69.7% to 37.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 17.2% indicates solid capital efficiency, compared to the sector median of 7.2%. ROIC of 14.7% represents solid returns on invested capital versus a sector median of 6.2%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.2% | 46.2% | 64.6% | 76.5% | 81.3% | 80.7% | 62.5% | 74.7% | 80.3% | 75.7% | 69.1% |
| Operating Margin | 37.5% | 37.5% | 57.2% | 69.7% | 76.5% | 75.1% | 46.6% | 67.0% | 73.6% | 67.1% | 55.8% |
| Net Profit Margin | 37.5% | 37.5% | 57.2% | 67.4% | 76.5% | 75.1% | 46.6% | 67.0% | 73.6% | 67.1% | 55.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.2% | 17.2% | 33.8% | 61.8% | 83.2% | 61.8% | 22.2% | 47.0% | — | 47.7% | 29.1% |
| ROA | 17.0% | 17.0% | 33.1% | 60.1% | 80.9% | 59.7% | 21.3% | 51.5% | 59.9% | 48.3% | 29.8% |
| ROIC | 14.7% | 14.7% | 30.1% | 62.9% | 78.9% | 55.0% | 18.7% | — | — | 41.4% | 24.5% |
| ROCE | 17.2% | 17.2% | 33.7% | 63.5% | 82.4% | 60.9% | 21.8% | 52.3% | 60.3% | 48.5% | 29.9% |
DMLP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Dorchester Minerals, L.P. carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 2.6x). The company holds a net cash position — cash of $42M exceeds total debt of $777000, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.03 | 0.02 | — | — | — |
| Debt / EBITDA | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.06 | 0.04 | — | — | — |
| Net Debt / Equity | — | -0.13 | -0.11 | -0.25 | -0.23 | -0.19 | -0.11 | -0.11 | — | -0.15 | -0.12 |
| Net Debt / EBITDA | -0.33 | -0.33 | -0.31 | -0.33 | -0.26 | -0.33 | -0.27 | -0.19 | -0.29 | -0.29 | -0.28 |
| Debt / FCF | — | -0.31 | -0.31 | -0.33 | -0.27 | -0.38 | -0.23 | -0.19 | -0.29 | -0.32 | -0.29 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($42M) exceeds total debt ($777000)
DMLP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Dorchester Minerals, L.P.'s current ratio of 15.54x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 15.60x to 15.54x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 15.54 | 15.54 | 15.97 | 15.60 | 18.31 | 16.65 | 9.70 | 11.97 | 61.97 | 39.80 | 53.71 |
| Quick Ratio | 15.54 | 15.54 | 15.97 | 15.60 | 18.31 | 16.65 | 9.70 | 11.97 | 75.62 | 39.80 | 69.46 |
| Cash Ratio | 11.05 | 11.05 | 10.01 | 10.53 | 11.94 | 10.10 | 5.98 | 6.49 | 37.62 | 21.71 | 29.86 |
| Asset Turnover | — | 0.49 | 0.44 | 0.86 | 0.97 | 0.64 | 0.53 | 0.67 | 0.83 | 0.62 | 0.56 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 39.36 | 57.23 | 50.54 | 46.40 | 71.71 | 54.36 | 59.95 | 58.94 | 73.44 | 63.91 |
DMLP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Dorchester Minerals, L.P. returns 11.1% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 230.2%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 11.1% | 12.4% | 10.5% | 10.7% | 11.7% | 7.8% | 12.8% | 10.6% | 12.3% | 7.9% | 5.1% |
| Payout Ratio | 230.2% | 230.2% | 158.5% | 119.2% | 101.0% | 76.8% | 220.6% | 134.4% | 107.6% | 98.4% | 129.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 5.4% | 6.4% | 9.0% | 11.2% | 9.8% | 5.6% | 7.7% | 11.4% | 7.8% | 3.8% |
| FCF Yield | 11.0% | 12.4% | 9.5% | 11.3% | 13.1% | 10.1% | 10.4% | 9.9% | 13.2% | 9.0% | 5.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 11.1% | 12.4% | 10.5% | 10.7% | 11.7% | 7.8% | 12.8% | 10.6% | 12.3% | 7.9% | 5.1% |
| Shares Outstanding | — | $48M | $42M | $39M | $38M | $35M | $35M | $34M | $32M | $31M | $31M |
Peer Comparison
Compare DMLP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 DMLPYou | $1B | 20.8 | 9.4 | 9.1 | 46.2% | 37.5% | 17.2% | 14.7% | 0.0 |
 BSM | $3B | 10.9 | 10.5 | 10.0 | 74.9% | 61.8% | 26.6% | 16.1% | 0.5 |
 VNOM | $16B | -90.0 | 14.9 | — | 47.9% | 43.0% | -1.0% | 5.0% | 1.8 |
 TPL | $24B | 50.9 | 37.2 | 50.4 | 100.0% | 74.2% | 37.2% | 42.1% | 0.0 |
 NRP | $1B | 10.0 | 8.7 | 8.1 | 81.2% | 68.9% | 22.6% | 16.1% | 0.2 |
 TPVG | $203M | 4.1 | 8.6 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 DVN | $26B | 10.0 | 4.5 | 8.4 | 24.7% | 22.0% | 17.5% | 12.3% | 1.2 |
 EOG | $69B | 14.3 | 5.9 | 17.6 | 68.1% | 35.1% | 16.8% | 19.1% | 0.7 |
 OXY | $52B | 32.2 | 6.5 | 12.6 | 33.8% | 17.2% | 6.7% | 4.7% | 2.1 |
 FANG | $52B | 32.0 | 6.6 | 9.9 | 35.2% | 32.7% | 4.0% | 6.7% | 1.5 |
 COP | $131B | 17.0 | 6.4 | 7.8 | 24.6% | 19.6% | 12.4% | 10.4% | 1.0 |
| Energy Median | — | 15.5 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 25 years · Updated daily
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DMLP — Frequently Asked Questions
Quick answers to the most common questions about buying DMLP stock.
What is Dorchester Minerals, L.P.'s P/E ratio?
Dorchester Minerals, L.P.'s current P/E ratio is 20.8x. The historical average is 15.9x. This places it at the 79th percentile of its historical range.
What is Dorchester Minerals, L.P.'s EV/EBITDA?
Dorchester Minerals, L.P.'s current EV/EBITDA is 9.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.5x.
What is Dorchester Minerals, L.P.'s ROE?
Dorchester Minerals, L.P.'s return on equity (ROE) is 17.2%. The historical average is 33.9%.
Is DMLP stock overvalued?
Based on historical data, Dorchester Minerals, L.P. is trading at a P/E of 20.8x. This is at the 79th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Dorchester Minerals, L.P.'s dividend yield?
Dorchester Minerals, L.P.'s current dividend yield is 11.08% with a payout ratio of 230.2%.
What are Dorchester Minerals, L.P.'s profit margins?
Dorchester Minerals, L.P. has 46.2% gross margin and 37.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Dorchester Minerals, L.P. have?
Dorchester Minerals, L.P.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.