Dorchester Minerals, L.P. (DMLP)
Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of royalty properties in the United States. Its royalty properties include producing and nonproducing mineral, royalty, overriding royalty, net profits, and leasehold interests in 594 counties and parishes in 28 states; and net profits interests, which represent net profits overriding royalty interests in various properties owned by the operating partnership. The company was founded in 1982 and is based in Dallas, Texas.
- Symbol
- DMLP
- Exchange
- Nasdaq
- Sector
- Energy
- Industry
- Oil & Gas E&P
- Market cap
- $1.40B
- 52 week range
- 20.85 - 30.54
Valuation
- Share price
- $29.11 (close of 2026-09-23)
- P/E (TTM)
- 16.54x
- Price to book
- 4.63x
- Price to free cash flow
- 8.96x
- Enterprise value
- $1.34B
- Book value per share
- $6.29
Price performance
| Period | Change |
|---|
| 1 day | -1.05% |
| 5 days | -4.27% |
| 1 month | +0.31% |
| 3 months | +11.06% |
| 6 months | +5.97% |
| Year to date | +30.19% |
| 1 year | +14.25% |
| 3 years | +0.86% |
| 5 years | +68.66% |
| 10 years | +90.39% |
| All time | +81.94% |
Profitability and growth
- Return on equity
- 18.79%
- Return on assets
- 18.53%
- Net margin
- 37.53%
- EBITDA margin
- 80.91%
- Revenue growth
- -5.38%
- Net income growth
- -37.96%
- Free cash flow growth
- -0.12%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 11.15%
- Current ratio
- 13.85x
- Net debt to EBITDA
- -0.56x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $152.83M
- EBITDA
- $123.65M
- Net income
- $57.35M
- Earnings per share
- $1.16
- Shares outstanding
- 47.65M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $152.83M | - | $57.35M | $1.16 |
| 2024-12-31 | $161.52M | - | $92.45M | $2.13 |
| 2023-12-31 | $163.80M | - | $114.12M | $2.85 |
| 2022-12-31 | $170.80M | - | $130.61M | $3.35 |
| 2021-12-31 | $93.42M | - | $70.17M | $1.94 |
| 2020-12-31 | $46.93M | - | $21.87M | $0.61 |
| 2019-12-31 | $78.80M | - | $52.77M | $1.50 |
| 2018-12-31 | $73.28M | - | $53.91M | $1.61 |
| 2017-12-31 | $57.29M | - | $38.42M | $1.18 |
| 2016-12-31 | $37.56M | $25.96M | $20.97M | $0.66 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | - | 37.53% | 18.79% | - |
| 2024-12-31 | - | 57.24% | 25.55% | - |
| 2023-12-31 | - | 69.67% | 61.50% | - |
| 2022-12-31 | - | 76.47% | 76.15% | - |
| 2021-12-31 | - | 75.11% | 49.28% | - |
| 2020-12-31 | - | 46.60% | 25.86% | - |
| 2019-12-31 | - | 66.96% | 46.97% | - |
| 2018-12-31 | - | 73.57% | 62.21% | - |
| 2017-12-31 | - | 67.07% | 42.34% | - |
| 2016-12-31 | 69.11% | 55.83% | 31.32% | 35.70% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $41.94M |
| 2024-12-31 | $42.51M |
| 2023-12-31 | $47.02M |
| 2022-12-31 | $40.75M |
| 2021-12-31 | $28.31M |
| 2020-12-31 | $11.23M |
| 2019-12-31 | $15.34M |
| 2018-12-31 | $18.29M |
| 2017-12-31 | $13.83M |
| 2016-12-31 | $8.21M |
Free cash flow by year
| Period end | Free cash flow |
|---|
| 2025-12-31 | $132.49M |
| 2024-12-31 | $132.64M |
| 2023-12-31 | $139.84M |
| 2022-12-31 | $147.05M |
| 2021-12-31 | $70.31M |
| 2020-12-31 | $39.41M |
| 2019-12-31 | $66.11M |
| 2018-12-31 | $62.52M |
| 2017-12-31 | $44.03M |
| 2016-12-31 | $28.28M |
Dividend history
- Most recent payment
- 2026-08-03
- Paid in the last twelve months
- $3.19
| Payment date | Dividend per share |
|---|
| 2026-08-03 | $1.27 |
| 2026-05-04 | $0.47 |
| 2026-02-02 | $0.76 |
| 2025-11-03 | $0.69 |
| 2025-08-04 | $0.62 |
| 2025-05-05 | $0.73 |
| 2025-02-03 | $0.74 |
| 2024-10-28 | $1.00 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-05
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-06 | Jun/2026 | - |
| 2026-05-06 | - | - |
| 2026-02-24 | - | - |
| 2026-02-19 | - | - |
| 2025-11-06 | - | - |
| 2025-08-07 | - | - |
| 2025-05-08 | - | - |
| 2025-02-20 | - | - |
Filings and sources
- Company website
- dmlp.net
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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