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.
Ticker
DMLP
Exchange
Nasdaq
Sector
Energy
Industry
Oil & Gas E&P
Market cap
$1.34B
52-week range
$20.85 - $31.08
Valuation
Share price
$27.53 (close of Nov 6, 2026)
P/E (TTM)
13.30x
Price to book
4.64x
Price to free cash flow
8.13x
Enterprise value
$1.29B
Book value per share
$5.94
Price performance
Period
Change
1 day
+0.99%
5 days
-7.62%
1 month
-5.46%
3 months
+6.62%
6 months
+5.48%
Year to date
+23.12%
1 year
+17.30%
3 years
-1.15%
5 years
+43.31%
10 years
+86.64%
All time
+72.06%
Short interest
As of
Oct 15, 2026
Short % of float
0.96%
Shares short
441.62K
Days to cover
6.17
Change since prior report
+19.73%
Source
FINRA consolidated short interest
Profitability and growth
Return on equity
18.79%
Return on invested capital
18.74%*
Return on assets
18.53%
Return on capital employed
18.76%*
Net margin
37.53%
EBITDA margin
80.91%
Revenue growth
-5.38%
Net income growth
-37.96%
Free cash flow growth
-0.12%
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.
Cash flow and balance sheet
Free cash flow yield (TTM)
12.31%
Current ratio
10.60x
Net debt to EBITDA
-0.33x
Latest reported year
Period end
Dec 31, 2025
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%
18.74%*
2024-12-31
-
57.24%
25.55%
25.48%*
2023-12-31
-
69.67%
61.50%
61.07%*
2022-12-31
-
76.47%
76.15%
75.45%*
2021-12-31
-
75.11%
49.28%
48.63%*
2020-12-31
-
46.60%
25.86%
25.21%*
2019-12-31
-
66.96%
46.97%
45.95%*
2018-12-31
-
73.57%
62.21%
60.33%*
2017-12-31
-
67.07%
42.34%
42.34%*
2016-12-31
69.11%
55.83%
31.32%
31.32%
* Estimated EBIT: pre-tax income + net interest. This company reports no operating income line.