NASDAQ : DMLP
Dorchester Minerals, L.P. — Financial statements
Energy · Oil & Gas Exploration & Production · United States
Last price 29.8 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.46B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Dorchester Minerals, L.P. (DMLP) reported revenue of 186.39M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 183.72M | 145.32M | 152.75M | 155.76M | 163.55M | 88.74M |
| Other Revenue | 2.67M | 1.68M | 1.89M | 2.26M | 670.00K | 1.01M |
| Revenue | 186.39M | 147.00M | 154.64M | 158.02M | 164.22M | 89.76M |
| Cost of Revenue | 13.24M | 10.02M | 7.67M | 6.43M | 6.31M | 3.93M |
| Gross Profit | 173.14M | 136.98M | 146.97M | 151.59M | 157.91M | 85.83M |
| Selling, General & Admin | 14.21M | 13.32M | 11.93M | 11.16M | 8.22M | 5.19M |
| Operating Expenses | 85.77M | 79.62M | 54.52M | 37.47M | 27.30M | 15.65M |
| Operating Income | 87.37M | 57.35M | 92.45M | 114.12M | 130.61M | 70.17M |
| Pretax Income | 87.37M | 57.35M | 92.45M | 114.12M | 130.61M | 70.17M |
| Earnings From Continuing Operations | 87.37M | 57.35M | 92.45M | 114.12M | 130.61M | 70.17M |
| Minority Interest in Earnings | -2.94M | -2.10M | -3.25M | -3.73M | -4.49M | -2.35M |
| Net Income | 84.43M | 55.25M | 89.20M | 110.39M | 126.12M | 67.83M |
| Net Income to Common | 84.43M | 55.25M | 89.20M | 110.39M | 126.12M | 67.83M |
| Shares Outstanding (Basic) | 48.11M | 47.65M | 41.81M | 38.78M | 37.62M | 35.05M |
| Shares Outstanding (Diluted) | 48.11M | 47.65M | 41.81M | 38.78M | 37.62M | 35.05M |
| EPS (Basic) | 1.75 | 1.16 | 2.13 | 2.85 | 3.35 | 1.94 |
| EPS (Diluted) | 1.75 | 1.16 | 2.13 | 2.85 | 3.35 | 1.94 |
| Free Cash Flow | 156.69M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Free Cash Flow Per Share | 3.26 | 2.78 | 3.17 | 3.61 | 3.91 | 2.01 |
| Dividend Per Share | 3.19 | 2.79 | 3.22 | 3.52 | 3.74 | 1.93 |
| Gross Margin | 92.89% | 93.18% | 95.04% | 95.93% | 96.16% | 95.62% |
| Operating Margin | 46.88% | 39.02% | 59.78% | 72.21% | 79.53% | 78.18% |
| Profit Margin | 45.30% | 37.59% | 57.68% | 69.86% | 76.80% | 75.57% |
| Free Cash Flow Margin | 84.07% | 90.13% | 85.77% | 88.50% | 89.55% | 78.33% |
| EBITDA | 158.93M | 123.65M | 135.04M | 140.42M | 149.69M | 80.64M |
| EBITDA Margin | 85.27% | 84.12% | 87.32% | 88.86% | 91.15% | 89.84% |
| D&A For EBITDA | 71.56M | 66.30M | 42.59M | 26.31M | 19.08M | 10.46M |
| EBIT | 87.37M | 57.35M | 92.45M | 114.12M | 130.61M | 70.17M |
| EBIT Margin | 46.88% | 39.02% | 59.78% | 72.21% | 79.53% | 78.18% |
| Revenue as Reported | 192.22M | 152.83M | 161.52M | 163.80M | 170.80M | 93.42M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 72.50M | 41.94M | 42.51M | 47.02M | 40.75M | 28.31M |
| Cash & Short-Term Investments | 72.50M | 41.94M | 42.51M | 47.02M | 40.75M | 28.31M |
| Receivables | 27.01M | 16.48M | 24.79M | 22.68M | 21.71M | 18.36M |
| Prepaid Expenses | 270.00K | 526.00K | 539.00K | |||
| Total Current Assets | 99.78M | 58.94M | 67.83M | 69.71M | 62.47M | 46.66M |
| Property, Plant & Equipment | 214.23M | 250.61M | 298.98M | 121.36M | 113.78M | 100.15M |
| Total Assets | 314.01M | 309.55M | 366.81M | 191.06M | 176.24M | 146.81M |
| Accounts Payable | 6.85M | 3.54M | 3.98M | 4.20M | 3.13M | 2.51M |
| Current Portion of Leases | 355.00K | 256.00K | 263.00K | 272.00K | 281.00K | 291.00K |
| Total Current Liabilities | 7.20M | 3.79M | 4.25M | 4.47M | 3.41M | 2.80M |
| Long-Term Leases | 3.14M | 521.00K | 777.00K | 1.04M | 1.31M | 1.59M |
| Total Liabilities | 10.34M | 4.32M | 5.02M | 5.51M | 4.72M | 4.40M |
| Common Stock | 308.77M | 310.06M | 363.79M | 185.44M | 170.84M | 141.43M |
| Total Common Equity | 308.77M | 310.06M | 363.79M | 185.44M | 170.84M | 141.43M |
| Minority Interest | -5.09M | -4.83M | -2.00M | 113.00K | 676.00K | 982.00K |
| Shareholders' Equity | 303.68M | 305.24M | 361.79M | 185.56M | 171.52M | 142.41M |
| Total Liabilities & Equity | 314.01M | 309.55M | 366.81M | 191.06M | 176.24M | 146.81M |
| Total Debt | 3.49M | 777.00K | 1.04M | 1.31M | 1.59M | 1.89M |
| Net Cash (Debt) | 69.01M | 41.16M | 41.47M | 45.71M | 39.16M | 26.42M |
| Net Cash Per Share | 1.43 | 0.86 | 0.99 | 1.18 | 1.04 | 0.75 |
| Filing Date Shares Outstanding | 49.09M | 48.26M | 47.34M | 39.58M | 38.37M | 36.98M |
| Total Common Shares Outstanding | 48.26M | 48.26M | 47.34M | 39.58M | 38.37M | 36.98M |
| Working Capital | 92.58M | 55.15M | 63.59M | 65.24M | 59.05M | 43.86M |
| Book Value Per Share | 6.40 | 6.43 | 7.68 | 4.68 | 4.45 | 3.82 |
| Tangible Book Value | 308.77M | 310.06M | 363.79M | 185.44M | 170.84M | 141.43M |
| Tangible Book Value Per Share | 6.40 | 6.43 | 7.68 | 4.68 | 4.45 | 3.82 |
| Leasehold Improvements | 989.00K | 989.00K | 989.00K | 989.00K | 989.00K | 989.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 84.43M | 55.25M | 89.20M | 110.39M | 126.12M | 67.83M |
| Depreciation & Amortization | 71.74M | 66.46M | 42.77M | 26.50M | 19.29M | 10.69M |
| Other Operating Activities | 2.94M | 2.10M | 3.25M | 3.73M | 4.49M | 2.35M |
| Change in Accounts Receivable | -4.75M | 9.05M | -1.92M | -1.57M | -3.49M | -10.88M |
| Change in Accounts Payable | 2.06M | -135.00K | -522.00K | 1.05M | 930.00K | 623.00K |
| Change in Other Net Operating Assets | 270.00K | -250.00K | -140.00K | -256.00K | -291.00K | -300.00K |
| Operating Cash Flow | 156.69M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Sale of Property, Plant & Equipment | 262.00K | |||||
| Cash Acquisitions | 2.09M | 2.32M | ||||
| Other Investing Activities | 5.87M | 3.89M | 14.72M | 2.28M | ||
| Investing Cash Flow | 5.87M | 3.89M | 14.72M | 2.28M | 2.09M | 2.58M |
| Common Dividends Paid | -122.04M | -132.02M | -146.52M | -131.56M | -131.90M | -53.91M |
| Other Financing Activities | -4.54M | -4.93M | -5.36M | -4.29M | -4.79M | -1.90M |
| Financing Cash Flow | -126.58M | -136.94M | -151.88M | -135.85M | -136.69M | -55.81M |
| Net Cash Flow | 35.99M | -571.00K | -4.52M | 6.27M | 12.45M | 17.07M |
| Free Cash Flow | 156.69M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Free Cash Flow Margin | 84.07% | 90.13% | 85.77% | 88.50% | 89.55% | 78.33% |
| Free Cash Flow Per Share | 3.26 | 2.78 | 3.17 | 3.61 | 3.91 | 2.01 |
| Levered Free Cash Flow | 124.23M | 110.18M | 97.69M | 97.92M | 98.18M | 44.11M |
| Unlevered Free Cash Flow | 124.23M | 110.18M | 97.69M | 97.92M | 98.18M | 44.11M |
| Change in Working Capital | -2.42M | 8.67M | -2.58M | -776.00K | -2.85M | -10.56M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.39B | 1.08B | 1.58B | 1.26B | 1.15B | 700.66M |
| Enterprise Value | 1.32B | 1.03B | 1.52B | 1.22B | 1.10B | 681.15M |
| Last Close Price | 28.36 | 20.34 | 27.46 | 23.55 | 19.80 | 11.53 |
| PE Ratio | 16.16 | 19.53 | 17.69 | 11.41 | 9.11 | 10.33 |
| PS Ratio | 7.47 | 7.34 | 10.20 | 7.97 | 6.99 | 7.81 |
| PB Ratio | 4.43 | 3.54 | 4.36 | 6.79 | 6.70 | 4.92 |
| P/TBV Ratio | 4.51 | 3.48 | 4.34 | 6.79 | 6.72 | 4.95 |
| P/FCF Ratio | 8.88 | 8.14 | 11.90 | 9.01 | 7.81 | 9.97 |
| P/OCF Ratio | 8.88 | 8.14 | 11.90 | 9.01 | 7.81 | 9.97 |
| EV/Sales Ratio | 7.10 | 7.03 | 9.84 | 7.71 | 6.70 | 7.59 |
| EV/EBITDA Ratio | 8.33 | 8.36 | 11.27 | 8.67 | 7.35 | 8.45 |
| EV/EBIT Ratio | 15.14 | 18.03 | 16.46 | 10.67 | 8.42 | 9.71 |
| EV/FCF Ratio | 8.44 | 7.80 | 11.47 | 8.71 | 7.48 | 9.69 |
| Debt / Equity Ratio | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
| Debt / FCF Ratio | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 |
| Net Debt / Equity Ratio | -0.23 | -0.14 | -0.12 | -0.25 | -0.23 | -0.19 |
| Net Debt / EBITDA Ratio | -0.43 | -0.33 | -0.31 | -0.33 | -0.26 | -0.33 |
| Net Debt / FCF Ratio | -0.44 | -0.31 | -0.31 | -0.33 | -0.27 | -0.38 |
| Asset Turnover | 0.58 | 0.43 | 0.55 | 0.86 | 1.02 | 0.76 |
| Quick Ratio | 13.81 | 15.40 | 15.85 | 15.61 | 18.31 | 16.65 |
| Current Ratio | 13.85 | 15.54 | 15.97 | 15.61 | 18.31 | 16.65 |
| Return on Equity (ROE) | 28.02% | 17.20% | 33.78% | 63.92% | 83.21% | 61.83% |
| Return on Assets (ROA) | 17.07% | 10.60% | 20.71% | 38.84% | 50.54% | 37.30% |
| Return on Capital Employed (ROCE) | 28.50% | 18.80% | 25.50% | 61.20% | 75.60% | 48.70% |
| Earnings Yield | 6.19% | 5.12% | 5.65% | 8.76% | 10.98% | 9.68% |
| FCF Yield | 11.25% | 12.28% | 8.41% | 11.10% | 12.80% | 10.03% |
| Dividend Yield | 9.84% | 12.48% | 9.66% | 11.06% | 12.50% | 10.19% |
| Payout Ratio | 192.95% | 238.93% | 164.26% | 119.18% | 104.58% | 79.48% |
| Buyback Yield / Dilution | -5.61% | -13.98% | -7.81% | -3.08% | -7.34% | -1.07% |
| Total Shareholder Return | 4.24% | -1.49% | 1.85% | 7.98% | 5.17% | 9.12% |