Dorchester Minerals (DMLP) AI Stock Analysis

• Market Cap: $1.03B
• Dividend Yield: 13.05%
• Average Volume (3M): 179.02K
• Price to Earnings (P/E): 18.9
• Beta (1Y): 0.47
• Revenue Growth: -12.51%
• EPS Growth: -59.55%
• Country: US
• Employees: 27
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): 0.23
• Shares Outstanding: 48,255,450
• 10 Day Avg. Volume: 209,919
• 30 Day Avg. Volume: 179,018
• PEG Ratio: -0.60
• Price to Book (P/B): 3.83
• Price to Sales (P/S): 8.63
• P/FCF Ratio: 10.51
• Enterprise Value/Market Cap: 1.16
• Enterprise Value/Revenue: 7.89
• Enterprise Value/Gross Profit: 13.88
• Enterprise Value/Ebitda: 9.76
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: $24.00 ▲(12.89% Upside)

Dorchester Minerals' strong financial performance, characterized by high profitability and low leverage, is a key strength. However, bearish technical indicators and a relatively high P/E ratio suggest caution. The attractive dividend yield provides a positive offset, but declining revenue and cash flow trends need monitoring.

Positive Factors

Financial Stability

Minimal leverage enhances financial flexibility and reduces risk, allowing the company to navigate market fluctuations more effectively.

Profitability

High margins indicate efficient operations and strong pricing power, contributing to sustainable long-term profitability.

Cash Generation

Strong cash generation supports reinvestment in growth opportunities and provides a buffer against economic downturns.

Negative Factors

Revenue Decline

Declining revenue may signal weakening demand or competitive pressures, potentially impacting future growth and profitability.

Free Cash Flow Decline

A decline in free cash flow can limit the company's ability to invest in new projects and return capital to shareholders.

Earnings Decline

Significant decline in earnings per share growth indicates potential operational challenges and could affect investor confidence.

Dorchester Minerals Business Overview & Revenue Model

Company Description

Dorchester Minerals, L.P. (DMLP) is a publicly traded limited partnership that primarily operates in the oil and natural gas sector. The company focuses on the acquisition, management, and development of mineral and royalty interests in properties across the United States. Its core products include oil and natural gas royalties, which are derived from its extensive portfolio of mineral rights and leasehold interests in various energy-producing regions.

How the Company Makes Money

Dorchester Minerals generates revenue primarily through the collection of royalties from oil and natural gas production on its owned mineral and royalty interests. As a royalty owner, the company typically receives a percentage of the revenue generated from the extraction of these resources without incurring the direct costs of production. Key revenue streams include payments based on the volume of oil and gas produced and the prevailing market prices for these commodities. Additionally, the company may benefit from partnerships with various exploration and production companies that operate on its leased properties, which can enhance its revenue through increased production levels. Fluctuations in oil and gas prices, as well as the operational efficiency of its partners, significantly influence its earnings.

Dorchester Minerals Financial Statement Overview

Summary

Dorchester Minerals demonstrates strong profitability and financial stability, with excellent margins and low leverage. However, declining revenue and free cash flow in the TTM highlight potential areas of concern that need to be addressed to sustain growth.

Income Statement

Dorchester Minerals shows strong profitability with a high EBIT margin of 47.79% and a net profit margin of 46.45% in TTM. However, revenue has declined by 10.7% in the TTM, indicating potential challenges in revenue generation.

Balance Sheet

The company maintains a very low debt-to-equity ratio of 0.0028, indicating minimal leverage and strong financial stability. Return on equity is solid at 21.98%, reflecting efficient use of equity to generate profits.

Cash Flow

Operating cash flow is robust with a high coverage ratio of 27.05, and free cash flow to net income ratio is 1.0, indicating strong cash generation. However, free cash flow has decreased by 6.8% in the TTM, suggesting a need to monitor cash flow trends.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	150.69M	161.52M	163.80M	170.80M	93.42M	46.93M
Gross Profit	85.68M	104.38M	125.28M	138.83M	75.36M	29.33M
EBITDA	121.82M	135.22M	140.62M	149.90M	80.86M	34.02M
Net Income	54.01M	92.45M	110.39M	130.61M	70.17M	21.87M
Balance Sheet
Total Assets	330.37M	366.81M	191.06M	176.24M	146.81M	88.33M
Cash, Cash Equivalents and Short-Term Investments	41.61M	42.51M	47.02M	40.75M	28.31M	11.23M
Total Debt	842.00K	1.04M	1.31M	1.59M	1.89M	2.19M
Total Liabilities	6.80M	5.02M	5.51M	4.72M	4.40M	3.76M
Stockholders Equity	323.57M	363.79M	185.44M	170.84M	141.43M	84.03M
Cash Flow
Free Cash Flow	129.70M	132.64M	139.84M	147.05M	70.31M	39.41M
Operating Cash Flow	129.70M	132.64M	139.84M	147.05M	70.31M	39.41M
Investing Cash Flow	6.78M	14.72M	2.28M	2.09M	2.58M	6.13M
Financing Cash Flow	-151.34M	-151.88M	-135.85M	-136.69M	-55.81M	-49.64M

Dorchester Minerals Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.26
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DMLP, the sentiment is Negative. The current price of 21.26 is below the 20-day moving average (MA) of 23.15, below the 50-day MA of 23.88, and below the 200-day MA of 25.77, indicating a bearish trend. The MACD of -0.53 indicates Positive momentum. The RSI at 26.36 is Positive, neither overbought nor oversold. The STOCH value of 12.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DMLP.

Dorchester Minerals Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MNR	73 Outperform	$1.96B	12.13	6.68%	16.67%	9.33%	―
INR	73 Outperform	$791.41M	―	-2.91%	―	―	―
SBR	66 Neutral	$1.14B	14.40	986.82%	6.74%	-14.84%	-16.23%
KRP	66 Neutral	$1.65B	―	4.73%	13.15%	-2.71%	-113.80%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
DMLP	63 Neutral	$1.03B	18.88	14.72%	13.05%	-12.51%	-59.55%
TALO	63 Neutral	$1.93B	―	-13.71%	―	-0.02%	-473.61%

Dorchester Minerals Corporate Events

Dorchester Minerals Reports Decline in Q3 2025 Earnings

Dorchester Minerals, L.P. is a publicly traded Delaware limited partnership that focuses on the acquisition, ownership, and administration of royalty properties, including mineral, royalty, overriding royalty, net profits, and leasehold interests across the United States. The company operates primarily in the oil and natural gas sector.

Dorchester Minerals Reports Decrease in Quarterly Income

Dorchester Minerals, L.P. announced its financial results for the quarter ended September 30, 2025, reporting a net income of $11,173,000, or $0.23 per common unit. This represents a significant decrease compared to the same quarter in 2024, where the net income was $36,413,000. The company also declared a third-quarter distribution of $0.689883 per common unit, payable on November 13, 2025. The decline in net income and operating revenues highlights challenges in the current market environment, impacting the company’s financial performance and potentially influencing stakeholder expectations.

The most recent analyst rating on (DMLP) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Dorchester Minerals stock, see the DMLP Stock Forecast page.

Dorchester Minerals Announces Q3 2025 Cash Distribution

Dorchester Minerals, L.P. announced a cash distribution of $0.689883 per common unit for the third quarter of 2025, with payments scheduled for November 13, 2025, to unitholders of record as of November 3, 2025. The distribution is based on cash receipts from its Royalty Properties and Net Profits Interest, totaling approximately $33.0 million and $5.1 million respectively, reflecting oil and natural gas sales from earlier in the year. The announcement also highlights the tax implications for non-U.S. investors, emphasizing the need for brokers and nominees to withhold taxes on distributions.

The most recent analyst rating on (DMLP) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Dorchester Minerals stock, see the DMLP Stock Forecast page.

Dorchester Minerals Acquires Mineral Interests in Colorado

On August 29, 2025, Dorchester Minerals, L.P. completed the acquisition of mineral interests covering approximately 3,050 net royalty acres in Adams County, Colorado. The transaction was structured as a non-taxable contribution and exchange, with contributing entities receiving 915,694 common units representing limited partnership interests in Dorchester Minerals. This acquisition is expected to enhance the company’s portfolio and strengthen its position in the oil and natural gas industry.

The most recent analyst rating on (DMLP) stock is a Buy with a $27.00 price target. To see the full list of analyst forecasts on Dorchester Minerals stock, see the DMLP Stock Forecast page.

Dorchester Minerals Reports Decline in Quarterly Earnings

Dorchester Minerals, L.P. is a publicly traded Delaware limited partnership focused on acquiring, owning, and managing royalty properties, primarily in the oil and natural gas sector, with interests spanning across 28 states in the United States. In its latest earnings report for the quarter ending June 30, 2025, Dorchester Minerals reported a decrease in net income compared to the previous year, with total operating revenues of $32.4 million, down from $37.4 million in the same quarter of 2024. The company highlighted a significant drop in oil sales volumes and prices, which contributed to the decline in earnings. Despite the decrease in revenues, the company experienced an increase in lease bonus revenue, primarily due to a significant lease extension in Texas. Operating costs decreased due to lower production taxes and transportation costs, although general and administrative expenses rose due to increased data service costs and compensation expenses. Looking forward, Dorchester Minerals remains focused on leveraging its extensive portfolio of royalty properties while navigating the challenges posed by fluctuating oil and natural gas prices and geopolitical uncertainties.