Dorchester Minerals (DMLP)
NASDAQ:DMLP
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Dorchester Minerals
(NASDAQ:DMLP)
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Rating:84Outperform
Price Target:
$32.00
▲(50.52% Upside)
Action:ReiteratedDate:03/17/26
The score is driven primarily by strong financial quality (very low leverage and consistently strong cash generation). Technicals add support with a clear uptrend and positive momentum, while valuation is helped by a very high dividend yield but tempered by a mid-range P/E. Corporate events are modestly supportive due to the cash settlement and governance/compliance resolution, though weaker 2025 results underscore cyclicality risk.
Positive Factors
Conservative balance sheet
Dorchester's minimal debt and near-zero debt-to-equity materially reduce financial risk and preserve flexibility through commodity cycles. Low leverage supports distribution stability, limits refinancing needs, and enables capital allocation choices (distributions, buybacks, opportunistic acquisitions) without stressing cash flow.
Negative Factors
Commodity-driven revenue cyclicality
Dorchester's income depends on commodity prices, production decline rates, and third-party drilling pace, making revenues and cash flows inherently cyclical. Even with low leverage, this structural volatility reduces predictability of distributions and complicates multi-quarter planning for investors and management alike.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Dorchester's minimal debt and near-zero debt-to-equity materially reduce financial risk and preserve flexibility through commodity cycles. Low leverage supports distribution stability, limits refinancing needs, and enables capital allocation choices (distributions, buybacks, opportunistic acquisitions) without stressing cash flow.
Read all positive factors
Dorchester Minerals (DMLP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.35B
Dividend Yield12.53%
Average Volume (3M)168.97K
Price to Earnings (P/E)18.6
Beta (1Y)0.34
Revenue Growth-5.38%
EPS Growth-46.73%
CountryUS
Employees27
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)N/A
Shares Outstanding48,255,450
10 Day Avg. Volume147,013
30 Day Avg. Volume168,968
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)3.44
Price to Sales (P/S)6.97
P/FCF Ratio8.04
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue8.57
Enterprise Value/Gross Profit14.94
Enterprise Value/Ebitda10.59
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Dorchester Minerals Business Overview & Revenue Model
Company Description
Dorchester Minerals, L.P. engages in the acquisition, ownership, and administration of producing and nonproducing natural gas and crude oil royalty, net profit, and leasehold interests in the United States. Its royalty properties consist of produc...
How the Company Makes Money
Dorchester Minerals makes money primarily by monetizing its mineral and royalty interests rather than by operating oil and gas wells. Its core revenue stream is royalty income: when third-party E&P operators produce oil and natural gas from wells ...
Dorchester Minerals Key Performance Indicators (KPIs)
Dorchester Minerals Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
90
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 152.83M | 161.52M | 163.80M | 170.80M | 93.42M |
| Gross Profit | 70.68M | 104.38M | 125.28M | 138.83M | 75.36M |
| EBITDA | 123.65M | 135.22M | 140.62M | 149.90M | 80.86M |
| Net Income | 57.35M | 92.45M | 110.39M | 130.61M | 70.17M |
Balance Sheet | |||||
| Total Assets | 309.55M | 366.81M | 191.06M | 176.24M | 146.81M |
| Cash, Cash Equivalents and Short-Term Investments | 41.94M | 42.51M | 47.02M | 40.75M | 28.31M |
| Total Debt | 777.00K | 1.04M | 1.31M | 1.59M | 1.89M |
| Total Liabilities | 4.32M | 5.02M | 5.51M | 4.72M | 4.40M |
| Stockholders Equity | 310.06M | 363.79M | 185.44M | 170.84M | 141.43M |
Cash Flow | |||||
| Free Cash Flow | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Operating Cash Flow | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Investing Cash Flow | 3.89M | 14.72M | 2.28M | 2.09M | 2.58M |
| Financing Cash Flow | -136.94M | -151.88M | -135.85M | -136.69M | -55.81M |
Dorchester Minerals Technical Analysis
Neutral
21.26
Price Trends
26.75
Positive
24.54
Positive
24.24
Positive
Market Momentum
0.34
Positive
52.57
Neutral
54.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DMLP, the sentiment is Neutral. The current price of 21.26 is below the 20-day moving average (MA) of 27.80, below the 50-day MA of 26.75, and below the 200-day MA of 24.24, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 52.57 is Neutral, neither overbought nor oversold. The STOCH value of 54.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DMLP.
Dorchester Minerals Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | $1.35B | 18.58 | 17.61% | 12.53% | -5.38% | -46.73% | |
76 Outperform | $1.89B | 11.74 | 12.05% | 13.84% | 3.57% | ― | |
68 Neutral | $2.32B | 10.15 | 8.09% | 17.48% | 10.68% | -44.46% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
| ― | $1.12B | 19.59 | 944.35% | 7.51% | -6.78% | -7.78% | |
65 Neutral | $2.60B | -3.89 | -20.26% | ― | -9.80% | -457.72% | |
57 Neutral | $1.03B | ― | 3754.45% | ― | 37.61% | -30.81% |
* Energy Sector Average
DMLP
Dorchester Minerals
27.97
1.79
6.84%
SBR
Sabine Royalty
77.06
17.53
29.44%
KRP
Kimbell Royalty Partners
15.46
4.73
44.08%
TALO
Talos Energy
15.56
8.49
120.08%
MNR
Mach Natural Resources LP
13.78
2.24
19.37%
INR
Infinity Natural Resources, Inc. Class A
16.19
0.28
1.76%
Dorchester Minerals Corporate Events
Business Operations and StrategyFinancial DisclosuresLegal Proceedings
Dorchester Minerals Resolves Litigation, Boosting Cash Proceeds
Positive
Mar 16, 2026
Dorchester Minerals, L.P. and its Operating Partnership have entered into a settlement and mutual release agreement with unrelated third parties, resolving ordinary course litigation involving certain leasehold interests in Midland County, Texas, ...
Executive/Board ChangesDelistings and Listing ChangesRegulatory Filings and Compliance
Dorchester Minerals Restores Nasdaq Compliance with New Appointment
Positive
Mar 2, 2026
Dorchester Minerals, L.P. disclosed that independent manager C.W. “Bill” Russell, who served on its board of managers and Advisory Committee, passed away on October 30, 2025, reducing the Advisory Committee and audit committee membersh...
DividendsFinancial Disclosures
Dorchester Minerals Reports Lower 2025 Results, Maintains Distributions
Negative
Feb 24, 2026
Dorchester Minerals, L.P., a Dallas-based energy partnership that owns producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits and leasehold interests in 28 U.S. states, reported lower results for 20...
Executive/Board Changes
Dorchester Minerals Appoints Independent Manager to Strengthen Oversight
Positive
Feb 17, 2026
Dorchester Minerals, L.P. announced that on February 11, 2026, it appointed A. Troy Sturrock as an independent manager to the board of managers of the general partner of its general partner, filling the vacancy created by the October 30, 2025 deat...
DividendsFinancial Disclosures
Dorchester Minerals Announces Q4 2025 Cash Distribution
Positive
Jan 22, 2026
On January 22, 2026, Dorchester Minerals, L.P. announced a fourth-quarter 2025 cash distribution of $0.755712 per common unit, reflecting activity for the three months ended December 31, 2025, payable on February 12, 2026 to unitholders of record ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.