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Dorchester Minerals
(NASDAQ:DMLP)
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Rating:82Outperform
Price Target:
$32.00
▲(15.15% Upside)
Action:Reiterated
Date:07/24/26
The score is led by strong financial quality—very low leverage and robust cash generation—supported by an attractive dividend yield. Technicals are positive with price above key moving averages and a positive MACD, but near-overbought momentum (high stochastic) reduces the overall score somewhat.
Positive Factors
Conservative balance sheet
Extremely low leverage provides durable financial flexibility: the partnership can sustain distributions, absorb commodity downturns, and pursue bolt-on opportunities without stressing credit. A conservative capital structure supports long-term resilience and lower financing risk.
Negative Factors
Commodity-price sensitivity
Royalty and NPI receipts move directly with oil and gas prices and volumes. Even with diversification, sustained commodity weakness or price swings will materially reduce cash flows and distributions, creating persistent earnings cyclicality for the partnership.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage provides durable financial flexibility: the partnership can sustain distributions, absorb commodity downturns, and pursue bolt-on opportunities without stressing credit. A conservative capital structure supports long-term resilience and lower financing risk.
Read all positive factors
Dorchester Minerals Key Performance Indicators (KPIs)
Any
Royalty Properties Natural Gas Sales
Measures natural gas proceeds from Dorchester’s royalty properties where it receives a share of production without operating the wells. Highlights the stability and downside protection of royalty income versus operating assets, while pointing to exposure from production declines, concentrated acreage, and gas-price cycles.
Measures natural gas proceeds from Dorchester’s royalty properties where it receives a share of production without operating the wells. Highlights the stability and downside protection of royalty income versus operating assets, while pointing to exposure from production declines, concentrated acreage, and gas-price cycles.
Data provided by:
The Fly
The FlyDorchester Minerals (DMLP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.33B
Dividend Yield9.2%
Average Volume (3M)209.65K
Price to Earnings (P/E)19.2
Beta (1Y)0.26
Revenue Growth-2.97%
EPS Growth-33.78%
CountryUS
Employees26
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)1.44
Shares Outstanding48,255,450
10 Day Avg. Volume299,030
30 Day Avg. Volume209,651
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
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. is engaged in the acquisition, ownership, and management of both producing and non-producing royalty, net profit, and leasehold interests related to natural gas and crude oil across the United States. Its extensive royalt...
How the Company Makes Money
Dorchester Minerals makes money primarily by monetizing its mineral and royalty interests and its net profits interests (NPIs) through arrangements with third-party oil and gas operators.
Key revenue streams:
1) Royalty income from mineral and ro...
Dorchester Minerals Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
92
Very Positive
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 168.54M | 152.83M | 161.52M | 163.80M | 170.80M | 93.42M |
| Gross Profit | 99.11M | 70.68M | 104.38M | 125.28M | 138.83M | 75.36M |
| EBITDA | 139.29M | 123.65M | 135.22M | 140.62M | 149.90M | 80.86M |
| Net Income | 68.85M | 57.35M | 92.45M | 110.39M | 130.61M | 70.17M |
Balance Sheet | ||||||
| Total Assets | 301.63M | 309.55M | 366.81M | 191.06M | 176.24M | 146.81M |
| Cash, Cash Equivalents and Short-Term Investments | 28.16M | 41.94M | 42.51M | 47.02M | 40.75M | 28.31M |
| Total Debt | 713.00K | 777.00K | 1.04M | 1.31M | 1.59M | 1.89M |
| Total Liabilities | 4.94M | 4.32M | 5.02M | 5.51M | 4.72M | 4.40M |
| Stockholders Equity | 301.86M | 310.06M | 363.79M | 185.44M | 170.84M | 141.43M |
Cash Flow | ||||||
| Free Cash Flow | 123.00M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Operating Cash Flow | 123.00M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Investing Cash Flow | 1.95M | 3.89M | 14.72M | 2.28M | 2.09M | 2.58M |
| Financing Cash Flow | -138.34M | -136.94M | -151.88M | -135.85M | -136.69M | -55.81M |
Dorchester Minerals Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $1.33B | 19.17 | 21.80% | 9.14% | -2.97% | -33.78% | |
73 Outperform | $1.75B | 20.43 | 10.68% | 10.11% | 0.87% | 770.57% | |
68 Neutral | $2.28B | 18.43 | 13.10% | 13.59% | 22.47% | -56.03% | |
66 Neutral | $1.06B | 15.60 | 959.49% | 6.64% | -11.58% | -12.24% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
60 Neutral | $2.53B | -3.54 | -33.22% | ― | -15.43% | -3103.48% | |
54 Neutral | $836.08M | 0.02 | 5760.88% | ― | 44.96% | ― |
* Energy Sector Average
DMLP
Dorchester Minerals
27.61
2.87
11.59%
SBR
Sabine Royalty
73.02
11.20
18.12%
KRP
Kimbell Royalty Partners
14.97
1.34
9.82%
TALO
Talos Energy
15.18
7.37
94.37%
MNR
Mach Natural Resources LP
13.64
0.80
6.22%
INR
Infinity Natural Resources, Inc. Class A
13.16
-0.79
-5.66%
Dorchester Minerals Corporate Events
DividendsFinancial DisclosuresRegulatory Filings and Compliance
Dorchester Minerals Declares Second-Quarter Cash Distribution
Positive
Jul 23, 2026
Dorchester Minerals, L.P. reported that for the quarter ended June 30, 2026, it declared a second-quarter cash distribution of $1.272943 per common unit, payable on August 13, 2026 to unitholders of record as of August 3. The payout is backed by a...
Business Operations and StrategyM&A Transactions
Dorchester Minerals expands Williston Basin royalty footprint
Positive
Jul 6, 2026
On July 3, 2026, Dorchester Minerals, L.P. entered into a non-taxable contribution and exchange agreement with unrelated third parties to acquire mineral and royalty interests totaling about 3,100 net royalty acres in five counties across North Da...
Executive/Board ChangesShareholder Meetings
Dorchester Minerals Unitholders Reaffirm Governance and Leadership
Positive
May 15, 2026
Dorchester Minerals, L.P., a U.S.-based owner of oil and natural gas mineral and royalty interests, operates as a publicly traded partnership focused on collecting production-derived income from its energy asset portfolio. Its governance structure...
Business Operations and StrategyShareholder Meetings
Dorchester Minerals Schedules 2026 Annual Meeting and Presentation
Positive
May 12, 2026
Dorchester Minerals, L.P. announced that it will hold its 2026 Annual Meeting of Limited Partners on May 13, 2026, at 2:00 p.m. Central Time in Dallas, Texas. The meeting will take place at the offices of Willkie Farr Gallagher LLP and will be fo...
DividendsFinancial Disclosures
Dorchester Minerals Posts Strong Q1 Results, Raises Distribution
Positive
May 6, 2026
Dorchester Minerals, L.P. reported significantly stronger results for the quarter ended March 31, 2026, posting net income of $29.1 million, or $0.59 per common unit, compared with $17.6 million, or $0.36 per unit, in the same period of 2025 as op...
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.