Dorchester Minerals (DMLP) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Dorchester Minerals

NasdaqGS•Energy•Oil & Gas E&P

$29.21-0.04(<0.01%)Market closed

Market Cap

$1.44B

P/E

16.4x

P/S

7.5x

P/B

4.7x

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.

How this company scores

GoodMetricSide Score: 78/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability25/25

Growth15/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality23/25

Strengths

Strong marginsHigh ROEInterest easily coveredCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 16.4x5y range 9.0x – 22.2x

Currently above its 20-quarter median.

P/S · 7.5x5y range 6.9x – 14.5x

Currently near its 20-quarter median.

P/B · 4.7x5y range 3.1x – 10.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Revenue Decline

Watch

Revenue has softened, declining in 3 quarters. Watch for further erosion.

Share Dilution

Red Flag

Shares outstanding increased 20.1% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $1.44B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $192.22M
Q. Revenue: $56.08M
TTM EBITDA: $158.93M
TTM Op. Income: $87.37M
Q. Op. Income: $30.87M
TTM Net Income: $87.37M
Q. Net Income: $30.87M
EPS: $0.62
Shares Out.: $48.26M

$192.22M in TTM revenue grew 13.9% YoY, reaching $56.08M last quarter. TTM EBITDA of $158.93M and TTM operating income of $87.37M show growth is flowing through to the bottom line. TTM net income of $87.37M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 83.3%
Op. Margin: 55.1%
Net Margin: 55.1%

Op. margin of 55.1% is up 16.9% YoY — cost efficiency is improving. Net margin at 55.1% Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 16.4x
P/S Ratio: 7.5x
P/B Ratio: 4.7x

At 16.4x P/E, the stock trades within typical market levels. P/S of 7.5x and P/B of 4.7x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 1% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $314.01M
Cash: $72.50M
Long-Term Debt: N/A
Book Value: $303.68M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $64.21M
TTM Free Cash Flow: $156.69M
FCF Margin: 81.5%
FCF / Net Income: 1.8

TTM FCF of $156.69M on $64.21M in operating cash flow. The FCF / Net Income ratio of 1.8x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 13% — an improving trend.