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Dorchester Minerals
(NASDAQ:DMLP)
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Rating:79Outperform
Price Target:
$33.00
▲(14.94% Upside)
Action:Reiterated
Date:08/07/26
DMLP scores well primarily due to strong financial performance—high margins, excellent free-cash-flow generation, and minimal leverage—supported by an attractive dividend yield. Offsetting this, technicals are only neutral with weak near-term momentum signals, and the P/E suggests the stock is not deeply discounted given commodity-linked variability.
Positive Factors
Strong cash generation
Dorchester converts earnings into substantial cash, with trailing operating cash flow matching free cash flow and strong recent FCF growth. This supports distributions, internally funded portfolio growth, and financial resilience without relying heavily on external capital.
Negative Factors
Commodity-linked earnings volatility
Dorchester’s income is directly exposed to commodity prices and production volumes, so earnings and distributions can fluctuate materially with the energy cycle. This dependence makes cash-flow visibility less predictable than for businesses with recurring, non-cyclical revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Dorchester converts earnings into substantial cash, with trailing operating cash flow matching free cash flow and strong recent FCF growth. This supports distributions, internally funded portfolio growth, and financial resilience without relying heavily on external capital.
Read all positive factors
Dorchester Minerals Key Performance Indicators (KPIs)
Any
Royalty Properties Natural Gas Sales
Reports gas volumes and revenue from Dorchester’s royalty properties. Consistent or growing sales signal stable production and steady cash for distributions, while declines can signal operator cutbacks, well declines, or price-driven curtailments.
Reports gas volumes and revenue from Dorchester’s royalty properties. Consistent or growing sales signal stable production and steady cash for distributions, while declines can signal operator cutbacks, well declines, or price-driven curtailments.
Data provided by:
The Fly
The FlyDorchester Minerals (DMLP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.43B
Dividend Yield10.93%
Average Volume (3M)178.09K
Price to Earnings (P/E)16.1
Beta (1Y)0.17
Revenue Growth13.91%
EPS Growth-1.27%
CountryUS
Employees26
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)1.81
Shares Outstanding49,091,408
10 Day Avg. Volume94,910
30 Day Avg. Volume178,093
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
83
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
90
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 192.22M | 152.83M | 161.52M | 163.80M | 170.80M | 93.42M |
| Gross Profit | 140.01M | 70.68M | 104.38M | 125.28M | 138.83M | 75.36M |
| EBITDA | 158.93M | 123.65M | 135.22M | 140.62M | 149.90M | 80.86M |
| Net Income | 87.81M | 57.35M | 92.45M | 110.39M | 130.61M | 70.17M |
Balance Sheet | ||||||
| Total Assets | 314.01M | 309.55M | 366.81M | 191.06M | 176.24M | 146.81M |
| Cash, Cash Equivalents and Short-Term Investments | 72.50M | 41.94M | 42.51M | 47.02M | 40.75M | 28.31M |
| Total Debt | 3.49M | 777.00K | 1.04M | 1.31M | 1.59M | 1.89M |
| Total Liabilities | 10.34M | 4.32M | 5.02M | 5.51M | 4.72M | 4.40M |
| Stockholders Equity | 303.68M | 310.06M | 363.79M | 185.44M | 170.84M | 141.43M |
Cash Flow | ||||||
| Free Cash Flow | 156.69M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Operating Cash Flow | 156.69M | 132.49M | 132.64M | 139.84M | 147.05M | 70.31M |
| Investing Cash Flow | 5.87M | 3.89M | 14.72M | 2.28M | 2.09M | 2.58M |
| Financing Cash Flow | -126.58M | -136.94M | -151.88M | -135.85M | -136.69M | -55.81M |
Dorchester Minerals Technical Analysis
Positive
28.71
Price Trends
26.64
Positive
26.27
Positive
24.56
Positive
Market Momentum
0.76
Positive
72.81
Negative
71.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DMLP, the sentiment is Positive. The current price of 28.71 is above the 20-day moving average (MA) of 28.43, above the 50-day MA of 26.64, and above the 200-day MA of 24.56, indicating a bullish trend. The MACD of 0.76 indicates Positive momentum. The RSI at 72.81 is Negative, neither overbought nor oversold. The STOCH value of 71.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $1.43B | 16.14 | 28.25% | 10.93% | 13.91% | -1.27% | |
75 Outperform | $1.91B | 17.66 | 12.70% | 10.75% | 10.33% | ― | |
74 Outperform | $2.10B | 22.05 | 12.74% | 14.32% | 39.27% | -72.63% | |
69 Neutral | $990.02M | 5.10 | 16.06% | ― | 75.40% | ― | |
66 Neutral | $1.09B | 15.28 | 961.81% | 6.39% | -2.95% | -2.96% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
61 Neutral | $2.81B | -7.20 | -19.26% | ― | 2.44% | -144.04% |
* Energy Sector Average
DMLP
Dorchester Minerals
29.21
7.40
33.90%
SBR
Sabine Royalty
74.71
5.37
7.74%
KRP
Kimbell Royalty Partners
14.88
2.85
23.65%
TALO
Talos Energy
16.84
7.40
78.39%
MNR
Mach Natural Resources LP
12.57
0.51
4.25%
INR
Infinity Natural Resources, Inc. Class A
15.61
1.89
13.78%
Dorchester Minerals Corporate Events
DividendsFinancial Disclosures
Dorchester Minerals Reports Strong Second-Quarter 2026 Earnings Growth
Positive
Aug 7, 2026
Dorchester Minerals, L.P., a Dallas-based owner of oil and natural gas mineral, royalty and related interests in 28 states, reported a sharp earnings increase for the quarter ended June 30, 2026. The partnership, whose units trade on Nasdaq under ...
Business Operations and StrategyM&A Transactions
Dorchester Minerals Expands Williston Basin Royalty Acreage Portfolio
Positive
Aug 3, 2026
On July 31, 2026, Dorchester Minerals, L.P. closed the acquisition of mineral and royalty interests totaling about 3,100 net royalty acres in five counties across North Dakota’s Williston Basin. The deal, announced via an August 3, 2026 pres...
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...
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.