(DMLP) Dorchester Minerals - Ratings and Ratios
Royalties, Oil, Gas, Minerals
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 12.47% |
| Yield on Cost 5y | 41.60% |
| Yield CAGR 5y | 25.84% |
| Payout Consistency | 92.6% |
| Payout Ratio | 2.5% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 21.7% |
| Value at Risk 5%th | 35.4% |
| Relative Tail Risk | -0.53% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.22 |
| Alpha | -35.02 |
| CAGR/Max DD | 0.07 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.412 |
| Beta | 0.464 |
| Beta Downside | 0.595 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.31% |
| Mean DD | 9.64% |
| Median DD | 8.22% |
Description: DMLP Dorchester Minerals November 15, 2025
Dorchester Minerals, L.P. (NASDAQ:DMLP) is a Dallas-based master limited partnership that acquires and administers royalty interests across 594 U.S. counties and parishes in 28 states. Its portfolio includes producing and non-producing mineral royalties, overriding royalties, net-profits interests, and leasehold rights, with Dorchester Minerals Management LP acting as the general partner.
Key operating metrics (as of the most recent 10-K) show a distribution yield near 9% and cash flow from operations of roughly $120 million, supporting a quarterly payout of $0.45 per unit. The partnership’s royalty exposure is weighted toward the Permian Basin (≈35% of net-profits interests) and the Eagle Ford (≈20%), making its performance highly sensitive to West Texas crude price differentials and natural-gas price spreads.
Sector-wide, US upstream capital spending is projected to rise 7% YoY in 2025, driven by higher oil prices and continued drilling in shale plays; this macro trend should bolster royalty cash flows, but the magnitude depends on drilling efficiency and commodity price volatility-both of which remain uncertain. If oil prices fall below $70 per barrel for an extended period, DMLP’s distribution sustainability could be materially pressured.
For a deeper, data-driven assessment of DMLP’s valuation assumptions and scenario analysis, you may find the research tools on ValueRay worth exploring.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income (54.0m TTM) > 0 and > 6% of Revenue (6% = 9.04m TTM) |
| FCFTA 0.39 (>2.0%) and ΔFCFTA 4.79pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 37.34% (prev 46.39%; Δ -9.05pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.39 (>3.0%) and CFO 129.7m > Net Income 54.0m (YES >=105%, WARN >=100%) |
| Net Debt (-40.8m) to EBITDA (121.8m) ratio: -0.33 <= 3.0 (WARN <= 3.5) |
| Current Ratio 10.05 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (47.7m) change vs 12m ago 18.68% (target <= -2.0% for YES) |
| Gross Margin 56.86% (prev 79.33%; Δ -22.47pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 41.07% (prev 42.70%; Δ -1.63pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| error: Interest Coverage Ratio cannot be calculated (needs EBITDA TTM and Interest Expense TTM) |
ValueRay F-Score (Strict, 0-100) 71.01
| 1. Piotroski 4.50pt |
| 2. FCF Yield 11.70% |
| 3. FCF Margin 86.07% |
| 4. Debt/Equity 0.00 |
| 5. Debt/Ebitda -0.33 |
| 6. ROIC - WACC (= 5.27)% |
| 7. RoE 15.93% |
| 8. Rev. Trend -1.68% |
| 9. EPS Trend -75.67% |
What is the price of DMLP shares?
Over the past week, the price has changed by +2.33%, over one month by -1.01%, over three months by -10.61% and over the past year by -24.10%.
Is DMLP a buy, sell or hold?
What are the forecasts/targets for the DMLP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 23.4 | 5.7% |
DMLP Fundamental Data Overview December 19, 2025
P/E Trailing = 22.0463
P/S = 7.4697
P/B = 3.2288
Beta = 0.569
Revenue TTM = 150.7m USD
EBIT TTM = 55.4m USD
EBITDA TTM = 121.8m USD
Long Term Debt = 842.0k USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 257.0k USD (from shortTermDebt, last quarter)
Debt = 842.0k USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -40.8m USD (from netDebt column, last quarter)
Enterprise Value = 1.11b USD (1.15b + Debt 842.0k - CCE 41.6m)
Interest Coverage Ratio = unknown (Ebit TTM 55.4m / Interest Expense TTM 0.0)
FCF Yield = 11.70% (FCF TTM 129.7m / Enterprise Value 1.11b)
FCF Margin = 86.07% (FCF TTM 129.7m / Revenue TTM 150.7m)
Net Margin = 35.84% (Net Income TTM 54.0m / Revenue TTM 150.7m)
Gross Margin = 56.86% ((Revenue TTM 150.7m - Cost of Revenue TTM 65.0m) / Revenue TTM)
Gross Margin QoQ = 87.78% (prev 46.83%)
Tobins Q-Ratio = 3.35 (Enterprise Value 1.11b / Total Assets 330.4m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 842.0k)
Taxrate = 21.0% (US default 21%)
NOPAT = 43.8m (EBIT 55.4m * (1 - 21.00%))
Current Ratio = 10.05 (Total Current Assets 62.5m / Total Current Liabilities 6.22m)
Debt / Equity = 0.00 (Debt 842.0k / totalStockholderEquity, last quarter 323.6m)
Debt / EBITDA = -0.33 (Net Debt -40.8m / EBITDA 121.8m)
Debt / FCF = -0.31 (Net Debt -40.8m / FCF TTM 129.7m)
Total Stockholder Equity = 339.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 16.35% (Net Income 54.0m / Total Assets 330.4m)
RoE = 15.93% (Net Income TTM 54.0m / Total Stockholder Equity 339.1m)
RoCE = 16.30% (EBIT 55.4m / Capital Employed (Equity 339.1m + L.T.Debt 842.0k))
RoIC = 12.98% (NOPAT 43.8m / Invested Capital 337.1m)
WACC = 7.71% (E(1.15b)/V(1.15b) * Re(7.72%) + D(842.0k)/V(1.15b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 7.72% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 9.74%
[DCF Debug] Terminal Value 78.49% ; FCFE base≈133.4m ; Y1≈135.2m ; Y5≈147.4m
Fair Price DCF = 53.90 (DCF Value 2.60b / Shares Outstanding 48.3m; 5y FCF grow 1.03% → 3.0% )
EPS Correlation: -75.67 | EPS CAGR: -24.56% | SUE: N/A | # QB: 0
Revenue Correlation: -1.68 | Revenue CAGR: 4.24% | SUE: N/A | # QB: 0
Additional Sources for DMLP Stock
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Fund Manager Positions: Dataroma | Stockcircle