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DMLP

Dorchester Minerals, L.P.

Energy · $1.4B market cap

Verdict

Share price

$28.64

close of Oct 3, 2026

Fair value

$17.45

Sticker Price

Payback Price

$6.98

buy price

Overpriced

DMLP is Overpriced: at $28.64 it trades 64% above its fair value of $17.45. Its buy price (Payback Price) is $6.98, 76% below today's price. Business quality is limited: only 1 of 5 key numbers clears the 10% bar.

How we valued it

Owner Earnings. Earnings grow slowly (under 7% a year), but cash flow is steady, so we value it on its cash flow instead of its earnings.

Business quality

1 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth3.9% a year✗
Equity per share growth-1.3% a year✗
Sales growth5.2% a year✗
Free cash flow growth2.8% a year✗
Return on invested capital35.1%✓

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Insider activity

Since Aug 19, 2026: 1 open-market purchase worth $147K. Why purchases matter

Purchases

MORIYAMA LESLIE A

Chief Financial Officer · 2026-08-19

Bought

$147K

About Dorchester Minerals, L.P.

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 royalty holdings encompass mineral, royalty, and overriding royalty interests, spanning 582 counties and parishes in 26 states. The firm's net profits interests represent…

Oil & Gas Exploration & Production

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works