Dorchester Minerals LP (DMLP)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from DMLP's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Dorchester Minerals LP's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $93M | $171M | $164M | $162M | $153M |
| Net income | $70M | $131M | $114M | $92M | $57M |
| Free cash flow | — | — | — | — | — |
| EPS (diluted) | $1.94 | $3.35 | $2.85 | $2.13 | $1.16 |
| Operating margin | 75.1% | 76.5% | 69.7% | 57.2% | 37.5% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own DMLP
From each investor's latest 13F filing (what a 13F shows). 1 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Murray Stahl Horizon Kinetics LLC |
Trimmed | $22M | 0.24% | Q2 2026 |
Insider buying
Open-market purchases by Dorchester Minerals LP's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you. Every purchase since records began.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 13, 2026 | August Pfluger |
0 | $26.97 | — |
| Mar 13, 2026 | August Pfluger |
0 | $26.97 | — |
| Dec 22, 2025 | Minerals Operating Dorchester |
10,000 | $22.30 | $223,000 |
| Dec 19, 2025 | Minerals Operating Dorchester |
5,000 | $22.23 | $111,150 |
| Dec 3, 2025 | Frank Damon Box |
5,000 | $21.96 | $109,800 |
| Nov 28, 2025 | Robert C Vaughn |
195 | $21.36 | $4,165 |
| Nov 26, 2025 | Bradley J Ehrman |
2,487 | $21.60 | $53,719 |
| Nov 25, 2025 | Bradley J Ehrman |
1,000 | $21.26 | $21,260 |
| Nov 25, 2025 | Leslie A Moriyama |
3,041 | $21.50 | $65,382 |
| Nov 25, 2025 | Robert C Vaughn |
4,615 | $21.41 | $98,807 |
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In the full deep dive
Questions
Are Dorchester Minerals LP insiders buying the stock?
10 open-market insider purchases of DMLP in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Dorchester Minerals LP?
1 of the superinvestors Investingly tracks hold DMLP in their latest 13F, including Murray Stahl.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.