Dorchester Minerals, L.P. (DMLP) Balance Sheet
DMLP balance sheet, 2025
December 31, 2025 · U.S. dollars$309.6M assets = $4.3M liabilities + $305.2M equity
Both columns are drawn to the same scale: what DMLP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DMLP financial health
Descriptive bands, not a rating. Fiscal 2025.
DMLP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $67.2M2016 | $309.6M2025 | +18.5%/yr | |
| Total liabilities | $275,0002016 | $4.3M2025 | +35.8%/yr | |
| Shareholders’ equity | $66.9M2016 | $310.1M2025 | +18.6%/yr | |
| Cash & short-term investments | $8.2M2016 | $41.9M2025 | +19.9%/yr | |
| Total debt | $2.5M2019 | $777,0002025 | −17.7%/yr | |
| Net cash (debt) | $12.8M2019 | $41.2M2025 | +$28.3M | |
| Working capital | $14.5M2016 | $55.1M2025 | +$40.7M | |
| Book value per share | $2.182016 | $6.512025 | +12.9%/yr | |
| Debt / equity | 0.022019 | 0.002025 | −0.02 | |
| Shares outstanding | 30.7M2016 | 47.7M2025 | +5.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DMLP assets
DMLP liabilities and equity
DMLP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DMLP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $41.9M | $42.5M | $47.0M | $40.8M | $28.3M | $11.2M | $15.3M | $18.3M | $13.8M | $8.2M |
| Cash & equivalents | $41.9M | $42.5M | $47.0M | $40.8M | $28.3M | $11.2M | $15.3M | $18.3M | $13.8M | $8.2M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $16.5M | $25.3M | $22.7M | $21.7M | $18.4M | $7.0M | $12.9M | $11.8M | $11.5M | $6.6M |
| Inventory | $0 | $0 | $0 | −$14.5M | $0 | $0 | −$7.1M | −$6.6M | $0 | −$4.3M |
| Other current assets | $526,000 | $0 | $0 | $14.5M | $0 | $0 | $7.1M | $6.6M | $0 | $4.3M |
| Total current assets | $58.9M | $67.8M | $69.7M | $62.5M | $46.7M | $18.2M | $28.3M | $30.1M | $25.4M | $14.8M |
| Property, plant & equipment (net) | $423,000 | $299.0M | $121.4M | $113.8M | $100.1M | $70.1M | $88.6M | $57.8M | $66.7M | $52.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $250.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $19,000 |
| Total assets | $309.6M | $366.8M | $191.1M | $176.2M | $146.8M | $88.3M | $116.9M | $87.9M | $92.0M | $67.2M |
| Liabilities | ||||||||||
| Accounts payable | $3.5M | $4.0M | $4.2M | $3.1M | $2.5M | $1.6M | $2.1M | $421,000 | $599,000 | $252,000 |
| Short-term debt | $256,000 | $263,000 | $272,000 | $281,000 | $291,000 | $300,000 | $310,000 | — | — | — |
| Deferred revenue | — | — | −$272,000 | −$281,000 | −$291,000 | −$300,000 | −$2.1M | — | — | $23,000 |
| Total current liabilities | $3.8M | $4.2M | $4.5M | $3.4M | $2.8M | $1.9M | $2.4M | $486,000 | $637,000 | $275,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $777,000 | $1.0M | $1.3M | $1.6M | $1.9M | $2.2M | $2.5M | — | — | — |
| Other long-term liabilities | $521,000 | $777,000 | $1.0M | $1.3M | $1.6M | $1.9M | $2.2M | $790,000 | $664,000 | $0 |
| Total liabilities | $4.3M | $5.0M | $5.5M | $4.7M | $4.4M | $3.8M | $4.5M | $1.3M | $1.3M | $275,000 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $310.1M | $363.8M | $185.4M | $170.8M | $141.4M | $84.0M | $111.1M | $84.8M | $89.0M | $65.1M |
| Retained earnings (deficit) | — | — | — | $130.6M | — | — | — | — | $0 | $0 |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | — | −$319.7M | −$307.0M | −$298.1M | −$288.8M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $310.1M | $363.8M | $185.4M | $170.8M | $141.4M | $84.0M | $111.1M | −$307.0M | $90.7M | $66.9M |
| Key figures | ||||||||||
| Total debt | $777,000 | $1.0M | $1.3M | $1.6M | $1.9M | $2.2M | $2.5M | — | — | — |
| Net cash (debt) | $41.2M | $41.5M | $45.7M | $39.2M | $26.4M | $9.0M | $12.8M | — | — | — |
| Working capital | $55.1M | $63.6M | $65.2M | $59.1M | $43.9M | $16.3M | $25.9M | $29.6M | $24.7M | $14.5M |
| Tangible book value | $310.1M | $363.8M | $185.4M | $170.8M | $141.4M | $84.0M | $111.1M | −$307.0M | $90.7M | $66.9M |
| Book value per share | $6.51 | $8.70 | $4.78 | $4.54 | $4.03 | $2.42 | $3.26 | −$9.51 | $2.88 | $2.18 |
| Shares outstanding | 47.7M | 41.8M | 38.8M | 37.6M | 35.1M | 34.7M | 34.1M | 32.3M | 31.5M | 30.7M |
| Current ratio | 15.54 | 15.97 | 15.60 | 18.31 | 16.65 | 9.70 | 11.97 | 61.97 | 39.80 | 53.71 |
| Quick ratio | 15.40 | 15.97 | 15.60 | 18.31 | 16.65 | 9.70 | 11.97 | 61.97 | 39.80 | 53.77 |
| Debt / equity | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.03 | 0.02 | — | — | — |
| Equity / assets | 100.2% | 99.2% | 97.1% | 96.9% | 96.3% | 95.1% | 95.1% | −349.2% | 98.6% | 99.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $72.5M | $28.2M | $41.9M | $41.6M | $36.5M | $41.5M | $42.5M | $56.5M | $35.2M | $37.7M | $47.0M | $43.5M |
| Cash & equivalents | $72.5M | $28.2M | $41.9M | $41.6M | $36.5M | $41.5M | $42.5M | $56.5M | $35.2M | $37.7M | $47.0M | $43.5M |
| Receivables | $27.0M | $45.9M | $16.5M | $20.9M | $23.2M | $26.9M | $25.3M | $29.5M | $22.2M | $20.9M | $22.7M | $19.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$16.3M | −$13.8M | $0 | −$14.2M |
| Other current assets | $270,000 | $393,000 | $526,000 | $0 | $0 | $0 | $0 | $0 | $16.3M | $13.8M | $0 | $14.2M |
| Total current assets | $99.8M | $74.4M | $58.9M | $62.5M | $59.7M | $68.5M | $67.8M | $86.0M | $57.4M | $58.6M | $69.7M | $63.1M |
| Property, plant & equipment (net) | $214.2M | $384,000 | $423,000 | $267.9M | $265.9M | $280.6M | $299.0M | $317.4M | $118.6M | $126.2M | $121.4M | $129.2M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $226.8M | $250.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 |
| Total assets | $314.0M | $301.6M | $309.6M | $330.4M | $325.6M | $349.0M | $366.8M | $403.4M | $176.0M | $184.8M | $191.1M | $192.3M |
| Liabilities | ||||||||||||
| Accounts payable | $6.8M | $4.2M | $3.5M | $6.0M | $4.9M | $4.9M | $4.0M | $5.8M | $4.3M | $4.2M | $4.2M | $7.5M |
| Short-term debt | $355,000 | $252,000 | $256,000 | $257,000 | $259,000 | $261,000 | $263,000 | $265,000 | $268,000 | $270,000 | $272,000 | $275,000 |
| Deferred revenue | — | — | — | — | — | — | — | −$5.8M | −$4.3M | −$4.2M | −$272,000 | −$7.5M |
| Total current liabilities | $7.2M | $4.5M | $3.8M | $6.2M | $5.1M | $5.2M | $4.2M | $6.0M | $4.6M | $4.5M | $4.5M | $7.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $3.5M | $713,000 | $777,000 | $842,000 | $907,000 | $974,000 | $1.0M | $1.1M | $1.2M | $1.2M | $1.3M | $1.4M |
| Other long-term liabilities | $3.1M | $461,000 | $521,000 | $585,000 | $648,000 | $713,000 | $777,000 | $842,000 | $907,000 | $974,999 | $1.0M | $1.1M |
| Total liabilities | $10.3M | $4.9M | $4.3M | $6.8M | $5.8M | $5.9M | $5.0M | $6.9M | $5.5M | $5.5M | $5.5M | $8.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $301.9M | $310.1M | $327.8M | $323.3M | $345.8M | $363.8M | $397.2M | $171.6M | $180.2M | $185.4M | $183.4M |
| Total shareholders' equity | $303.7M | $301.9M | $310.1M | $327.8M | $323.3M | $345.8M | $363.8M | $397.2M | $171.6M | $180.2M | $185.4M | $183.4M |
| Key figures | ||||||||||||
| Total debt | $3.5M | $713,000 | $777,000 | $842,000 | $907,000 | $974,000 | $1.0M | $1.1M | $1.2M | $1.2M | $1.3M | $1.4M |
| Net cash (debt) | $69.0M | $27.4M | $41.2M | $40.8M | $35.6M | $40.6M | $41.5M | $55.4M | $34.0M | $36.5M | $45.7M | $42.1M |
| Working capital | $92.6M | $70.0M | $55.1M | $56.3M | $54.6M | $63.3M | $63.6M | $79.9M | $52.8M | $54.1M | $65.2M | $55.4M |
| Tangible book value | $303.7M | $301.9M | $310.1M | $327.8M | $323.3M | $345.8M | $363.8M | $397.2M | $171.6M | $180.2M | $185.4M | $183.4M |
| Book value per share | $6.29 | $6.26 | $6.51 | $6.88 | $6.83 | $7.30 | $7.68 | $9.89 | $4.28 | $4.55 | $4.68 | $4.73 |
| Shares outstanding | 48.3M | 48.3M | 47.7M | 47.7M | 47.3M | 47.3M | 47.3M | 40.2M | 40.1M | 39.6M | 39.6M | 38.8M |
| Current ratio | 13.85 | 16.61 | 15.54 | 10.05 | 11.61 | 13.19 | 15.97 | 14.21 | 12.54 | 13.07 | 15.60 | 8.15 |
| Quick ratio | 13.82 | 16.52 | 15.40 | 10.05 | 11.61 | 13.19 | 15.97 | 14.21 | 12.54 | 13.07 | 15.60 | 8.15 |
| Debt / equity | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| Equity / assets | 96.7% | 100.1% | 100.2% | 99.2% | 99.3% | 99.1% | 99.2% | 98.5% | 97.5% | 97.5% | 97.1% | 95.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
DMLP financial position
At the end of fiscal 2025 (December 31, 2025), Dorchester Minerals had total assets of $309.6 million (down 15.6% from a year earlier), total liabilities of $4.3 million and shareholders' equity of $310.1 million. It held $41.9 million in cash and short-term investments against $0.8 million of debt, a net cash position of $41.2 million. Its current ratio was 15.54. In the latest quarter (ended June 30, 2026) total assets were $314.0 million and equity $303.7 million.
Related: DMLP income statement, DMLP cash flow statement, DMLP key metrics. See the DMLP stock overview for the latest quote and news.
DMLP balance sheet FAQ
What are Dorchester Minerals's total assets?
Dorchester Minerals reported total assets of $309.6 million at the end of fiscal 2025 (December 31, 2025), compared with $366.8 million a year earlier.
How much debt does Dorchester Minerals have?
Dorchester Minerals had $0.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Dorchester Minerals have?
Dorchester Minerals held $41.9 million in cash and short-term investments at the end of fiscal 2025; with $0.8 million of debt that is net cash of $41.2 million.
What is Dorchester Minerals's book value?
Dorchester Minerals's shareholders' equity (book value) was $310.1 million at the end of fiscal 2025, or $6.51 per share.
What is Dorchester Minerals's current ratio?
Dorchester Minerals had current assets of $58.9 million and current liabilities of $3.8 million, a current ratio of 15.54 (it can cover its short-term obligations).