Dorchester Minerals, L.P. Financial Ratios — DMLP Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	28.54	28.53	36.84	43.02	15.48	29.75	48.25	59.91	51.53	21.31	59.69	80.86	62.14	33.14	16.96
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	28.64	28.65	36.92	42.74	15.62	29.93	48.74	60.78	52.38	21.7	60.75	82.3	63.4	33.64	17.15
Gross Margin (%)	66.58	66.18	72.26	76.21	57.18	69.11	75.67	80.27	74.68	62.49	80.67	81.28	76.48	64.62	46.24
EBITDA Margin (%)	87.1	86.38	85.84	83.75	73.18	78.48	83.3	85.77	84.17	72.49	86.55	87.76	85.85	83.71	81.01
Operating Margin (%)	60.7	60.14	65.89	68.32	41.59	55.83	67.07	73.57	66.96	46.6	75.11	76.47	69.67	57.24	37.53
Incremental Operating Margin (%)	87.8	66.3	202.21	-161.23	93.91	135.61	88.46	96.85	-20.68	96.95	103.9	78.1	235.54	952.02	403.83
Pretax Margin (%)	60.75	60.16	66.16	69.42	41.59	55.83	67.07	73.57	66.96	46.6	75.11	76.47	69.67	57.24	37.53
Profit Margin (%)	60.75	60.16	66.16	69.42	41.59	55.83	67.07	73.57	66.96	46.6	75.11	76.47	69.67	57.24	37.53
Net Income to Common Margin (%)	58.79	58.03	63.88	66.97	39.98	53.87	64.73	70.88	64.76	45.09	72.6	73.84	67.39	55.22	36.15
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	125.19	151.39	127.19	135.05	283.28	130.82	98.31	107.89	135.54	231.24	78.83	104.83	119.69	166.63	244.05
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	2	2	2	2	1	1	1
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	- -	2	2	2	1	1	1	1
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	0.04	0.06	0.02	0.01	0.01	0.01	0.01
Net Debt/EBITDA	-0.24	-0.25	-0.27	-0.29	-0.31	-0.28	-0.29	-0.29	-0.23	-0.33	-0.35	-0.27	-0.33	-0.31	-0.34
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	0.05	0.1	0.03	0.01	0.01	0.01	0.01
Net Debt/EBIT	-0.34	-0.36	-0.35	-0.36	-0.54	-0.39	-0.36	-0.34	-0.29	-0.51	-0.4	-0.31	-0.41	-0.46	-0.73
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	1.95	2.23	1.12	0.77	0.56	0.21	0.17
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	87.58	86.27	84.56	82.37	79.28	74.71	67.05
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	1.87	2.13	1.09	0.74	0.54	0.21	0.17
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	2.22	2.58	1.32	0.93	0.71	0.29	0.25
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	100	100	100	100	100	100	100
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	2.13	2.47	1.28	0.9	0.69	0.28	0.25
Net Debt to Equity	-10.02	-11.19	-13.57	-16.49	-9.75	-12.27	-15.24	-21.1	-13.65	-13.28	-19.88	-23.76	-25.34	-11.75	-13.74
Net Debt/Capital (%)	100	100	100	100	100	100	100	100	119.43	124.15	107.13	104.07	102.87	102.51	101.89
EBITDA	61	55	57	55	23	29	48	63	66	34	81	150	141	135	124
EBITDA-CapEx	61	55	57	55	23	29	48	63	66	34	81	150	141	135	124
Operating Income (Loss)	42	38	43	45	13	21	38	54	53	22	70	131	114	92	57

Liquidity (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	25.07	28.32	15.97	16.15	13.34	29.86	21.71	37.62	6.49	5.98	10.1	11.94	10.53	10.01	11.05
Current Ratio	50.1	53.53	29.68	26.87	23.89	53.77	39.8	61.97	11.97	9.7	16.65	18.31	15.6	15.97	15.54
Quick Ratio	50.1	53.53	29.68	26.87	23.89	53.77	39.8	61.97	11.97	9.7	16.65	18.31	15.6	15.84	15.4
CFO/Avg Current Liab	96.6	106.96	78.49	59.6	36.44	69.82	96.55	111.35	46.42	18.59	30.04	47.32	35.5	30.44	32.95
Common Equity/Total Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	1.95	2.23	1.12	0.77	0.56	0.21	0.17
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	87.58	86.27	84.56	82.37	79.28	74.71	67.05
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	1.87	2.13	1.09	0.74	0.54	0.21	0.17
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	2.22	2.58	1.32	0.93	0.71	0.29	0.25
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	100	100	100	100	100	100	100
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	- -	2.13	2.47	1.28	0.9	0.69	0.28	0.25
CFO/Total Liabilities	8,434.04	10,507.26	5,868.68	5,853.81	4,962.72	10,282.91	3,384.17	4,900	1,453.9	1,047.2	1,598.93	3,112.21	2,538.89	2,640.11	3,070.34
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	3,290.74	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	635.52	698.56	499.71	479.52	327.44	1,176.42	223.05	225.48	90.29	61.9	97.23	146.81	137.71	167.91	149.48

Working Capital (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	21.05	10.19	10.7	11.57	8.61	10.75	10.86	11.42	11.51	7.73	11.25	13.1	11.32	9.6	9.2
Days Sales Outstanding	17.34	35.83	34.12	31.56	42.38	33.97	33.6	31.96	31.72	47.2	32.44	27.86	32.26	38.02	39.66
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	43.37	43.76	26.89	16.44	18.75	31.65	32.75	28.35	16.13	9.7	8.83	11.33	10.52	13.97	21.84
Accounts Payable Turnover Days	8.42	8.34	13.57	22.2	19.47	11.53	11.14	12.88	22.62	37.64	41.33	32.21	34.71	26.12	16.71
Cash Conversion Cycle	8.92	27.49	20.54	9.36	22.91	22.43	22.46	19.09	9.1	9.56	-8.89	-4.35	-2.46	11.9	22.95
Inventory to Cash Days	17.34	35.83	34.12	31.56	42.38	33.97	33.6	31.96	31.72	47.2	32.44	27.86	32.26	38.02	39.66
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	695	624	797	783	303	538	479	473	666	378	694	1,126	1,234	1,394	1,066
- Cash & Cash Equivalents	14	14	15	16	7	8	14	18	15	11	28	41	47	43	42
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	- -	2	2	2	2	1	1	1
Enterprise Value	681	610	782	767	296	530	465	454	653	369	667	1,087	1,189	1,352	1,024
Total Capital	- -	- -	- -	- -	- -	- -	- -	- -	2	2	2	2	1	1	1
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	100	100	100	100	100	100	100
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.01	- -	- -	- -	- -	- -
EV/Sales	9.8	9.65	11.87	11.77	9.3	14.12	8.11	6.2	8.29	7.87	7.14	6.36	7.26	8.37	6.7
EV/EBITDA	11.25	11.17	13.83	14.06	12.7	17.99	9.74	7.23	9.85	10.86	8.25	7.25	8.45	10	8.27
EV/EBIT	16.14	16.04	18.01	17.23	22.35	25.28	12.1	8.43	12.37	16.89	9.51	8.32	10.42	14.63	17.86
EV/Cash Flow to Firm	12.27	10.81	13.86	13.31	10.7	18.75	10.56	7.27	9.88	9.37	9.49	7.39	8.5	10.19	7.73
EV/Free Cash Flow to Firm	12.27	10.81	13.86	13.31	10.7	18.75	10.56	7.26	9.88	9.37	9.49	7.39	8.5	10.19	7.73
Diluted Market Cap	695	624	797	783	303	538	479	473	666	378	694	1,126	1,234	1,394	1,066
Diluted Enterprise Value	681	610	782	767	296	530	465	454	653	369	667	1,087	1,189	1,352	1,024
EV per Share	22.2	19.88	25.49	25.01	9.66	17.28	14.76	14.07	19.13	10.65	19.04	28.89	30.65	32.34	21.5
TTM Sales	69	63	66	65	32	38	57	73	79	47	93	171	164	162	153
TTM EBITDA	61	55	57	55	23	29	48	63	66	34	81	150	141	135	124
TTM Operating Income	42	38	43	45	13	21	38	54	53	22	70	131	114	92	57
TTM Cash Flow to Firm	55	56	56	58	28	28	44	63	66	39	70	147	140	133	132
TTM Free Cash Flow to Firm	55	56	56	58	28	28	44	63	66	39	70	147	140	133	132

Multiples (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	12.53	11.05	14.13	13.58	10.96	19.04	10.87	7.56	10.07	9.6	9.87	7.66	8.83	10.51	8.04
EV/EBIT	16.14	16.04	18.01	17.23	22.35	25.28	12.1	8.43	12.37	16.89	9.51	8.32	10.42	14.63	17.86
Enterprise Value	681	610	782	767	296	530	465	454	653	369	667	1,087	1,189	1,352	1,024
Low Price	20.81	19.87	20.43	22.02	8.77	8.57	13.9	14.11	14.47	8.52	10.96	19.8	26.5	28.41	20.85
EV/Sales	9.8	9.65	11.87	11.77	9.3	14.12	8.11	6.2	8.29	7.87	7.14	6.36	7.26	8.37	6.7
EV/EBITDA	11.25	11.17	13.83	14.06	12.7	17.99	9.74	7.23	9.85	10.86	8.25	7.25	8.45	10	8.27
Price/Earnings	17.01	17	18.94	17.94	23.81	26.61	12.91	9.1	13.05	17.88	10.23	8.93	11.18	15.62	19.29
Price/Earnings Average	19.5	18.86	17.46	19.73	46.25	20.9	13.4	11.01	12.13	19.92	8.39	7.96	10.37	14.93	23.45
Price/Earnings High	22.59	22.25	18.96	24.99	64.42	29.26	16.22	13.14	13.54	35.17	10.8	9.73	11.66	16.75	30.08
Price/Earnings Low	15.62	16.62	14.89	15.48	21.11	12.99	11.8	8.77	9.68	13.96	5.66	5.91	9.31	13.32	17.98
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	4.89	5.06	7.13	8.11	4.15	8.04	5.27	5.45	5.93	4.47	4.87	6.57	6.65	3.85	3.49
Price/Tangible Book Value Average	5.61	5.61	6.57	8.92	8.05	6.32	5.47	6.6	5.51	4.98	3.99	5.85	6.17	3.68	4.24
Price/Tangible Book Value High	6.49	6.62	7.13	11.3	11.22	8.84	6.63	7.88	6.15	8.8	5.14	7.15	6.93	4.13	5.45
Price/Tangible Book Value Low	4.49	4.94	5.6	7	3.68	3.93	4.82	5.26	4.4	3.49	2.7	4.34	5.54	3.28	3.26
Price/Sales	10	9.87	12.1	12.02	9.52	14.33	8.35	6.45	8.45	8.06	7.43	6.59	7.54	8.63	6.97
Price/Sales Average	11.46	10.95	11.15	13.21	18.49	11.26	8.67	7.8	7.86	8.98	6.09	5.87	6.99	8.25	8.48
Price/Sales High	13.28	12.91	12.11	16.73	25.76	15.76	10.5	9.32	8.77	15.86	7.84	7.18	7.86	9.25	10.88
Price/Sales Low	9.19	9.64	9.51	10.36	8.44	7	7.64	6.22	6.27	6.3	4.11	4.36	6.27	7.35	6.5
Price/Cash Flow	12.53	11.05	14.13	13.58	10.96	19.04	10.87	7.56	10.07	9.6	9.87	7.66	8.83	10.51	8.04
Price/Cash Flow Average	14.36	12.26	13.02	14.93	21.28	14.95	11.28	9.14	9.37	10.7	8.09	6.82	8.18	10.04	9.78
Price/Cash Flow High	16.63	14.46	14.14	18.91	29.64	20.94	13.66	10.92	10.45	18.89	10.42	8.34	9.2	11.27	12.55
Price/Cash Flow Low	11.5	10.8	11.11	11.71	9.71	9.3	9.94	7.28	7.47	7.5	5.46	5.07	7.35	8.96	7.5
Price/Free Cash Flow Average	14.36	12.26	13.02	14.93	21.28	14.95	11.28	9.14	9.37	10.7	8.09	6.82	8.18	10.04	9.78
Price/Free Cash Flow High	16.63	14.46	14.14	18.91	29.64	20.94	13.66	10.92	10.45	18.89	10.42	8.34	9.2	11.27	12.55
Price/Free Cash Flow Low	11.5	10.8	11.11	11.71	9.71	9.3	9.94	7.28	7.47	7.5	5.46	5.07	7.35	8.96	7.5
EV/Sales Average	11.26	10.73	10.92	12.97	18.27	11.04	8.43	7.55	7.7	8.79	5.81	5.65	6.71	7.99	8.21
EV/Sales High	13.08	12.69	11.88	16.49	25.53	15.54	10.26	9.07	8.61	15.67	7.56	6.95	7.58	8.99	10.61
EV/Sales Low	8.98	9.43	9.28	10.12	8.22	6.78	7.4	5.97	6.1	6.1	3.83	4.13	6	7.1	6.23
EV/EBITDA Average	12.93	12.42	12.72	15.49	24.96	14.07	10.12	8.8	9.14	12.12	6.71	6.43	7.81	9.54	10.13
EV/EBITDA High	15.01	14.69	13.84	19.69	34.89	19.81	12.31	10.57	10.23	21.61	8.73	7.92	8.83	10.74	13.09
EV/EBITDA Low	10.31	10.91	10.82	12.08	11.23	8.64	8.88	6.96	7.25	8.42	4.42	4.71	6.98	8.48	7.69
EV/EBIT Average	18.55	17.84	16.57	18.98	43.92	19.77	12.57	10.27	11.49	18.86	7.73	7.38	9.63	13.96	21.87
EV/EBIT High	21.55	21.1	18.03	24.13	61.39	27.84	15.29	12.33	12.85	33.62	10.06	9.09	10.88	15.72	28.26
EV/EBIT Low	14.8	15.67	14.09	14.81	19.76	12.15	11.03	8.11	9.12	13.1	5.1	5.4	8.61	12.4	16.61
Last Price	22.66	20.33	25.98	25.53	9.89	17.55	15.2	14.64	19.51	10.91	19.79	29.93	31.83	33.33	22.36
High Price	30.09	26.6	26	35.55	26.76	19.3	19.1	21.15	20.25	21.46	20.89	32.61	33.18	35.74	34.88
Enterprise Value Average	782	678	719	845	582	415	483	553	606	412	542	964	1,099	1,291	1,255
Enterprise Value High	909	802	782	1,075	814	584	588	664	678	735	706	1,188	1,241	1,453	1,621
Enterprise Value Low	624	596	612	660	262	255	424	437	481	286	358	706	982	1,146	952

Shares Outstanding	31	31	31	31	31	31	32	32	35	35	37	38	40	47	48
Diluted Weighted Avg Shares	31	31	31	31	31	31	31	32	34	35	35	38	39	42	48
Basic Weighted Avg Shares	31	31	31	31	31	31	31	32	34	35	35	38	39	42	48
Revenue per Share	2.27	2.06	2.15	2.12	1.04	1.22	1.82	2.27	2.31	1.35	2.67	4.54	4.22	3.86	3.21
EBITDA per Share	1.97	1.78	1.84	1.78	0.76	0.96	1.52	1.95	1.94	0.98	2.31	3.98	3.63	3.23	2.6
Operating Income per Share	1.37	1.24	1.41	1.45	0.43	0.68	1.22	1.67	1.55	0.63	2	3.47	2.94	2.21	1.2
Basic EPS, GAAP	1.33	1.2	1.37	1.42	0.42	0.66	1.18	1.61	1.5	0.61	1.94	3.35	2.85	2.13	1.16
Basic EPS from Cont Ops	1.38	1.24	1.42	1.47	0.43	0.68	1.22	1.67	1.55	0.63	2	3.47	2.94	2.21	1.2
Diluted EPS, GAAP	1.33	1.2	1.37	1.42	0.42	0.66	1.18	1.61	1.5	0.61	1.94	3.35	2.85	2.13	1.16
Diluted EPS from Cont Ops	1.38	1.24	1.42	1.47	0.43	0.68	1.22	1.67	1.55	0.63	2	3.47	2.94	2.21	1.2
Dividend per Share	1.71	1.85	1.79	1.97	1.19	0.89	1.2	1.8	2.08	1.43	1.59	3.63	3.5	3.63	2.87
Cash Flow per Share	1.81	1.84	1.84	1.88	0.9	0.92	1.4	1.94	1.94	1.14	2.01	3.91	3.61	3.17	2.78
Free Cash Flow per Basic Share	1.81	1.84	1.84	1.88	0.9	0.92	1.4	1.94	1.94	1.14	2.01	3.91	3.61	3.17	2.78
Cash & Equivalents per Share	0.46	0.45	0.49	0.52	0.23	0.27	0.44	0.57	0.45	0.32	0.81	1.08	1.21	1.02	0.88
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	4.63	4.02	3.65	3.15	2.39	2.18	2.88	2.68	3.29	2.44	4.06	4.56	4.78	8.65	6.41

Dorchester Minerals, L.P.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)