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Dorchester Minerals, L.P. cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$42.9M in Q3 2026 · $165M over twelve months

Operating cash flow$42.9M
Free cash flow+$42.9M
Cash / net income1.6×

Analysis

In Q3 2026, Dorchester Minerals, L.P. generated $42.9M of operating cash flow. That is $8.7M more than in Q3 2025 ($34.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $165M; the cash balance rose by $14.1M.

Operating cash flow was $42.9M against net income of $27.6M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$15.7M, receivables −$3.9M, payables +$480K.

Free cash flow

Dorchester Minerals, L.P.: free cash flow by quarterDorchester Minerals, L.P.: free cash flow by quarter$31.5MQ4 2024$33.4MQ1 2025$30.5MQ2 2025$34.3MQ3 2025$34.3MQ4 2025$23.9MQ1 2026$64.2MQ2 2026$42.9MQ3 2026
Operating cash flow less capital spending.
Dorchester Minerals, L.P.: operating cash flow against capital spendingDorchester Minerals, L.P.: operating cash flow against capital spendingOperating cash flowCapital spending$31.5M$0Q4 2024$33.4M$0Q1 2025$30.5M$0Q2 2025$34.3M$0Q3 2025$34.3M$0Q4 2025$23.9M$0Q1 2026$64.2M$0Q2 2026$42.9M$0Q3 2026
Latest (Q3 2026): Operating cash flow $42.9M, Capital spending $0.

Capital allocation, year by year

Dorchester Minerals, L.P.: where the cash came from (up) and went (down), by fiscal yearDorchester Minerals, L.P.: where the cash came from (up) and went (down), by fiscal yearOperating cash flowFY2021: Operating cash flow $70.3M$70.3MFY2021FY2022: Operating cash flow $147M$147MFY2022FY2023: Operating cash flow $140M$140MFY2023FY2024: Operating cash flow $133M$133MFY2024FY2025: Operating cash flow $132M$132MFY2025
Over these 5 years operating cash flow totalled $622M. Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$55.7M
Debtnone
Net cash$55.7M

Dorchester Minerals, L.P. funds itself: free cash flow was $165M over the last twelve months, with $55.7M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Dorchester Minerals, L.P.: sources (+) and uses (−) of cash, Q3 2026Dorchester Minerals, L.P.: sources (+) and uses (−) of cash, Q3 2026Not reconciled−$59.8MOperating cash flow$42.9MCash drawn (+) / kept (−)$16.8M
Dorchester Minerals, L.P.: sources (+) and uses (−) of cash, TTM to Q3 2026Dorchester Minerals, L.P.: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$165MNot reconciled−$151MCash drawn (+) / kept (−)−$14.1M

From profit to cash

Dorchester Minerals, L.P.: net income to operating cash flow, Q3 2026Dorchester Minerals, L.P.: net income to operating cash flow, Q3 2026Net income$27.6MDepreciation & amortization$15.7MReceivables−$3.9MPayables$480KPrepaid and other assets$107KOperating cash flow$42.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCash drawn (+) / kept (−)Free cash flow
Q3 2026$42.9M$16.8M$42.9M
Q2 2026$64.2M−$44.3M$64.2M
Q1 2026$23.9M$13.8M$23.9M
Q4 2025$34.3M−$331K$34.3M
Q3 2025$34.3M−$5.1M$34.3M
Q2 2025$30.5M$5.0M$30.5M
Q1 2025$33.4M$963K$33.4M
Q4 2024$31.5M$14.0M$31.5M

Dorchester Minerals, L.P.: income statement and cash flow

Dorchester Minerals, L.P., Q3 2026: revenue $51.4M (+45% year over year), operating margin 53.7%. The chart follows the revenue to costs, profit and cash.

Dorchester Minerals, L.P.: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.