Dorchester Minerals LP (Dorchester Minerals LP) Operating Income : $114.1 Mil (TTM As of Dec. 2023)

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What is Dorchester Minerals LP Operating Income?

Dorchester Minerals LP's Operating Income for the three months ended in Dec. 2023 was $36.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $114.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Dorchester Minerals LP's Operating Income for the three months ended in Dec. 2023 was $36.8 Mil. Dorchester Minerals LP's Revenue for the three months ended in Dec. 2023 was $50.4 Mil. Therefore, Dorchester Minerals LP's Operating Margin % for the quarter that ended in Dec. 2023 was 72.95%.

Good Sign:

Dorchester Minerals LP operating margin is expanding. Margin expansion is usually a good sign.

Dorchester Minerals LP's 5-Year average Growth Rate for Operating Margin % was 1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Dorchester Minerals LP's annualized ROC % for the quarter that ended in Dec. 2023 was 104.65%. Dorchester Minerals LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 109.99%.

Dorchester Minerals LP Operating Income Historical Data

The historical data trend for Dorchester Minerals LP's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Dorchester Minerals LP Operating Income Chart

Dorchester Minerals LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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52.77

21.87

70.17

130.61

114.12

Dorchester Minerals LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															28.46	28.07	19.80	29.46	36.78

Dorchester Minerals LP Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $114.1 Mil.

Dorchester Minerals LP (NAS:DMLP) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Dorchester Minerals LP's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	147.12 * ( 1 - 0% )	/	( (141.329	+	139.845)	/ 2 )
=	147.12	/	140.587
=	104.65 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	192.287	-	7.466	-	( 43.492	-	max(0, 7.741	-	63.11	+	43.492	))
=	141.329

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	191.065	-	4.195	-	( 47.025	-	max(0, 4.467	-	69.707	+	47.025	))
=	139.845

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Dorchester Minerals LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	147.12	/	( ( (129.177 + max(6.758, 0))	+	(121.358 + max(10.212, 0)) )	/	2 )
=	147.12	/	( ( 135.935	+	131.57 )	/	2 )
=	147.12	/	133.7525
=	109.99 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(14.224	+	0	+	0)	-	(7.466	+	0	+	-8.8817841970013E-16)
=	6.758

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(14.407	+	0	+	0)	-	(4.195	+	0	+	-8.8817841970013E-16)
=	10.212

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Dorchester Minerals LP's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	36.78	/	50.419
	=	72.95 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Dorchester Minerals LP Operating Income Related Terms

Thank you for viewing the detailed overview of Dorchester Minerals LP's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Dorchester Minerals LP (Dorchester Minerals LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Dorchester Minerals LP (NAS:DMLP) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

3838 Oak Lawn Avenue, Suite 300, Dallas, TX, USA, 75219

Website

https://www.dmlp.net

Dorchester Minerals LP operates as the owner of producing and non-producing crude oil and natural gas mineral, royalty, overriding royalty, net profits, and leasehold interests. The company generates revenues from royalties, net profits interests, lease bonus, and others. It has leasehold interests in approximately 592 counties and parishes in around 28 states.

Executives

Dorchester Minerals Operating Lp	other: Entity Under Common Control	3838 OAK LAWN AVE, STE 300, DALLAS TX 75219
Bradley J Ehrman	officer: Chief Operating Officer	3838 OAK LAWN AVE, STE 300, DALLAS TX 75219
Leslie A Moriyama	officer: Chief Financial Officer	3838 OAK LAWN AVE, STE 300, DALLAS TX 75219
William Casey Mcmanemin	director, 10 percent owner, officer: Chief Executive Officer	C/O DORCHESTER MINERALS, L.P., 3838 OAK LAWN, SUITE 300, DALLAS TX 75219
Martha Rochelle	director	3838 OAK LAWN AVENUE, SUITE 300, DALLAS TX 75219
Allen H C Jr	director, officer: Chief Financial Officer	3838 OAK LAWN, SUITE 300, DALLAS TX 75219
Robert C Vaughn	director	3838 OAK LAWN AVENUE, SUITE 710, DALLAS TX 75219
Allen D Lassiter	director	25 HIGHLAND PARK VILLAGE, STE 100-780, DALLAS TX 75205
James E Raley	director, officer: CHIEF OPERATING OFFICER	9666 ATHERTON DRIVE, DALLAS TX 75243
Buford P Berry	director	1700 PACIFIC, SUITE 3300, DALLAS TX 75201
Charles William Russell	director	4695 N FM 2869, WINNSBORO TX 75494
Preston A Peak	director	3838 OAK LAWN AVENUE, SUITE 300, DALLAS TX 75219
Ronald Paul Trout	director	1241 MOHAWK TRAIL, RICHARDSON, RICHARDSON TX 75080
Lucent Technologies Inc. Master Pension Trust	10 percent owner	600 MOUNTAIN AVENUE, ROOM 7D-523, MURRAY HILL NJ 07974
Wolf Partners Red	10 percent owner	3738 OAK LAWN AVE STE 300, DALLAS TX 75201