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Side-by-side financial comparison of DORCHESTER MINERALS, L.P. (DMLP) and Star Equity Holdings, Inc. (STRR). Click either name above to swap in a different company.

Star Equity Holdings, Inc. is the larger business by last-quarter revenue ($56.8M vs $41.9M, roughly 1.4× DORCHESTER MINERALS, L.P.). DORCHESTER MINERALS, L.P. runs the higher net margin — 38.7% vs -3.0%, a 41.7% gap on every dollar of revenue. On growth, Star Equity Holdings, Inc. posted the faster year-over-year revenue change (69.0% vs 5.4%). Over the past eight quarters, Star Equity Holdings, Inc.'s revenue compounded faster (29.5% CAGR vs 16.2%).

Dorchester Minerals, L.P. is a publicly traded master limited partnership based in the United States. It acquires, owns, and manages a diversified portfolio of royalty interests, net profit interests, and mineral properties associated with oil, natural gas, and natural gas liquids production across key onshore U.S. energy basins, delivering stable cash flow returns to its unitholders.

Artists Equity is an American production company founded by actors and filmmakers Ben Affleck and Matt Damon in November 2022.

DMLP vs STRR — Head-to-Head

Bigger by revenue
STRR
STRR
1.4× larger
STRR
$56.8M
$41.9M
DMLP
Growing faster (revenue YoY)
STRR
STRR
+63.6% gap
STRR
69.0%
5.4%
DMLP
Higher net margin
DMLP
DMLP
41.7% more per $
DMLP
38.7%
-3.0%
STRR
Faster 2-yr revenue CAGR
STRR
STRR
Annualised
STRR
29.5%
16.2%
DMLP

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
DMLP
DMLP
STRR
STRR
Revenue
$41.9M
$56.8M
Net Profit
$16.2M
$-1.7M
Gross Margin
Operating Margin
-0.2%
Net Margin
38.7%
-3.0%
Revenue YoY
5.4%
69.0%
Net Profit YoY
13.7%
-192.1%
EPS (diluted)
$-0.49

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
DMLP
DMLP
STRR
STRR
Q4 25
$41.9M
$56.8M
Q3 25
$35.4M
$48.0M
Q2 25
$32.4M
$35.5M
Q1 25
$43.2M
$31.9M
Q4 24
$39.7M
$33.6M
Q3 24
$53.5M
$36.9M
Q2 24
$37.4M
$35.7M
Q1 24
$31.0M
$33.9M
Net Profit
DMLP
DMLP
STRR
STRR
Q4 25
$16.2M
$-1.7M
Q3 25
$11.2M
$-1.8M
Q2 25
$12.3M
$-688.0K
Q1 25
$17.6M
$-1.8M
Q4 24
$14.2M
$-585.0K
Q3 24
$36.4M
$-846.0K
Q2 24
$23.6M
$-441.0K
Q1 24
$18.2M
$-2.9M
Gross Margin
DMLP
DMLP
STRR
STRR
Q4 25
Q3 25
43.0%
Q2 25
Q1 25
Q4 24
Q3 24
50.5%
Q2 24
Q1 24
Operating Margin
DMLP
DMLP
STRR
STRR
Q4 25
-0.2%
Q3 25
-3.4%
Q2 25
-0.6%
Q1 25
-5.4%
Q4 24
-0.4%
Q3 24
-1.2%
Q2 24
-0.5%
Q1 24
-9.0%
Net Margin
DMLP
DMLP
STRR
STRR
Q4 25
38.7%
-3.0%
Q3 25
31.5%
-3.7%
Q2 25
38.1%
-1.9%
Q1 25
40.9%
-5.5%
Q4 24
35.9%
-1.7%
Q3 24
68.1%
-2.3%
Q2 24
63.2%
-1.2%
Q1 24
58.6%
-8.6%
EPS (diluted)
DMLP
DMLP
STRR
STRR
Q4 25
$-0.49
Q3 25
$-0.54
Q2 25
$-0.23
Q1 25
$-0.59
Q4 24
$-0.21
Q3 24
$-0.28
Q2 24
$-0.15
Q1 24
$-0.95

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DMLP
DMLP
STRR
STRR
Cash + ST InvestmentsLiquidity on hand
$41.9M
$10.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$65.7M
Total Assets
$309.6M
$113.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DMLP
DMLP
STRR
STRR
Q4 25
$41.9M
$10.3M
Q3 25
$41.6M
$15.4M
Q2 25
$36.5M
$16.8M
Q1 25
$41.5M
$16.6M
Q4 24
$42.5M
$17.0M
Q3 24
$56.5M
$15.8M
Q2 24
$35.2M
$14.7M
Q1 24
$37.7M
$20.4M
Total Debt
DMLP
DMLP
STRR
STRR
Q4 25
Q3 25
$6.5M
Q2 25
Q1 25
Q4 24
$0
Q3 24
Q2 24
Q1 24
Stockholders' Equity
DMLP
DMLP
STRR
STRR
Q4 25
$65.7M
Q3 25
$67.8M
Q2 25
$40.1M
Q1 25
$39.5M
Q4 24
$40.4M
Q3 24
$42.9M
Q2 24
$42.6M
Q1 24
$44.3M
Total Assets
DMLP
DMLP
STRR
STRR
Q4 25
$309.6M
$113.2M
Q3 25
$330.4M
$117.1M
Q2 25
$325.6M
$55.6M
Q1 25
$349.0M
$53.2M
Q4 24
$366.8M
$52.6M
Q3 24
$403.4M
$52.6M
Q2 24
$176.0M
$52.6M
Q1 24
$184.8M
$52.6M
Debt / Equity
DMLP
DMLP
STRR
STRR
Q4 25
Q3 25
0.10×
Q2 25
Q1 25
Q4 24
0.00×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DMLP
DMLP
STRR
STRR
Operating Cash FlowLast quarter
$34.3M
$-7.3M
Free Cash FlowOCF − Capex
$-9.0M
FCF MarginFCF / Revenue
-15.8%
Capex IntensityCapex / Revenue
3.0%
Cash ConversionOCF / Net Profit
2.12×
TTM Free Cash FlowTrailing 4 quarters
$-13.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DMLP
DMLP
STRR
STRR
Q4 25
$34.3M
$-7.3M
Q3 25
$34.3M
$-2.7M
Q2 25
$30.5M
$139.0K
Q1 25
$33.4M
$-802.0K
Q4 24
$31.5M
$-2.8M
Q3 24
$43.7M
$1.3M
Q2 24
$29.4M
$-4.3M
Q1 24
$28.0M
$-1.8M
Free Cash Flow
DMLP
DMLP
STRR
STRR
Q4 25
$-9.0M
Q3 25
$-3.4M
Q2 25
$102.0K
Q1 25
$-808.0K
Q4 24
$-2.8M
Q3 24
$1.3M
Q2 24
$-4.3M
Q1 24
$-1.8M
FCF Margin
DMLP
DMLP
STRR
STRR
Q4 25
-15.8%
Q3 25
-7.0%
Q2 25
0.3%
Q1 25
-2.5%
Q4 24
-8.3%
Q3 24
3.4%
Q2 24
-12.0%
Q1 24
-5.3%
Capex Intensity
DMLP
DMLP
STRR
STRR
Q4 25
3.0%
Q3 25
1.3%
Q2 25
0.1%
Q1 25
0.0%
Q4 24
0.1%
Q3 24
0.0%
Q2 24
0.0%
Q1 24
0.0%
Cash Conversion
DMLP
DMLP
STRR
STRR
Q4 25
2.12×
Q3 25
3.07×
Q2 25
2.47×
Q1 25
1.89×
Q4 24
2.21×
Q3 24
1.20×
Q2 24
1.25×
Q1 24
1.54×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DMLP
DMLP

Royalties$34.0M81%
Other$7.8M19%

STRR
STRR

Revenue From Other Contracts With Customers$27.6M49%
Other$24.3M43%
Energy Services Segment$4.9M9%

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