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DORCHESTER MINERALS, L.P.（DMLP）与Planet Labs PBC（PL）财务数据对比。点击上方公司名可切换其他公司
Planet Labs PBC的季度营收约是DORCHESTER MINERALS, L.P.的1.9倍（$81.3M vs $41.9M），DORCHESTER MINERALS, L.P.净利率更高（38.7% vs -72.8%，领先111.5%），Planet Labs PBC同比增速更快（32.6% vs 5.4%），过去两年Planet Labs PBC的营收复合增速更高（17.5% vs 16.2%）
多切斯特矿业有限合伙是一家总部位于美国的上市有限合伙企业，主要收购、持有及管理油气相关的特许权权益、净利润权益、矿产产权等多元化资产组合，资产覆盖美国多个核心陆上油气产区，为合伙份额持有人提供稳定的现金流回报。
Planet Labs PBC（常简称为Planet）是总部位于美国加利福尼亚州旧金山的上市地球影像企业，核心目标是实现全球范围的每日成像，以此监测地表变化、精准识别相关趋势，为多行业的地理数据分析需求提供可靠的数据支持。
DMLP vs PL — 直观对比
营收规模更大
PL
是对方的1.9倍
$41.9M
营收增速更快
PL
高出27.2%
5.4%
净利率更高
DMLP
高出111.5%
-72.8%
两年增速更快
PL
近两年复合增速
16.2%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $41.9M | $81.3M |
| 净利润 | $16.2M | $-59.2M |
| 毛利率 | — | 57.3% |
| 营业利润率 | — | -22.6% |
| 净利率 | 38.7% | -72.8% |
| 营收同比 | 5.4% | 32.6% |
| 净利润同比 | 13.7% | -194.7% |
| 每股收益（稀释后） | — | $-0.19 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收DMLPPL
| Q4 25 | $41.9M | $81.3M | ||
| Q3 25 | $35.4M | $73.4M | ||
| Q2 25 | $32.4M | $66.3M | ||
| Q1 25 | $43.2M | $61.6M | ||
| Q4 24 | $39.7M | $61.3M | ||
| Q3 24 | $53.5M | $61.1M | ||
| Q2 24 | $37.4M | $60.4M | ||
| Q1 24 | $31.0M | $58.9M |
净利润DMLPPL
| Q4 25 | $16.2M | $-59.2M | ||
| Q3 25 | $11.2M | $-22.6M | ||
| Q2 25 | $12.3M | $-12.6M | ||
| Q1 25 | $17.6M | $-35.2M | ||
| Q4 24 | $14.2M | $-20.1M | ||
| Q3 24 | $36.4M | $-38.7M | ||
| Q2 24 | $23.6M | $-29.3M | ||
| Q1 24 | $18.2M | $-30.1M |
毛利率DMLPPL
| Q4 25 | — | 57.3% | ||
| Q3 25 | — | 57.6% | ||
| Q2 25 | — | 55.2% | ||
| Q1 25 | — | 62.1% | ||
| Q4 24 | — | 61.2% | ||
| Q3 24 | — | 52.9% | ||
| Q2 24 | — | 52.4% | ||
| Q1 24 | — | 55.2% |
营业利润率DMLPPL
| Q4 25 | — | -22.6% | ||
| Q3 25 | — | -24.5% | ||
| Q2 25 | — | -34.4% | ||
| Q1 25 | — | -31.5% | ||
| Q4 24 | — | -36.9% | ||
| Q3 24 | — | -64.8% | ||
| Q2 24 | — | -57.2% | ||
| Q1 24 | — | -57.6% |
净利率DMLPPL
| Q4 25 | 38.7% | -72.8% | ||
| Q3 25 | 31.5% | -30.8% | ||
| Q2 25 | 38.1% | -19.1% | ||
| Q1 25 | 40.9% | -57.1% | ||
| Q4 24 | 35.9% | -32.8% | ||
| Q3 24 | 68.1% | -63.3% | ||
| Q2 24 | 63.2% | -48.5% | ||
| Q1 24 | 58.6% | -51.1% |
每股收益（稀释后）DMLPPL
| Q4 25 | — | $-0.19 | ||
| Q3 25 | — | $-0.07 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.12 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | — | $-0.13 | ||
| Q2 24 | — | $-0.10 | ||
| Q1 24 | — | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $41.9M | $443.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $349.6M |
| 总资产 | $309.6M | $1.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资DMLPPL
| Q4 25 | $41.9M | $443.3M | ||
| Q3 25 | $41.6M | $181.1M | ||
| Q2 25 | $36.5M | $133.5M | ||
| Q1 25 | $41.5M | $118.0M | ||
| Q4 24 | $42.5M | $139.0M | ||
| Q3 24 | $56.5M | $148.3M | ||
| Q2 24 | $35.2M | $107.4M | ||
| Q1 24 | $37.7M | $83.9M |
股东权益DMLPPL
| Q4 25 | — | $349.6M | ||
| Q3 25 | — | $435.7M | ||
| Q2 25 | — | $444.8M | ||
| Q1 25 | — | $441.3M | ||
| Q4 24 | — | $464.6M | ||
| Q3 24 | — | $473.2M | ||
| Q2 24 | — | $500.3M | ||
| Q1 24 | — | $518.0M |
总资产DMLPPL
| Q4 25 | $309.6M | $1.1B | ||
| Q3 25 | $330.4M | $696.4M | ||
| Q2 25 | $325.6M | $658.4M | ||
| Q1 25 | $349.0M | $633.8M | ||
| Q4 24 | $366.8M | $630.8M | ||
| Q3 24 | $403.4M | $658.4M | ||
| Q2 24 | $176.0M | $674.6M | ||
| Q1 24 | $184.8M | $702.0M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $34.3M | $28.6M |
| 自由现金流经营现金流 - 资本支出 | — | $1.9M |
| 自由现金流率自由现金流/营收 | — | 2.3% |
| 资本支出强度资本支出/营收 | — | 32.9% |
| 现金转化率经营现金流/净利润 | 2.12× | — |
| 过去12个月自由现金流最近4个季度 | — | $40.7M |
8季度趋势，按日历期对齐
经营现金流DMLPPL
| Q4 25 | $34.3M | $28.6M | ||
| Q3 25 | $34.3M | $67.8M | ||
| Q2 25 | $30.5M | $17.3M | ||
| Q1 25 | $33.4M | $-6.3M | ||
| Q4 24 | $31.5M | $4.1M | ||
| Q3 24 | $43.7M | $-7.9M | ||
| Q2 24 | $29.4M | $-4.3M | ||
| Q1 24 | $28.0M | $-6.8M |
自由现金流DMLPPL
| Q4 25 | — | $1.9M | ||
| Q3 25 | — | $47.5M | ||
| Q2 25 | — | $9.2M | ||
| Q1 25 | — | $-17.9M | ||
| Q4 24 | — | $-3.6M | ||
| Q3 24 | — | $-23.0M | ||
| Q2 24 | — | $-14.2M | ||
| Q1 24 | — | $-15.7M |
自由现金流率DMLPPL
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 64.7% | ||
| Q2 25 | — | 13.9% | ||
| Q1 25 | — | -29.1% | ||
| Q4 24 | — | -5.8% | ||
| Q3 24 | — | -37.6% | ||
| Q2 24 | — | -23.6% | ||
| Q1 24 | — | -26.7% |
资本支出强度DMLPPL
| Q4 25 | — | 32.9% | ||
| Q3 25 | — | 27.6% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 18.9% | ||
| Q4 24 | — | 12.5% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 16.4% | ||
| Q1 24 | — | 15.1% |
现金转化率DMLPPL
| 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× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
DMLP
| Royalties | $34.0M | 81% |
| Other | $7.8M | 19% |
PL
| Defense And Intelligence | $49.4M | 61% |
| Civil Government | $18.8M | 23% |
| Commercial | $13.1M | 16% |
