Dorchester Minerals, L.P. (DMLP) vs Kosmos Energy Ltd. (KOS)

Dorchester Minerals, L.P. and Kosmos Energy Ltd. are both Oil & Gas E&P companies. Kosmos Energy Ltd. is the larger, with a market value of $1.7B against $1.4B — 1.2× the size. Kosmos Energy Ltd. has negative trailing earnings, so its P/E is not meaningful; Dorchester Minerals, L.P. trades at 16.5×. Dorchester Minerals, L.P. grew revenue faster over the last twelve months: 13.9% against 7.13%. Dorchester Minerals, L.P. has the higher net margin (43.9% vs −34.0%) and the higher return on invested capital (23.6% vs 2.91%). Across the 21 metrics below, Dorchester Minerals, L.P. leads on 17 and Kosmos Energy Ltd. on 4.

Valuation

Metric DMLP KOS Oil & Gas E&P median
P/E 16.50 n/m 10.57
P/S 7.29 0.99 1.80
P/B 4.61 2.23 1.27
Price to free cash flow 8.93 14.14 9.99
EV/EBITDA 10.70 6.00 5.08
EV/Sales 6.91 2.58 2.39
Earnings yield 6.06% (44.91%) 6.06%
Free cash flow yield 11.20% 7.07% 6.17%

Profitability

Metric DMLP KOS Oil & Gas E&P median
Gross margin 100.00% 47.27% 80.41%
Operating margin 45.45% 9.48% 21.39%
Net margin 43.92% (33.98%) 14.17%
Free cash flow margin 81.52% 6.97% 9.71%
Return on equity 27.08% (62.95%) 10.05%
Return on assets 26.40% (11.39%) 5.81%
Return on invested capital 23.62% 2.91% 6.32%

Growth

Metric DMLP KOS Oil & Gas E&P median
Revenue growth (TTM) 13.91% 7.13% 9.94%
EPS growth (last fiscal year) (45.54%) (467.50%) —
Revenue growth, 5-year CAGR 26.64% 7.58% 18.67%
Net income growth, 5-year CAGR 21.16% 0.00% 0.00%

Health

Metric DMLP KOS Oil & Gas E&P median
Debt to equity 0.00 3.79 0.28
Current ratio 13.85 0.59 0.96
Net debt to EBITDA (0.34) 10.18 0.91

Dividend

Metric DMLP KOS Oil & Gas E&P median
Dividend yield 11.76% — 4.93%
Payout ratio — 0.00 0.07

Size

Metric DMLP KOS Oil & Gas E&P median
Market cap 1.44b 1.66b 923.59m

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