FLNG vs. DMLP

Last updated Jun 4, 2026

FLNG (FLEX LNG Ltd) and DMLP (Dorchester Minerals, L.P.) are both stocks. Both are in the Energy sector — FLNG in Oil & Gas Midstream, DMLP in Oil & Gas E&P. Over the past 5 years, FLNG returned 28.91%/yr vs 25.76%/yr for DMLP. At a 0.27 correlation, their price movements are largely independent.

Performance

FLNG vs. DMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FLEX LNG Ltd (FLNG) and Dorchester Minerals, L.P. (DMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLNG achieves a 25.52% return, which is significantly lower than DMLP's 32.00% return.

FLNG

• 1D: -2.01%
• 1M: -6.12%
• YTD: 25.52%
• 6M: 20.73%
• 1Y: 39.28%
• 3Y*: 10.45%
• 5Y*: 28.91%
• 10Y*: —

DMLP

• 1D: 0.32%
• 1M: 3.38%
• YTD: 32.00%
• 6M: 33.07%
• 1Y: 11.32%
• 3Y*: 8.76%
• 5Y*: 25.76%
• 10Y*: 19.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FLNG vs. DMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FLNG FLEX LNG Ltd	25.52%	22.47%	-11.61%	-1.19%	56.32%	202.13%	-17.14%	-1.73%
DMLP Dorchester Minerals, L.P.	32.00%	-25.92%	16.59%	18.99%	71.68%	98.93%	-37.39%	13.02%

Correlation

The correlation between FLNG and DMLP is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019	0.27

The correlation between FLNG and DMLP shifts across timeframes, from 0.10 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap FLNG : $1.61B DMLP : $1.36B
EPS FLNG : $1.40 DMLP : $1.44
PE Ratio FLNG : 21.27 DMLP : 19.52
PS Ratio FLNG : 4.73 DMLP : 7.97
PB Ratio FLNG : 2.30 DMLP : 4.58
Total Revenue (TTM) FLNG : $339.66M DMLP : $168.54M
Gross Profit (TTM) FLNG : $170.74M DMLP : $65.71M
EBITDA (TTM) FLNG : $238.18M DMLP : $110.16M

Return for Risk

FLNG vs. DMLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLNG

FLNG Risk / Return Rank: 81
FLNG Sharpe Ratio Rank: 82
FLNG Sortino Ratio Rank: 78
FLNG Omega Ratio Rank: 76
FLNG Calmar Ratio Rank: 85
FLNG Martin Ratio Rank: 86

DMLP

DMLP Risk / Return Rank: 52
DMLP Sharpe Ratio Rank: 58
DMLP Sortino Ratio Rank: 49
DMLP Omega Ratio Rank: 48
DMLP Calmar Ratio Rank: 53
DMLP Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FLNG vs. DMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FLEX LNG Ltd (FLNG) and Dorchester Minerals, L.P. (DMLP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FLNG	DMLP	Difference
Sharpe ratio Return per unit of total volatility	1.54	0.50	+1.04
Sortino ratio Return per unit of downside risk	2.22	0.85	+1.37
Omega ratio Gain probability vs. loss probability	1.27	1.10	+0.17
Calmar ratio Return relative to maximum drawdown	3.57	0.54	+3.03
Martin ratio Return relative to average drawdown	9.32	1.25	+8.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLNG vs. DMLP - Sharpe Ratio Comparison

The current FLNG Sharpe Ratio is 1.54, which is higher than the DMLP Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of FLNG and DMLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FLNG	DMLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	0.50	+1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.86	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.38	+0.19

Drawdowns

FLNG vs. DMLP - Drawdown Comparison

The maximum FLNG drawdown since its inception was -71.92%, roughly equal to the maximum DMLP drawdown of -72.35%. Use the drawdown chart below to compare losses from any high point for FLNG and DMLP.

Drawdown Indicators

	FLNG	DMLP	Difference
Max Drawdown Largest peak-to-trough decline	-71.92%	-72.35%	+0.43%
Max Drawdown (1Y) Largest decline over 1 year	-11.05%	-21.00%	+9.95%
Max Drawdown (3Y) Largest decline over 3 years	-25.37%	-32.31%	+6.94%
Max Drawdown (5Y) Largest decline over 5 years	-31.05%	-32.31%	+1.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.80%	—
Current Drawdown Current decline from peak	-8.44%	-6.03%	-2.41%
Average Drawdown Average peak-to-trough decline	-18.83%	-19.83%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	9.09%	-4.86%

Volatility

FLNG vs. DMLP - Volatility Comparison

The current volatility for FLEX LNG Ltd (FLNG) is 7.76%, while Dorchester Minerals, L.P. (DMLP) has a volatility of 9.07%. This indicates that FLNG experiences smaller price fluctuations and is considered to be less risky than DMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLNG	DMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.76%	9.07%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	18.45%	17.36%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	25.58%	22.91%	+2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.21%	30.03%	+9.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.39%	31.79%	+15.60%

Dividends

FLNG vs. DMLP - Dividend Comparison

FLNG's dividend yield for the trailing twelve months is around 12.62%, more than DMLP's 9.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DMLP Dorchester Minerals, L.P.	9.03%	12.41%	10.46%	10.67%	11.68%	7.75%	12.75%	10.32%	11.87%	7.60%	4.88%	11.67%
FLNG FLEX LNG Ltd	12.62%	12.02%	13.08%	11.61%	10.71%	7.88%	2.29%	0.92%	0.00%	0.00%	0.00%	0.00%

Financials

FLNG vs. DMLP - Profitability Comparison

The chart below illustrates the profitability comparison between FLEX LNG Ltd and Dorchester Minerals, L.P. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FLNG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, FLEX LNG Ltd reported a gross profit of 36.75M and revenue of 80.46M. Therefore, the gross margin over that period was 45.7%.

DMLP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Dorchester Minerals, L.P. reported a gross profit of 0.00 and revenue of 58.88M. Therefore, the gross margin over that period was 0.0%.

FLNG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, FLEX LNG Ltd reported an operating income of 34.20M and revenue of 80.46M, resulting in an operating margin of 42.5%.

DMLP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Dorchester Minerals, L.P. reported an operating income of 0.00 and revenue of 58.88M, resulting in an operating margin of 0.0%.

FLNG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, FLEX LNG Ltd reported a net income of 19.51M and revenue of 80.46M, resulting in a net margin of 24.3%.

DMLP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Dorchester Minerals, L.P. reported a net income of 29.14M and revenue of 58.88M, resulting in a net margin of 49.5%.

Frequently Asked Questions

Can I hold both FLNG and DMLP in my portfolio?

FLNG and DMLP have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLNG or DMLP?

DMLP has higher volatility (9.07%) compared to FLNG (7.76%). In terms of maximum drawdown, FLNG dropped -71.92% vs DMLP's -72.35%.

Which has better risk-adjusted returns?

FLNG currently has the higher Sharpe Ratio (1.54 vs 0.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.