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Black Stone Minerals, L.P.(BSM)Earnings, Financials & Key Ratios
BSM•NYSE
$13.69
$2.91B mkt cap·10.7× P/E·Price updated May 6, 2026
AboutBlack Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.7 million gross acres located in 41 states in the United States. As of December 31, 2021, the company had a total estimated proved oil and natural gas reserves of 59,824 barrels of oil equivalent. Black Stone Minerals, L.P. was founded in 1876 and is based in Houston, Texas.Show more
- Revenue$422M-3.9%
- EBITDA$299M-6.0%
- Net Income$300M+10.5%
- EPS (Diluted)1.28+11.3%
- Gross Margin74.89%-1.8%
- EBITDA Margin70.81%-2.2%
- Operating Margin61.75%-0.6%
- Net Margin71.02%+15.0%
- ROE26.61%+15.1%
- ROIC16.1%-9.6%
- Debt/Equity0.14+518.3%
- Interest Coverage34.59-60.8%
BSM Key Insights
Black Stone Minerals, L.P. (BSM) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Excellent 3Y average ROE of 28.2%
- ✓Strong 5Y profit CAGR of 19.7%
- ✓FCF machine: 70.7% free cash flow margin
- ✓Healthy 5Y average net margin of 62.8%
✗Weaknesses
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BSM Price & Volume
Black Stone Minerals, L.P. (BSM) stock price & volume — 10-year historical chart
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BSM Growth Metrics
Black Stone Minerals, L.P. (BSM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years0.72%
5 Years7.32%
3 Years-18.64%
TTM6.93%
Profit CAGR
10 Years-
5 Years19.75%
3 Years-14.3%
TTM33.09%
EPS CAGR
10 Years-
5 Years21.17%
3 Years-15.48%
TTM37.71%
Return on Capital
10 Years19.36%
5 Years26.66%
3 Years25.83%
Last Year20.87%
BSM Recent Earnings
Black Stone Minerals, L.P. (BSM) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 2/12 qtrs (17%)
Q2 2026Latest
May 4, 2026EPS
$0.28
Est $0.22
+27.3%
Revenue
$59M
Est $107M
-44.7%
Q1 2026
Feb 23, 2026EPS
$0.31
Est $0.27
+14.8%
Revenue
$119M
Est $98M
+20.6%
Q4 2025
Nov 3, 2025EPS
$0.40
Est $0.28
+42.9%
Revenue
$78M
Est $98M
-20.6%
Q3 2025
Aug 4, 2025EPS
$0.53
Est $0.30
+76.7%
Revenue
$107M
Est $119M
-10.4%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 4, 2026 | $0.28vs $0.22+27.3% | $59Mvs $107M-44.7% |
| Q1 2026 | Feb 23, 2026 | $0.31vs $0.27+14.8% | $119Mvs $98M+20.6% |
| Q4 2025 | Nov 3, 2025 | $0.40vs $0.28+42.9% | $78Mvs $98M-20.6% |
| Q3 2025 | Aug 4, 2025 | $0.53vs $0.30+76.7% | $107Mvs $119M-10.4% |
Based on last 12 quarters of dataView full earnings history →
BSM Peer Comparison
Black Stone Minerals, L.P. (BSM) competitors in Mineral and royalty interest owners — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 VNOM | 18.74B | 49.96 | -104.08 | 56.56% | -2.88% | -0.46% | 0.21 | |
 TPL | 29.71B | 430.44 | 61.76 | 13.09% | 61.68% | 34.82% | 1.64% | 0.01 |
 DMLP | 1.3B | 26.94 | 22.45 | -5.38% | 37.53% | 18.79% | 10.19% | 0.00 |
 NRP | 1.56B | 117.93 | 11.75 | -17.42% | 67.28% | 22.53% | 10.61% | 0.05 |
 CTRA | 27.06B | 35.63 | 15.84 | -49.62% | 23.34% | 11.77% | 6.04% | 0.27 |
 EOG | 75.44B | 140.82 | 15.46 | -3.47% | 23.41% | 18.28% | 5.21% | 0.28 |
 DVN | 31.69B | 50.99 | 12.14 | 10.01% | 15.91% | 17.34% | 9.84% | 0.57 |
 COP | 150.31B | 123.32 | 19.42 | 7.51% | 12.56% | 11.29% | 11.16% | 0.36 |
Compare BSM vs Peers
Black Stone Minerals, L.P. (BSM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BSM Income Statement
Black Stone Minerals, L.P. (BSM) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 429.66M | 609.57M | 492.78M | 296.64M | 505.73M | 784.28M | 501.1M | 439.43M | 422.33M | 468.25M |
| Revenue Growth % | 64.73% | 41.87% | -19.16% | -39.8% | 70.49% | 55.08% | -36.11% | -12.31% | -3.89% | 6.93% |
| Cost of Goods Sold | 179.29M | 205.43M | 187.78M | 139.51M | 123.88M | 126.42M | 114.05M | 104.48M | 106.06M | 102.95M |
| COGS % of Revenue | 41.73% | 33.7% | 38.11% | 47.03% | 24.5% | 16.12% | 22.76% | 23.78% | 25.11% | - |
| Gross Profit | 250.37M▲ 0% | 404.14M▲ 61.4% | 304.99M▼ 24.5% | 157.13M▼ 48.5% | 381.85M▲ 143.0% | 657.87M▲ 72.3% | 387.05M▼ 41.2% | 334.95M▼ 13.5% | 316.27M▼ 5.6% | 365.3M▲ 0% |
| Gross Margin % | 58.27% | 66.3% | 61.89% | 52.97% | 75.5% | 83.88% | 77.24% | 76.22% | 74.89% | 78.01% |
| Gross Profit Growth % | 140.45% | 61.41% | -24.53% | -48.48% | 143.02% | 72.28% | -41.17% | -13.46% | -5.58% | - |
| Operating Expenses | 79.22M | 85.76M | 69.82M | 25.02M | 194.53M | 175.37M | -36.55M | 61.84M | 55.46M | 6.42M |
| OpEx % of Revenue | 18.44% | 14.07% | 14.17% | 8.43% | 38.46% | 22.36% | -7.29% | 14.07% | 13.13% | - |
| Selling, General & Admin | 77.57M | 76.71M | 63.35M | 42.98M | 48.75M | 53.65M | 51.45M | 52.08M | 55.46M | 57.12M |
| SG&A % of Revenue | 18.05% | 12.58% | 12.86% | 14.49% | 9.64% | 6.84% | 10.27% | 11.85% | 13.13% | - |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 714K | -2.25M | 6.47M | -17.96M | 145.78M | 121.72M | -88M | 9.76M | 0 | -1000K |
| Operating Income | 172.08M▲ 0% | 318.38M▲ 85.0% | 235.17M▼ 26.1% | 132.11M▼ 43.8% | 187.32M▲ 41.8% | 482.5M▲ 157.6% | 423.6M▼ 12.2% | 273.11M▼ 35.5% | 260.81M▼ 4.5% | 358.88M▲ 0% |
| Operating Margin % | 40.05% | 52.23% | 47.72% | 44.54% | 37.04% | 61.52% | 84.53% | 62.15% | 61.75% | 76.64% |
| Operating Income Growth % | 526.47% | 85.01% | -26.14% | -43.82% | 41.8% | 157.57% | -12.21% | -35.53% | -4.5% | - |
| EBITDA | 287.64M | 442.14M | 344.76M | 215.26M | 248.34M | 530.3M | 469.28M | 318.3M | 299.07M | 397.51M |
| EBITDA Margin % | 66.95% | 72.53% | 69.96% | 72.57% | 49.11% | 67.62% | 93.65% | 72.44% | 70.81% | 84.89% |
| EBITDA Growth % | 119.83% | 53.71% | -22.03% | -37.56% | 15.37% | 113.54% | -11.51% | -32.17% | -6.04% | 47.42% |
| D&A (Non-Cash Add-back) | 115.56M | 123.76M | 109.58M | 83.15M | 61.02M | 47.8M | 45.68M | 45.2M | 38.26M | 38.64M |
| EBIT | 172.85M | 316.32M | 235.8M | 132.23M | 187.63M | 482.77M | 425.3M | 274.44M | 308.86M | 437.25M |
| Net Interest Income | -15.64M | -20.57M | -21.28M | -10.37M | -5.64M | -6.23M | -887K | -1.44M | -8.69M | -10.69M |
| Interest Income | 49K | 183K | 159K | 35K | 1K | 53K | 1.87M | 1.67M | 237K | 205K |
| Interest Expense | 15.69M | 20.76M | 21.43M | 10.41M | 5.64M | 6.29M | 2.75M | 3.11M | 8.93M | 10.89M |
| Other Income/Expense | -14.93M | -22.82M | -20.8M | -10.29M | -5.34M | -6.02M | -1.05M | -1.78M | 39.13M | -61.62M |
| Pretax Income | 157.15M▲ 0% | 295.56M▲ 88.1% | 214.37M▼ 27.5% | 121.82M▼ 43.2% | 181.99M▲ 49.4% | 476.48M▲ 161.8% | 422.55M▼ 11.3% | 271.33M▼ 35.8% | 299.93M▲ 10.5% | 297.26M▲ 0% |
| Pretax Margin % | 36.58% | 48.49% | 43.5% | 41.07% | 35.98% | 60.75% | 84.32% | 61.75% | 71.02% | 63.48% |
| Income Tax | 0 | -2.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | -0.7% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 157.19M▲ 0% | 295.54M▲ 88.0% | 214.37M▼ 27.5% | 121.82M▼ 43.2% | 181.99M▲ 49.4% | 476.48M▲ 161.8% | 422.55M▼ 11.3% | 271.33M▼ 35.8% | 299.93M▲ 10.5% | 297.26M▲ 0% |
| Net Margin % | 36.58% | 48.48% | 43.5% | 41.07% | 35.98% | 60.75% | 84.32% | 61.75% | 71.02% | 63.48% |
| Net Income Growth % | 678.15% | 88.02% | -27.46% | -43.17% | 49.39% | 161.82% | -11.32% | -35.79% | 10.54% | 33.09% |
| Net Income (Continuing) | 157.15M | 295.56M | 214.37M | 121.82M | 181.99M | 476.48M | 422.55M | 271.33M | 299.93M | 297.26M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 867K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.01▲ 0% | 1.36▲ 34.7% | 1.01▼ 25.7% | 0.49▼ 51.5% | 0.77▲ 57.1% | 2.12▲ 175.3% | 1.88▼ 11.3% | 1.15▼ 38.8% | 1.28▲ 11.3% | 1.40▲ 0% |
| EPS Growth % | 288.46% | 34.65% | -25.74% | -51.49% | 57.14% | 175.32% | -11.32% | -38.83% | 11.3% | 37.71% |
| EPS (Basic) | 1.01 | 1.36 | 1.01 | 0.49 | 0.77 | 2.18 | 1.91 | 1.15 | 1.28 | - |
| Diluted Shares Outstanding | 192.55M | 217.61M | 206.12M | 206.82M | 208.29M | 224.45M | 225.1M | 210.78M | 211.73M | 212.37M |
| Basic Shares Outstanding | 192.55M | 217.61M | 205.97M | 206.71M | 208.18M | 209.38M | 209.97M | 210.68M | 211.67M | 212.37M |
| Dividend Payout Ratio | 123.93% | 84.63% | 143.41% | 115.21% | 97.22% | 67.66% | 94.39% | 124.18% | 95.24% | - |
BSM Balance Sheet
Black Stone Minerals, L.P. (BSM) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 87.64M | 157.53M | 102.29M | 66.52M | 107.97M | 173.38M | 193.13M | 78.54M | 95.64M | 95.69M |
| Cash & Short-Term Investments | 5.64M | 5.41M | 8.12M | 1.8M | 8.88M | 4.31M | 70.28M | 2.52M | 1.48M | 11.61M |
| Cash Only | 5.64M | 5.41M | 8.12M | 1.8M | 8.88M | 4.31M | 70.28M | 2.52M | 1.48M | 11.61M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 80.69M | 113.15M | 78.21M | 61.91M | 97.14M | 135.7M | 82.25M | 71.09M | 65.57M | 0 |
| Days Sales Outstanding | 68.55 | 67.75 | 57.93 | 76.17 | 70.11 | 63.15 | 59.91 | 59.05 | 56.67 | 40.92 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 31.47M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | 90.87 | - | - | - | - |
| Other Current Assets | 94K | 37.97M | 14.79M | 1.15M | 0 | 1.91M | 40.59M | 4.93M | 28.59M | 84.08M |
| Total Non-Current Assets | 1.49B | 1.59B | 1.44B | 1.18B | 1.14B | 1.1B | 1.07B | 1.14B | 1.24B | 1.24B |
| Property, Plant & Equipment | 1.48B | 1.58B | 1.43B | 1.17B | 1.13B | 1.09B | 1.07B | 1.13B | 1.13M | 993K |
| Fixed Asset Turnover | 0.29x | 0.39x | 0.34x | 0.25x | 0.45x | 0.72x | 0.47x | 0.39x | 375.07x | 0.80x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 363K | 10.07M | 608K | 0 | 0 | 728K | 372K | 0 | 4.13M | 5.09M |
| Other Non-Current Assets | 7.12M | 6.64M | 8.08M | 5.32M | 6.61M | 8.73M | 7.88M | 6.32M | 1.23B | 2.49B |
| Total Assets | 1.58B▲ 0% | 1.75B▲ 11.0% | 1.55B▼ 11.7% | 1.24B▼ 19.5% | 1.25B▲ 0.3% | 1.27B▲ 1.9% | 1.27B▼ 0.3% | 1.22B▼ 3.8% | 1.34B▲ 9.6% | 1.34B▲ 0% |
| Asset Turnover | 0.27x | 0.35x | 0.32x | 0.24x | 0.41x | 0.62x | 0.40x | 0.36x | 0.32x | 0.36x |
| Asset Growth % | 39.65% | 11.02% | -11.71% | -19.49% | 0.32% | 1.86% | -0.33% | -3.79% | 9.57% | 26.54% |
| Total Current Liabilities | 59.73M | 64.77M | 29.8M | 39.95M | 77.14M | 30.73M | 25.84M | 30.42M | 24.62M | 40.98M |
| Accounts Payable | 2.46M | 4.15M | 5.31M | 3.41M | 5.94M | 6.77M | 6.27M | 5.95M | 2.82M | 2.76M |
| Days Payables Outstanding | 5.02 | 7.37 | 10.32 | 8.91 | 17.51 | 19.56 | 20.07 | 20.77 | 9.72 | 13.37 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 33.35M | 33.47M | 3.81M | 20.97M | 54.46M | 4.39M | 5.15M | 16.12M | 21.8M | 40.98M |
| Current Ratio | 1.47x | 2.43x | 3.43x | 1.67x | 1.40x | 5.64x | 7.48x | 2.58x | 3.88x | 3.88x |
| Quick Ratio | 1.47x | 2.43x | 3.43x | 1.67x | 1.40x | 4.62x | 7.48x | 2.58x | 3.88x | 3.88x |
| Cash Conversion Cycle | - | - | - | - | - | 134.47 | - | - | - | 27.54 |
| Total Non-Current Liabilities | 426.17M | 482.73M | 418.6M | 145.06M | 107.15M | 30.54M | 23.7M | 59.04M | 182.47M | 223.75M |
| Long-Term Debt | 388M | 410M | 394M | 121M | 89M | 10M | 0 | 25M | 154M | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 38.17M | 72.73M | 24.6M | 24.06M | 18.15M | 20.54M | 23.7M | 34.04M | 28.48M | 320.19M |
| Total Liabilities | 485.91M | 547.5M | 448.4M | 185.01M | 184.29M | 61.27M | 49.54M | 89.47M | 207.1M | 264.73M |
| Total Debt | 388M | 410M | 394M | 121M | 89M | 10M | 0 | 25M | 154M | 0 |
| Net Debt | 382.36M | 404.59M | 385.88M | 119.2M | 80.12M | 5.69M | -70.28M | 22.48M | 152.52M | -11.61M |
| Debt / Equity | 0.36x | 0.34x | 0.36x | 0.11x | 0.08x | 0.01x | - | 0.02x | 0.14x | 0.14x |
| Debt / EBITDA | 1.35x | 0.93x | 1.14x | 0.56x | 0.36x | 0.02x | - | 0.08x | 0.51x | 0.00x |
| Net Debt / EBITDA | 1.33x | 0.92x | 1.12x | 0.55x | 0.32x | 0.01x | -0.15x | 0.07x | 0.51x | 0.51x |
| Interest Coverage | 11.01x | 15.24x | 11.00x | 12.70x | 33.28x | 76.80x | 154.43x | 88.27x | 34.59x | 40.14x |
| Total Equity | 1.09B▲ 0% | 1.2B▲ 10.3% | 1.1B▼ 8.8% | 1.06B▼ 3.4% | 1.06B▲ 0.4% | 1.21B▲ 13.7% | 1.22B▲ 0.6% | 1.13B▼ 7.2% | 1.13B▼ 0.4% | 773.2M▲ 0% |
| Equity Growth % | 50.28% | 10.28% | -8.8% | -3.45% | 0.44% | 13.74% | 0.62% | -7.22% | -0.37% | -36.44% |
| Book Value per Share | 5.66 | 5.53 | 5.32 | 5.12 | 5.11 | 5.39 | 5.41 | 5.36 | 5.31 | 3.64 |
| Total Shareholders' Equity | 1.09B | 1.2B | 1.1B | 1.06B | 1.06B | 1.21B | 1.22B | 1.13B | 1.13B | 773.2M |
| Common Stock | 603.12M | 714.82M | 798.44M | 760.61M | 765.27M | 911.45M | 918.21M | 828.96M | 827.98M | 0 |
| Retained Earnings | -768.12M | -904.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 164.14M | 189.44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 867K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BSM Cash Flow Statement
Black Stone Minerals, L.P. (BSM) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 281.85M | 385.38M | 412.72M | 281.81M | 256.88M | 424.98M | 521.25M | 389.04M | 310.17M | 310.17M |
| Operating CF Margin % | 65.6% | 63.22% | 83.75% | 95% | 50.79% | 54.19% | 104.02% | 88.53% | 73.44% | - |
| Operating CF Growth % | 43.32% | 36.73% | 7.09% | -31.72% | -8.85% | 65.44% | 22.65% | -25.36% | -20.27% | -44.78% |
| Net Income | 157.15M | 295.56M | 214.37M | 121.82M | 181.99M | 476.48M | 422.55M | 271.33M | 299.93M | 297.26M |
| Depreciation & Amortization | 114.53M | 122.65M | 109.58M | 82.02M | 61.02M | 47.8M | 0 | 46.49M | 36.89M | 19.63M |
| Stock-Based Compensation | 33.04M | 30.13M | 20.48M | 3.73M | 12.22M | 17.39M | 10.83M | 8.56M | 9.62M | 10.12M |
| Deferred Taxes | -27.83M | -14.83M | 0 | -82.02M | -61.02M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 16.89M | -28.29M | 34.6M | 146.2M | 95.17M | -80.24M | 39.06M | 51.16M | -34.14M | -33.05M |
| Working Capital Changes | -11.93M | -19.85M | 33.69M | 10.06M | -32.49M | -36.45M | 48.81M | 11.5M | -2.13M | 14.28M |
| Change in Receivables | -6.08M | -31.53M | 35.04M | 16.49M | -34.86M | -39.51M | 53.05M | 11.24M | 5.54M | 2.63M |
| Change in Inventory | -177K | 339K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -3.58M | 11.47M | -1.19M | -5.93M | 2.65M | 3.01M | -3.83M | 1.04M | -286K | -5.09M |
| Cash from Investing | -454.25M | -163.8M | -48.62M | 151.25M | -14.32M | -1.22M | -19.74M | -112.24M | -118.27M | -117.2M |
| Capital Expenditures | -484.52M | -297.33M | -111.3M | -4.82M | -14.63M | -12.56M | -19.81M | -4.21M | -11.76M | -30.18M |
| CapEx % of Revenue | 112.77% | 48.78% | 22.59% | 1.62% | 2.89% | 1.6% | 3.95% | 0.96% | 2.78% | - |
| Acquisitions | 30.27M | 131.82M | 0 | 156.06M | 318K | 11.35M | 0 | 0 | -117.98M | -75.44M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 30.27M | 133.53M | 62.68M | 0 | 0 | 0 | 73K | -108.02M | 11.46M | -11.62M |
| Cash from Financing | 168.27M | -221.8M | -361.39M | -439.38M | -235.48M | -428.34M | -435.54M | -344.57M | -192.93M | -181.51M |
| Debt Issued (Net) | 72M | 22M | -16M | -273M | -32M | -79M | -10M | 25M | 129M | 91M |
| Equity Issued (Net) | 571.8M | 27.84M | -16.97M | -5.04M | -1.96M | -2.99M | -5.5M | -4.45M | -3.78M | -488K |
| Dividends Paid | -198.58M | -268.49M | -328.42M | -161.34M | -197.92M | -343.4M | -419.82M | -365.06M | -315.12M | -228.58M |
| Share Repurchases | -27.89M | -12.69M | -16.97M | -5.04M | -1.96M | -2.99M | -5.5M | -4.45M | -3.78M | -488K |
| Other Financing | -276.96M | -3.16M | 0 | 0 | -3.6M | -2.94M | -216K | -64K | -3.04M | -43.44M |
| Net Change in Cash | -4.13M▲ 0% | -228K▲ 94.5% | 2.71M▲ 1286.4% | -6.32M▼ 333.8% | 7.08M▲ 212.0% | -4.57M▼ 164.5% | 65.97M▲ 1544.0% | -67.76M▼ 202.7% | -1.04M▲ 98.5% | 9.19M▲ 0% |
| Free Cash Flow | -202.67M▲ 0% | 88.04M▲ 143.4% | 301.42M▲ 242.4% | 276.99M▼ 8.1% | 242.25M▼ 12.5% | 412.42M▲ 70.2% | 501.44M▲ 21.6% | 384.83M▼ 23.3% | 298.41M▼ 22.5% | 223.01M▲ 0% |
| FCF Margin % | -47.17% | 14.44% | 61.17% | 93.38% | 47.9% | 52.59% | 100.07% | 87.58% | 70.66% | 47.63% |
| FCF Growth % | -707.97% | 143.44% | 242.35% | -8.1% | -12.54% | 70.25% | 21.58% | -23.25% | -22.46% | -18.21% |
| FCF per Share | -1.05 | 0.40 | 1.46 | 1.34 | 1.16 | 1.84 | 2.23 | 1.83 | 1.41 | 1.41 |
| FCF Conversion (FCF/Net Income) | 1.79x | 1.30x | 1.93x | 2.31x | 1.41x | 0.89x | 1.23x | 1.43x | 1.03x | 0.75x |
| Interest Paid | 0 | 0 | 20.47M | 0 | 0 | 0 | 0 | 0 | 0 | 1.9M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BSM Key Ratios
Black Stone Minerals, L.P. (BSM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 17.31% | 25.78% | 18.65% | 11.3% | 17.15% | 41.92% | 34.82% | 23.12% | 26.61% | 28.82% |
| Return on Invested Capital (ROIC) | 10.31% | 15.5% | 11.42% | 7.45% | 12.1% | 30.68% | 26.89% | 17.82% | 16.1% | 16.1% |
| Gross Margin | 58.27% | 66.3% | 61.89% | 52.97% | 75.5% | 83.88% | 77.24% | 76.22% | 74.89% | 78.01% |
| Net Margin | 36.58% | 48.48% | 43.5% | 41.07% | 35.98% | 60.75% | 84.32% | 61.75% | 71.02% | 63.48% |
| Debt / Equity | 0.36x | 0.34x | 0.36x | 0.11x | 0.08x | 0.01x | - | 0.02x | 0.14x | 0.14x |
| Interest Coverage | 11.01x | 15.24x | 11.00x | 12.70x | 33.28x | 76.80x | 154.43x | 88.27x | 34.59x | 40.14x |
| FCF Conversion | 1.79x | 1.30x | 1.93x | 2.31x | 1.41x | 0.89x | 1.23x | 1.43x | 1.03x | 0.75x |
| Revenue Growth | 64.73% | 41.87% | -19.16% | -39.8% | 70.49% | 55.08% | -36.11% | -12.31% | -3.89% | 6.93% |
BSM SEC Filings & Documents
Black Stone Minerals, L.P. (BSM) SEC filings — annual & quarterly reports (10-K, 10-Q)
BSM Frequently Asked Questions
Black Stone Minerals, L.P. (BSM) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Black Stone Minerals, L.P. (BSM) reported $468.2M in revenue for fiscal year 2025. This represents a 27% increase from $369.0M in 2012.
Black Stone Minerals, L.P. (BSM) saw revenue decline by 3.9% over the past year.
Yes, Black Stone Minerals, L.P. (BSM) is profitable, generating $297.3M in net income for fiscal year 2025 (71.0% net margin).
Dividend & Returns
Yes, Black Stone Minerals, L.P. (BSM) pays a dividend with a yield of 9.86%. This makes it attractive for income-focused investors.
Black Stone Minerals, L.P. (BSM) has a return on equity (ROE) of 26.6%. This is excellent, indicating efficient use of shareholder capital.
Black Stone Minerals, L.P. (BSM) generated $223.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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