Black Stone Minerals, L.P. (BSM) quarterly cash flow statement — complete operating, investing & financing history
Black Stone Minerals, L.P. (BSM) cash flow statement — 14-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 92.97M | 62.56M | 65.1M | 99.76M | 80.48M | 64.83M | 90.96M | 93.24M | 100.39M | 104.46M | 134.12M | 116.71M | 133.27M | 137.16M | 156.43M | 108.41M | 77.56M | 82.58M | 73.45M | 57.85M |
| Operating CF Margin % | 76.13% | 33.2% | 68.4% | 128.06% | 75.42% | 56.25% | 87.21% | 90.37% | 87.16% | 89.45% | 98.34% | 85.36% | 126.09% | 112.14% | 78.62% | 49.02% | 37.34% | 52.78% | 45.63% | 42.1% |
| Operating CF Growth % | 15.52% | -3.51% | -28.43% | 6.99% | -19.83% | -37.93% | -32.18% | -20.11% | -24.68% | -23.84% | -14.27% | 7.66% | 71.82% | 66.1% | 112.97% | 87.41% | 10.97% | 48.29% | 21.62% | -8.82% |
| Net Income | 106.36M | 13.27M | 72.23M | 91.73M | 120.03M | 15.95M | 46.35M | 92.73M | 68.32M | 63.93M | 147.65M | 62.07M | 78.39M | 134.44M | 183.22M | 168.47M | 131.79M | -7M | 134.19M | 16.18M |
| Depreciation & Amortization | 9.4M | 9.79M | -9.59M | 10.24M | 9.19M | 9.13M | 10.94M | 11.26M | 11.68M | 12.22M | 11.75M | 12.37M | 10.42M | 0 | 12.79M | 12.21M | 11.89M | 10.92M | 14.67M | 14.93M |
| Stock-Based Compensation | 2.48M | 3.55M | 2.4M | 2.21M | 1.96M | 3.06M | 1.8M | 2.18M | 2.21M | 2.38M | 2.42M | 3.78M | 2.52M | 2.12M | 5.58M | 4.53M | 2.72M | 4.55M | 2.51M | 3.17M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -34.86M | 52.85M | -105K | -19.81M | -49.08M | 52.95M | 29.71M | -20.51M | 17.63M | 25.09M | -36.87M | 51.54M | 17.33M | -27.48M | -70.92M | -63.64M | -34.94M | 89.26M | -74.87M | 41.16M |
| Working Capital Changes | 9.59M | -16.9M | 171K | 15.73M | -1.61M | -16.25M | 2.16M | 7.58M | 547K | 839K | 9.18M | -13.04M | 24.61M | 28.07M | 25.77M | -13.17M | -33.9M | -15.15M | -3.05M | -17.59M |
| Change in Receivables | 4.26M | -9.78M | -1.19M | 15.69M | -2.09M | -6.86M | -2.96M | 5.72M | -1.37M | 9.85M | 4.91M | -15.33M | 21.89M | 41.59M | 20.83M | -17.15M | -40.93M | -2.26M | -8.79M | -19.91M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 4.96M | -9.95M | 5.57M | -2.56M | 1.85M | -5.14M | 6.2M | 829K | 2.52M | -8.51M | 0 | 1.65M | 3.25M | -13.33M | 4.6M | 3.77M | 7.62M | -12.97M | 6.2M | 1.7M |
| Cash from Investing | -40.79M | -11.99M | -54.88M | -20.7M | -29.62M | -13.07M | -48.01M | -12.55M | -27.72M | -23.96M | -14.79M | -2.31M | -679K | -1.95M | -538K | -532K | -49K | -96K | -426K | -1.14M |
| Capital Expenditures | -6.84M | -150K | -136K | -11K | -29.62M | -13.47M | -48.01M | -15.26M | -16K | -24.04M | -14.79M | -2.39M | -679K | -1.95M | -538K | -1.91M | -6.42M | -3.69M | -427K | -1.45M |
| CapEx % of Revenue | 5.61% | 0.08% | 0.14% | 0.01% | 27.76% | 11.68% | 46.03% | 14.79% | 0.01% | 20.59% | 10.85% | 1.75% | 0.64% | 1.6% | 0.27% | 0.86% | 3.09% | 2.36% | 0.27% | 1.06% |
| Acquisitions | -34.06M | -11.84M | -54.75M | -20.69M | 0 | 0 | 0 | 0 | -27.7M | 79K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 121K | 0 | -45K | 0 | 0 | 400K | 0 | 2.72M | 0 | 0 | 0 | 73K | 0 | 0 | 0 | 1.38M | 6.38M | 3.59M | 1K | 317K |
| Cash from Financing | -62.12M | -40.44M | -14.91M | -75.4M | -50.76M | -51.86M | -61.39M | -86.4M | -86.45M | -110.32M | -105.07M | -105.03M | -105.08M | -120.36M | -152.43M | -119.2M | -72.01M | -84.7M | -67.42M | -54.49M |
| Debt Issued (Net) | 9M | 33M | 59M | -4M | 36M | 38M | 25M | 0 | 0 | 0 | 0 | 0 | 0 | -10M | -50M | -26M | 17M | -20M | -10M | 3M |
| Equity Issued (Net) | 0 | -2.33M | -22K | -466K | 0 | -3.29M | 0 | 0 | -68K | -4.38M | 0 | 0 | 0 | -5.5M | 0 | 0 | 0 | -2.99M | 0 | 0 |
| Dividends Paid | -71.12M | -71.07M | -70.92M | -70.92M | -86.73M | -86.54M | -86.38M | -86.37M | -86.38M | -105.92M | -105M | -104.99M | -104.98M | -104.85M | -99.48M | -93.2M | -89.01M | -61.71M | -57.42M | -57.41M |
| Share Repurchases | 0 | -2.33M | -22K | -466K | 0 | -3.29M | 0 | 0 | -68K | -4.38M | 0 | 0 | 0 | -5.5M | 0 | 0 | 0 | -2.99M | 0 | 0 |
| Other Financing | 0 | -36K | -2.96M | -15K | -31K | -31K | -14K | -28K | -6K | -16K | -74K | -39K | -91K | -12K | -2.94M | 0 | 0 | 0 | 0 | -74K |
| Net Change in Cash | -9.93M | 10.12M | -4.69M | 3.65M | 95K | -95K | -18.44M | -5.71M | -13.79M | -29.83M | 14.25M | 9.36M | 27.52M | 14.84M | 3.47M | -11.32M | 5.5M | -2.22M | 5.61M | 2.22M |
| Free Cash Flow | 86.12M | 62.41M | 10.26M | 99.75M | 50.86M | 51.37M | 42.95M | 77.98M | 100.37M | 80.42M | 119.32M | 114.32M | 132.59M | 135.2M | 155.9M | 106.5M | 71.14M | 78.89M | 73.03M | 56.39M |
| FCF Margin % | 70.52% | 33.12% | 10.78% | 128.05% | 47.66% | 44.57% | 41.18% | 75.58% | 87.15% | 68.86% | 87.49% | 83.62% | 125.44% | 110.54% | 78.35% | 48.16% | 34.25% | 50.43% | 45.37% | 41.05% |
| FCF Growth % | 69.34% | 21.5% | -76.11% | 27.91% | -49.33% | -36.12% | -64.01% | -31.79% | -24.3% | -40.52% | -23.46% | 7.35% | 86.38% | 71.39% | 113.48% | 88.85% | 24.04% | 42.21% | 20.45% | -11% |
| FCF per Share | 0.41 | 0.29 | 0.05 | 0.47 | 0.22 | 0.24 | 0.20 | 0.37 | 0.48 | 0.38 | 0.53 | 0.54 | 0.63 | 0.60 | 0.69 | 0.47 | 0.32 | 0.38 | 0.33 | 0.27 |
| FCF Conversion (FCF/Net Income) | 0.87x | 4.71x | 0.90x | 1.09x | 0.67x | 4.07x | 1.96x | 1.01x | 1.47x | 1.63x | 0.91x | 1.88x | 1.70x | 1.02x | 0.85x | 0.64x | 0.59x | -11.79x | 0.55x | 3.58x |
| Interest Paid | 0 | 0 | 0 | 0 | 1.9M | 1.04M | 781K | 461K | 0 | 0 | 406K | 355K | 387K | 588K | 1.13M | 1.34M | 992K | 872K | 1.09M | 997K |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |