Black Stone Minerals, L.P. (BSM) Earnings History
Elite Compounder14 years of earnings data (2012–2025) · 5-year EPS CAGR exceeds 18% — top-tier earnings quality
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Black Stone Minerals, L.P. (BSM) Earnings Overview
As of June 22, 2026, Black Stone Minerals, L.P. (BSM) reported trailing twelve-month net income of $297M, reflecting +11.3% year-over-year growth. The company earned $1.40 per diluted share over the past four quarters, with a net profit margin of 71.0%.
Looking at the long-term picture, BSM's 5-year EPS compound annual growth rate (CAGR) stands at +21.2%, indicating exceptional earnings growth. The company achieved its highest annual net income of $476M in fiscal 2022.
Black Stone Minerals, L.P. maintains industry-leading profitability with a gross margin of 74.9%, operating margin of 61.8%, and net margin of 71.0%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including VNOM (-$46M net income, -5.1% margin), TPL ($504M net income, 60.3% margin), DMLP ($69M net income, 37.5% margin), BSM has outperformed on profitability metrics. Compare BSM vs VNOM →
BSM Earnings vs Peers
Earnings metrics vs comparable public companies
BSM Historical Earnings Data (2012–2025)
14 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $300M | +10.5% | $261M | $1.28 | 71.0% | 61.8% |
| 2024 | $271M | -35.8% | $273M | $1.15 | 61.7% | 62.2% |
| 2023 | $423M | -11.3% | $424M | $1.88 | 84.3% | 84.5% |
| 2022 | $476M | +161.8% | $482M | $2.12 | 60.8% | 61.5% |
| 2021 | $182M | +49.4% | $187M | $0.77 | 36.0% | 37.0% |
| 2020 | $122M | -43.2% | $132M | $0.49 | 41.1% | 44.5% |
| 2019 | $214M | -27.5% | $235M | $1.01 | 43.5% | 47.7% |
| 2018 | $296M | +88.0% | $318M | $1.36 | 48.5% | 52.2% |
| 2017 | $157M | +678.2% | $172M | $1.01 | 36.6% | 40.1% |
| 2016 | $20M | +120.2% | $27M | $0.26 | 7.7% | 10.5% |
| 2015 | -$100M | -158.7% | -$96M | $-0.53 | -25.5% | -24.4% |
| 2014 | $170M | +1.0% | $182M | $0.81 | 31.1% | 33.1% |
| 2013 | $169M | +83.8% | $180M | $0.89 | 36.4% | 38.8% |
| 2012 | $92M | - | $160M | $0.04 | 24.9% | 43.3% |
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BSM — Frequently Asked Questions
Quick answers to the most common questions about buying BSM stock.
What is BSM earnings per share (EPS)?
BSM trailing twelve-month (TTM) diluted EPS is $1.40, reflecting +11.3% year-over-year growth. The 5-year EPS CAGR is +21.2%. Complete EPS history from 2012 to 2025 is available in the table on this page.
What is Black Stone Minerals, L.P.'s net income?
Black Stone Minerals, L.P. (BSM) trailing twelve-month net income is $297M as of 2025. Earnings grew +11.3% year-over-year. Black Stone Minerals, L.P. has been profitable for 10 consecutive years.
Is BSM profitable?
Yes, BSM is profitable with a TTM net income of $297M and a net profit margin of +71.0%. Black Stone Minerals, L.P. has generated profits for 10 consecutive years.
What is BSM's earnings growth rate?
BSM compound annual EPS growth rates (CAGR): 1-Year: +11.3%, 3-Year: -15.5%, 5-Year: +21.2%, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2012 to 2025.
What are BSM's profit margins?
Black Stone Minerals, L.P. net profit margin is +71.0%, operating margin is +61.8%, and gross margin is +74.9%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +26.6%.
Is BSM growing earnings?
BSM is growing earnings steadily. YoY EPS growth of +11.3% is consistent with the 5-year CAGR of +21.2%. TTM net income is $297M.
What was BSM's best earnings year?
Black Stone Minerals, L.P.'s highest annual net income on record is $476M, achieved in fiscal year 2022. Earnings history on this page spans 2012 to 2025 and includes all annual and quarterly figures.
What were BSM's earnings last quarter?
BSM's most recent reported quarter was Q1 2026. Net income was $13M with diluted EPS of $0.03. For a full breakdown of all quarters, see the quarterly earnings table on this page.