Last 48 quarters of trend data · Energy · Oil & Gas Exploration & Production
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Black Stone Minerals, L.P.'s quarterly P/E stands at 136.0x, up 44.6% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 82.4% YoY to 5.4x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 10.43 | 135.97 | 10.72 | 8.21 | 6.17 | 94.03 | 20.28 | 9.21 | 13.51 | 14.80 | 6.14 | 15.95 | 11.39 |
| — | +44.6% | -47.1% | -10.8% | -54.3% | +535.5% | +230.3% | -42.3% | +18.6% | +126.3% | +19.3% | +205.8% | +96.4% | |
| P/S Ratio | 6.71 | 4.26 | 7.40 | 8.92 | 6.95 | 7.00 | 7.39 | 7.71 | 7.17 | 7.21 | 6.60 | 6.62 | 7.92 |
| — | -39.1% | +0.2% | +15.8% | -3.0% | -2.9% | +12.0% | +16.5% | -9.5% | -0.1% | +38.5% | +66.7% | +114.3% | |
| P/B Ratio | 2.51 | — | 2.51 | 2.47 | 2.69 | 3.03 | 2.73 | 2.72 | 2.85 | 2.86 | 2.96 | 3.08 | 2.76 |
| — | — | -8.2% | -9.3% | -5.5% | +5.8% | -7.7% | -11.7% | +3.1% | +0.5% | -5.7% | -1.5% | -6.3% | |
| P/FCF | 9.50 | — | 68.68 | 6.97 | 14.58 | 15.70 | 17.94 | 10.20 | 8.22 | 10.46 | 7.54 | 7.91 | 6.31 |
| — | — | +282.8% | -31.7% | +77.3% | +50.0% | +137.9% | +28.9% | +30.2% | +60.4% | +24.0% | -4.0% | -41.5% | |
| EV / EBITDA | 9.99 | 5.43 | 12.31 | 14.41 | 5.82 | 30.86 | 13.20 | 7.57 | 10.25 | 11.00 | 5.54 | 11.97 | 9.26 |
| — | -82.4% | -6.8% | +90.4% | -43.2% | +180.7% | +138.4% | -36.8% | +10.8% | +83.4% | +15.3% | +144.6% | +70.7% | |
| EV / EBIT | 11.45 | 5.81 | 9.90 | 7.62 | 6.26 | 47.37 | 16.35 | 8.45 | 11.88 | 12.88 | 5.95 | 14.21 | 10.45 |
| — | -87.7% | -39.5% | -9.9% | -47.3% | +267.8% | +174.8% | -40.5% | +13.7% | +98.5% | +16.1% | +170.8% | +76.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Black Stone Minerals, L.P.'s operating margin was 77.3% in Q1 2026, up 23.4 pp QoQ and up 62.4 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 74.1% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 6.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.9% | 86.3% | 68.7% | 66.5% | 80.1% | 81.4% | 77.1% | 74.8% | 76.2% | 76.8% | 78.0% | 77.0% | 75.3% |
| — | +6.0% | -10.8% | -11.0% | +5.1% | +6.0% | -1.2% | -2.9% | +1.2% | -2.0% | -7.7% | -9.5% | -9.7% | |
| Operating Margin | 61.8% | 77.3% | 53.9% | 50.7% | 114.6% | 14.9% | 45.6% | 90.2% | 59.5% | 54.8% | 108.2% | 45.4% | 74.5% |
| — | +419.3% | +18.4% | -43.8% | +92.7% | -72.8% | -57.9% | +98.9% | -20.2% | -50.4% | +16.4% | -41.0% | +16.3% | |
| Net Margin | 71.0% | 7.0% | 75.9% | 117.8% | 112.5% | 13.8% | 44.4% | 89.9% | 59.3% | 54.7% | 108.3% | 45.4% | 74.2% |
| — | -49.1% | +70.8% | +31.0% | +89.6% | -74.7% | -59.0% | +98.0% | -20.0% | -50.2% | +17.6% | -40.4% | +16.9% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 26.6% | — | 6.4% | 8.2% | 11.1% | 1.5% | 4.0% | 8.0% | 5.8% | 5.3% | 12.4% | 5.2% | 6.4% |
| — | — | +59.1% | +3.4% | +89.4% | -72.8% | -67.3% | +53.1% | -8.5% | -51.4% | -21.4% | -66.6% | -50.5% | |
| ROA | 23.5% | — | 5.5% | 7.2% | 9.6% | 1.3% | 3.8% | 7.6% | 5.6% | 5.1% | 11.8% | 5.0% | 6.2% |
| — | — | +45.4% | -5.3% | +71.6% | -74.6% | -67.7% | +52.8% | -10.2% | -51.6% | -18.1% | -62.3% | -40.8% | |
| ROIC | 16.1% | 66.7% | 3.1% | 2.5% | 7.9% | 1.1% | 3.1% | 6.1% | 4.5% | 4.2% | 9.8% | 4.1% | 5.0% |
| — | +5797.8% | -0.3% | -59.9% | +74.3% | -73.1% | -68.3% | +50.3% | -8.6% | -49.5% | -15.6% | -63.3% | -46.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Black Stone Minerals, L.P.'s Debt/EBITDA ratio is 1.2x, down from 2.6x last quarter — comfortably within a safe range.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.14 | — | 0.14 | 0.08 | 0.09 | 0.06 | 0.02 | — | — | — | — | — | — |
| — | — | +518.3% | — | — | — | — | — | — | — | — | — | — | |
| Debt / EBITDA | 0.51 | 1.20 | 2.55 | 1.91 | 0.75 | 2.37 | 0.43 | — | — | — | — | — | — |
| — | -49.3% | +500.0% | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.88 | — | 3.88 | 4.37 | 3.22 | 1.35 | 2.58 | 5.61 | 4.23 | 5.34 | 7.48 | 4.94 | 10.26 |
| — | — | +50.4% | -22.2% | -23.9% | -74.7% | -65.5% | +13.6% | -58.8% | -62.9% | +32.5% | +119.6% | +723.5% | |
| Quick Ratio | 3.88 | — | 3.88 | 4.37 | 3.22 | 1.35 | 2.58 | 5.61 | 4.23 | 5.34 | 7.48 | 4.31 | 7.26 |
| — | — | +50.4% | -22.2% | -23.9% | -74.7% | -65.5% | +30.2% | -41.7% | -62.9% | +61.9% | +91.7% | +482.6% | |
| Interest Coverage | 34.59 | 43.36 | 26.46 | 38.81 | 53.88 | 12.42 | 42.01 | 129.08 | 110.14 | 102.63 | 220.06 | 100.95 | 122.54 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Black Stone Minerals, L.P.'s current P/E is 10.4x. The average P/E over the last 4 quarters is 40.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Black Stone Minerals, L.P.'s current operating margin is 61.8%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Black Stone Minerals, L.P.'s business trajectory between earnings reports.