Black Stone Minerals, L.P. (BSM) P/E Ratio History
Fairly ValuedTrading at 11.4x, near 5Y avg of 12.6x · 55th percentile · In line with own history · Data 2015–2026
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P/E Ratio Analysis
As of September 24, 2026, Black Stone Minerals, L.P. (BSM) trades at a price-to-earnings ratio of 11.4x, with a stock price of $14.56 and trailing twelve-month earnings per share of $1.33.
The current P/E is roughly in line with its 5-year average of 12.6x. Over the past five years, BSM's P/E has ranged from a low of 5.7x to a high of 44.6x, placing the current valuation at the 55th percentile of its historical range.
Compared to the Energy sector median P/E of 16.3x, BSM trades at a 30% discount to its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.4x to 191.9x.
The PEG ratio of 0.54 (P/E divided by 11% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, BSM trades at a notable discount to the S&P 500 median P/E of 25.3x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our BSM DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
BSM Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
BSM P/E vs Peers
Mineral and royalty interest owners peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $23B | 48.2 | 2.14 | +6% | |
| $1B | 24.3 | 1.67 | -44% | |
| $1B | 10.7Lowest | - | -12% | |
| $25B | 14.5 | 0.41Best | +49% | |
| $76B | 15.6 | - | -19% | |
| $34B | 11.4 | - | -8% | |
| $156B | 20.2 | - | -19% | |
| $11B | 17.6 | - | +1028%Best | |
| $81B | 14.1 | 1.53 | -1% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
BSM Historical P/E Data (2015–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q2 | - | $13.97 | $1.21 | 11.6x | -35% |
| FY2026 Q1 | - | $15.12 | $1.27 | 11.9x | -33% |
| FY2025 Q4 | Dec 31 2025 | $13.29 | $1.28 | 10.4x | -42% |
| FY2025 Q3 | - | $13.14 | $1.15 | 11.4x | -36% |
| FY2025 Q2 | Jun 30 2025 | $13.08 | $1.16 | 11.3x | -37% |
| FY2025 Q1 | Mar 31 2025 | $15.27 | $0.92 | 16.6x | -7% |
| FY2024 Q4 | - | $14.60 | $1.15 | 12.7x | -29% |
| FY2024 Q3 | Sep 30 2024 | $15.10 | $1.62 | 9.3x | -48% |
| FY2024 Q2 | Jun 30 2024 | $15.67 | $1.48 | 10.6x | -41% |
| FY2024 Q1 | Mar 31 2024 | $15.98 | $1.54 | 10.4x | -42% |
| FY2023 Q4 | Dec 31 2023 | $15.96 | $1.87 | 8.5x | -52% |
| FY2023 Q3 | Sep 30 2023 | $17.23 | $2.04 | 8.4x | -53% |
| FY2023 Q2 | Jun 30 2023 | $15.95 | $2.52 | 6.3x | -64% |
| FY2023 Q1 | Mar 31 2023 | $15.69 | $2.76 | 5.7x | -68% |
| FY2022 Q4 | Dec 31 2022 | $16.87 | $2.10 | 8.0x | -55% |
| FY2022 Q3 | Sep 30 2022 | $15.65 | $1.88 | 8.3x | -53% |
| FY2022 Q2 | - | $13.69 | $1.18 | 11.6x | -35% |
| FY2022 Q1 | - | $13.46 | $0.64 | 21.0x | +18% |
| FY2021 Q4 | Dec 31 2021 | $10.33 | $0.75 | 13.8x | -23% |
| FY2021 Q3 | - | $12.05 | $0.27 | 44.6x | +151% |
| FY2021 Q2 | Jun 30 2021 | $10.75 | $0.31 | 34.7x | +95% |
| FY2021 Q1 | Mar 31 2021 | $8.72 | $0.19 | 45.9x | +158% |
| FY2020 Q4 | - | $6.68 | $0.48 | 13.9x | -22% |
| FY2020 Q3 | Sep 30 2020 | $6.14 | $0.53 | 11.6x | -35% |
| FY2020 Q2 | - | $6.50 | $0.76 | 8.6x | -52% |
| FY2020 Q1 | - | $4.68 | $1.27 | 3.7x | -79% |
| FY2019 Q4 | - | $12.72 | $0.95 | 13.4x | -25% |
| FY2019 Q3 | Sep 30 2019 | $14.24 | $1.50 | 9.5x | -47% |
| FY2019 Q2 | Jun 30 2019 | $15.50 | $1.45 | 10.7x | -40% |
| FY2019 Q1 | Mar 31 2019 | $17.64 | $1.18 | 14.9x | -16% |
| FY2018 Q4 | Dec 31 2018 | $15.48 | $1.39 | 11.1x | -37% |
| FY2018 Q3 | Sep 30 2018 | $18.21 | $0.82 | 22.2x | +25% |
| FY2018 Q2 | Jun 30 2018 | $18.49 | $0.71 | 26.0x | +46% |
| FY2018 Q1 | Mar 31 2018 | $16.55 | $0.86 | 19.2x | +8% |
| FY2017 Q4 | Dec 31 2017 | $17.94 | $1.00 | 17.9x | +1% |
| FY2017 Q3 | Sep 30 2017 | $17.34 | $0.81 | 21.4x | +20% |
| FY2017 Q2 | Jun 30 2017 | $15.76 | $0.89 | 17.7x | -1% |
| FY2017 Q1 | Mar 31 2017 | $16.51 | $0.46 | 35.7x | +101% |
| FY2016 Q4 | Dec 31 2016 | $18.78 | $0.18 | 103.2x | +480% |
| FY2015 Q3 | Sep 30 2015 | $13.80 | $0.70 | 19.8x | +11% |
| FY2015 Q2 | - | $17.22 | $1.04 | 16.6x | -7% |
Average P/E for displayed period: 17.8x
BSM Chart Terminal
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Live Breakouts Feed
High-probability breakout stocks crossing their pivot across 5 pattern engines.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
11+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
BSM — Frequently Asked Questions
Quick answers to the most common questions about buying BSM stock.
What is BSM's P/E ratio?
Black Stone Minerals, L.P. (BSM) trailing twelve-month P/E ratio is 11.4x, based on TTM diluted EPS of $1.33. The 5-year average P/E is 12.6x and the historical range spans 5.7x to 44.6x.
Is BSM stock overvalued or undervalued?
BSM trades at 11.4x P/E, near its 5-year average of 12.6x. The 55th percentile ranking within the 5.7x–44.6x historical range places valuation within normal bounds.
Is BSM stock expensive?
BSM is fairly valued relative to its own history. The current P/E of 11.4x is near the 5-year average of 12.6x (55th percentile of historical range).
What is BSM's historical P/E range?
Over the past 5 years, BSM's P/E ratio has ranged from 5.7x to 44.6x, with a median of 11.3x and an average of 12.6x. The current P/E of 11.4x places the stock at the 55th percentile of this range. Full historical data spans 2015–2026.
How does BSM's P/E compare to the S&P 500?
BSM trades at 11.4x P/E versus the S&P 500 median of 25.3x. The 55% discount to the market suggests lower growth expectations or perceived higher risk.
How does BSM's valuation compare to Energy peers?
Black Stone Minerals, L.P. P/E of 11.4x compares to the Energy sector median of 16.3x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is BSM's PEG ratio?
BSM PEG ratio is 0.54, based on a P/E of 11.4x and EPS growth of 11.3%. A PEG below 1.0 indicates the valuation is supported by the earnings growth rate — typically considered attractive.
What is BSM's earnings yield?
BSM earnings yield is 8.79%, the inverse of its 11.4x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.