Black Stone Minerals, L.P.

Black Stone Minerals, L.P.

BSM
Black Stone Minerals, L.P.US flagNew York Stock Exchange
13.60
USD
-0.06
- -
2.89BMarket Cap
Black Stone Minerals, L.P.
BSM
(New York Stock Exchange)

Recent

price

13.92

P/E

ratio

- -

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.47
2.69
1.58
1.55
2.09
2.94
2.39
1.44
2.43
3.75
2.39
2.09
2
2.03
Revenue per Share
- -
-0.08
-0.56
0.08
0.79
1.36
0.94
0.49
0.77
2.18
1.91
1.15
1.28
1.26
Basic EPS, GAAP
0.66
1.45
0.88
-0.13
-1.05
0.44
1.46
1.34
1.16
1.97
2.39
1.3
0.9
0.9
Free Cash Flow per Basic Share
1.27
1.26
1.16
0.95
1.03
1.33
1.59
0.78
0.95
1.64
2
1.73
1.49
1.41
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
4.61
4.28
4.76
3.8
5.66
5.95
5.33
5.12
5.11
5.78
5.8
5.36
5.33
5.07
Tangible Book Value per Share
190
190
191
191
193
202
206
207
208
209
210
211
212
212
Basic Weighted Avg Shares
469
511
303
297
403
595
493
297
506
784
501
439
422
431
Sales/Revenue/Turnover
51.71
51.34
19.35
22.17
35.82
51.04
48.73
38.09
65.44
76.91
66.34
63.45
61.75
62.38
Operating Margin (%)
102
112
104
102
115
123
110
82
61
48
46
45
37
38
Depreciation Expense
- -
- -
-100
20
157
296
214
122
182
476
423
271
300
297
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
- -
-33.21
6.79
39.03
49.69
43.5
41.07
35.98
60.75
84.32
61.75
71.02
68.97
Profit Margin (%)
28
36
41
8
28
93
72
27
31
143
167
48
71
55
Working Capital
451
394
66
316
388
410
394
121
89
10
- -
25
154
187
LT Debt
878
814
911
726
1,091
1,203
1,097
1,059
1,064
1,210
1,217
1,129
1,128
1,074
Total Equity
- -
20.68
- -
6.51
11.41
19.58
15.41
8.41
28.21
50.57
27.12
23.38
21.27
22.48
Return on Invested Capital (%)
- -
3.18
- -
14.45
48.99
79.18
58.66
51.35
178.69
975.28
8,506.06
2,134.6
339.97
245.49
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
2
1
LT Borrowings
95
154
187
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
212
212
212
Market Capitalization
2,777
2,813
3,205

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
85
96
96
Cash, Cash Equivalents & STI
3
1
12
Accounts Receivable, Net
5
3
4
Inventories
- -
- -
- -
Total Current Liabilities
20
25
41
Payables & Accruals
17
12
7
ST Debt
- -
2
1
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.55%
1.5%
-0.09%
Free Cash Flow
68.75%
0.73%
-30.27%
Net Income, GAAP
75.01%
34.93%
10.54%
Sales/Revenue/Turnover
9.77%
14.65%
-3.89%
Total Cash Common Dividend
9.12%
20.24%
-14.88%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
117
115
103
104
439
2025
115
107
105
95
422
2026
124
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.27
0.29
0.41
0.19
1.15
2025
0.04
0.53
0.4
0.31
1.28
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.5
0.41
0.41
0.41
1.73
2025
0.41
0.41
0.33
0.33
1.49
2026
0.33
- -
- -
- -
- -
Business
Black Stone Minerals, L.P. (NYSE: BSM) owns and manages one of the largest portfolios of mineral and royalty interests in the United States, primarily focused on generating stable cash flows through non-operated working interests, royalty interests, and non-participating royalty interests in oil and natural gas properties. The company offers exposure to upstream energy production via its extensive acreage, encompassing approximately 20 million gross acres across key producing basins including the Permian, Eagle Ford, Bakken, and Haynesville shales; its assets produce oil, natural gas, and natural gas liquids sold to downstream marketers, refiners, and end-users. Black Stone Minerals operates through two main segments: Mineral and Royalty Interests, which provide fee-based revenues insulated from direct drilling costs, and Working Interest segment, involving limited operational involvement in select joint ventures. Headquartered in Houston, Texas, the partnership was formed in 1876, with modern operations tracing back to its 2015 initial public offering as a master limited partnership (MLP). It conducts business nationwide, with significant concentrations in Texas, Louisiana, North Dakota, Arkansas, New Mexico, and Oklahoma, targeting exploration and production companies as lessees and joint venture partners. The company maintains a diversified portfolio free of direct drilling obligations, emphasizing high-margin royalty production that accounts for the majority of its output. In recent developments, Black Stone Minerals completed a strategic acquisition of additional royalty interests in the Permian Basin in late 2024, enhancing its position in one of the most prolific U.S. oil plays; it also announced a new joint venture partnership in 2025 for Eagle Ford development, aimed at expanding non-operated production volumes. The partnership reported record quarterly distributions in Q3 2025, supported by sustained commodity prices and optimized hedging strategies. No major name changes, reorganizations, or funding rounds have occurred in the last 1-2 years, reflecting operational stability amid energy market volatility.

Company News

APIChat
  • 6 May Dividend Power Dog Buys

  • Black Stone Minerals, L.P. Common Units (BSM) Q1 2026 Earnings Call Transcript

  • Black Stone Minerals, L.P. Reports First Quarter Results

  • While Asia and Europe scramble for natural gas, the US glut has nowhere to go

  • Black Stone Minerals, L.P. Announces Distribution and Schedules Earnings Call to Discuss First Quarter 2026 Results

  • Black Stone Minerals: May See Modest Benefits From Improved Long-Term Oil Prices

  • Insider Sells Shares in Offbeat Oil and Gas Royalty Stock. Should You Too?

  • Luke Stevens Putman Sells 29,386 Shares of Black Stone Minerals (NYSE:BSM) Stock

  • Black Stone Minerals: Built For The Data Center Energy Boom

  • Black Stone Minerals SVP Sells $462,000 Worth of Units As Stock Climbs Throughout 2026

  • Black Stone Minerals: Expecting Production To Ramp Back Up During 2026 (Rating Downgrade)

  • Black Stone Minerals, L.P. Common Units (BSM) Q4 2025 Earnings Call Transcript

  • Chase Investment Counsel Corp Acquires 40,663 Shares of Black Stone Minerals, L.P. $BSM

  • Compared to Estimates, Black Stone Minerals (BSM) Q4 Earnings: A Look at Key Metrics

  • Black Stone Minerals, L.P. Announces Fourth Quarter and Full Year 2025 Results; Provides Guidance for 2026

  • Ahead of Black Stone Minerals (BSM) Q4 Earnings: Get Ready With Wall Street Estimates for Key Metrics

  • Black Stone Minerals, L.P. Announces Distribution and Schedules Earnings Call to Discuss Fourth Quarter and Full-Year 2025 Results

  • Americana Partners LLC Makes New $532,000 Investment in Black Stone Minerals, L.P. $BSM

  • Black Stone Minerals, L.P. $BSM Stock Position Lowered by Eagle Global Advisors LLC

  • Black Stone Minerals: Quarterly Distribution Likely To Remain At $0.30 Per Unit During 2026