Black Stone Minerals, L.P. BSM

Energy SIC 1311 - Crude Petroleum & Natural Gas NAICS Mining, Quarrying, and Oil and Gas Extraction › Oil and Gas Extraction derived NYSE

Black Stone Minerals, L.P. ("BSM," the "Partnership," "we" or "us") is one of the largest owners and managers of oil and natural gas mineral interests in the United States ("U.S."). Our principal business is maximizing the value of our existing portfolio of mineral and royalty assets through active management. We maximize value through marketing our mineral assets for lease and creatively structuring the terms on those leases to encourage and accelerate drilling activity. We believe our large, diversified asset base and long-lived, non-cost-bearing mineral and royalty interests provide for stable production and reserves over time, allowing the majority of generated cash flow to be distributed to unitholders. Alongside our primary focus on traditional revenue streams from our asset base, we will continue to explore the relevance of our assets in energy transition, including opportunities in renewable energy and carbon sequestration.

Last close 14.97 2026-10-23
Market cap —
52-week range 12.93 - 15.49

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $422.3M$439.4M$501.1M$784.3M$505.7M$296.6M$492.8M$594.7M$402.8M$297.3M
SG&A $55.5M$52.1M$51.5M$53.7M$48.7M$43.0M$63.4M$76.7M$77.6M$73.1M
Total operating expenses $161.5M$160.6M$168.6M$181.1M$171.9M$210.6M$252.6M$291.2M$257.6M$233.4M
Operating income $308.4M$273.1M$423.6M$482.5M$187.3M$132.1M$235.2M$318.4M$172.1M$27.5M
Interest expense $8.9M$3.1M$2.8M$6.3M$5.6M$10.4M$21.4M$20.8M$15.7M$7.5M
Net income $299.9M$271.3M$422.5M$476.5M$182.0M$121.8M$214.4M$295.6M$157.2M$20.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.5M$2.5M$70.3M$4.3M$8.9M$1.8M$8.1M$5.4M$5.6M$9.8M
Receivables $2.9M$4.0M$82.3M$135.7M$97.1M$61.9M$78.2M$113.1M$80.7M$68.2M
Total current assets $95.6M$78.5M$193.1M$173.4M$108.0M$66.5M$102.3M$157.5M$87.6M$79.0M
Property, plant and equipment $1.23B$1.13B$1.07B$1.09B$1.13B$1.17B$1.43B$1.58B$1.48B$1.04B
Total assets $1.34B$1.22B$1.27B$1.27B$1.25B$1.24B$1.72B$1.71B$1.64B$1.20B
Accounts payable $2.8M$5.9M$6.3M$6.8M$5.9M$3.4M$5.3M$4.1M$2.5M$4.1M
Total current liabilities $24.6M$30.4M$25.8M$30.7M$77.1M$39.9M$29.8M$64.8M$59.7M$71.3M
Total liabilities $207.1M$89.5M$49.5M$61.3M$184.3M$185.0M$448.4M$547.5M$485.9M$403.2M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $310.2M$389.0M$521.3M$425.0M$256.9M$281.8M$412.7M$385.4M$281.9M$196.7M
Depreciation and amortisation $36.9M$45.2M$45.7M$47.8M$61.0M$82.0M$109.6M$122.7M$114.5M$102.5M
Stock-based compensation $9.6M$8.6M$10.8M$17.4M$12.2M$3.7M$20.5M$30.1M$33.0M$43.1M
Investing cash flow -$118.3M-$112.2M-$19.7M-$1.2M-$14.3M$151.2M-$48.6M-$163.8M-$454.2M-$221.5M
Financing cash flow -$192.9M-$344.6M-$435.5M-$428.3M-$235.5M-$439.4M-$361.4M-$221.8M$168.3M$21.4M
Buybacks ———————$2.0M——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-197340.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 200M 400M 600M 800M Revenue, FY2016: 297.3M Net income, FY2016: 20.2M Revenue, FY2017: 402.8M Net income, FY2017: 157.2M Revenue, FY2018: 594.7M Net income, FY2018: 295.6M Revenue, FY2019: 492.8M Net income, FY2019: 214.4M Revenue, FY2020: 296.6M Net income, FY2020: 121.8M Revenue, FY2021: 505.7M Net income, FY2021: 182M Revenue, FY2022: 784.3M Net income, FY2022: 476.5M Revenue, FY2023: 501.1M Net income, FY2023: 422.5M Revenue, FY2024: 439.4M Net income, FY2024: 271.3M Revenue, FY2025: 422.3M Net income, FY2025: 299.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $297.3M $402.8M $594.7M $492.8M $296.6M $505.7M $784.3M $501.1M $439.4M $422.3M
Gross profit — — — — — — — — — —
Net income $20.2M $157.2M $295.6M $214.4M $121.8M $182.0M $476.5M $422.5M $271.3M $299.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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