BLACK STONE MINERALS LP (BSM) Stock Fundamental Analysis
USA - NYSE:BSM - US09225M1018
12.46 USD
-0.02 (-0.16%)
Taking everything into account, BSM scores 6 out of 10 in our fundamental rating. BSM was compared to 211 industry peers in the Oil, Gas & Consumable Fuels industry. Both the health and profitability get an excellent rating, making BSM a very profitable company, without any liquidiy or solvency issues. BSM is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year BSM was profitable.
BSM had a positive operating cash flow in the past year.
BSM had positive earnings in each of the past 5 years.
In the past 5 years BSM always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of BSM (19.37%) is better than 95.73% of its industry peers.
With an excellent Return On Equity value of 22.27%, BSM belongs to the best of the industry, outperforming 88.63% of the companies in the same industry.
The Return On Invested Capital of BSM (17.86%) is better than 94.79% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BSM is above the industry average of 21.53%.
The 3 year average ROIC (25.28%) for BSM is well above the current ROIC(17.86%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.37% | ||
| ROE | 22.27% | ||
| ROIC | 17.86% |
ROA(3y)29.1%
ROA(5y)21.66%
ROE(3y)30.66%
ROE(5y)23.33%
ROIC(3y)25.28%
ROIC(5y)19.74%
1.3 Margins
The Profit Margin of BSM (56.16%) is better than 94.31% of its industry peers.
In the last couple of years the Profit Margin of BSM has grown nicely.
BSM has a Operating Margin of 64.04%. This is amongst the best in the industry. BSM outperforms 94.79% of its industry peers.
In the last couple of years the Operating Margin of BSM has grown nicely.
Looking at the Gross Margin, with a value of 88.08%, BSM belongs to the top of the industry, outperforming 94.79% of the companies in the same industry.
In the last couple of years the Gross Margin of BSM has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 64.04% | ||
| PM (TTM) | 56.16% | ||
| GM | 88.08% |
OM growth 3Y7.06%
OM growth 5Y5.48%
PM growth 3Y7.56%
PM growth 5Y7.06%
GM growth 3Y1.53%
GM growth 5Y0.56%
2. Health
2.1 Basic Checks
BSM has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
BSM has less shares outstanding than it did 1 year ago.
BSM has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BSM is higher compared to a year ago.
2.2 Solvency
BSM has a debt to FCF ratio of 0.44. This is a very positive value and a sign of high solvency as it would only need 0.44 years to pay back of all of its debts.
With an excellent Debt to FCF ratio value of 0.44, BSM belongs to the best of the industry, outperforming 91.00% of the companies in the same industry.
A Debt/Equity ratio of 0.09 indicates that BSM is not too dependend on debt financing.
BSM has a Debt to Equity ratio of 0.09. This is in the better half of the industry: BSM outperforms 76.78% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | 0.44 | ||
| Altman-Z | N/A |
ROIC/WACC2.05
WACC8.71%
2.3 Liquidity
BSM has a Current Ratio of 3.22. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 3.22, BSM belongs to the best of the industry, outperforming 85.31% of the companies in the same industry.
BSM has a Quick Ratio of 3.22. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
BSM's Quick ratio of 3.22 is amongst the best of the industry. BSM outperforms 86.73% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.22 | ||
| Quick Ratio | 3.22 |
3. Growth
3.1 Past
The earnings per share for BSM have decreased strongly by -22.97% in the last year.
BSM shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 5.02% yearly.
The Revenue for BSM has decreased by -15.21% in the past year. This is quite bad
Measured over the past years, BSM shows a decrease in Revenue. The Revenue has been decreasing by -2.32% on average per year.
EPS 1Y (TTM)-22.97%
EPS 3Y13.82%
EPS 5Y5.02%
EPS Q2Q%82.76%
Revenue 1Y (TTM)-15.21%
Revenue growth 3Y6.47%
Revenue growth 5Y-2.32%
Sales Q2Q%-7.35%
3.2 Future
The Earnings Per Share is expected to grow by 3.98% on average over the next years.
The Revenue is expected to grow by 4.12% on average over the next years.
EPS Next Y-1.93%
EPS Next 2Y2.23%
EPS Next 3Y3.98%
EPS Next 5YN/A
Revenue Next Year-4%
Revenue Next 2Y1.75%
Revenue Next 3Y4.12%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 10.93, the valuation of BSM can be described as reasonable.
Based on the Price/Earnings ratio, BSM is valued a bit cheaper than 69.67% of the companies in the same industry.
BSM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.29.
With a Price/Forward Earnings ratio of 10.37, the valuation of BSM can be described as very reasonable.
BSM's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BSM is cheaper than 65.88% of the companies in the same industry.
BSM's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.85.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.93 | ||
| Fwd PE | 10.37 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as BSM.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BSM indicates a somewhat cheap valuation: BSM is cheaper than 68.72% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.83 | ||
| EV/EBITDA | 8.55 |
4.3 Compensation for Growth
The excellent profitability rating of BSM may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.18
EPS Next 2Y2.23%
EPS Next 3Y3.98%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 9.12%, BSM is a good candidate for dividend investing.
BSM's Dividend Yield is rather good when compared to the industry average which is at 6.15. BSM pays more dividend than 86.26% of the companies in the same industry.
BSM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.12% |
5.2 History
The dividend of BSM has a limited annual growth rate of 1.14%.
BSM has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)1.14%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
140.90% of the earnings are spent on dividend by BSM. This is not a sustainable payout ratio.
The dividend of BSM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP140.9%
EPS Next 2Y2.23%
EPS Next 3Y3.98%
NYSE:BSM (10/17/2025, 1:58:50 PM)
12.46
-0.02 (-0.16%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners14.15%
Inst Owner Change0.02%
Ins Owners17.81%
Ins Owner Change1.16%
Market Cap2.64B
Analysts72.5
Price Target15.3 (22.79%)
Short Float %1.95%
Short Ratio6.19
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.12% |
Yearly Dividend1.68
Dividend Growth(5Y)1.14%
DP140.9%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-11.38%
Min EPS beat(2)-93.88%
Max EPS beat(2)71.11%
EPS beat(4)2
Avg EPS beat(4)-14.95%
Min EPS beat(4)-93.88%
Max EPS beat(4)71.11%
EPS beat(8)3
Avg EPS beat(8)-13.88%
EPS beat(12)6
Avg EPS beat(12)7.9%
EPS beat(16)8
Avg EPS beat(16)11.11%
Revenue beat(2)0
Avg Revenue beat(2)-3.32%
Min Revenue beat(2)-3.91%
Max Revenue beat(2)-2.74%
Revenue beat(4)0
Avg Revenue beat(4)-11.26%
Min Revenue beat(4)-25.2%
Max Revenue beat(4)-2.74%
Revenue beat(8)1
Avg Revenue beat(8)-3.89%
Revenue beat(12)3
Avg Revenue beat(12)2.18%
Revenue beat(16)5
Avg Revenue beat(16)1.03%
PT rev (1m)0%
PT rev (3m)-3.23%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-17.65%
EPS NY rev (1m)3.72%
EPS NY rev (3m)7.89%
Revenue NQ rev (1m)-4.37%
Revenue NQ rev (3m)-12.96%
Revenue NY rev (1m)-3.49%
Revenue NY rev (3m)-7.11%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.93 | ||
| Fwd PE | 10.37 | ||
| P/S | 6.04 | ||
| P/FCF | 11.83 | ||
| P/OCF | 8.01 | ||
| P/B | 2.39 | ||
| P/tB | 2.39 | ||
| EV/EBITDA | 8.55 |
EPS(TTM)1.14
EY9.15%
EPS(NY)1.2
Fwd EY9.65%
FCF(TTM)1.05
FCFY8.45%
OCF(TTM)1.56
OCFY12.48%
SpS2.06
BVpS5.2
TBVpS5.2
PEG (NY)N/A
PEG (5Y)2.18
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.37% | ||
| ROE | 22.27% | ||
| ROCE | 22.61% | ||
| ROIC | 17.86% | ||
| ROICexc | 17.9% | ||
| ROICexgc | 17.9% | ||
| OM | 64.04% | ||
| PM (TTM) | 56.16% | ||
| GM | 88.08% | ||
| FCFM | 51.03% |
ROA(3y)29.1%
ROA(5y)21.66%
ROE(3y)30.66%
ROE(5y)23.33%
ROIC(3y)25.28%
ROIC(5y)19.74%
ROICexc(3y)25.87%
ROICexc(5y)20.12%
ROICexgc(3y)25.87%
ROICexgc(5y)20.12%
ROCE(3y)32%
ROCE(5y)24.99%
ROICexcg growth 3Y13.21%
ROICexcg growth 5Y8.09%
ROICexc growth 3Y13.21%
ROICexc growth 5Y8.09%
OM growth 3Y7.06%
OM growth 5Y5.48%
PM growth 3Y7.56%
PM growth 5Y7.06%
GM growth 3Y1.53%
GM growth 5Y0.56%
F-Score5
Asset Turnover0.34
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | 0.44 | ||
| Debt/EBITDA | 0.31 | ||
| Cap/Depr | 262.5% | ||
| Cap/Sales | 24.32% | ||
| Interest Coverage | 66.99 | ||
| Cash Conversion | 102.78% | ||
| Profit Quality | 90.86% | ||
| Current Ratio | 3.22 | ||
| Quick Ratio | 3.22 | ||
| Altman-Z | N/A |
F-Score5
WACC8.71%
ROIC/WACC2.05
Cap/Depr(3y)108.08%
Cap/Depr(5y)70.81%
Cap/Sales(3y)10.59%
Cap/Sales(5y)7.45%
Profit Quality(3y)109.65%
Profit Quality(5y)150.85%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.97%
EPS 3Y13.82%
EPS 5Y5.02%
EPS Q2Q%82.76%
EPS Next Y-1.93%
EPS Next 2Y2.23%
EPS Next 3Y3.98%
EPS Next 5YN/A
Revenue 1Y (TTM)-15.21%
Revenue growth 3Y6.47%
Revenue growth 5Y-2.32%
Sales Q2Q%-7.35%
Revenue Next Year-4%
Revenue Next 2Y1.75%
Revenue Next 3Y4.12%
Revenue Next 5YN/A
EBIT growth 1Y-18.1%
EBIT growth 3Y13.99%
EBIT growth 5Y3.03%
EBIT Next Year6.92%
EBIT Next 3Y9.85%
EBIT Next 5YN/A
FCF growth 1Y-57.91%
FCF growth 3Y4.19%
FCF growth 5Y-1.89%
OCF growth 1Y-38.44%
OCF growth 3Y14.84%
OCF growth 5Y-1.17%