BLACK STONE MINERALS LP (BSM) Stock Fundamental Analysis
USA - NYSE:BSM - US09225M1018
12.92 USD
-0.03 (-0.23%)
13.03 USD
+0.11 (+0.85%)
Taking everything into account, BSM scores 7 out of 10 in our fundamental rating. BSM was compared to 210 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 has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
BSM had positive earnings in the past year.
BSM had a positive operating cash flow in the past year.
Each year in the past 5 years BSM has been profitable.
In the past 5 years BSM always reported a positive cash flow from operatings.
1.2 Ratios
With an excellent Return On Assets value of 19.37%, BSM belongs to the best of the industry, outperforming 95.71% of the companies in the same industry.
BSM has a Return On Equity of 22.27%. This is amongst the best in the industry. BSM outperforms 88.10% of its industry peers.
BSM has a Return On Invested Capital of 17.86%. This is amongst the best in the industry. BSM outperforms 94.29% of its industry peers.
BSM had an Average Return On Invested Capital over the past 3 years of 25.28%. This is above the industry average of 21.71%.
The last Return On Invested Capital (17.86%) for BSM is well below the 3 year average (25.28%), which needs to be investigated, but indicates that BSM had better years and this may not be a problem.
| 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
BSM has a better Profit Margin (56.16%) than 94.29% 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 94.76% of its industry peers.
BSM's Operating Margin has improved in the last couple of years.
BSM's Gross Margin of 88.08% is amongst the best of the industry. BSM outperforms 94.76% of its industry peers.
BSM's Gross Margin has been stable in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), BSM is creating value.
The number of shares outstanding for BSM has been reduced compared to 1 year ago.
The number of shares outstanding for BSM has been increased compared to 5 years ago.
The debt/assets ratio for BSM is higher compared to a year ago.
2.2 Solvency
The Debt to FCF ratio of BSM is 0.44, which is an excellent value as it means it would take BSM, only 0.44 years of fcf income to pay off all of its debts.
With an excellent Debt to FCF ratio value of 0.44, BSM belongs to the best of the industry, outperforming 91.43% of the companies in the same industry.
BSM has a Debt/Equity ratio of 0.09. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.09, BSM is in the better half of the industry, outperforming 77.14% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.09 | ||
| Debt/FCF | 0.44 | ||
| Altman-Z | N/A |
ROIC/WACC2.03
WACC8.8%
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 86.19% 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 has a Quick ratio of 3.22. This is amongst the best in the industry. BSM outperforms 87.62% 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.
Measured over the past 5 years, BSM shows a small growth in Earnings Per Share. The EPS has been growing by 5.02% on average per year.
BSM shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -15.21%.
BSM shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -2.32% yearly.
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
BSM is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.89% yearly.
Based on estimates for the next years, BSM will show a small growth in Revenue. The Revenue will grow by 4.42% on average per year.
EPS Next Y-5.44%
EPS Next 2Y7.54%
EPS Next 3Y7.89%
EPS Next 5YN/A
Revenue Next Year-0.53%
Revenue Next 2Y3.07%
Revenue Next 3Y4.42%
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 accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 11.33 indicates a reasonable valuation of BSM.
Based on the Price/Earnings ratio, BSM is valued a bit cheaper than 71.43% of the companies in the same industry.
BSM is valuated cheaply when we compare the Price/Earnings ratio to 27.41, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 9.72 indicates a reasonable valuation of BSM.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BSM indicates a somewhat cheap valuation: BSM is cheaper than 70.48% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.87, BSM is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.33 | ||
| Fwd PE | 9.72 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as BSM.
BSM's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. BSM is cheaper than 68.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 12.27 | ||
| EV/EBITDA | 8.84 |
4.3 Compensation for Growth
The excellent profitability rating of BSM may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.26
EPS Next 2Y7.54%
EPS Next 3Y7.89%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 9.26%, BSM is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 6.00, BSM pays a better dividend. On top of this BSM pays more dividend than 87.62% of the companies listed 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 | 9.26% |
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 2Y7.54%
EPS Next 3Y7.89%
12.92
-0.03 (-0.23%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners14.04%
Inst Owner Change40.76%
Ins Owners17.76%
Ins Owner Change1.15%
Market Cap2.74B
Analysts72.5
Price Target15.3 (18.42%)
Short Float %2.02%
Short Ratio6.09
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.26% |
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)-3.23%
PT rev (3m)-3.23%
EPS NQ rev (1m)-9.68%
EPS NQ rev (3m)-16%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.28%
Revenue NQ rev (1m)-7.48%
Revenue NQ rev (3m)-8.8%
Revenue NY rev (1m)-2.38%
Revenue NY rev (3m)-3.95%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.33 | ||
| Fwd PE | 9.72 | ||
| P/S | 6.26 | ||
| P/FCF | 12.27 | ||
| P/OCF | 8.31 | ||
| P/B | 2.48 | ||
| P/tB | 2.48 | ||
| EV/EBITDA | 8.84 |
EPS(TTM)1.14
EY8.82%
EPS(NY)1.33
Fwd EY10.29%
FCF(TTM)1.05
FCFY8.15%
OCF(TTM)1.56
OCFY12.04%
SpS2.06
BVpS5.2
TBVpS5.2
PEG (NY)N/A
PEG (5Y)2.26
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
WACC8.8%
ROIC/WACC2.03
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-5.44%
EPS Next 2Y7.54%
EPS Next 3Y7.89%
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-0.53%
Revenue Next 2Y3.07%
Revenue Next 3Y4.42%
Revenue Next 5YN/A
EBIT growth 1Y-18.1%
EBIT growth 3Y13.99%
EBIT growth 5Y3.03%
EBIT Next Year16.67%
EBIT Next 3Y12.31%
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%