BLACK STONE MINERALS LP (BSM) Stock Fundamental Analysis
NYSE:BSM - New York Stock Exchange, Inc. - US09225M1018 - Currency: USD
Overall BSM gets a fundamental rating of 7 out of 10. We evaluated BSM against 212 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 on the other hand it scores bad on growth. BSM also has an excellent dividend rating. These ratings would make BSM suitable for dividend investing!
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.
In the past 5 years BSM has always 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 19.84%, BSM belongs to the best of the industry, outperforming 93.87% of the companies in the same industry.
The Return On Equity of BSM (21.41%) is better than 81.60% of its industry peers.
Looking at the Return On Invested Capital, with a value of 18.15%, BSM belongs to the top of the industry, outperforming 92.45% of the companies in the same industry.
BSM had an Average Return On Invested Capital over the past 3 years of 25.28%. This is in line with the industry average of 25.75%.
The last Return On Invested Capital (18.15%) 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 | 19.84% | ||
| ROE | 21.41% | ||
| ROIC | 18.15% |
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
Looking at the Profit Margin, with a value of 55.77%, BSM belongs to the top of the industry, outperforming 93.87% of the companies in the same industry.
In the last couple of years the Profit Margin of BSM has grown nicely.
BSM's Operating Margin of 62.97% is amongst the best of the industry. BSM outperforms 93.87% of its industry peers.
BSM's Operating Margin has improved in the last couple of years.
BSM has a better Gross Margin (86.33%) than 92.92% of its industry peers.
BSM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 62.97% | ||
| PM (TTM) | 55.77% | ||
| GM | 86.33% |
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.
Compared to 5 years ago, BSM has more shares outstanding
The debt/assets ratio for BSM is higher compared to a year ago.
2.2 Solvency
BSM has a debt to FCF ratio of 0.09. This is a very positive value and a sign of high solvency as it would only need 0.09 years to pay back of all of its debts.
BSM has a better Debt to FCF ratio (0.09) than 92.45% of its industry peers.
BSM has a Debt/Equity ratio of 0.02. This is a healthy value indicating a solid balance between debt and equity.
BSM has a Debt to Equity ratio of 0.02. This is amongst the best in the industry. BSM outperforms 82.55% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.02 | ||
| Debt/FCF | 0.09 | ||
| Altman-Z | N/A |
ROIC/WACC1.77
WACC10.27%
2.3 Liquidity
BSM has a Current Ratio of 2.58. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
BSM's Current ratio of 2.58 is amongst the best of the industry. BSM outperforms 80.66% of its industry peers.
BSM has a Quick Ratio of 2.58. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
BSM has a better Quick ratio (2.58) than 82.08% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.58 | ||
| Quick Ratio | 2.58 |
3. Growth
3.1 Past
BSM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.50%.
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.
The Revenue for BSM has decreased by -26.77% in the past year. This is quite bad
The Revenue has been decreasing by -2.32% on average over the past years.
EPS 1Y (TTM)-38.5%
EPS 3Y13.82%
EPS 5Y5.02%
EPS Q2Q%-72.31%
Revenue 1Y (TTM)-26.77%
Revenue growth 3Y6.47%
Revenue growth 5Y-2.32%
Sales Q2Q%-56.13%
3.2 Future
BSM is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.54% yearly.
BSM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.86% yearly.
EPS Next Y17.39%
EPS Next 2Y11.54%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year5.58%
Revenue Next 2Y6.86%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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
A Price/Earnings ratio of 12.54 indicates a correct valuation of BSM.
BSM's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 28.88. BSM is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 10.68, the valuation of BSM can be described as very reasonable.
Based on the Price/Forward Earnings ratio, BSM is valued a bit cheaper than 61.79% of the companies in the same industry.
BSM is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 21.20, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.54 | ||
| Fwd PE | 10.68 |
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 67.92% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.11 | ||
| EV/EBITDA | 9.43 |
4.3 Compensation for Growth
BSM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BSM has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.72
PEG (5Y)2.5
EPS Next 2Y11.54%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 10.41%, BSM is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.31, BSM pays a better dividend. On top of this BSM pays more dividend than 88.21% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.45, BSM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.41% |
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.
BSM has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.14%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
BSM pays out 150.94% of its income as dividend. This is not a sustainable payout ratio.
The dividend of BSM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP150.94%
EPS Next 2Y11.54%
EPS Next 3YN/A
NYSE:BSM (5/1/2025, 10:44:08 AM)
14.42
+0.31 (+2.2%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners13.69%
Inst Owner Change0.57%
Ins Owners18.61%
Ins Owner Change5.02%
Market Cap3.04B
Analysts72.5
Price Target16.83 (16.71%)
Short Float %1.28%
Short Ratio4.61
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.41% |
Yearly Dividend1.68
Dividend Growth(5Y)1.14%
DP150.94%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-18.52%
Min EPS beat(2)-51.4%
Max EPS beat(2)14.35%
EPS beat(4)1
Avg EPS beat(4)-20.22%
Min EPS beat(4)-51.4%
Max EPS beat(4)14.35%
EPS beat(8)3
Avg EPS beat(8)-8.51%
EPS beat(12)6
Avg EPS beat(12)4.58%
EPS beat(16)7
Avg EPS beat(16)6.36%
Revenue beat(2)0
Avg Revenue beat(2)-19.19%
Min Revenue beat(2)-25.2%
Max Revenue beat(2)-13.18%
Revenue beat(4)0
Avg Revenue beat(4)-11.74%
Min Revenue beat(4)-25.2%
Max Revenue beat(4)-3.91%
Revenue beat(8)1
Avg Revenue beat(8)-6.03%
Revenue beat(12)4
Avg Revenue beat(12)-1.65%
Revenue beat(16)5
Avg Revenue beat(16)-1.79%
PT rev (1m)0%
PT rev (3m)17.86%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-4.76%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.42%
Revenue NQ rev (1m)0.39%
Revenue NQ rev (3m)2.02%
Revenue NY rev (1m)-0.55%
Revenue NY rev (3m)1.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.54 | ||
| Fwd PE | 10.68 | ||
| P/S | 7.02 | ||
| P/FCF | 11.11 | ||
| P/OCF | 7.83 | ||
| P/B | 2.7 | ||
| P/tB | 2.7 | ||
| EV/EBITDA | 9.43 |
EPS(TTM)1.15
EY7.98%
EPS(NY)1.35
Fwd EY9.36%
FCF(TTM)1.3
FCFY9%
OCF(TTM)1.84
OCFY12.78%
SpS2.05
BVpS5.35
TBVpS5.35
PEG (NY)0.72
PEG (5Y)2.5
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.84% | ||
| ROE | 21.41% | ||
| ROCE | 22.98% | ||
| ROIC | 18.15% | ||
| ROICexc | 18.19% | ||
| ROICexgc | 18.19% | ||
| OM | 62.97% | ||
| PM (TTM) | 55.77% | ||
| GM | 86.33% | ||
| FCFM | 63.18% |
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-Score4
Asset Turnover0.36
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.02 | ||
| Debt/FCF | 0.09 | ||
| Debt/EBITDA | 0.08 | ||
| Cap/Depr | 254.52% | ||
| Cap/Sales | 26.52% | ||
| Interest Coverage | 139.27 | ||
| Cash Conversion | 122.22% | ||
| Profit Quality | 113.29% | ||
| Current Ratio | 2.58 | ||
| Quick Ratio | 2.58 | ||
| Altman-Z | N/A |
F-Score4
WACC10.27%
ROIC/WACC1.77
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)-38.5%
EPS 3Y13.82%
EPS 5Y5.02%
EPS Q2Q%-72.31%
EPS Next Y17.39%
EPS Next 2Y11.54%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-26.77%
Revenue growth 3Y6.47%
Revenue growth 5Y-2.32%
Sales Q2Q%-56.13%
Revenue Next Year5.58%
Revenue Next 2Y6.86%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-35.51%
EBIT growth 3Y13.99%
EBIT growth 5Y3.03%
EBIT Next Year24.4%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-45.35%
FCF growth 3Y4.19%
FCF growth 5Y-1.89%
OCF growth 1Y-25.36%
OCF growth 3Y14.84%
OCF growth 5Y-1.17%