BLACK STONE MINERALS LP (BSM) Stock Fundamental Analysis
NYSE:BSM - US09225M1018
11.79 USD
-0.16 (-1.34%)
BSM gets a fundamental rating of 7 out of 10. The analysis compared the fundamentals against 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.
In the past year BSM had a positive cash flow from operations.
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
The Return On Assets of BSM (19.37%) is better than 95.71% of its industry peers.
Looking at the Return On Equity, with a value of 22.27%, BSM belongs to the top of the industry, outperforming 88.10% of the companies in the same industry.
BSM's Return On Invested Capital of 17.86% is amongst the best of the industry. BSM outperforms 94.29% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BSM is above the industry average of 21.91%.
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 Profit Margin of 56.16%. This is amongst the best in the industry. BSM outperforms 93.81% of its industry peers.
BSM's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 64.04%, BSM belongs to the top of the industry, outperforming 94.76% of the companies in the same industry.
In the last couple of years the Operating Margin of BSM has grown nicely.
With an excellent Gross Margin value of 88.08%, BSM belongs to the best of the industry, outperforming 94.76% of the companies in the same industry.
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.
Compared to 1 year ago, BSM has less shares outstanding
Compared to 5 years ago, BSM has more shares outstanding
Compared to 1 year ago, BSM has a worse debt to assets ratio.
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.
BSM has a better Debt to FCF ratio (0.44) than 91.90% of its industry peers.
A Debt/Equity ratio of 0.09 indicates that BSM is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.09, BSM is doing good in 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/WACC2.04
WACC8.76%
2.3 Liquidity
A Current Ratio of 3.22 indicates that BSM has no problem at all paying its short term obligations.
BSM has a Current ratio of 3.22. This is amongst the best in the industry. BSM outperforms 85.71% of its industry peers.
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 86.67% 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.
The Earnings Per Share has been growing slightly by 5.02% on average over the past years.
BSM shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -15.21%.
The Revenue has been decreasing by -2.32% on average over the past years.
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
Based on estimates for the next years, BSM will show a small growth in Earnings Per Share. The EPS will grow by 7.89% on average per year.
The Revenue is expected to grow by 5.74% on average over the next years.
EPS Next Y-5.44%
EPS Next 2Y7.54%
EPS Next 3Y7.89%
EPS Next 5YN/A
Revenue Next Year1.9%
Revenue Next 2Y8.1%
Revenue Next 3Y5.74%
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.
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 10.34 indicates a reasonable valuation of BSM.
BSM's Price/Earnings ratio is a bit cheaper when compared to the industry. BSM is cheaper than 74.76% of the companies in the same industry.
BSM is valuated cheaply when we compare the Price/Earnings ratio to 27.02, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 8.87 indicates a reasonable valuation of BSM.
Based on the Price/Forward Earnings ratio, BSM is valued a bit cheaper than 74.76% of the companies in the same industry.
BSM is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.66, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.34 | ||
| Fwd PE | 8.87 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BSM is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, BSM is valued a bit cheaper than 70.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.19 | ||
| EV/EBITDA | 8.2 |
4.3 Compensation for Growth
BSM has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.06
EPS Next 2Y7.54%
EPS Next 3Y7.89%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 9.88%, BSM is a good candidate for dividend investing.
BSM's Dividend Yield is rather good when compared to the industry average which is at 6.02. BSM pays more dividend than 89.52% of the companies in the same industry.
BSM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.88% |
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.
BSM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP140.9%
EPS Next 2Y7.54%
EPS Next 3Y7.89%
NYSE:BSM (9/8/2025, 12:20:30 PM)
11.79
-0.16 (-1.34%)
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 Change0.8%
Market Cap2.50B
Analysts72.5
Price Target15.3 (29.77%)
Short Float %1.77%
Short Ratio5.21
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.88% |
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)-6.25%
EPS NQ rev (1m)-10%
EPS NQ rev (3m)-14.29%
EPS NY rev (1m)4.03%
EPS NY rev (3m)-13.64%
Revenue NQ rev (1m)-2.3%
Revenue NQ rev (3m)-4.99%
Revenue NY rev (1m)-0.44%
Revenue NY rev (3m)-1.96%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.34 | ||
| Fwd PE | 8.87 | ||
| P/S | 5.71 | ||
| P/FCF | 11.19 | ||
| P/OCF | 7.58 | ||
| P/B | 2.27 | ||
| P/tB | 2.27 | ||
| EV/EBITDA | 8.2 |
EPS(TTM)1.14
EY9.67%
EPS(NY)1.33
Fwd EY11.28%
FCF(TTM)1.05
FCFY8.93%
OCF(TTM)1.56
OCFY13.19%
SpS2.06
BVpS5.2
TBVpS5.2
PEG (NY)N/A
PEG (5Y)2.06
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
WACC8.76%
ROIC/WACC2.04
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 Year1.9%
Revenue Next 2Y8.1%
Revenue Next 3Y5.74%
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%