BLACK STONE MINERALS LP (BSM)
US09225M1018
BSM gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 210 industry peers in the Oil, Gas & Consumable Fuels industry. BSM scores excellent points on both the profitability and health parts. This is a solid base for a good stock. BSM is valued correctly, 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.
BSM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BSM's Return On Assets of 26.64% is amongst the best of the industry. BSM outperforms 94.76% of its industry peers.
With a decent Return On Equity value of 27.90%, BSM is doing good in the industry, outperforming 79.05% of the companies in the same industry.
BSM has a Return On Invested Capital of 23.11%. This is amongst the best in the industry. BSM outperforms 93.81% of its industry peers.
BSM had an Average Return On Invested Capital over the past 3 years of 23.38%. This is significantly below the industry average of 30.77%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.64% | ||
| ROE | 27.9% | ||
| ROIC | 23.11% |
ROA(3y)26.79%
ROA(5y)20.2%
ROE(3y)28.57%
ROE(5y)22.57%
ROIC(3y)23.38%
ROIC(5y)18.57%
1.3 Margins
BSM's Profit Margin of 62.71% is amongst the best of the industry. BSM outperforms 91.43% of its industry peers.
In the last couple of years the Profit Margin of BSM has grown nicely.
BSM has a better Operating Margin (67.34%) than 92.86% of its industry peers.
BSM's Operating Margin has improved in the last couple of years.
BSM has a Gross Margin of 86.90%. This is amongst the best in the industry. BSM outperforms 91.90% of its industry peers.
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 | 67.34% | ||
| PM (TTM) | 62.71% | ||
| GM | 86.9% |
OM growth 3Y15.5%
OM growth 5Y6.49%
PM growth 3Y32.03%
PM growth 5Y8.49%
GM growth 3Y2.05%
GM growth 5Y0.47%
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 more shares outstanding
The number of shares outstanding for BSM has been increased compared to 5 years ago.
There is no outstanding debt for BSM. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
There is no outstanding debt for BSM. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | N/A |
ROIC/WACC2.58
WACC8.94%
2.3 Liquidity
BSM has a Current Ratio of 5.34. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
BSM has a Current ratio of 5.34. This is amongst the best in the industry. BSM outperforms 89.52% of its industry peers.
A Quick Ratio of 5.34 indicates that BSM has no problem at all paying its short term obligations.
BSM's Quick ratio of 5.34 is amongst the best of the industry. BSM outperforms 89.52% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.34 | ||
| Quick Ratio | 5.34 |
3. Growth
3.1 Past
The earnings per share for BSM have decreased strongly by -44.20% 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 0.32% on average per year.
The Revenue for BSM has decreased by -34.76% in the past year. This is quite bad
The Revenue has been decreasing by -0.58% on average over the past years.
EPS 1Y (TTM)-44.2%
EPS 3Y73.19%
EPS 5Y0.32%
EPS Q2Q%-55%
Revenue 1Y (TTM)-34.76%
Revenue growth 3Y19.99%
Revenue growth 5Y-0.58%
Sales Q2Q%-4.52%
3.2 Future
BSM is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -8.60% yearly.
BSM is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.98% yearly.
EPS Next Y-24.93%
EPS Next 2Y-8.6%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-6.46%
Revenue Next 2Y0.98%
Revenue Next 3YN/A
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
The Price/Earnings ratio is 9.99, which indicates a very decent valuation of BSM.
BSM's Price/Earnings ratio is a bit cheaper when compared to the industry. BSM is cheaper than 66.19% of the companies in the same industry.
BSM is valuated cheaply when we compare the Price/Earnings ratio to 24.41, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 9.85 indicates a reasonable valuation of BSM.
BSM's Price/Forward Earnings ratio is in line with the industry average.
BSM's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 20.59.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.99 | ||
| Fwd PE | 9.85 |
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 78.10% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.26 | ||
| EV/EBITDA | 8.01 |
4.3 Compensation for Growth
The excellent profitability rating of BSM may justify a higher PE ratio.
BSM's earnings are expected to decrease with -8.60% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)30.83
EPS Next 2Y-8.6%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 9.53%, BSM is a good candidate for dividend investing.
BSM's Dividend Yield is rather good when compared to the industry average which is at 5.93. BSM pays more dividend than 86.67% of the companies in the same industry.
BSM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.30.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.53% |
5.2 History
The dividend of BSM is nicely growing with an annual growth rate of 7.76%!
BSM has been paying a dividend for at least 10 years, so it has a reliable track record.
BSM has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)7.76%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
BSM pays out 128.28% of its income as dividend. This is not a sustainable payout ratio.
BSM's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP128.28%
EPS Next 2Y-8.6%
EPS Next 3YN/A
BLACK STONE MINERALS LP
NYSE:BSM (7/26/2024, 7:20:11 PM)
After market: 15.33 -0.05 (-0.33%)15.38
+0.04 (+0.26%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap3.24B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.53% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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Min EPS beat(4)
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EPS beat(8)
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EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.99 | ||
| Fwd PE | 9.85 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)30.83
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 26.64% | ||
| ROE | 27.9% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 67.34% | ||
| PM (TTM) | 62.71% | ||
| GM | 86.9% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.42
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 5.34 | ||
| Quick Ratio | 5.34 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-44.2%
EPS 3Y73.19%
EPS 5Y
EPS Q2Q%
EPS Next Y-24.93%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-34.76%
Revenue growth 3Y19.99%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y