BLACK STONE MINERALS LP (BSM)
US09225M1018
Taking everything into account, BSM scores 6 out of 10 in our fundamental rating. BSM was compared to 214 industry peers in the Oil, Gas & Consumable Fuels industry. BSM gets an excellent profitability rating and is at the same time showing great financial health properties. 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.
BSM had positive earnings in each of the past 5 years.
Each year in the past 5 years BSM had a positive operating cash flow.
1.2 Ratios
BSM has a Return On Assets of 31.63%. This is amongst the best in the industry. BSM outperforms 92.96% of its industry peers.
With a decent Return On Equity value of 32.92%, BSM is doing good in the industry, outperforming 78.40% of the companies in the same industry.
BSM has a Return On Invested Capital of 26.96%. This is amongst the best in the industry. BSM outperforms 91.55% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BSM is significantly below the industry average of 45.92%.
The 3 year average ROIC (23.38%) for BSM is below the current ROIC(26.96%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 31.63% | ||
| ROE | 32.92% | ||
| ROIC | 26.96% |
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 has a Profit Margin of 67.66%. This is amongst the best in the industry. BSM outperforms 91.08% of its industry peers.
BSM's Profit Margin has improved in the last couple of years.
BSM has a better Operating Margin (71.51%) than 92.49% of its industry peers.
In the last couple of years the Operating Margin of BSM has grown nicely.
The Gross Margin of BSM (88.44%) is better than 93.43% 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 | 71.51% | ||
| PM (TTM) | 67.66% | ||
| GM | 88.44% |
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
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 more shares outstanding than it did 1 year ago.
BSM has more shares outstanding than it did 5 years ago.
BSM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the 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/WACC2.88
WACC9.37%
2.3 Liquidity
A Current Ratio of 7.48 indicates that BSM has no problem at all paying its short term obligations.
BSM has a Current ratio of 7.48. This is amongst the best in the industry. BSM outperforms 92.96% of its industry peers.
A Quick Ratio of 7.48 indicates that BSM has no problem at all paying its short term obligations.
BSM has a better Quick ratio (7.48) than 92.96% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 7.48 | ||
| Quick Ratio | 7.48 |
3. Growth
3.1 Past
BSM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -10.95%.
BSM shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.32% yearly.
BSM shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -10.75%.
Measured over the past years, BSM shows a decrease in Revenue. The Revenue has been decreasing by -0.58% on average per year.
EPS 1Y (TTM)-10.95%
EPS 3Y73.19%
EPS 5Y0.32%
EPS growth Q2Q-20.73%
Revenue 1Y (TTM)-10.75%
Revenue growth 3Y19.99%
Revenue growth 5Y-0.58%
Revenue growth Q2Q-17.17%
3.2 Future
BSM is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -9.10% yearly.
Based on estimates for the next years, BSM will show a small growth in Revenue. The Revenue will grow by 0.92% on average per year.
EPS Next Y-22.58%
EPS Next 2Y-9.1%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-6.04%
Revenue Next 2Y0.92%
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.
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
With a Price/Earnings ratio of 8.61, the valuation of BSM can be described as very reasonable.
Based on the Price/Earnings ratio, BSM is valued a bit cheaper than 66.20% of the companies in the same industry.
When comparing the Price/Earnings ratio of BSM to the average of the S&P500 Index (24.92), we can say BSM is valued rather cheaply.
BSM is valuated reasonably with a Price/Forward Earnings ratio of 11.12.
BSM's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BSM is cheaper than 61.97% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of BSM to the average of the S&P500 Index (21.49), we can say BSM is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.61 | ||
| Fwd PE | 11.12 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as BSM.
77.00% of the companies in the same industry are more expensive than BSM, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.75 | ||
| EV/EBITDA | 7.07 |
4.3 Compensation for Growth
BSM has an outstanding profitability rating, which may justify a higher PE ratio.
BSM's earnings are expected to decrease with -9.10% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)26.57
EPS Next 2Y-9.1%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BSM has a Yearly Dividend Yield of 9.32%, which is a nice return.
Compared to an average industry Dividend Yield of 5.75, BSM pays a better dividend. On top of this BSM pays more dividend than 89.20% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.41, BSM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.32% |
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
104.77% of the earnings are spent on dividend by BSM. 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.
DP104.77%
EPS Next 2Y-9.1%
EPS Next 3YN/A
BLACK STONE MINERALS LP
NYSE:BSM (4/26/2024, 7:04:01 PM)
After market: 16.4015 +0.3 (+1.87%)16.1
+0.01 (+0.06%)
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 Cap3.39B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.32% |
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)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
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)
Avg Revenue beat(4)
Min Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
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 | 8.61 | ||
| Fwd PE | 11.12 | ||
| 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)26.57
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 31.63% | ||
| ROE | 32.92% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 71.51% | ||
| PM (TTM) | 67.66% | ||
| GM | 88.44% | ||
| 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 Turnover0.47
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 7.48 | ||
| Quick Ratio | 7.48 | ||
| 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)
Growth
EPS 1Y (TTM)-10.95%
EPS 3Y73.19%
EPS 5Y
EPS growth Q2Q
EPS Next Y-22.58%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-10.75%
Revenue growth 3Y19.99%
Revenue growth 5Y
Revenue growth 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