Friday 6 November 2026 Export BSM’s income statement to Excel — free account

Black Stone Minerals, L.P.

Black Stone Minerals, L.P.’s revenue for fiscal 2025 (year ended December 2025) was $469.9 million, up 8.35% from fiscal 2024.

Revenue: −24.7%
EPS: −38.5%
Free cash flow: −4.44%
Total debt: +105.3%

Quarter to September 2026, against a year earlier

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13.88 0.12 −0.86%

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Market cap: $3.1B
P/E: 13.6×
Fwd P/E: 15.4×
Dividend yield: 8.84%
F-score: 6/9
Altman Z: n/a
Beneish M: −2.72
Dividend safety: 20/100

Overview

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	5	7	7	5	4	6	6	5	3	6
P/E ratio Full definition →	212.00	18.69	10.68	13.25	13.92	13.42	7.26	8.37	12.59	10.38
P/S ratio Full definition →	13.99	8.06	5.13	5.37	4.03	5.99	4.97	5.67	7.09	5.99
P/FCF ratio Full definition →	31.38	13.67	9.05	6.43	3.19	8.51	7.78	6.51	7.96	9.41
Beneish M-Score Full definition →	(3.09)	(2.38)	(1.90)	(3.56)	(3.15)	(2.16)	(1.26)	(3.17)	(3.53)	(2.72)
P/Operating CF Full definition →	66.22	49.33	32.72	24.62	22.86	29.28	21.09	25.03	33.82	43.21
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	20
P/B ratio Full definition →	5.43	4.51	3.46	3.28	1.82	2.81	3.62	3.66	3.71	3.40
Price to Tangible BV Full definition →	5.43	4.51	3.46	3.28	1.82	2.81	3.62	3.66	3.71	3.40
EV/Sales Full definition →	15.16	8.95	5.80	6.16	4.38	6.21	4.98	5.57	7.14	6.31
EV/EBITDA Full definition →	30.23	13.37	8.00	8.69	6.97	8.93	6.21	7.01	9.70	8.56
EV/Operating CF Full definition →	20.11	13.64	9.17	7.28	5.32	8.68	7.78	6.33	7.96	9.56
EV/FCF Full definition →	34.02	15.18	10.22	7.38	3.46	8.83	7.80	6.39	8.02	9.92
Quick Ratio Full definition →	1.09	1.45	1.83	2.90	1.59	1.37	4.56	5.90	2.42	2.72
Current Ratio Full definition →	1.11	1.47	2.43	3.43	1.67	1.40	5.64	7.48	2.58	3.88
Net Debt/EBITDA Full definition →	2.34	1.33	0.92	1.12	0.55	0.32	0.01	(0.15)	0.07	0.44
Debt/Assets Full definition →	27.99%	24.61%	23.43%	25.50%	9.73%	7.13%	0.79%	0.00%	2.05%	11.53%
Debt/Equity Full definition →	0.44	0.36	0.34	0.36	0.11	0.08	0.01	0.00	0.02	0.14
Asset Turnover Full definition →	0.24	0.32	0.37	0.30	0.25	0.29	0.53	0.47	0.35	0.37
Operating CF/Net income Full definition →	13.62	1.85	1.40	2.13	2.80	1.60	0.93	1.30	1.61	1.15
Capex/Depreciation Full definition →	(0.78)	(0.25)	(0.32)	(0.05)	1.82	(0.07)	(0.02)	(0.11)	(0.06)	(0.30)
Interest Coverage Full definition →	3.64	10.97	15.34	10.97	12.69	33.23	76.76	153.81	87.84	34.53
ROE Full definition →	1.92%	21.13%	32.83%	22.71%	12.93%	21.10%	54.33%	43.81%	27.69%	32.65%
ROA Full definition →	1.32%	11.25%	16.50%	11.74%	7.23%	12.92%	36.16%	31.58%	19.46%	21.18%
ROIC Full definition →	1.66%	7.30%	12.38%	9.91%	7.01%	10.24%	24.81%	23.08%	14.82%	15.05%
Return on Tangible Assets Full definition →	1.37%	10.08%	16.45%	12.83%	8.41%	13.83%	37.00%	32.51%	20.46%	20.87%
Average Days of Receivables Full definition →	95.41	68.55	67.75	58.52	65.93	98.69	74.64	50.69	59.83	50.93
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	49.07%	33.27%	27.47%	29.10%	29.32%	31.37%	19.96%	20.60%	26.31%	26.23%
Intangible Assets out of Total Assets Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	16.54%	7.69%	4.94%	4.20%	1.09%	3.40%	2.62%	1.83%	1.97%	2.05%
Graham Net Nets Full definition →	(0.09)	(0.11)	(0.12)	(0.13)	(0.09)	(0.04)	0.03	0.04	0.00	(0.04)
Graham Number Full definition →	2.67	9.29	12.08	9.15	6.30	7.98	14.58	13.71	10.13	10.61
Earnings Yield Full definition →	0.47%	5.35%	9.37%	7.55%	7.19%	7.45%	13.77%	11.94%	7.95%	9.63%
Free Cash Flow Yield Full definition →	3.19%	7.32%	11.05%	15.54%	31.36%	11.75%	12.85%	15.37%	12.56%	10.63%
Revenue per Share Full definition →	1.36	2.23	3.02	2.37	1.66	1.73	3.17	2.82	2.06	2.22
Operating CF per Share Full definition →	1.03	1.46	1.91	2.00	1.36	1.23	2.03	2.48	1.85	1.47
Capex per Share Full definition →	(0.42)	(0.15)	(0.20)	(0.03)	0.73	(0.02)	(0.01)	(0.02)	(0.01)	(0.05)
Free Cash Flow per Share Full definition →	0.61	1.32	1.71	1.98	2.10	1.21	2.02	2.46	1.83	1.41
Cash per Share Full definition →	0.05	0.03	0.03	0.04	0.01	0.04	0.02	0.33	0.01	0.01
Shareholders Equity per Share Full definition →	3.80	5.66	5.95	5.33	5.12	5.11	5.78	5.80	5.36	5.33
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	3.80	5.66	5.95	5.33	5.12	5.11	5.78	5.80	5.36	5.33
Free Cash Flow Full definition →	116.25	253.27	345.66	407.15	433.08	252.61	423.92	516.12	386.20	298.95
Working Capital Full definition →	7.66	27.91	92.77	72.49	26.57	30.83	142.65	167.29	48.12	71.01
Capital Expenditures Full definition →	(80.41)	(28.58)	(39.72)	(5.57)	151.27	(4.27)	(1.07)	(5.13)	(2.84)	(11.22)
Net Current Asset Value Full definition →	(324.18)	(398.26)	(389.97)	(346.11)	(118.49)	(76.32)	112.11	143.59	(10.92)	(111.46)
EV/EBIT Full definition →	143.96	22.34	11.10	12.78	11.35	11.91	6.85	7.78	11.35	9.62
Capex to Sales Full definition →	0.31	0.07	0.07	0.01	(0.44)	0.01	0.00	0.01	0.01	0.02
Price to Operating Income Full definition →	132.82	20.12	9.83	11.14	10.45	11.48	6.84	7.93	11.26	9.12
Other line items
Depreciation/Fixed assets Full definition →	0.10	0.08	0.08	0.08	0.07	0.06	0.05	0.04	0.04	0.03
Cash ROIC Full definition →	11.06%	17.06%	21.36%	27.16%	36.65%	21.75%	34.63%	40.08%	33.38%	23.28%
Accounts Receivable Turnover Full definition →	4.77	5.77	6.29	5.10	4.89	4.52	5.70	5.43	5.66	6.88
Accounts Payable Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	54.71	74.44	96.92	95.68	70.06	79.53	116.42	108.98	76.67	68.33
Average Payables Full definition →	4.59	3.30	3.31	4.73	4.36	4.68	6.36	6.52	6.11	4.38
Average Assets Full definition →	1,095.13	1,352.64	1,663.29	1,647.67	1,394.59	1,245.95	1,259.50	1,268.98	1,242.90	1,277.23
Average Common Equity Full definition →	751.57	719.88	836.19	851.35	779.52	762.94	838.36	914.83	873.58	828.47

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Columns are period end dates · fundamentals updated 5 Nov 2026

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