Black Stone Minerals, L.P. (BSM) vs California Resources Corporation (CRC)

Black Stone Minerals, L.P. and California Resources Corporation are both Oil & Gas E&P companies. California Resources Corporation is the larger, with a market value of $4.7B against $3.1B — 1.5× the size. California Resources Corporation has negative trailing earnings, so its P/E is not meaningful; Black Stone Minerals, L.P. trades at 11.9×. Black Stone Minerals, L.P. grew revenue faster over the last twelve months: 5.07% against −22.5%. Black Stone Minerals, L.P. has the higher net margin (55.3% vs −3.79%) and the higher return on invested capital (14.1% vs −0.74%). Both pay a dividend; Black Stone Minerals, L.P. yields more (11.9% vs 2.13%). Across the 22 metrics below, Black Stone Minerals, L.P. leads on 18 and California Resources Corporation on 4.

Valuation

Metric BSM CRC Oil & Gas E&P median
P/E 11.92 n/m 10.57
P/S 6.67 1.46 1.80
P/B 3.77 1.37 1.27
Price to free cash flow 9.99 12.11 9.99
EV/EBITDA 9.75 13.04 5.08
EV/Sales 7.09 1.88 2.39
Earnings yield 8.39% (2.53%) 6.06%
Free cash flow yield 10.01% 8.26% 6.17%

Profitability

Metric BSM CRC Oil & Gas E&P median
Gross margin 100.00% 52.43% 80.41%
Operating margin 64.34% (1.72%) 21.39%
Net margin 55.30% (3.79%) 14.17%
Free cash flow margin 66.81% 12.05% 9.71%
Return on equity 31.47% (3.55%) 10.05%
Return on assets 19.30% (1.75%) 5.81%
Return on invested capital 14.13% (0.74%) 6.32%

Growth

Metric BSM CRC Oil & Gas E&P median
Revenue growth (TTM) 5.07% (22.45%) 9.94%
EPS growth (last fiscal year) 11.30% (10.17%) —
Revenue growth, 5-year CAGR 6.51% 18.67% 18.67%
Net income growth, 5-year CAGR 21.82% (27.12%) 0.00%

Health

Metric BSM CRC Oil & Gas E&P median
Debt to equity 0.18 0.38 0.28
Current ratio 3.76 0.66 0.96
Net debt to EBITDA 0.44 1.04 0.91

Dividend

Metric BSM CRC Oil & Gas E&P median
Dividend yield 11.86% 2.13% 4.93%
Payout ratio — 0.08 0.07

Size

Metric BSM CRC Oil & Gas E&P median
Market cap 3.12b 4.66b 923.59m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack