Black Stone Minerals, L.P. (BSM) vs Northern Oil and Gas, Inc. (NOG)

Black Stone Minerals, L.P. and Northern Oil and Gas, Inc. are both Oil & Gas E&P companies. Black Stone Minerals, L.P. is the larger, with a market value of $3.1B against $2.4B — 1.3× the size. Northern Oil and Gas, Inc. has negative trailing earnings, so its P/E is not meaningful; Black Stone Minerals, L.P. trades at 13.6×. Black Stone Minerals, L.P. grew revenue faster over the last twelve months: −1.88% against −25.6%. Black Stone Minerals, L.P. has the higher net margin (50.3% vs −25.4%) and the higher return on invested capital (12.6% vs −6.22%). Both pay a dividend; Black Stone Minerals, L.P. yields more (8.84% vs 8.04%). Across the 21 metrics below, Black Stone Minerals, L.P. leads on 17 and Northern Oil and Gas, Inc. on 4.

Valuation

Metric BSM NOG Oil & Gas E&P median
P/E 13.60 n/m 9.67
P/S 7.16 1.24 1.76
P/B 3.86 1.19 1.19
Price to free cash flow 10.10 n/m 8.37
EV/EBITDA 10.93 14.96 4.59
EV/Sales 7.60 2.65 2.27
Earnings yield 7.36% (22.92%) 7.55%
Free cash flow yield 9.91% (12.41%) 3.98%

Profitability

Metric BSM NOG Oil & Gas E&P median
Gross margin 100.00% 66.68% 79.54%
Operating margin 60.40% (24.10%) 24.01%
Net margin 50.32% (25.35%) 14.11%
Free cash flow margin 70.90% (15.34%) 7.72%
Return on equity 26.56% (22.05%) 8.99%
Return on assets 16.24% (8.43%) 4.63%
Return on invested capital 12.56% (6.22%) 6.33%

Growth

Metric BSM NOG Oil & Gas E&P median
Revenue growth (TTM) (1.88%) (25.62%) 13.60%
EPS growth (last fiscal year) 11.30% (92.41%) (10.17%)
Revenue growth, 5-year CAGR 6.51% 35.00% 18.67%
Net income growth, 5-year CAGR 21.82% 0.00% 0.00%

Health

Metric BSM NOG Oil & Gas E&P median
Debt to equity 0.18 1.37 0.29
Current ratio 1.78 0.80 0.92
Net debt to EBITDA 0.44 2.07 0.93

Dividend

Metric BSM NOG Oil & Gas E&P median
Dividend yield 8.84% 8.04% 3.76%
Payout ratio 1.20 — 0.33

Size

Metric BSM NOG Oil & Gas E&P median
Market cap 3.05b 2.36b 953.29m

Compare with another peer

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