BSM Stock Analysis: Black Stone Minerals | NYSE
Oil & Gas E&P | NYSE, USA | Market Cap: 3.197m USD | 12M Return: 30.6% | US09225M1018 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.53M
EPS Trend: -90.0%
Qual. Beats: 2
Rev. Trend: -65.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Black Stone Minerals, L.P. (NYSE: BSM) is a Houston-based energy company that owns and manages oil and natural gas mineral interests across the United States. The partnership holds mineral interests in approximately 16.9 million gross acres, alongside nonparticipating royalty interests in 1.8 million gross acres and overriding royalty interests in 1.6 million gross acres, spanning 41 states. Founded in 1876, the company has a long operating history and completed its initial public offering in May 2015.
BSM operates within the GICS Energy sector, specifically classified under Oil & Gas Exploration & Production. Unlike traditional E&P operators that drill and produce hydrocarbons directly, mineral rights companies like BSM primarily generate revenue through royalties and lease bonuses paid by third-party operators who develop the acreage, resulting in a capital-light business model with exposure to production volumes and commodity prices without direct drilling costs.
- Natural gas prices surge boosts mineral royalty revenue
- Shale basin drilling activity drives production volume growth
- Variable distribution policy returns excess cash to unitholders
| Net Income: 283.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 1.33 > 1.0 |
| NWC/Revenue: 13.50% < 20% (prev 15.00%; Δ -1.49% < -1%) |
| CFO/TA 0.23 > 3% & CFO 320.4m > Net Income 283.6m |
| Net Debt (195.5m) to EBITDA (333.8m): 0.59 < 3 |
| Current Ratio: 3.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (212.5m) vs 12m ago -6.30% < -2% |
| Gross Margin: 78.38% > 18% (prev 78.43%; Δ -0.05% > 0.5%) |
| Asset Turnover: 36.73% > 50% (prev 33.87%; Δ 2.86% > 0%) |
| Interest Coverage Ratio: 23.80 > 6 (EBIT TTM 296.0m / Interest Expense TTM 12.4m) |
| DSRI: 0.79 (Receivables 71.1m/80.0m, Revenue 483.7m/429.4m) |
| GMI: 1.00 (GM 78.43% / 78.38%) |
| AQI: 1.65 (AQ_t 0.01 / AQ_t-1 0.01) |
| SGI: 1.13 (Revenue 483.7m / 429.4m) |
| TATA: -0.03 (NI 283.6m - CFO 320.4m) / TA 1.37b) |
| Beneish M = -2.73 (Cap -4..+1) = A |
As of October 19, 2026, the stock is trading at USD 15.03 with a total of 621,627 shares traded. Over the past week, the price has changed by +1.49%, over one month by +1.55%, over three months by +7.39% and over the past year by +30.61%.
Current recommended Stop Loss: 14.60 (which is 2.9% or 1.9 ATR below the current price).
Black Stone Minerals has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold BSM.
- StrongBuy: 0
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 16 | 6.5% |
P/E Trailing = 12.525
P/E Forward = 12.3001
P/S = 7.5473
P/B = 2.8197
P/EG = 1.3667
Revenue TTM = 483.7m USD
EBIT TTM = 296.0m USD
EBITDA TTM = 333.8m USD
Long Term Debt = 196.0m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 197.2m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.17m
Net Debt = 195.5m USD (calculated: Debt 197.2m - CCE 1.67m)
Enterprise Value = 3.39b USD (3.20b + Debt 197.2m - CCE 1.67m)
Interest Coverage Ratio = 23.80 (Ebit TTM 296.0m / Interest Expense TTM 12.4m)
EV/FCF = 13.12x (Enterprise Value 3.39b / FCF TTM 258.5m)
FCF Yield = 7.62% (FCF TTM 258.5m / Enterprise Value 3.39b)
FCF Margin = 53.45% (FCF TTM 258.5m / Revenue TTM 483.7m)
Net Margin = 58.63% (Net Income TTM 283.6m / Revenue TTM 483.7m)
Gross Margin = 78.38% ((Revenue TTM 483.7m - Cost of Revenue TTM 104.6m) / Revenue TTM)
Gross Margin QoQ = 81.31% (prev 86.26%)
Tobins Q-Ratio = 2.48 (Enterprise Value 3.39b / Total Assets 1.37b)
Interest Expense / Debt = 6.31% (Interest Expense 12.4m / Debt 197.2m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 233.9m (EBIT 296.0m * (1 - 21.00%))
Current Ratio = 3.76 (Total Current Assets 89.0m / Total Current Liabilities 23.7m)
Debt / Equity = 0.18 (Debt 197.2m / totalStockholderEquity, last quarter 1.11b)
Debt / EBITDA = 0.59 (Net Debt 195.5m / EBITDA 333.8m)
Debt / FCF = 0.76 (Net Debt 195.5m / FCF TTM 258.5m)
Total Stockholder Equity = 1.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 21.53% (Net Income 283.6m / Total Assets 1.37b)
RoE = 25.56% (Net Income TTM 283.6m / Total Stockholder Equity 1.11b)
RoCE = 22.68% (EBIT 296.0m / Capital Employed (Equity 1.11b + L.T.Debt 196.0m))
RoIC = 17.45% (NOPAT 233.9m / Invested Capital 1.34b)
WACC = 6.14% (E(3.20b)/V(3.39b) * Re(6.21%) + D(197.2m)/V(3.39b) * Rd(6.31%) * (1-Tc(0.21)))
Discount Rate = 6.21% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 19.62 | Cagr: 0.38%
[DCF] Terminal Value 77.97% ; FCFF base≈244.4m ; Y1≈280.1m ; Y5≈412.3m
[DCF] Fair Price = 28.25 (EV 6.20b - Net Debt 195.5m = Equity 6.01b / Shares 212.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -89.97 | EPS CAGR: -21.34% | SUE: 4.0 | # QB: 2
Revenue Correlation: -65.20 | Revenue CAGR: -7.12% | SUE: 0.38 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.27 | Chg30d=+26.19% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=1.10 | Chg30d=+9.41% | Revisions=+25% | GrowthEPS=-0.5% | GrowthRev=-3.4%
EPS next Year (2027-12-31): EPS=1.13 | Chg30d=-2.59% | Revisions=-40% | GrowthEPS=+2.3% | GrowthRev=+7.9%
[Analyst] Revisions Ratio: -29% (up=1, down=3)