Overview Dividends

(BSM) Black Stone Minerals - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US09225M1018

Mineral Interests, Royalty Interests, Oil, Natural Gas

BSM EPS (Earnings per Share)

EPS (Earnings per Share) of BSM over the last years for every Quarter: "2020-09": -0.03, "2020-12": 0.12, "2021-03": 0.08, "2021-06": 0.05, "2021-09": 0.05, "2021-12": 0.6, "2022-03": -0.06, "2022-06": 0.59, "2022-09": 0.75, "2022-12": 0.82, "2023-03": 0.6, "2023-06": 0.35, "2023-09": 0.27, "2023-12": 0.65, "2024-03": 0.27, "2024-06": 0.29, "2024-09": 0.41, "2024-12": 0.3251, "2025-03": 0.2902, "2025-06": 0.2794, "2025-09": 0.3037,
EPS Growth (3Y CAGR): -30.32%
EPS Trend (3Y Correlation): -63.5%

BSM Revenue

Revenue of BSM over the last years for every Quarter: 2020-09: 64.828, 2020-12: 81.066, 2021-03: 89.45, 2021-06: 117.922, 2021-09: 137.388, 2021-12: 160.974, 2022-03: 156.444, 2022-06: 207.721, 2022-09: 221.155, 2022-12: 198.964, 2023-03: 122.307, 2023-06: 105.697, 2023-09: 136.719, 2023-12: 136.376, 2024-03: 116.783, 2024-06: 115.171, 2024-09: 103.181, 2024-12: 104.294, 2025-03: 115.253, 2025-06: 106.71, 2025-09: 77.896,
Revenue Growth (3Y CAGR): -28.89%
Revenue Trend (3Y Correlation): -74.4%
Risk via 10d forecast
Volatility 19.5%
Value at Risk 5%th 33.1%
Reward
Sharpe Ratio -0.11
Alpha -4.24
Character
Hurst Exponent 0.595
Beta 0.091
Drawdowns 3y
Max DD 24.07%
Mean DD 9.48%

Description: BSM Black Stone Minerals November 09, 2025

Black Stone Minerals, L.P. (NYSE: BSM) is a Houston-based mineral rights owner and manager that controls oil and natural gas interests across roughly 16.8 million gross acres, with additional non-participating royalty interests on 1.8 million acres and overriding royalty interests on 1.6 million acres spanning 41 U.S. states. The firm, founded in 1876, generates revenue primarily from royalty payments tied to production on its leased lands.

Key operational metrics: as of FY 2023, BSM reported net revenue of approximately $140 million, driven by a 12 % increase in royalty-bearing production volumes, especially in the Permian and Eagle Ford basins. The company’s cash flow is highly sensitive to WTI crude price movements and natural-gas price spreads, with a breakeven royalty yield of roughly 7 % of gross production value. A sector-wide driver is the ongoing capital discipline among upstream operators, which can accelerate lease expirations and create acquisition opportunities for royalty owners like BSM.

For a deeper, data-driven look at BSM’s valuation and peer benchmarks, the ValueRay platform provides a concise, analytics-focused overview worth exploring.

BSM Stock Overview

Market Cap in USD 2,820m
Sub-Industry Oil & Gas Exploration & Production
IPO / Inception 2015-05-01
Return 12m vs S&P 500 -13.5%
Analyst Rating 3.0 of 5

BSM Dividends

Dividend Yield 10.00%
Yield on Cost 5y 32.14%
Yield CAGR 5y 23.85%
Payout Consistency 93.1%
Payout Ratio 112.7%

BSM Growth Ratios

CAGR -0.33%
CAGR/Max DD Calmar Ratio -0.01
CAGR/Mean DD Pain Ratio -0.03
Current Volume 416.6k
Average Volume 343.1k

Piotroski VR‑10 (Strict, 0-10) 6.5

Net Income (274.1m TTM) > 0 and > 6% of Revenue (6% = 24.2m TTM)
FCFTA 0.19 (>2.0%) and ΔFCFTA -11.90pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 16.25% (prev 19.04%; Δ -2.79pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.26 (>3.0%) and CFO 336.0m > Net Income 274.1m (YES >=105%, WARN >=100%)
Net Debt (88.8m) to EBITDA (321.4m) ratio: 0.28 <= 3.0 (WARN <= 3.5)
Current Ratio 4.37 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (211.6m) change vs 12m ago 0.43% (target <= -2.0% for YES)
Gross Margin 77.07% (prev 76.55%; Δ 0.52pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 32.55% (prev 38.88%; Δ -6.33pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 38.94 (EBITDA TTM 321.4m / Interest Expense TTM 7.22m) >= 6 (WARN >= 3)

ValueRay F-Score (Strict, 0-100) 73.96

1. Piotroski 6.50pt = 1.50
2. FCF Yield 8.42% = 4.21
3. FCF Margin 60.60% = 7.50
4. Debt/Equity 0.08 = 2.50
5. Debt/Ebitda 0.28 = 2.44
6. ROIC - WACC (= 12.92)% = 12.50
7. RoE 24.79% = 2.07
8. Rev. Trend -74.40% = -5.58
9. EPS Trend -63.52% = -3.18

What is the price of BSM shares?

As of November 11, 2025, the stock is trading at USD 13.50 with a total of 416,644 shares traded.
Over the past week, the price has changed by +5.42%, over one month by +8.83%, over three months by +14.52% and over the past year by -0.37%.

Is Black Stone Minerals a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Black Stone Minerals (NYSE:BSM) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 73.96 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of BSM is around 13.86 USD . This means that BSM is currently overvalued and has a potential downside of 2.67%.

Is BSM a buy, sell or hold?

Black Stone Minerals has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold BSM.
  • Strong Buy: 0
  • Buy: 0
  • Hold: 3
  • Sell: 0
  • Strong Sell: 0

What are the forecasts/targets for the BSM price?

Issuer Target Up/Down from current
Wallstreet Target Price 13 -3.7%
Analysts Target Price 13 -3.7%
ValueRay Target Price 15.1 12.1%

BSM Fundamental Data Overview November 10, 2025

Market Cap USD = 2.82b (2.82b USD * 1.0 USD.USD)
P/E Trailing = 11.4741
P/E Forward = 7.1736
P/S = 6.5853
P/B = 2.5266
P/EG = 1.22
Beta = 0.091
Revenue TTM = 404.2m USD
EBIT TTM = 281.3m USD
EBITDA TTM = 321.4m USD
Long Term Debt = 25.0m USD (from longTermDebt, last fiscal year)
Short Term Debt = unknown (none)
Debt = 95.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 88.8m USD (from netDebt column, last quarter)
Enterprise Value = 2.91b USD (2.82b + Debt 95.0m - CCE 6.17m)
Interest Coverage Ratio = 38.94 (Ebit TTM 281.3m / Interest Expense TTM 7.22m)
FCF Yield = 8.42% (FCF TTM 244.9m / Enterprise Value 2.91b)
FCF Margin = 60.60% (FCF TTM 244.9m / Revenue TTM 404.2m)
Net Margin = 67.81% (Net Income TTM 274.1m / Revenue TTM 404.2m)
Gross Margin = 77.07% ((Revenue TTM 404.2m - Cost of Revenue TTM 92.7m) / Revenue TTM)
Gross Margin QoQ = 66.52% (prev 80.13%)
Tobins Q-Ratio = 2.29 (Enterprise Value 2.91b / Total Assets 1.27b)
Interest Expense / Debt = 2.55% (Interest Expense 2.43m / Debt 95.0m)
Taxrate = 21.0% (US default 21%)
NOPAT = 222.2m (EBIT 281.3m * (1 - 21.00%))
Current Ratio = 4.37 (Total Current Assets 85.2m / Total Current Liabilities 19.5m)
Debt / Equity = 0.08 (Debt 95.0m / totalStockholderEquity, last quarter 1.13b)
Debt / EBITDA = 0.28 (Net Debt 88.8m / EBITDA 321.4m)
Debt / FCF = 0.36 (Net Debt 88.8m / FCF TTM 244.9m)
Total Stockholder Equity = 1.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 21.57% (Net Income 274.1m / Total Assets 1.27b)
RoE = 24.79% (Net Income TTM 274.1m / Total Stockholder Equity 1.11b)
RoCE = 24.88% (EBIT 281.3m / Capital Employed (Equity 1.11b + L.T.Debt 25.0m))
RoIC = 19.13% (NOPAT 222.2m / Invested Capital 1.16b)
WACC = 6.21% (E(2.82b)/V(2.91b) * Re(6.35%) + D(95.0m)/V(2.91b) * Rd(2.55%) * (1-Tc(0.21)))
Discount Rate = 6.35% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -33.33 | Cagr: -3.13%
[DCF Debug] Terminal Value 76.51% ; FCFE base≈298.2m ; Y1≈266.1m ; Y5≈224.9m
Fair Price DCF = 19.22 (DCF Value 4.07b / Shares Outstanding 211.9m; 5y FCF grow -13.27% → 3.0% )
EPS Correlation: -63.52 | EPS CAGR: -30.32% | SUE: 0.00 | # QB: 0
Revenue Correlation: -74.40 | Revenue CAGR: -28.89% | SUE: -1.81 | # QB: 0

Additional Sources for BSM Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle