BSM Stock Analysis: Black Stone Minerals | NYSE
Oil & Gas E&P | NYSE, USA | Market Cap: 2.935m USD | 12M Return: 30.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.91M
EPS Trend: -95.8%
Qual. Beats: 1
Rev. Trend: -85.1%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 10.5 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. (BSM) is a Houston-based energy company that owns and manages oil and natural gas mineral interests across the United States. Its portfolio includes mineral interests in approximately 16.9 million gross acres, 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 operates as a master limited partnership (MLP) focused on the upstream segment of the oil and gas value chain, generating revenue primarily through royalties and lease bonuses rather than direct drilling operations.
BSMs mineral and royalty interest business model allows it to participate in production without bearing the capital costs or operational risks associated with drilling. As an MLP listed on the NYSE, it is structured to pass through the majority of its taxable income to unitholders, distinguishing it from typical E&P companies that operate wells directly.
- Crude oil and natural gas prices drive mineral royalty revenue
- Operator drilling activity on 16.9M acres lifts production volumes
- Distribution coverage and debt reduction shape capital allocation strategy
| Net Income: 297.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.17 > 0.02 and ΔFCF/TA -5.33 > 1.0 |
| NWC/Revenue: 11.68% < 20% (prev 5.24%; Δ 6.44% < -1%) |
| CFO/TA 0.23 > 3% & CFO 307.9m > Net Income 297.3m |
| Net Debt (176.5m) to EBITDA (346.8m): 0.51 < 3 |
| Current Ratio: 2.34 > 1.5 & < 3 |
| Outstanding Shares: last quarter (212.4m) vs 12m ago 0.53% < -2% |
| Gross Margin: 78.01% > 18% (prev 77.43%; Δ 0.59% > 0.5%) |
| Asset Turnover: 36.34% > 50% (prev 35.35%; Δ 0.99% > 0%) |
| Interest Coverage Ratio: 28.29 > 6 (EBIT TTM 308.1m / Interest Expense TTM 10.9m) |
| DSRI: 0.90 (Receivables 75.4m/77.9m, Revenue 468.2m/437.9m) |
| GMI: 0.99 (GM 77.43% / 78.01%) |
| AQI: 1.65 (AQ_t 0.01 / AQ_t-1 0.01) |
| SGI: 1.07 (Revenue 468.2m / 437.9m) |
| TATA: -0.01 (NI 297.3m - CFO 307.9m) / TA 1.34b) |
| Beneish M = -2.68 (Cap -4..+1) = A |
As of July 20, 2026, the stock is trading at USD 14.31 with a total of 294,603 shares traded. Over the past week, the price has changed by +3.62%, over one month by +3.25%, over three months by +6.31% and over the past year by +30.37%.
Current recommended Stop Loss: 13.70 (which is 4.3% or 1.8 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 | 11.8% |
P/E Trailing = 10.874
P/E Forward = 13.6799
P/S = 7.1546
P/B = 2.7332
P/EG = 1.7092
Revenue TTM = 468.2m USD
EBIT TTM = 308.1m USD
EBITDA TTM = 346.8m USD
Long Term Debt = 187.0m USD (from longTermDebt, last quarter)
Short Term Debt = unknown (none)
Debt = 188.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 1.05m
Net Debt = 176.5m USD (calculated: Debt 188.1m - CCE 11.6m)
Enterprise Value = 3.11b USD (2.93b + Debt 188.1m - CCE 11.6m)
Interest Coverage Ratio = 28.29 (Ebit TTM 308.1m / Interest Expense TTM 10.9m)
EV/FCF = 13.93x (Enterprise Value 3.11b / FCF TTM 223.3m)
FCF Yield = 7.18% (FCF TTM 223.3m / Enterprise Value 3.11b)
FCF Margin = 47.68% (FCF TTM 223.3m / Revenue TTM 468.2m)
Net Margin = 63.48% (Net Income TTM 297.3m / Revenue TTM 468.2m)
Gross Margin = 78.01% ((Revenue TTM 468.2m - Cost of Revenue TTM 102.9m) / Revenue TTM)
Gross Margin QoQ = 86.26% (prev 68.72%)
Tobins Q-Ratio = 2.32 (Enterprise Value 3.11b / Total Assets 1.34b)
Interest Expense / Debt = 5.79% (Interest Expense 10.9m / Debt 188.1m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 243.4m (EBIT 308.1m * (1 - 21.00%))
Current Ratio = 2.34 (Total Current Assets 95.7m / Total Current Liabilities 41.0m)
Debt / Equity = 0.18 (Debt 188.1m / totalStockholderEquity, last quarter 1.07b)
Debt / EBITDA = 0.51 (Net Debt 176.5m / EBITDA 346.8m)
Debt / FCF = 0.79 (Net Debt 176.5m / FCF TTM 223.3m)
Total Stockholder Equity = 1.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 23.07% (Net Income 297.3m / Total Assets 1.34b)
RoE = 26.86% (Net Income TTM 297.3m / Total Stockholder Equity 1.11b)
RoCE = 23.82% (EBIT 308.1m / Capital Employed (Equity 1.11b + L.T.Debt 187.0m))
RoIC = 18.93% (NOPAT 243.4m / Invested Capital 1.29b)
WACC = 6.91% (E(2.93b)/V(3.12b) * Re(7.06%) + D(188.1m)/V(3.12b) * Rd(5.79%) * (1-Tc(0.21)))
Discount Rate = 7.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -16.10 | Cagr: -2.63%
[DCF] Terminal Value 73.10% ; FCFF base≈243.0m ; Y1≈213.1m ; Y5≈172.2m
[DCF] Fair Price = 12.18 (EV 2.76b - Net Debt 176.5m = Equity 2.59b / Shares 212.5m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -95.80 | EPS CAGR: -23.75% | SUE: 1.29 | # QB: 1
Revenue Correlation: -85.14 | Revenue CAGR: -12.44% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.23 | Chg30d=-6.00% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.23 | Chg30d=-6.00% | Revisions=-25% | Analysts=2
EPS current Year (2026-12-31): EPS=0.99 | Chg30d=+0.00% | Revisions=-25% | GrowthEPS=-10.9% | GrowthRev=-8.1%
EPS next Year (2027-12-31): EPS=1.14 | Chg30d=+0.88% | Revisions=-25% | GrowthEPS=+15.2% | GrowthRev=+11.5%
[Analyst] Revisions Ratio: -57% (up=0, down=4)