BSM
Black Stone Minerals LP
NYSE: BSM · ENERGY · OIL & GAS E&P
$14.28
+1.20% today
Updated 2026-04-29
Market cap
$3.03B
P/E ratio
11.16
P/S ratio
7.56x
EPS (TTM)
$1.28
Dividend yield
9.04%
52W range
$11 – $15
Volume
0.4M
Black Stone Minerals LP (BSM) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $368.95M | $463.56M | $548.32M | $392.92M | $260.83M | $429.66M | $609.57M | $492.78M | $296.64M | $505.73M | $784.28M | $501.10M | $439.43M | $422.33M |
| Revenue growth (YoY) | — | +25.6% | +18.3% | -28.3% | -33.6% | +64.7% | +41.9% | -19.2% | -39.8% | +70.5% | +55.1% | -36.1% | -12.3% | -3.9% |
| Cost of revenue | $57.21M | $166.40M | $184.82M | $161.65M | $156.71M | $179.29M | $205.43M | $187.78M | $139.51M | $123.88M | $126.42M | $114.05M | $104.48M | $106.06M |
| Gross profit | $311.75M | $297.16M | $363.50M | $231.28M | $104.13M | $250.37M | $404.14M | $304.99M | $157.13M | $381.85M | $657.87M | $387.05M | $334.95M | $316.27M |
| Gross margin | 84.5% | 64.1% | 66.3% | 58.9% | 39.9% | 58.3% | 66.3% | 61.9% | 53.0% | 75.5% | 83.9% | 77.2% | 76.2% | 74.9% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $48.75M | $59.50M | $62.77M | $77.17M | $73.14M | $77.57M | $76.71M | $63.35M | $42.98M | $48.75M | $53.65M | $51.45M | $52.08M | $55.46M |
| Operating income | $159.94M | $179.81M | $181.71M | $-95.86M | $27.47M | $172.08M | $318.38M | $235.17M | $132.11M | $187.32M | $482.50M | $423.60M | $273.11M | $260.81M |
| Operating margin | 43.3% | 38.8% | 33.1% | -24.4% | 10.5% | 40.1% | 52.2% | 47.7% | 44.5% | 37.0% | 61.5% | 84.5% | 62.2% | 61.8% |
| EBITDA | $327.59M | $282.75M | $295.72M | $8.44M | $131.11M | $289.71M | $442.33M | $345.39M | $215.38M | $248.64M | $530.57M | $470.99M | $319.63M | $347.12M |
| EBITDA margin | 88.8% | 61.0% | 53.9% | 2.1% | 50.3% | 67.4% | 72.6% | 70.1% | 72.6% | 49.2% | 67.7% | 94.0% | 72.7% | 82.2% |
| EBIT | $159.94M | $180.31M | $183.76M | $-95.86M | $27.73M | $174.15M | $318.58M | $235.80M | $132.23M | $187.63M | $482.77M | $425.30M | $274.44M | $308.86M |
| Interest expense | — | $11.34M | $13.51M | $6.42M | $7.55M | $15.69M | $20.76M | $21.43M | $10.41M | $5.64M | $6.29M | $2.75M | $3.11M | $8.93M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $91.72M | $168.59M | $170.35M | $-100.05M | $20.20M | $157.19M | $295.54M | $214.37M | $121.82M | $181.99M | $476.48M | $422.55M | $271.33M | $299.93M |
| Net income growth (YoY) | — | +83.8% | +1.0% | -158.7% | +120.2% | +678.2% | +88.0% | -27.5% | -43.2% | +49.4% | +161.8% | -11.3% | -35.8% | +10.5% |
| Profit margin | 24.9% | 36.4% | 31.1% | -25.5% | 7.7% | 36.6% | 48.5% | 43.5% | 41.1% | 36.0% | 60.8% | 84.3% | 61.7% | 71.0% |