BLACK STONE MINERALS LP (BSM)
US09225M1018
Taking everything into account, BSM scores 6 out of 10 in our fundamental rating. BSM was compared to 204 industry peers in the Oil, Gas & Consumable Fuels industry. Both the health and profitability get an excellent rating, making BSM a very profitable company, without any liquidiy or solvency issues. BSM has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
BSM had positive earnings in the past year.
BSM had a positive operating cash flow in the past year.
Each year in the past 5 years BSM has been profitable.
BSM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 25.96%, BSM belongs to the top of the industry, outperforming 94.09% of the companies in the same industry.
The Return On Equity of BSM (27.23%) is better than 84.73% of its industry peers.
BSM has a Return On Invested Capital of 22.71%. This is amongst the best in the industry. BSM outperforms 93.60% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BSM is in line with the industry average of 22.54%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 25.96% | ||
| ROE | 27.23% | ||
| ROIC | 22.71% |
ROA(3y)26.79%
ROA(5y)20.2%
ROE(3y)28.57%
ROE(5y)22.57%
ROIC(3y)23.38%
ROIC(5y)18.57%
1.3 Margins
With an excellent Profit Margin value of 61.26%, BSM belongs to the best of the industry, outperforming 92.12% of the companies in the same industry.
In the last couple of years the Profit Margin of BSM has grown nicely.
With an excellent Operating Margin value of 66.30%, BSM belongs to the best of the industry, outperforming 92.61% of the companies in the same industry.
In the last couple of years the Operating Margin of BSM has grown nicely.
Looking at the Gross Margin, with a value of 86.64%, BSM belongs to the top of the industry, outperforming 92.61% of the companies in the same industry.
In the last couple of years the Gross Margin of BSM has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 66.3% | ||
| PM (TTM) | 61.26% | ||
| GM | 86.64% |
OM growth 3Y15.5%
OM growth 5Y6.49%
PM growth 3Y32.03%
PM growth 5Y8.49%
GM growth 3Y2.05%
GM growth 5Y0.47%
2. Health
2.1 Basic Checks
BSM has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for BSM has been increased compared to 1 year ago.
The number of shares outstanding for BSM has been increased compared to 5 years ago.
BSM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
BSM has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | N/A |
ROIC/WACC2.5
WACC9.08%
2.3 Liquidity
A Current Ratio of 4.23 indicates that BSM has no problem at all paying its short term obligations.
BSM has a better Current ratio (4.23) than 86.21% of its industry peers.
BSM has a Quick Ratio of 4.23. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 4.23, BSM belongs to the best of the industry, outperforming 86.70% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 4.23 | ||
| Quick Ratio | 4.23 |
3. Growth
3.1 Past
BSM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -20.59%.
Measured over the past 5 years, BSM shows a small growth in Earnings Per Share. The EPS has been growing by 0.32% on average per year.
The Revenue for BSM has decreased by -14.40% in the past year. This is quite bad
BSM shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -0.58% yearly.
EPS 1Y (TTM)-20.59%
EPS 3Y73.19%
EPS 5Y0.32%
EPS Q2Q%51.85%
Revenue 1Y (TTM)-14.4%
Revenue growth 3Y19.99%
Revenue growth 5Y-0.58%
Sales Q2Q%-6.03%
3.2 Future
BSM is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -11.12% yearly.
BSM is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -3.10% yearly.
EPS Next Y-28.53%
EPS Next 2Y-10.49%
EPS Next 3Y-11.12%
EPS Next 5YN/A
Revenue Next Year-10.15%
Revenue Next 2Y-3.52%
Revenue Next 3Y-3.1%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.48 indicates a reasonable valuation of BSM.
BSM's Price/Earnings ratio is a bit cheaper when compared to the industry. BSM is cheaper than 69.95% of the companies in the same industry.
BSM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.96.
A Price/Forward Earnings ratio of 10.25 indicates a reasonable valuation of BSM.
Based on the Price/Forward Earnings ratio, BSM is valued a bit cheaper than 66.01% of the companies in the same industry.
BSM's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.48 | ||
| Fwd PE | 10.25 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BSM is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, BSM is valued a bit cheaper than 73.40% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.36 | ||
| EV/EBITDA | 8.14 |
4.3 Compensation for Growth
BSM has an outstanding profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as BSM's earnings are expected to decrease with -11.12% in the coming years.
PEG (NY)N/A
PEG (5Y)29.25
EPS Next 2Y-10.49%
EPS Next 3Y-11.12%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 9.78%, BSM is a good candidate for dividend investing.
BSM's Dividend Yield is rather good when compared to the industry average which is at 6.45. BSM pays more dividend than 86.21% of the companies in the same industry.
BSM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.23.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.78% |
5.2 History
The dividend of BSM is nicely growing with an annual growth rate of 7.76%!
BSM has paid a dividend for at least 10 years, which is a reliable track record.
BSM has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)7.76%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
BSM pays out 127.35% of its income as dividend. This is not a sustainable payout ratio.
BSM's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP127.35%
EPS Next 2Y-10.49%
EPS Next 3Y-11.12%
BLACK STONE MINERALS LP
NYSE:BSM (11/21/2024, 8:16:14 PM)
After market: 15.42 +0.07 (+0.46%)15.35
+0.2 (+1.32%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap3.23B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.78% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
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EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
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EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
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Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
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Revenue beat(16)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.48 | ||
| Fwd PE | 10.25 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)29.25
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 25.96% | ||
| ROE | 27.23% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 66.3% | ||
| PM (TTM) | 61.26% | ||
| GM | 86.64% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.42
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 4.23 | ||
| Quick Ratio | 4.23 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-20.59%
EPS 3Y73.19%
EPS 5Y
EPS Q2Q%
EPS Next Y-28.53%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-14.4%
Revenue growth 3Y19.99%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y