BLACK STONE MINERALS LP (BSM) Stock Fundamental Analysis
NYSE:BSM - New York Stock Exchange, Inc. - US09225M1018 - Currency: USD
Overall BSM gets a fundamental rating of 6 out of 10. We evaluated BSM against 210 industry peers in the Oil, Gas & Consumable Fuels industry. BSM has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. BSM is valued correctly, 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
BSM has a better Return On Assets (28.41%) than 95.15% of its industry peers.
Looking at the Return On Equity, with a value of 29.49%, BSM belongs to the top of the industry, outperforming 87.38% of the companies in the same industry.
With an excellent Return On Invested Capital value of 24.70%, BSM belongs to the best of the industry, outperforming 96.12% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for BSM is significantly below the industry average of 28.71%.
The 3 year average ROIC (23.38%) for BSM is below the current ROIC(24.70%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.41% | ||
| ROE | 29.49% | ||
| ROIC | 24.7% |
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
BSM has a better Profit Margin (63.70%) than 93.20% of its industry peers.
In the last couple of years the Profit Margin of BSM has grown nicely.
The Operating Margin of BSM (69.00%) is better than 94.66% of its industry peers.
In the last couple of years the Operating Margin of BSM has grown nicely.
The Gross Margin of BSM (88.06%) is better than 93.20% of its industry peers.
BSM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 69% | ||
| PM (TTM) | 63.7% | ||
| GM | 88.06% |
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
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), BSM is creating value.
Compared to 1 year ago, BSM has more shares outstanding
The number of shares outstanding for BSM has been increased compared to 5 years ago.
There is no outstanding debt for BSM. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and 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/WACC2.69
WACC9.19%
2.3 Liquidity
A Current Ratio of 5.61 indicates that BSM has no problem at all paying its short term obligations.
With an excellent Current ratio value of 5.61, BSM belongs to the best of the industry, outperforming 88.35% of the companies in the same industry.
BSM has a Quick Ratio of 5.61. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 5.61, BSM belongs to the top of the industry, outperforming 89.81% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.61 | ||
| Quick Ratio | 5.61 |
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%.
The Earnings Per Share has been growing slightly by 0.32% on average over the past years.
The Revenue for BSM has decreased by -14.40% in the past year. This is quite bad
Measured over the past years, BSM shows a decrease in Revenue. The Revenue has been decreasing by -0.58% on average per year.
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 -12.27% yearly.
Based on estimates for the next years, BSM will show a decrease in Revenue. The Revenue will decrease by -2.57% on average per year.
EPS Next Y-27.99%
EPS Next 2Y-12.63%
EPS Next 3Y-12.27%
EPS Next 5YN/A
Revenue Next Year-12.6%
Revenue Next 2Y-4.91%
Revenue Next 3Y-2.57%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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
Based on the Price/Earnings ratio of 8.94, the valuation of BSM can be described as reasonable.
71.84% of the companies in the same industry are more expensive than BSM, based on the Price/Earnings ratio.
BSM's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.46.
BSM is valuated reasonably with a Price/Forward Earnings ratio of 10.14.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BSM indicates a somewhat cheap valuation: BSM is cheaper than 66.02% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 92.56, BSM is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.94 | ||
| Fwd PE | 10.14 |
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 72.82% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.71 | ||
| EV/EBITDA | 7.37 |
4.3 Compensation for Growth
The excellent profitability rating of BSM may justify a higher PE ratio.
A cheap valuation may be justified as BSM's earnings are expected to decrease with -12.27% in the coming years.
PEG (NY)N/A
PEG (5Y)27.59
EPS Next 2Y-12.63%
EPS Next 3Y-12.27%
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 6.54. BSM pays more dividend than 87.86% of the companies in the same industry.
BSM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.78% |
5.2 History
On average, the dividend of BSM grows each year by 7.76%, which is quite nice.
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
111.38% of the earnings are spent on dividend by BSM. 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.
DP111.38%
EPS Next 2Y-12.63%
EPS Next 3Y-12.27%
BLACK STONE MINERALS LP
NYSE:BSM (1/31/2025, 8:14:46 PM)
After market: 14.5 +0.02 (+0.14%)14.48
-0.28 (-1.9%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners13.05%
Inst Owner Change0.38%
Ins Owners18.59%
Ins Owner Change1.82%
Market Cap3.05B
Analysts48
Price Target14.28 (-1.38%)
Short Float %1.35%
Short Ratio3.79
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 9.78% |
Yearly Dividend1.93
Dividend Growth(5Y)7.76%
DP111.38%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.57%
Min EPS beat(2)-19.5%
Max EPS beat(2)14.35%
EPS beat(4)2
Avg EPS beat(4)0.24%
Min EPS beat(4)-24.34%
Max EPS beat(4)30.45%
EPS beat(8)4
Avg EPS beat(8)10.41%
EPS beat(12)7
Avg EPS beat(12)26.59%
EPS beat(16)7
Avg EPS beat(16)7.48%
Revenue beat(2)0
Avg Revenue beat(2)-8.92%
Min Revenue beat(2)-13.18%
Max Revenue beat(2)-4.65%
Revenue beat(4)1
Avg Revenue beat(4)3.9%
Min Revenue beat(4)-13.18%
Max Revenue beat(4)37.35%
Revenue beat(8)2
Avg Revenue beat(8)4.14%
Revenue beat(12)5
Avg Revenue beat(12)6.95%
Revenue beat(16)5
Avg Revenue beat(16)-0.85%
PT rev (1m)0%
PT rev (3m)-6.67%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-3.51%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.48%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-12.49%
Revenue NY rev (1m)-1.83%
Revenue NY rev (3m)-2.97%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.94 | ||
| Fwd PE | 10.14 | ||
| P/S | 5.64 | ||
| P/FCF | 8.71 | ||
| P/OCF | 7.06 | ||
| P/B | 2.61 | ||
| P/tB | 2.61 | ||
| EV/EBITDA | 7.37 |
EPS(TTM)1.62
EY11.19%
EPS(NY)1.43
Fwd EY9.86%
FCF(TTM)1.66
FCFY11.49%
OCF(TTM)2.05
OCFY14.17%
SpS2.57
BVpS5.55
TBVpS5.55
PEG (NY)N/A
PEG (5Y)27.59
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 28.41% | ||
| ROE | 29.49% | ||
| ROCE | 31.27% | ||
| ROIC | 24.7% | ||
| ROICexc | 25.15% | ||
| ROICexgc | 25.15% | ||
| OM | 69% | ||
| PM (TTM) | 63.7% | ||
| GM | 88.06% | ||
| FCFM | 64.79% |
ROA(3y)26.79%
ROA(5y)20.2%
ROE(3y)28.57%
ROE(5y)22.57%
ROIC(3y)23.38%
ROIC(5y)18.57%
ROICexc(3y)23.98%
ROICexc(5y)18.95%
ROICexgc(3y)23.98%
ROICexgc(5y)18.95%
ROCE(3y)29.59%
ROCE(5y)23.5%
ROICexcg growth 3Y39.82%
ROICexcg growth 5Y13.8%
ROICexc growth 3Y39.82%
ROICexc growth 5Y13.8%
OM growth 3Y15.5%
OM growth 5Y6.49%
PM growth 3Y32.03%
PM growth 5Y8.49%
GM growth 3Y2.05%
GM growth 5Y0.47%
F-Score6
Asset Turnover0.45
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Debt/EBITDA | 0 | ||
| Cap/Depr | 177.76% | ||
| Cap/Sales | 15.13% | ||
| Interest Coverage | 230.93 | ||
| Cash Conversion | 103.11% | ||
| Profit Quality | 101.71% | ||
| Current Ratio | 5.61 | ||
| Quick Ratio | 5.61 | ||
| Altman-Z | N/A |
F-Score6
WACC9.19%
ROIC/WACC2.69
Cap/Depr(3y)31.22%
Cap/Depr(5y)40.21%
Cap/Sales(3y)3.1%
Cap/Sales(5y)6.7%
Profit Quality(3y)122.05%
Profit Quality(5y)159.36%
High Growth Momentum
Growth
EPS 1Y (TTM)-20.59%
EPS 3Y73.19%
EPS 5Y0.32%
EPS Q2Q%51.85%
EPS Next Y-27.99%
EPS Next 2Y-12.63%
EPS Next 3Y-12.27%
EPS Next 5YN/A
Revenue 1Y (TTM)-14.4%
Revenue growth 3Y19.99%
Revenue growth 5Y-0.58%
Sales Q2Q%-6.03%
Revenue Next Year-12.6%
Revenue Next 2Y-4.91%
Revenue Next 3Y-2.57%
Revenue Next 5YN/A
EBIT growth 1Y-19.03%
EBIT growth 3Y38.59%
EBIT growth 5Y5.87%
EBIT Next Year5.88%
EBIT Next 3Y0.76%
EBIT Next 5YN/A
FCF growth 1Y6.28%
FCF growth 3Y21.87%
FCF growth 5Y41.6%
OCF growth 1Y26.35%
OCF growth 3Y22.75%
OCF growth 5Y6.23%