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. 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 on the other hand it scores bad on growth. Finally BSM also has an excellent dividend rating. With these ratings, BSM could be worth investigating further for dividend investing!.
1. Profitability
1.1 Basic Checks
In the past year BSM was profitable.
BSM had a positive operating cash flow in the past year.
Each year in the past 5 years BSM has been profitable.
Each year in the past 5 years BSM had a positive operating cash flow.
1.2 Ratios
BSM's Return On Assets of 19.84% is amongst the best of the industry. BSM outperforms 91.90% of its industry peers.
Looking at the Return On Equity, with a value of 21.41%, BSM is in the better half of the industry, outperforming 78.57% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 18.15%, BSM belongs to the top of the industry, outperforming 91.43% of the companies in the same industry.
BSM had an Average Return On Invested Capital over the past 3 years of 25.28%. This is below the industry average of 28.54%.
The last Return On Invested Capital (18.15%) for BSM is well below the 3 year average (25.28%), which needs to be investigated, but indicates that BSM had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.84% | ||
| ROE | 21.41% | ||
| ROIC | 18.15% |
ROA(3y)29.1%
ROA(5y)21.66%
ROE(3y)30.66%
ROE(5y)23.33%
ROIC(3y)25.28%
ROIC(5y)19.74%
1.3 Margins
The Profit Margin of BSM (55.77%) is better than 93.33% of its industry peers.
BSM's Profit Margin has improved in the last couple of years.
BSM has a better Operating Margin (62.97%) than 93.81% of its industry peers.
BSM's Operating Margin has improved in the last couple of years.
BSM has a better Gross Margin (86.33%) than 92.86% of its industry peers.
BSM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 62.97% | ||
| PM (TTM) | 55.77% | ||
| GM | 86.33% |
OM growth 3Y7.06%
OM growth 5Y5.48%
PM growth 3Y7.56%
PM growth 5Y7.06%
GM growth 3Y1.53%
GM growth 5Y0.56%
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 reduced compared to 1 year ago.
BSM has more shares outstanding than it did 5 years ago.
BSM has a worse debt/assets ratio than last year.
2.2 Solvency
The Debt to FCF ratio of BSM is 0.09, which is an excellent value as it means it would take BSM, only 0.09 years of fcf income to pay off all of its debts.
BSM has a better Debt to FCF ratio (0.09) than 91.90% of its industry peers.
A Debt/Equity ratio of 0.02 indicates that BSM is not too dependend on debt financing.
The Debt to Equity ratio of BSM (0.02) is better than 82.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.02 | ||
| Debt/FCF | 0.09 | ||
| Altman-Z | N/A |
ROIC/WACC2.05
WACC8.87%
2.3 Liquidity
BSM has a Current Ratio of 2.58. This indicates that BSM is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 2.58, BSM is in the better half of the industry, outperforming 79.52% of the companies in the same industry.
A Quick Ratio of 2.58 indicates that BSM has no problem at all paying its short term obligations.
BSM's Quick ratio of 2.58 is amongst the best of the industry. BSM outperforms 82.38% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.58 | ||
| Quick Ratio | 2.58 |
3. Growth
3.1 Past
BSM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -38.50%.
Measured over the past 5 years, BSM shows a small growth in Earnings Per Share. The EPS has been growing by 5.02% on average per year.
The Revenue for BSM has decreased by -26.77% in the past year. This is quite bad
The Revenue has been decreasing by -2.32% on average over the past years.
EPS 1Y (TTM)-38.5%
EPS 3Y13.82%
EPS 5Y5.02%
EPS Q2Q%-72.31%
Revenue 1Y (TTM)-26.77%
Revenue growth 3Y6.47%
Revenue growth 5Y-2.32%
Sales Q2Q%-56.13%
3.2 Future
The Earnings Per Share is expected to grow by 11.77% on average over the next years. This is quite good.
The Revenue is expected to grow by 7.27% on average over the next years.
EPS Next Y24.27%
EPS Next 2Y11.77%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year6.16%
Revenue Next 2Y7.27%
Revenue Next 3YN/A
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 accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 12.71, which indicates a correct valuation of BSM.
BSM's Price/Earnings ratio is in line with the industry average.
BSM is valuated cheaply when we compare the Price/Earnings ratio to 29.71, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 10.23 indicates a reasonable valuation of BSM.
66.67% of the companies in the same industry are more expensive than BSM, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of BSM to the average of the S&P500 Index (22.34), we can say BSM is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.71 | ||
| Fwd PE | 10.23 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as BSM.
Based on the Price/Free Cash Flow ratio, BSM is valued a bit cheaper than the industry average as 65.71% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.24 | ||
| EV/EBITDA | 9.68 |
4.3 Compensation for Growth
BSM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BSM has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)0.52
PEG (5Y)2.53
EPS Next 2Y11.77%
EPS Next 3YN/A
5. Dividend
5.1 Amount
BSM has a Yearly Dividend Yield of 10.30%, which is a nice return.
Compared to an average industry Dividend Yield of 7.07, BSM pays a better dividend. On top of this BSM pays more dividend than 87.62% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.30, BSM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.3% |
5.2 History
The dividend of BSM has a limited annual growth rate of 1.14%.
BSM has been paying a dividend for at least 10 years, so it has a reliable track record.
BSM has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.14%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
150.94% of the earnings are spent on dividend by BSM. This is not a sustainable payout ratio.
BSM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP150.94%
EPS Next 2Y11.77%
EPS Next 3YN/A
NYSE:BSM (3/5/2025, 8:04:01 PM)
14.62
+0.1 (+0.69%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners13.69%
Inst Owner Change7.65%
Ins Owners18.61%
Ins Owner Change5.89%
Market Cap3.08B
Analysts72.5
Price Target16.83 (15.12%)
Short Float %1.51%
Short Ratio4.53
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.3% |
Yearly Dividend1.68
Dividend Growth(5Y)1.14%
DP150.94%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-18.52%
Min EPS beat(2)-51.4%
Max EPS beat(2)14.35%
EPS beat(4)1
Avg EPS beat(4)-20.22%
Min EPS beat(4)-51.4%
Max EPS beat(4)14.35%
EPS beat(8)3
Avg EPS beat(8)-8.51%
EPS beat(12)6
Avg EPS beat(12)4.58%
EPS beat(16)7
Avg EPS beat(16)6.36%
Revenue beat(2)0
Avg Revenue beat(2)-19.19%
Min Revenue beat(2)-25.2%
Max Revenue beat(2)-13.18%
Revenue beat(4)0
Avg Revenue beat(4)-11.74%
Min Revenue beat(4)-25.2%
Max Revenue beat(4)-3.91%
Revenue beat(8)1
Avg Revenue beat(8)-6.03%
Revenue beat(12)4
Avg Revenue beat(12)-1.65%
Revenue beat(16)5
Avg Revenue beat(16)-1.79%
PT rev (1m)0%
PT rev (3m)17.86%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-1.57%
EPS NY rev (3m)-0.35%
Revenue NQ rev (1m)-0.36%
Revenue NQ rev (3m)-3.39%
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)2.6%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.71 | ||
| Fwd PE | 10.23 | ||
| P/S | 7.1 | ||
| P/FCF | 11.24 | ||
| P/OCF | 7.92 | ||
| P/B | 2.73 | ||
| P/tB | 2.73 | ||
| EV/EBITDA | 9.68 |
EPS(TTM)1.15
EY7.87%
EPS(NY)1.43
Fwd EY9.78%
FCF(TTM)1.3
FCFY8.9%
OCF(TTM)1.85
OCFY12.63%
SpS2.06
BVpS5.36
TBVpS5.36
PEG (NY)0.52
PEG (5Y)2.53
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 19.84% | ||
| ROE | 21.41% | ||
| ROCE | 22.98% | ||
| ROIC | 18.15% | ||
| ROICexc | 18.19% | ||
| ROICexgc | 18.19% | ||
| OM | 62.97% | ||
| PM (TTM) | 55.77% | ||
| GM | 86.33% | ||
| FCFM | 63.18% |
ROA(3y)29.1%
ROA(5y)21.66%
ROE(3y)30.66%
ROE(5y)23.33%
ROIC(3y)25.28%
ROIC(5y)19.74%
ROICexc(3y)25.87%
ROICexc(5y)20.12%
ROICexgc(3y)25.87%
ROICexgc(5y)20.12%
ROCE(3y)32%
ROCE(5y)24.99%
ROICexcg growth 3Y13.21%
ROICexcg growth 5Y8.09%
ROICexc growth 3Y13.21%
ROICexc growth 5Y8.09%
OM growth 3Y7.06%
OM growth 5Y5.48%
PM growth 3Y7.56%
PM growth 5Y7.06%
GM growth 3Y1.53%
GM growth 5Y0.56%
F-Score4
Asset Turnover0.36
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.02 | ||
| Debt/FCF | 0.09 | ||
| Debt/EBITDA | 0.08 | ||
| Cap/Depr | 254.52% | ||
| Cap/Sales | 26.52% | ||
| Interest Coverage | 139.27 | ||
| Cash Conversion | 122.22% | ||
| Profit Quality | 113.29% | ||
| Current Ratio | 2.58 | ||
| Quick Ratio | 2.58 | ||
| Altman-Z | N/A |
F-Score4
WACC8.87%
ROIC/WACC2.05
Cap/Depr(3y)108.08%
Cap/Depr(5y)70.81%
Cap/Sales(3y)10.59%
Cap/Sales(5y)7.45%
Profit Quality(3y)109.65%
Profit Quality(5y)150.85%
High Growth Momentum
Growth
EPS 1Y (TTM)-38.5%
EPS 3Y13.82%
EPS 5Y5.02%
EPS Q2Q%-72.31%
EPS Next Y24.27%
EPS Next 2Y11.77%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-26.77%
Revenue growth 3Y6.47%
Revenue growth 5Y-2.32%
Sales Q2Q%-56.13%
Revenue Next Year6.16%
Revenue Next 2Y7.27%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-35.51%
EBIT growth 3Y13.99%
EBIT growth 5Y3.03%
EBIT Next Year20.8%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-45.35%
FCF growth 3Y4.19%
FCF growth 5Y-1.89%
OCF growth 1Y-25.36%
OCF growth 3Y14.84%
OCF growth 5Y-1.17%