Black Stone Minerals, L.P. - Understand $bsm stock

$BSM Market Cap: $3.188 Billion

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Financial Snapshot

Revenue

$540.8M

TTM

Gross Margin

87.54%

TTM

Net Earnings

$366.6M

TTM

Current Assets

$109.3M

Q3 2024

Current Liabilities

$19.46M

Q3 2024

Current Ratio

561.49%

Q3 2024

Total Assets

$1.213B

Q3 2024

Total Liabilities

$44.52M

Q3 2024

Book Value

$1.168B

Q3 2024

Cash

$20.96M

Q3 2024

P/E

8.696

Nov 29, 2024 EST

Free Cash Flow

$350.4M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	$592.2M	$663.6M	$359.3M	$342.8M	$487.8M	$609.6M	$429.7M	$260.8M	$392.9M	$548.3M	$463.6M	$435.1M
YoY Change	-10.76%	84.71%	4.82%	-29.74%	-19.97%	41.87%	64.73%	-33.62%	-28.34%	18.27%	6.55%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	$592.2M	$663.6M	$359.3M	$342.8M	$487.8M	$609.6M	$429.7M	$260.8M	$392.9M	$548.3M	$463.6M	$435.1M
Cost Of Revenue	$68.37M	$78.61M	$62.87M	$57.50M	$78.20M	$82.80M	$64.80M	$54.20M	$57.40M	$72.90M	$64.10M	$57.20M
Gross Profit	$523.9M	$585.0M	$296.4M	$285.3M	$409.6M	$526.8M	$364.9M	$206.6M	$335.6M	$475.5M	$399.4M	$377.9M
Gross Profit Margin	88.46%	88.15%	82.5%	83.24%	83.97%	86.42%	84.93%	79.21%	85.41%	86.72%	86.15%	86.85%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Selling, General & Admin	$51.46M	$53.65M	$48.75M	$43.00M	$63.40M	$76.70M	$77.60M	$73.10M	$77.20M	$62.80M	$59.50M	$50.30M
YoY Change	-4.09%	10.06%	13.36%	-32.18%	-17.34%	-1.16%	6.16%	-5.31%	22.93%	5.55%	18.29%
% of Gross Profit	9.82%	9.17%	16.45%	15.07%	15.48%	14.56%	21.27%	35.38%	23.0%	13.21%	14.9%	13.31%
Research & Development	$2.148M	$193.0K	$1.082M	$0.00	$400.0K	$7.900M	$600.0K	$600.0K	$2.600M
YoY Change	1012.95%	-82.16%		-100.0%	-94.94%	1216.67%	0.0%	-76.92%
% of Gross Profit	0.41%	0.03%	0.37%	0.0%	0.1%	1.5%	0.16%	0.29%	0.77%
Depreciation & Amortization	$45.68M	$47.80M	$61.02M	$82.02M	$109.6M	$122.7M	$114.5M	$102.5M	$104.3M	$112.0M	$102.4M	$104.1M
YoY Change	-4.44%	-21.66%	-25.6%	-25.16%	-10.66%	7.09%	11.75%	-1.74%	-6.85%	9.29%	-1.59%
% of Gross Profit	8.72%	8.17%	20.59%	28.75%	26.75%	23.28%	31.39%	49.61%	31.08%	23.55%	25.65%	27.55%
Operating Expenses	$168.6M	$181.1M	$171.9M	$210.6M	$252.6M	$291.2M	$257.6M	$233.4M	$488.8M	$366.6M	$283.8M	$155.0M
YoY Change	-6.89%	5.33%	-18.38%	-16.63%	-13.23%	13.05%	10.37%	-52.26%	33.32%	29.2%	83.07%
Operating Profit	$423.6M	$482.5M	$187.3M	$132.1M	$235.2M	$318.4M	$172.1M	$27.47M	-$95.86M	$181.7M	$179.8M	$222.9M
YoY Change	-12.21%	157.57%	41.8%	-43.82%	-26.14%	85.01%	526.47%	-128.66%	-152.75%	1.06%	-19.33%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Interest Expense	$2.754M	$6.286M	$5.638M	$10.41M	$21.44M	$20.76M	$15.69M	$7.547M	$6.418M	$13.51M	$11.34M	-$9.000M
YoY Change	-56.19%	11.49%	-45.83%	-51.44%	3.27%	32.25%	107.95%	17.59%	-52.49%	19.11%	-226.02%
% of Operating Profit	0.65%	1.3%	3.01%	7.88%	9.11%	6.52%	9.12%	27.47%		7.43%	6.31%	-4.04%
Other Income/Expense, Net	-$1.047M	-$6.018M	-$5.338M	-$10.29M	-$20.80M	-$22.82M	-$14.93M	-$7.281M	-$5.450M	-$12.52M	-$10.85M	$500.0K
YoY Change	-82.6%	12.74%	-48.12%	-50.54%	-8.84%	52.84%	105.07%	33.6%	-56.48%	15.46%	-2269.0%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Pretax Income	$422.5M	$476.5M	$182.0M	$121.8M	$214.4M	$295.6M	$157.2M	$20.20M	-$101.3M	$169.2M	$169.0M	$151.8M
YoY Change	-11.32%	161.82%	49.41%	-43.19%	-27.47%	88.04%	678.22%	-119.94%	-159.87%	0.12%	11.33%
Income Tax										$0.00	$0.00	$0.00
% Of Pretax Income										0.0%	0.0%	0.0%
Net Earnings	$422.5M	$476.5M	$182.0M	$121.8M	$214.4M	$295.6M	$157.2M	$20.19M	-$101.8M	$169.2M	$169.0M	$107.5M
YoY Change	-11.32%	161.82%	49.39%	-43.17%	-27.47%	88.07%	678.45%	-119.84%	-160.14%	0.13%	57.17%
Net Earnings / Revenue	71.35%	71.8%	50.66%	35.54%	43.94%	48.49%	36.58%	7.74%	-25.9%	30.86%	36.45%	24.71%
Basic Earnings Per Share
Diluted Earnings Per Share	$1.78	$2.03	$873.7K	$589.0K	$1.040M	$1.358M	$816.6K	$105.5K	-$1.040M	$895.4K	$886.0K	$564.9K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Cash & Short-Term Investments	$70.28M	$4.307M	$8.876M	$1.800M	$8.100M	$5.400M	$5.600M	$9.800M	$13.20M	$14.80M	$30.10M	$47.30M
YoY Change	1531.81%	-51.48%	393.11%	-77.78%	50.0%	-3.57%	-42.86%	-25.76%	-10.81%	-50.83%	-36.36%
Cash & Equivalents	$70.28M	$4.307M	$8.876M	$1.800M	$8.100M	$5.400M	$5.600M	$9.800M	$13.20M	$14.80M	$30.10M	$47.30M
Short-Term Investments
Other Short-Term Assets	$40.59M	$33.38M	$1.956M	$2.800M	$16.00M	$39.00M	$1.300M	$1.000M	$49.20M	$46.00M	$4.500M	$8.500M
YoY Change	21.62%	1606.39%	-30.14%	-82.5%	-58.97%	2900.0%	30.0%	-97.97%	6.96%	922.22%	-47.06%
Inventory
Prepaid Expenses
Receivables	$77.56M	$129.1M	$93.01M	$58.20M	$78.20M	$113.1M	$80.70M	$68.20M	$41.20M	$74.10M	$91.10M	$68.90M
Other Receivables	$4.693M	$6.619M	$4.137M	$3.700M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$193.1M	$173.4M	$108.0M	$66.50M	$102.3M	$157.5M	$87.60M	$79.00M	$103.6M	$134.9M	$125.8M	$124.6M
YoY Change	11.39%	60.58%	62.37%	-35.0%	-35.05%	79.79%	10.89%	-23.75%	-23.2%	7.23%	0.96%
Property, Plant & Equipment	$1.066B	$1.088B	$1.133B	$1.172B	$1.434B	$1.576B	$1.481B	$1.045B	$938.6M	$1.189B	$1.315B	$1.071B
YoY Change	-2.09%	-3.98%	-3.31%	-18.27%	-8.99%	6.39%	41.79%	11.3%	-21.08%	-9.56%	22.76%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$8.255M	$9.454M	$6.611M	$5.300M	$8.700M	$16.70M	$7.500M	$5.200M	$19.20M	$2.500M	$3.600M	$3.400M
YoY Change	-12.68%	43.0%	24.74%	-39.08%	-47.9%	122.67%	44.23%	-72.92%	668.0%	-30.56%	5.88%
Total Long-Term Assets	$1.074B	$1.098B	$1.140B	$1.178B	$1.443B	$1.593B	$1.489B	$1.050B	$957.8M	$1.192B	$1.319B	$1.075B
YoY Change	-2.18%	-3.71%	-3.19%	-18.39%	-9.4%	6.96%	41.83%	9.61%	-19.64%	-9.61%	22.71%
Total Assets	$1.267B	$1.271B	$1.248B	$1.244B	$1.545B	$1.750B	$1.577B	$1.129B	$1.061B	$1.327B	$1.444B	$1.199B
YoY Change
Accounts Payable	$6.270M	$6.773M	$5.944M	$3.400M	$5.300M	$4.100M	$2.500M	$4.100M	$5.000M	$5.400M	$30.70M	$34.20M
YoY Change	-7.43%	13.95%	74.82%	-35.85%	29.27%	64.0%	-39.02%	-18.0%	-7.41%	-82.41%	-10.23%
Accrued Expenses	$17.00M	$19.73M	$17.59M	$15.60M	$22.70M	$60.10M	$52.60M	$51.00M	$58.00M	$40.20M	$13.20M	$36.80M
YoY Change	-13.82%	12.17%	12.75%	-31.28%	-62.23%	14.26%	3.14%	-12.07%	44.28%	204.55%	-64.13%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due												$19.10M
YoY Change
Total Short-Term Liabilities	$25.84M	$30.73M	$77.14M	$39.90M	$29.80M	$64.80M	$59.70M	$71.30M	$63.00M	$98.60M	$97.80M	$133.0M
YoY Change	-15.94%	-60.16%	93.33%	33.89%	-54.01%	8.54%	-16.27%	13.17%	-36.11%	0.82%	-26.47%
Long-Term Debt	$0.00	$10.00M	$89.00M	$121.0M	$394.0M	$410.0M	$388.0M	$316.0M	$66.00M	$394.0M	$451.0M	$344.0M
YoY Change	-100.0%	-88.76%	-26.45%	-69.29%	-3.9%	5.67%	22.78%	378.79%	-83.25%	-12.64%	31.1%
Other Long-Term Liabilities	$23.70M	$20.54M	$18.15M	$24.10M	$24.60M	$72.70M	$38.20M	$15.80M	$21.70M	$19.80M	$17.80M	$234.1M
YoY Change	15.42%	13.13%	-24.68%	-2.03%	-66.16%	90.31%	141.77%	-27.19%	9.6%	11.24%	-92.4%
Total Long-Term Liabilities	$23.70M	$30.54M	$107.2M	$145.1M	$418.6M	$482.7M	$426.2M	$331.8M	$87.70M	$413.8M	$468.8M	$578.1M
YoY Change	-22.38%	-71.5%	-26.15%	-65.34%	-13.28%	13.26%	28.45%	278.34%	-78.81%	-11.73%	-18.91%
Total Liabilities	$49.54M	$61.27M	$184.3M	$185.0M	$448.4M	$547.5M	$486.8M	$404.2M	$150.8M	$512.4M	$566.6M	$711.1M
YoY Change	-19.15%	-66.75%	-0.38%	-58.74%	-18.1%	12.47%	20.44%	168.04%	-70.57%	-9.57%	-20.32%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Basic Shares Outstanding
Diluted Shares Outstanding
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $3.1878 Billion

About Black Stone Minerals, L.P.

Black Stone Minerals LP is an exploration company. The company is headquartered in Houston, Texas and currently employs 108 full-time employees. The company went IPO on 2015-05-01. The firm's principal business is maximizing the value of its existing mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests. The company owns mineral interests in approximately 16.8 million gross acres. The company also owns nonparticipating royalty interests (NPRIs) in 1.8 million gross acres and overriding royalty interests (ORRIs) in 1.6 million gross acres. The firm owns mineral and royalty interests in 41 states in the continental United States, including all of the onshore producing basins. Many of these interests are in active resource plays, including the Haynesville/Bossier shales in East Texas/Western Louisiana, the Wolfcamp/Spraberry/Bone Springs in the Permian Basin, the Bakken/Three Forks in the Williston Basin, and the Eagle Ford shale in South Texas.

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