Black Stone Minerals (BSM) Financials

$13.98 -0.03 (-0.21%)

As of 03:58 PM Eastern

Annual Income Statements for Black Stone Minerals

This table shows Black Stone Minerals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-108	14	152	275	193	101	161	455	401	242
Consolidated Net Income / (Loss)	-102	20	157	296	214	122	182	476	423	271
Net Income / (Loss) Continuing Operations	-101	20	157	296	214	122	182	476	422	270
Total Pre-Tax Income	-101	20	157	296	214	122	182	476	423	271
Total Operating Income	-96	27	172	318	235	132	187	482	424	273
Total Gross Profit	371	261	430	15	488	343	359	664	592	434
Total Revenue	393	261	430	15	488	343	359	664	592	434
Operating Revenue	303	261	403	-	493	297	506	784	501	439
Other Revenue	90	-	27	15	-4.96	46	-146	-121	91	-5.73
Total Cost of Revenue	22	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	467	233	258	-304	253	211	172	181	169	161
Selling, General & Admin Expense	79	73	78	77	81	43	49	54	51	52
Marketing Expense	36	35	47	64	61	43	50	66	57	50
Exploration Expense	2.59	0.65	0.62	7.94	0.40	0.03	1.08	0.19	2.15	2.74
Depreciation Expense	104	102	115	123	110	82	61	48	46	45
Other Operating Expenses / (Income)	1.08	15	18	-575	1.12	15	14	13	12	11
Other Special Charges / (Income)	-4.87	-	-0.93	-0.00	0.00	-24	-2.85	-0.02	-0.07	0.00
Total Other Income / (Expense), net	-5.45	-7.28	-15	-23	-21	-10	-5.34	-6.02	-1.05	-1.78
Interest Expense	6.42	7.55	16	21	21	10	5.64	6.29	2.75	3.11
Interest & Investment Income	0.06	0.66	0.05	0.18	0.16	0.04	0.00	0.05	1.87	1.67
Other Income / (Expense), net	0.91	-0.39	0.71	-2.25	0.47	0.08	0.30	0.22	-0.16	-0.34
Other Gains / (Losses), net	-	-	-	-	-	-	-	-	-1.05	-1.78
Preferred Stock Dividends Declared	7.52	5.76	5.04	21	21	21	21	21	22	29
Basic Earnings per Share	($1.12)	$0.15	$1.57	$2.71	$1.65	$0.49	$0.77	$2.18	$1.91	$1.15
Weighted Average Basic Shares Outstanding	191.24M	191.21M	192.55M	202.16M	205.97M	206.71M	208.18M	209.38M	209.97M	210.68M
Diluted Earnings per Share	($1.12)	$0.15	$1.57	$2.70	$1.65	$0.49	$0.77	$2.12	$1.88	$1.15
Weighted Average Diluted Shares Outstanding	191.24M	191.38M	192.55M	217.61M	206.12M	206.82M	208.29M	224.45M	225.11M	210.78M
Weighted Average Basic & Diluted Shares Outstanding	96.18M	0.00	0.00	0.00	0.00	206.71M	208.18M	209.38M	209.97M	210.68M

This table shows Black Stone Minerals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	163	178	129	73	57	142	57	61	85	39
Consolidated Net Income / (Loss)	168	183	134	78	62	148	64	68	93	46
Net Income / (Loss) Continuing Operations	168	184	134	78	62	147	64	68	93	45
Total Pre-Tax Income	168	183	134	78	62	148	64	68	93	46
Total Operating Income	170	185	135	79	62	148	64	68	93	48
Total Gross Profit	216	230	175	117	110	191	105	110	135	84
Total Revenue	216	230	175	117	110	191	105	110	135	84
Operating Revenue	221	199	122	106	137	136	117	115	103	104
Other Revenue	-4.73	31	52	11	-27	54	-11	-5.55	32	-21
Total Operating Expenses	46	45	39	38	48	43	42	41	42	36
Selling, General & Admin Expense	13	14	13	12	14	13	14	13	13	12
Marketing Expense	18	15	13	13	16	15	13	13	12	11
Exploration Expense	0.01	0.00	0.00	0.00	1.71	0.43	0.00	0.01	2.56	0.16
Depreciation Expense	12	13	11	10	12	12	12	11	11	11
Other Operating Expenses / (Income)	3.11	3.37	2.91	3.12	2.87	3.53	2.75	2.90	2.75	2.61
Total Other Income / (Expense), net	-1.73	-1.75	-0.76	-0.37	0.03	0.05	-0.05	-0.17	-0.39	-1.18
Interest Expense	1.69	2.02	0.81	0.65	0.62	0.67	0.63	0.63	0.72	1.13
Interest & Investment Income	0.02	0.03	0.16	0.37	0.51	0.83	0.67	0.46	0.34	0.19
Other Income / (Expense), net	-0.06	0.24	-0.10	-0.10	0.14	-0.11	-0.09	-0.00	-0.01	-0.24
Preferred Stock Dividends Declared	5.25	5.25	5.25	5.25	5.25	6.03	7.37	7.37	7.37	7.37
Basic Earnings per Share	$0.78	$0.86	$0.62	$0.35	$0.27	$0.67	$0.27	$0.29	$0.41	$0.18
Weighted Average Basic Shares Outstanding	209.40M	209.38M	209.94M	209.97M	209.98M	209.97M	210.65M	210.70M	210.69M	210.68M
Diluted Earnings per Share	$0.75	$0.84	$0.60	$0.35	$0.27	$0.66	$0.27	$0.29	$0.41	$0.18
Weighted Average Diluted Shares Outstanding	224.37M	224.45M	224.91M	209.97M	209.98M	225.11M	210.65M	210.70M	210.69M	210.78M
Weighted Average Basic & Diluted Shares Outstanding	209.40M	209.38M	209.94M	209.97M	209.98M	209.97M	210.65M	210.70M	210.69M	210.68M

This table details how cash moves in and out of Black Stone Minerals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-1.57	-3.46	-4.13	-0.23	2.71	-6.32	7.08	-4.57	66	-68
Net Cash From Operating Activities	285	197	282	385	413	282	257	425	521	389
Net Cash From Continuing Operating Activities	285	197	282	385	413	282	257	425	521	389
Net Income / (Loss) Continuing Operations	-101	20	157	296	214	122	182	476	423	271
Consolidated Net Income / (Loss)	-101	20	157	296	214	122	182	476	423	271
Depreciation Expense	104	102	115	123	110	82	61	48	46	45
Amortization Expense	0.94	0.87	0.88	0.91	1.04	1.04	1.58	1.95	1.04	1.08
Non-Cash Adjustments To Reconcile Net Income	237	127	21	-15	54	67	45	-64	3.40	61
Changes in Operating Assets and Liabilities, net	44	-54	-12	-19	33	9.85	-33	-37	49	11
Net Cash From Investing Activities	-91	-222	-454	-164	-49	151	-14	-1.22	-20	-112
Net Cash From Continuing Investing Activities	-91	-222	-454	-164	-49	151	-14	-1.22	-20	-112
Purchase of Property, Plant & Equipment	-117	-221	-482	-291	-111	-4.02	-15	-13	-19	-112
Divestitures	26	0.20	11	9.01	1.17	152	0.32	0.02	0.07	2.80
Other Investing Activities, net	0.00	0.00	16	118	62	3.40	-0.10	11	-0.55	-3.42
Net Cash From Financing Activities	-195	21	168	-222	-361	-439	-235	-428	-436	-345
Net Cash From Continuing Financing Activities	-195	21	168	-222	-361	-439	-235	-428	-436	-345
Repayment of Debt	-575	-99	-224	-353	-351	-433	-248	-421	-74	-72
Repurchase of Common Equity	-3.02	-27	-8.19	-11	-17	-5.04	-1.96	-2.99	-5.50	-4.45
Payment of Dividends	-221	-182	-199	-270	-328	-161	-198	-343	-420	-365
Issuance of Debt	246	349	293	374	335	160	212	339	64	97
Cash Interest Paid	5.48	6.54	15	20	20	9.45	4.04	4.33	1.74	1.96

This table details how cash moves in and out of Black Stone Minerals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-11	3.47	15	28	9.36	14	-30	-14	-5.71	-18
Net Cash From Operating Activities	108	156	137	133	117	134	104	100	93	91
Net Cash From Continuing Operating Activities	108	156	137	133	117	134	104	100	93	91
Net Income / (Loss) Continuing Operations	168	183	134	78	62	148	64	68	93	46
Consolidated Net Income / (Loss)	168	183	134	78	62	148	64	68	93	46
Depreciation Expense	12	13	11	10	12	12	12	11	11	11
Amortization Expense	0.35	0.91	0.26	0.26	0.26	0.26	0.27	0.27	0.27	0.27
Non-Cash Adjustments To Reconcile Net Income	-59	-66	-37	20	55	-35	28	20	-18	31
Changes in Operating Assets and Liabilities, net	-13	26	28	25	-13	9.15	0.84	0.55	7.29	1.96
Net Cash From Investing Activities	-0.53	-0.54	-1.95	-0.68	-2.31	-15	-24	-28	-13	-48
Net Cash From Continuing Investing Activities	-0.53	-0.54	-1.95	-0.68	-2.31	-15	-24	-28	-13	-48
Purchase of Property, Plant & Equipment	-1.88	-0.54	-1.95	-0.67	-2.39	-14	-23	-27	-15	-46
Other Investing Activities, net	1.35	-	0.00	-0.01	-	-0.54	-0.75	-1.09	-0.00	-1.58
Net Cash From Financing Activities	-119	-152	-120	-105	-105	-105	-110	-86	-86	-61
Net Cash From Continuing Financing Activities	-119	-152	-120	-105	-105	-105	-110	-86	-86	-61
Repayment of Debt	-110	-155	-60	-14	-0.04	-0.07	-6.02	-3.01	-24	-39
Payment of Dividends	-93	-99	-105	-105	-105	-105	-106	-86	-86	-86
Issuance of Debt	84	102	50	14	-	-	6.00	3.00	24	64
Cash Interest Paid	1.34	1.13	0.59	0.39	0.36	0.41	0.36	0.36	0.46	0.78

This table presents Black Stone Minerals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	1,061	1,129	1,576	1,750	1,545	1,244	1,248	1,271	1,267	1,219
Total Current Assets	104	79	88	158	102	67	108	173	193	79
Cash & Equivalents	13	9.77	5.64	5.41	8.12	1.80	8.88	4.31	70	2.52
Accounts Receivable	41	68	81	113	78	62	97	136	82	71
Prepaid Expenses	0.86	1.04	1.21	1.00	1.17	1.67	1.96	1.91	2.32	3.11
Other Current Assets	48	0.00	0.09	38	15	1.15	0.00	31	38	1.82
Plant, Property, & Equipment, net	939	1,045	1,481	1,576	1,434	1,172	1,133	1,088	1,066	1,134
Plant, Property & Equipment, gross	2,482	2,698	3,248	3,442	3,305	3,159	3,003	3,005	3,027	3,108
Accumulated Depreciation	1,544	1,653	1,767	1,866	1,870	1,987	1,870	1,917	1,962	1,973
Total Noncurrent Assets	19	5.17	7.48	17	8.69	5.32	6.61	9.45	8.26	6.32
Other Noncurrent Operating Assets	19	5.17	7.48	17	8.69	5.32	6.61	9.45	8.26	6.32
Total Liabilities & Shareholders' Equity	1,061	1,129	1,576	1,750	1,545	1,244	1,248	1,271	1,267	1,219
Total Liabilities	151	403	486	548	448	185	184	61	50	89
Total Current Liabilities	63	71	60	65	30	40	77	31	26	30
Accounts Payable	5.04	4.14	2.46	4.15	5.31	3.41	5.94	6.77	6.27	5.95
Accrued Expenses	58	51	53	60	23	16	18	20	17	17
Other Current Liabilities	0.00	16	4.64	0.53	1.79	21	54	4.23	2.56	7.24
Total Noncurrent Liabilities	88	332	426	483	419	145	107	31	24	59
Long-Term Debt	66	316	407	466	401	125	92	14	2.89	27
Asset Retirement Reserve & Litigation Obligation	11	13	14	15	16	17	13	15	19	19
Noncurrent Employee Benefit Liabilities	7.90	1.49	3.65	1.81	2.11	0.77	0.84	1.88	1.70	1.23
Other Noncurrent Operating Liabilities	0.00	0.48	1.26	0.00	0.02	1.85	2.00	0.02	0.08	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	79	54	322	298	298	298	298	298	299	300
Total Equity & Noncontrolling Interests	831	672	768	904	798	761	765	911	918	829
Total Preferred & Common Equity	830	671	767	904	798	761	765	911	918	829
Total Common Equity	830	671	767	904	798	761	765	911	918	829
Common Stock	830	671	767	904	798	761	765	911	918	829

This table presents Black Stone Minerals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,271	1,272	1,250	1,234	1,232	1,217	1,213
Total Current Assets	161	184	172	167	146	115	109
Cash & Equivalents	0.84	19	47	56	40	27	21
Accounts Receivable	158	94	72	88	72	74	68
Prepaid Expenses	2.24	2.09	2.62	1.98	2.54	3.06	2.03
Other Current Assets	0.00	68	50	21	31	11	18
Plant, Property, & Equipment, net	0.98	1.11	1,069	1,059	1,078	1,095	1,096
Plant, Property & Equipment, gross	3,002	3,006	3,007	3,010	3,050	3,079	3,059
Accumulated Depreciation	1,904	1,928	1,938	1,950	1,973	1,984	1,963
Total Noncurrent Assets	12	8.92	9.20	7.62	7.64	7.09	7.27
Other Noncurrent Operating Assets	12	8.92	9.20	7.62	7.64	7.09	7.27
Total Liabilities & Shareholders' Equity	1,271	1,272	1,250	1,234	1,232	1,217	1,213
Total Liabilities	149	33	37	61	56	56	45
Total Current Liabilities	72	13	17	34	27	27	19
Accounts Payable	3.04	4.96	5.60	4.50	5.84	5.63	3.74
Accrued Expenses	18	6.72	10	14	7.38	11	14
Other Current Liabilities	50	1.10	1.14	16	14	11	1.80
Total Noncurrent Liabilities	78	21	20	27	28	29	25
Long-Term Debt	62	3.71	3.51	3.18	2.76	2.50	2.22
Asset Retirement Reserve & Litigation Obligation	13	15	15	15	19	19	19
Noncurrent Employee Benefit Liabilities	1.41	0.80	1.09	1.37	0.80	0.91	1.08
Other Noncurrent Operating Liabilities	1.83	1.05	0.47	6.77	5.86	6.67	3.01
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	298	298	298	298	300	300	300
Total Equity & Noncontrolling Interests	823	940	915	875	875	860	868
Total Preferred & Common Equity	823	940	915	875	875	860	868
Total Common Equity	823	940	915	875	875	860	868
Common Stock	823	940	915	875	875	860	868

This table displays calculated financial ratios and metrics derived from Black Stone Minerals' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-28.34%	-33.62%	64.73%	-96.55%	3,189.20%	-29.74%	4.82%	84.71%	-10.76%	-26.77%
EBITDA Growth	-96.52%	1,167.86%	120.96%	52.56%	-21.25%	-37.84%	16.25%	112.80%	-11.70%	-32.14%
EBIT Growth	-151.98%	128.52%	538.13%	82.95%	-25.46%	-43.90%	41.93%	157.28%	-12.28%	-35.58%
NOPAT Growth	-136.93%	140.94%	526.47%	85.01%	-26.14%	-43.82%	41.80%	157.57%	-12.21%	-35.53%
Net Income Growth	-160.14%	119.84%	678.45%	88.07%	-27.47%	-43.17%	49.39%	161.82%	-11.32%	-35.79%
EPS Growth	0.00%	113.39%	946.67%	71.97%	-38.89%	-70.30%	57.14%	175.32%	-11.32%	-38.83%
Operating Cash Flow Growth	-28.12%	-30.93%	43.32%	36.73%	7.09%	-31.72%	-8.85%	65.44%	22.65%	-25.36%
Free Cash Flow Firm Growth	120.28%	-118.98%	-602.68%	151.12%	177.62%	7.46%	-49.23%	83.76%	20.21%	-45.37%
Invested Capital Growth	-22.71%	7.11%	44.60%	11.47%	-10.44%	-20.63%	-3.02%	6.33%	-5.67%	0.34%
Revenue Q/Q Growth	-14.96%	-14.25%	9.91%	-96.77%	733.73%	-28.81%	39.65%	8.32%	-6.26%	-19.81%
EBITDA Q/Q Growth	-78.87%	55.13%	13.85%	52.12%	-27.98%	-7.71%	65.32%	9.97%	-7.73%	-24.05%
EBIT Q/Q Growth	-49.31%	256.91%	19.25%	85.97%	-34.60%	-9.05%	124.19%	11.45%	-8.18%	-26.87%
NOPAT Q/Q Growth	-49.96%	317.10%	18.60%	86.54%	-34.89%	-8.95%	124.49%	11.41%	-8.11%	-26.82%
Net Income Q/Q Growth	-40.76%	188.91%	20.42%	96.02%	-36.67%	-7.36%	132.90%	11.47%	-7.76%	-27.19%
EPS Q/Q Growth	0.00%	0.00%	0.00%	106.11%	-40.22%	-40.24%	175.00%	11.58%	-8.74%	-29.45%
Operating Cash Flow Q/Q Growth	-11.67%	-5.96%	5.66%	7.08%	2.67%	-14.04%	5.36%	24.26%	-4.11%	-9.99%
Free Cash Flow Firm Q/Q Growth	0.00%	-622.06%	-943.83%	157.03%	-1.41%	-9.84%	6.05%	-71.38%	185.80%	-21.78%
Invested Capital Q/Q Growth	-11.42%	-3.30%	26.65%	3.50%	-4.12%	-2.40%	5.73%	1,329.44%	2.63%	0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	94.51%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	2.62%	50.01%	67.08%	2,964.68%	70.98%	62.80%	69.65%	80.24%	79.39%	73.56%
Operating Margin	-24.40%	10.53%	40.05%	2,146.73%	48.21%	38.54%	52.14%	72.71%	71.53%	62.97%
EBIT Margin	-24.16%	10.38%	40.22%	2,131.57%	48.31%	38.57%	52.23%	72.74%	71.50%	62.89%
Profit (Net Income) Margin	-25.90%	7.74%	36.58%	1,992.85%	43.94%	35.54%	50.66%	71.80%	71.35%	62.56%
Tax Burden Percent	100.44%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	106.70%	74.55%	90.95%	93.49%	90.97%	92.15%	97.00%	98.71%	99.79%	99.47%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-6.07%	2.75%	13.64%	20.18%	14.92%	9.89%	16.09%	40.79%	35.76%	23.71%
ROIC Less NNEP Spread (ROIC-NNEP)	-20.37%	-1.30%	9.42%	14.89%	10.04%	5.90%	10.91%	27.73%	39.37%	31.99%
Return on Net Nonoperating Assets (RNNOA)	-5.72%	-0.29%	3.67%	5.60%	3.73%	1.41%	1.06%	1.12%	-0.94%	-0.59%
Return on Equity (ROE)	-11.80%	2.47%	17.31%	25.78%	18.65%	11.30%	17.15%	41.92%	34.82%	23.12%
Cash Return on Invested Capital (CROIC)	19.55%	-4.11%	-22.83%	9.33%	25.94%	32.89%	19.16%	34.65%	41.60%	23.37%
Operating Return on Assets (OROA)	-7.95%	2.47%	12.77%	19.01%	14.30%	9.48%	15.06%	38.33%	33.37%	21.95%
Return on Assets (ROA)	-8.52%	1.84%	11.62%	17.77%	13.01%	8.74%	14.61%	37.83%	33.30%	21.83%
Return on Common Equity (ROCE)	-10.15%	2.26%	13.70%	18.79%	13.81%	8.17%	12.33%	30.91%	26.25%	17.22%
Return on Equity Simple (ROE_SIMPLE)	-12.25%	3.01%	20.48%	32.69%	26.85%	16.02%	23.78%	52.28%	46.02%	32.73%
Net Operating Profit after Tax (NOPAT)	-67	27	172	318	235	132	187	482	424	273
NOPAT Margin	-17.08%	10.53%	40.05%	2,146.73%	48.21%	38.54%	52.14%	72.71%	71.53%	62.97%
Net Nonoperating Expense Percent (NNEP)	14.30%	4.06%	4.22%	5.29%	4.88%	3.99%	5.18%	13.06%	-3.60%	-8.29%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	52.16%	45.99%	31.91%
Cost of Revenue to Revenue	5.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	20.05%	28.04%	18.05%	517.24%	16.61%	12.54%	13.57%	8.08%	8.69%	12.01%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	118.90%	89.47%	59.95%	-2,046.73%	51.79%	61.46%	47.86%	27.29%	28.47%	37.03%
Earnings before Interest and Taxes (EBIT)	-95	27	173	316	236	132	188	483	423	273
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	10	130	288	440	346	215	250	532	470	319
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.67	2.89	2.61	2.32	2.25	1.35	2.20	3.26	3.44	3.62
Price to Tangible Book Value (P/TBV)	1.67	2.89	2.61	2.32	2.25	1.35	2.20	3.26	3.44	3.62
Price to Revenue (P/Rev)	3.52	7.44	4.65	141.65	3.69	3.01	4.69	4.48	5.33	6.92
Price to Earnings (P/E)	0.00	134.33	13.14	7.65	9.31	10.22	10.47	6.53	7.88	12.41
Dividend Yield	7.26%	10.86%	11.55%	13.80%	16.94%	13.65%	8.04%	11.62%	13.54%	11.24%
Earnings Yield	0.00%	0.74%	7.61%	13.07%	10.74%	9.79%	9.55%	15.31%	12.69%	8.06%
Enterprise Value to Invested Capital (EV/IC)	1.57	2.23	1.83	1.72	1.67	1.23	1.80	2.69	2.95	2.88
Enterprise Value to Revenue (EV/Rev)	3.86	8.82	6.34	192.82	5.11	4.24	5.75	4.95	5.73	7.67
Enterprise Value to EBITDA (EV/EBITDA)	147.32	17.64	9.45	6.50	7.20	6.74	8.26	6.17	7.21	10.42
Enterprise Value to EBIT (EV/EBIT)	0.00	84.96	15.77	9.05	10.57	10.98	11.01	6.80	8.01	12.19
Enterprise Value to NOPAT (EV/NOPAT)	0.00	83.75	15.83	8.98	10.59	10.99	11.03	6.80	8.00	12.18
Enterprise Value to Operating Cash Flow (EV/OCF)	5.32	11.70	9.67	7.42	6.04	5.15	8.04	7.73	6.50	8.55
Enterprise Value to Free Cash Flow (EV/FCFF)	7.02	0.00	0.00	19.42	6.09	3.30	9.26	8.01	6.88	12.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.07	0.44	0.37	0.39	0.37	0.12	0.09	0.01	0.00	0.02
Long-Term Debt to Equity	0.07	0.44	0.37	0.39	0.37	0.12	0.09	0.01	0.00	0.02
Financial Leverage	0.28	0.22	0.39	0.38	0.37	0.24	0.10	0.04	-0.02	-0.02
Leverage Ratio	1.38	1.34	1.49	1.45	1.43	1.29	1.17	1.11	1.05	1.06
Compound Leverage Factor	1.48	1.00	1.35	1.36	1.30	1.19	1.14	1.09	1.04	1.05
Debt to Total Capital	6.76%	30.34%	27.19%	27.93%	26.76%	10.56%	7.94%	1.11%	0.24%	2.33%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	6.76%	30.34%	27.19%	27.93%	26.76%	10.56%	7.94%	1.11%	0.24%	2.33%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	8.22%	5.28%	21.59%	17.88%	19.92%	25.20%	25.82%	24.39%	24.51%	25.98%
Common Equity to Total Capital	85.02%	64.38%	51.23%	54.19%	53.31%	64.24%	66.24%	74.50%	75.25%	71.69%
Debt to EBITDA	6.42	2.42	1.41	1.06	1.16	0.58	0.37	0.03	0.01	0.08
Net Debt to EBITDA	5.13	2.35	1.39	1.05	1.13	0.57	0.33	0.02	-0.14	0.08
Long-Term Debt to EBITDA	6.42	2.42	1.41	1.06	1.16	0.58	0.37	0.03	0.01	0.08
Debt to NOPAT	-0.98	11.50	2.37	1.46	1.70	0.95	0.49	0.03	0.01	0.10
Net Debt to NOPAT	-0.79	11.15	2.33	1.45	1.67	0.93	0.44	0.02	-0.16	0.09
Long-Term Debt to NOPAT	-0.98	11.50	2.37	1.46	1.70	0.95	0.49	0.03	0.01	0.10
Altman Z-Score	5.62	3.20	3.12	2.97	3.28	3.99	6.30	31.05	39.99	21.27
Noncontrolling Interest Sharing Ratio	14.00%	8.27%	20.83%	27.11%	25.95%	27.68%	28.11%	26.25%	24.62%	25.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.64	1.11	1.47	2.43	3.43	1.67	1.40	5.64	7.48	2.58
Quick Ratio	0.86	1.09	1.45	1.83	2.90	1.59	1.37	4.56	5.90	2.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	216	-41	-288	147	409	439	223	410	493	269
Operating Cash Flow to CapEx	243.98%	89.16%	58.51%	132.40%	370.81%	7,013.66%	1,767.08%	3,391.45%	2,705.27%	348.58%
Free Cash Flow to Firm to Interest Expense	33.65	-5.43	-18.36	7.10	19.07	42.21	39.56	65.21	178.92	86.59
Operating Cash Flow to Interest Expense	44.37	26.06	17.96	18.57	19.25	27.08	45.56	67.61	189.27	125.13
Operating Cash Flow Less CapEx to Interest Expense	26.18	-3.17	-12.74	4.54	14.06	26.69	42.98	65.61	182.27	89.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.24	0.32	0.01	0.30	0.25	0.29	0.53	0.47	0.35
Accounts Receivable Turnover	6.81	4.77	5.77	0.15	5.10	4.89	4.52	5.70	5.43	5.66
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.37	0.26	0.34	0.01	0.32	0.26	0.31	0.60	0.55	0.39
Accounts Payable Turnover	4.12	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	53.57	76.56	63.24	2,385.30	71.59	74.61	80.80	64.03	67.16	64.53
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	88.53	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	-34.96	76.56	63.24	2,385.30	71.59	74.61	80.80	64.03	67.16	64.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	963	1,032	1,492	1,663	1,490	1,182	1,147	1,219	1,150	1,154
Invested Capital Turnover	0.36	0.26	0.34	0.01	0.31	0.26	0.31	0.56	0.50	0.38
Increase / (Decrease) in Invested Capital	-283	68	460	171	-174	-307	-36	73	-69	3.91
Enterprise Value (EV)	1,516	2,301	2,725	2,860	2,491	1,452	2,066	3,283	3,390	3,326
Market Capitalization	1,383	1,939	2,000	2,101	1,800	1,030	1,685	2,975	3,159	3,001
Book Value per Share	$4.34	$3.51	$3.86	$4.12	$3.62	$3.43	$3.43	$4.07	$4.09	$3.68
Tangible Book Value per Share	$4.34	$3.51	$3.86	$4.12	$3.62	$3.43	$3.43	$4.07	$4.09	$3.68
Total Capital	977	1,042	1,498	1,669	1,498	1,184	1,155	1,223	1,220	1,156
Total Debt	66	316	407	466	401	125	92	14	2.89	27
Total Long-Term Debt	66	316	407	466	401	125	92	14	2.89	27
Net Debt	53	306	402	461	393	123	83	9.30	-67	24
Capital Expenditures (CapEx)	117	221	482	291	111	4.02	15	13	19	112
Debt-free, Cash-free Net Working Capital (DFCFNWC)	27	-2.11	22	87	64	25	22	138	97	46
Debt-free Net Working Capital (DFNWC)	41	7.66	28	93	72	27	31	143	167	48
Net Working Capital (NWC)	41	7.66	28	93	72	27	31	143	167	48
Net Nonoperating Expense (NNE)	35	7.28	15	23	21	10	5.34	6.02	1.05	1.78
Net Nonoperating Obligations (NNO)	53	306	402	461	393	123	83	9.30	-67	24
Total Depreciation and Amortization (D&A)	105	103	115	124	111	83	63	50	47	46
Debt-free, Cash-free Net Working Capital to Revenue	6.95%	-0.81%	5.18%	588.99%	13.20%	7.23%	6.11%	20.85%	16.38%	10.51%
Debt-free Net Working Capital to Revenue	10.32%	2.94%	6.50%	625.49%	14.86%	7.75%	8.58%	21.50%	28.25%	11.10%
Net Working Capital to Revenue	10.32%	2.94%	6.50%	625.49%	14.86%	7.75%	8.58%	21.50%	28.25%	11.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.15	$1.57	$2.71	$1.65	$0.49	$0.77	$2.18	$1.91	$1.15
Adjusted Weighted Average Basic Shares Outstanding	192.05M	191.21M	192.55M	202.16M	205.97M	206.71M	208.18M	209.38M	209.97M	210.68M
Adjusted Diluted Earnings per Share	$0.00	$0.15	$1.57	$2.70	$1.65	$0.49	$0.77	$2.12	$1.88	$1.15
Adjusted Weighted Average Diluted Shares Outstanding	192.05M	191.38M	192.55M	217.61M	206.12M	206.82M	208.29M	224.45M	225.11M	210.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	192.05M	192.32M	214.38M	0.00	220.66M	0.00	0.00	209.38M	209.97M	210.68M
Normalized Net Operating Profit after Tax (NOPAT)	104	24	120	223	165	111	129	338	296	191
Normalized NOPAT Margin	26.52%	9.19%	27.88%	1,502.69%	33.75%	32.49%	35.94%	50.89%	50.06%	44.08%
Pre Tax Income Margin	-25.78%	7.74%	36.58%	1,992.85%	43.94%	35.54%	50.66%	71.80%	71.35%	62.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-14.79	3.59	11.01	15.23	10.99	12.70	33.28	76.79	153.75	87.74
NOPAT to Interest Expense	-10.45	3.64	10.97	15.34	10.97	12.69	33.23	76.76	153.81	87.84
EBIT Less CapEx to Interest Expense	-32.98	-25.64	-19.68	1.21	5.80	12.32	30.70	74.80	146.76	51.84
NOPAT Less CapEx to Interest Expense	-28.64	-25.59	-19.73	1.32	5.78	12.31	30.65	74.76	146.81	51.95
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-217.44%	903.70%	126.43%	91.49%	153.20%	132.44%	108.76%	72.07%	99.36%	134.55%
Augmented Payout Ratio	-220.40%	1,039.60%	131.64%	95.07%	161.10%	136.58%	109.83%	72.70%	100.66%	136.19%

This table displays calculated financial ratios and metrics derived from Black Stone Minerals' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	261.76%	28.40%	379.29%	-35.13%	-49.27%	-17.16%	-39.57%	-6.30%	22.82%	-56.13%
EBITDA Growth	456.85%	32.04%	2,577.79%	-38.55%	-59.06%	-19.81%	-48.26%	-10.33%	39.88%	-63.32%
EBIT Growth	870.22%	36.55%	2,432.13%	-40.92%	-63.46%	-20.36%	-52.71%	-12.94%	49.75%	-67.94%
NOPAT Growth	871.50%	36.45%	3,460.15%	-40.81%	-63.55%	-20.20%	-52.68%	-13.04%	50.11%	-67.80%
Net Income Growth	941.38%	36.53%	2,020.07%	-40.52%	-63.16%	-19.42%	-52.45%	-12.85%	49.40%	-68.61%
EPS Growth	1,400.00%	35.48%	1,100.00%	-40.68%	-64.00%	-21.43%	-55.00%	-17.14%	51.85%	-72.73%
Operating Cash Flow Growth	87.41%	112.97%	66.10%	71.82%	7.66%	-14.27%	-23.84%	-24.68%	-20.11%	-32.18%
Free Cash Flow Firm Growth	709.74%	-34.41%	1,253.83%	-186.81%	-183.23%	92.90%	-187.99%	109.46%	106.59%	-79.88%
Invested Capital Growth	-92.14%	6.33%	-86.40%	11,745.40%	1,213.85%	-5.67%	685.21%	-2.89%	2.59%	0.34%
Revenue Q/Q Growth	19.99%	6.45%	-24.22%	-32.98%	-6.16%	73.81%	-44.72%	3.92%	23.02%	-37.91%
EBITDA Q/Q Growth	25.67%	8.87%	-26.35%	-39.02%	-16.27%	113.23%	-52.48%	5.70%	30.62%	-44.09%
EBIT Q/Q Growth	27.79%	8.85%	-27.06%	-41.77%	-20.96%	137.22%	-56.69%	7.20%	35.96%	-49.22%
NOPAT Q/Q Growth	27.91%	8.68%	-26.91%	-41.74%	-21.24%	137.94%	-56.66%	7.06%	35.96%	-48.97%
Net Income Q/Q Growth	27.84%	8.75%	-26.62%	-41.69%	-20.82%	137.88%	-56.70%	6.88%	35.73%	-50.02%
EPS Q/Q Growth	27.12%	12.00%	-28.57%	-41.67%	-22.86%	144.44%	-59.09%	7.41%	41.38%	-56.10%
Operating Cash Flow Q/Q Growth	39.77%	44.30%	-12.32%	-2.83%	-12.43%	14.91%	-22.11%	-3.90%	-7.12%	-2.45%
Free Cash Flow Firm Q/Q Growth	-6.13%	-90.39%	839.83%	-202.40%	10.01%	122.27%	-528.68%	111.01%	-37.34%	-31.95%
Invested Capital Q/Q Growth	763.39%	1,329.44%	-88.11%	707.28%	-4.24%	2.63%	-1.03%	-0.16%	1.17%	0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	84.42%	86.34%	83.92%	76.36%	68.13%	83.58%	71.85%	73.08%	77.59%	69.87%
Operating Margin	78.64%	80.29%	77.44%	67.32%	56.50%	77.34%	60.64%	62.48%	69.05%	56.76%
EBIT Margin	78.62%	80.39%	77.39%	67.23%	56.63%	77.29%	60.56%	62.47%	69.04%	56.48%
Profit (Net Income) Margin	77.84%	79.53%	77.01%	67.00%	56.53%	77.37%	60.60%	62.32%	68.76%	55.35%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	99.02%	98.93%	99.51%	99.65%	99.82%	100.10%	100.06%	99.76%	99.59%	98.01%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	82.38%	45.05%	102.57%	84.25%	59.20%	38.67%	49.45%	27.94%	32.90%	21.37%
ROIC Less NNEP Spread (ROIC-NNEP)	82.75%	41.24%	102.71%	84.32%	59.20%	38.51%	49.46%	28.44%	33.99%	26.84%
Return on Net Nonoperating Assets (RNNOA)	-36.81%	1.67%	-47.11%	-40.22%	-28.09%	-0.92%	-23.17%	-0.81%	-1.04%	-0.49%
Return on Equity (ROE)	45.57%	46.72%	55.46%	44.03%	31.11%	37.75%	26.28%	27.14%	31.86%	20.88%
Cash Return on Invested Capital (CROIC)	244.89%	34.65%	255.10%	-100.18%	-95.25%	41.60%	-99.89%	32.60%	30.32%	23.37%
Operating Return on Assets (OROA)	38.27%	42.36%	49.43%	39.35%	28.57%	36.07%	25.31%	26.12%	30.52%	19.71%
Return on Assets (ROA)	37.89%	41.90%	49.19%	39.22%	28.52%	36.11%	25.33%	26.06%	30.40%	19.32%
Return on Common Equity (ROCE)	32.66%	34.46%	40.66%	32.39%	23.02%	28.45%	19.76%	20.29%	23.71%	15.54%
Return on Equity Simple (ROE_SIMPLE)	51.92%	0.00%	65.75%	61.71%	52.36%	0.00%	40.22%	39.76%	42.94%	0.00%
Net Operating Profit after Tax (NOPAT)	170	185	135	79	62	148	64	68	93	48
NOPAT Margin	78.64%	80.29%	77.44%	67.32%	56.50%	77.34%	60.64%	62.48%	69.05%	56.76%
Net Nonoperating Expense Percent (NNEP)	-0.37%	3.81%	-0.15%	-0.07%	0.01%	0.15%	-0.01%	-0.50%	-1.09%	-5.47%
Return On Investment Capital (ROIC_SIMPLE)	-	20.00%	-	-	-	16.02%	-	-	-	5.55%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	6.03%	6.22%	7.24%	10.13%	13.16%	6.55%	13.36%	12.22%	9.49%	14.09%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.36%	19.71%	22.56%	32.68%	43.50%	22.66%	39.36%	37.52%	30.95%	43.24%
Earnings before Interest and Taxes (EBIT)	170	185	135	79	62	147	64	68	93	47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	183	199	147	89	75	160	76	80	105	59
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.73	3.26	3.35	3.29	3.72	3.44	3.85	3.84	3.67	3.62
Price to Tangible Book Value (P/TBV)	3.73	3.26	3.35	3.29	3.72	3.44	3.85	3.84	3.67	3.62
Price to Revenue (P/Rev)	5.01	4.48	3.93	4.08	5.15	5.33	6.43	6.40	5.88	6.92
Price to Earnings (P/E)	7.55	6.53	5.27	5.54	7.45	7.88	10.26	10.45	9.23	12.41
Dividend Yield	9.80%	11.62%	12.47%	12.69%	12.10%	13.54%	11.89%	11.49%	11.26%	11.24%
Earnings Yield	13.25%	15.31%	18.96%	18.05%	13.43%	12.69%	9.75%	9.57%	10.83%	8.06%
Enterprise Value to Invested Capital (EV/IC)	40.17	2.69	23.67	2.79	3.12	2.95	3.19	3.15	3.01	2.88
Enterprise Value to Revenue (EV/Rev)	5.59	4.95	4.28	4.42	5.54	5.73	6.94	6.94	6.40	7.67
Enterprise Value to EBITDA (EV/EBITDA)	7.08	6.17	5.10	5.29	6.87	7.21	9.09	9.17	8.24	10.42
Enterprise Value to EBIT (EV/EBIT)	7.91	6.80	5.50	5.74	7.59	8.01	10.30	10.46	9.29	12.19
Enterprise Value to NOPAT (EV/NOPAT)	7.91	6.80	5.50	5.74	7.59	8.00	10.30	10.46	9.28	12.18
Enterprise Value to Operating Cash Flow (EV/OCF)	10.02	7.73	7.16	6.10	6.44	6.50	7.43	7.85	8.01	8.55
Enterprise Value to Free Cash Flow (EV/FCFF)	2.39	8.01	2.22	0.00	0.00	6.88	0.00	9.52	10.06	12.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02
Long-Term Debt to Equity	0.06	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02
Financial Leverage	-0.44	0.04	-0.46	-0.48	-0.47	-0.02	-0.47	-0.03	-0.03	-0.02
Leverage Ratio	1.19	1.11	1.12	1.12	1.09	1.05	1.04	1.04	1.04	1.06
Compound Leverage Factor	1.18	1.10	1.12	1.11	1.09	1.05	1.04	1.04	1.04	1.04
Debt to Total Capital	5.22%	1.11%	0.30%	0.29%	0.27%	0.24%	0.23%	0.21%	0.19%	2.33%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	5.22%	1.11%	0.30%	0.29%	0.27%	0.24%	0.23%	0.21%	0.19%	2.33%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	25.21%	24.39%	24.02%	24.52%	25.36%	24.51%	25.50%	25.84%	25.67%	25.98%
Common Equity to Total Capital	69.57%	74.50%	75.68%	75.19%	74.37%	75.25%	74.27%	73.95%	74.14%	71.69%
Debt to EBITDA	0.13	0.03	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.08
Net Debt to EBITDA	0.13	0.02	-0.02	-0.07	-0.10	-0.14	-0.09	-0.06	-0.04	0.08
Long-Term Debt to EBITDA	0.13	0.03	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.08
Debt to NOPAT	0.14	0.03	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.10
Net Debt to NOPAT	0.14	0.02	-0.02	-0.08	-0.11	-0.16	-0.11	-0.07	-0.05	0.09
Long-Term Debt to NOPAT	0.14	0.03	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.10
Altman Z-Score	13.35	30.27	57.64	49.62	33.03	39.27	36.86	35.80	43.67	20.66
Noncontrolling Interest Sharing Ratio	28.32%	26.25%	26.68%	26.45%	26.00%	24.62%	24.81%	25.23%	25.57%	25.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.25	5.64	14.38	10.26	4.94	7.48	5.34	4.23	5.61	2.58
Quick Ratio	2.22	4.56	8.86	7.10	4.26	5.90	4.12	3.71	4.58	2.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,169	112	1,056	-1,081	-973	217	-929	102	64	44
Operating Cash Flow to CapEx	5,766.54%	29,076.77%	7,019.19%	19,891.04%	4,891.45%	940.64%	448.52%	376.95%	610.98%	195.92%
Free Cash Flow to Firm to Interest Expense	690.68	55.57	1,297.37	-1,676.67	-1,567.17	321.60	-1,477.24	163.40	88.53	38.60
Operating Cash Flow to Interest Expense	64.03	77.37	168.50	206.62	187.94	198.99	166.07	160.36	128.79	80.49
Operating Cash Flow Less CapEx to Interest Expense	62.92	77.10	166.09	205.58	184.10	177.83	129.05	117.82	107.71	39.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.49	0.53	0.64	0.59	0.50	0.47	0.42	0.42	0.44	0.35
Accounts Receivable Turnover	4.98	5.70	8.28	6.94	5.14	5.43	6.28	7.06	6.94	5.66
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.07	0.60	1.42	1.38	1.19	0.55	0.97	0.48	0.50	0.39
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	73.34	64.03	44.08	52.63	70.95	67.16	58.13	51.73	52.59	64.53
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	73.34	64.03	44.08	52.63	70.95	67.16	58.13	51.73	52.59	64.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	85	1,219	145	1,170	1,121	1,150	1,138	1,136	1,150	1,154
Invested Capital Turnover	1.05	0.56	1.32	1.25	1.05	0.50	0.82	0.45	0.48	0.38
Increase / (Decrease) in Invested Capital	-999	73	-921	1,160	1,035	-69	993	-34	29	3.91
Enterprise Value (EV)	3,426	3,283	3,431	3,266	3,500	3,390	3,629	3,578	3,463	3,326
Market Capitalization	3,067	2,975	3,149	3,011	3,255	3,159	3,366	3,302	3,181	3,001
Book Value per Share	$3.67	$4.07	$4.19	$4.07	$3.89	$4.09	$4.16	$3.82	$3.85	$3.68
Tangible Book Value per Share	$3.67	$4.07	$4.19	$4.07	$3.89	$4.09	$4.16	$3.82	$3.85	$3.68
Total Capital	1,183	1,223	1,242	1,217	1,177	1,220	1,179	1,163	1,171	1,156
Total Debt	62	14	3.71	3.51	3.18	2.89	2.76	2.50	2.22	27
Total Long-Term Debt	62	14	3.71	3.51	3.18	2.89	2.76	2.50	2.22	27
Net Debt	61	9.30	-15	-43	-53	-67	-38	-24	-19	24
Capital Expenditures (CapEx)	1.88	0.54	1.95	0.67	2.39	14	23	27	15	46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	89	138	152	109	77	97	78	61	69	46
Debt-free Net Working Capital (DFNWC)	89	143	171	155	133	167	119	87	90	48
Net Working Capital (NWC)	89	143	171	155	133	167	119	87	90	48
Net Nonoperating Expense (NNE)	1.73	1.75	0.76	0.37	-0.03	-0.05	0.05	0.17	0.39	1.18
Net Nonoperating Obligations (NNO)	-1,036	9.30	-1,093	-43	-53	-67	-38	-24	-19	24
Total Depreciation and Amortization (D&A)	13	14	11	11	13	12	12	12	12	11
Debt-free, Cash-free Net Working Capital to Revenue	14.46%	20.85%	18.94%	14.70%	12.21%	16.38%	14.97%	11.79%	12.73%	10.51%
Debt-free Net Working Capital to Revenue	14.60%	21.50%	21.33%	21.02%	21.08%	28.25%	22.71%	16.96%	16.60%	11.10%
Net Working Capital to Revenue	14.60%	21.50%	21.33%	21.02%	21.08%	28.25%	22.71%	16.96%	16.60%	11.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.78	$0.86	$0.62	$0.35	$0.27	$0.67	$0.27	$0.29	$0.41	$0.18
Adjusted Weighted Average Basic Shares Outstanding	209.40M	209.38M	209.94M	209.97M	209.98M	209.97M	210.65M	210.70M	210.69M	210.68M
Adjusted Diluted Earnings per Share	$0.75	$0.84	$0.60	$0.35	$0.27	$0.66	$0.27	$0.29	$0.41	$0.18
Adjusted Weighted Average Diluted Shares Outstanding	224.37M	224.45M	224.91M	209.97M	209.98M	225.11M	210.65M	210.70M	210.69M	210.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	209.40M	209.38M	209.94M	209.97M	209.98M	209.97M	210.65M	210.70M	210.69M	210.68M
Normalized Net Operating Profit after Tax (NOPAT)	119	129	95	55	43	103	45	48	65	33
Normalized NOPAT Margin	55.05%	56.20%	54.21%	47.12%	39.50%	54.14%	42.45%	43.73%	48.34%	39.73%
Pre Tax Income Margin	77.84%	79.53%	77.01%	67.00%	56.53%	77.37%	60.60%	62.32%	68.76%	55.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	100.50	91.60	165.97	121.96	100.12	218.84	101.57	109.40	128.61	41.85
NOPAT to Interest Expense	100.54	91.48	166.09	122.11	99.89	218.99	101.71	109.41	128.62	42.05
EBIT Less CapEx to Interest Expense	99.39	91.33	163.57	120.92	96.28	197.68	64.54	66.86	107.53	0.76
NOPAT Less CapEx to Interest Expense	99.42	91.21	163.69	121.07	96.05	197.84	64.68	66.87	107.54	0.97
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	70.50%	72.07%	62.55%	71.30%	90.44%	99.36%	119.56%	117.64%	102.97%	134.55%
Augmented Payout Ratio	71.20%	72.70%	63.44%	72.27%	91.64%	100.66%	120.81%	118.94%	104.16%	136.19%

Frequently Asked Questions About Black Stone Minerals' Financials

When does Black Stone Minerals's financial year end?

According to the most recent income statement we have on file, Black Stone Minerals' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Black Stone Minerals' net income changed over the last 9 years?

Black Stone Minerals' net income appears to be on an upward trend, with a most recent value of $271.33 million in 2024, falling from -$101.76 million in 2015. The previous period was $422.55 million in 2023.

What is Black Stone Minerals's operating income?

Black Stone Minerals's total operating income in 2024 was $273.11 million, based on the following breakdown:

Total Gross Profit: $433.70 million
Total Operating Expenses: $160.59 million

How has Black Stone Minerals revenue changed over the last 9 years?

Over the last 9 years, Black Stone Minerals' total revenue changed from $392.92 million in 2015 to $433.70 million in 2024, a change of 10.4%.

How much debt does Black Stone Minerals have?

Black Stone Minerals' total liabilities were at $89.47 million at the end of 2024, a 80.6% increase from 2023, and a 40.7% decrease since 2015.

How much cash does Black Stone Minerals have?

In the past 9 years, Black Stone Minerals' cash and equivalents has ranged from $1.80 million in 2020 to $70.28 million in 2023, and is currently $2.52 million as of their latest financial filing in 2024.

How has Black Stone Minerals' book value per share changed over the last 9 years?

Over the last 9 years, Black Stone Minerals' book value per share changed from 4.34 in 2015 to 3.68 in 2024, a change of -15.2%.

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This page (NYSE:BSM) was last updated on 4/14/2025 by MarketBeat.com Staff

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Black Stone Minerals (BSM) Financials

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Black Stone Minerals (BSM) Financials

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