Black Stone Minerals, L.P.BSMEarnings & Financial Report
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
BSM Q4 FY2025 Key Financial Metrics
Revenue
$95.2M
Gross Profit
N/A
Operating Profit
$74.9M
Net Profit
$72.2M
Gross Margin
N/A
Operating Margin
78.6%
Net Margin
75.9%
YoY Growth
-8.7%
Black Stone Minerals, L.P. Q4 FY2025 Financial Summary
Black Stone Minerals, L.P. reported revenue of $95.2M (down 8.7% YoY) for Q4 FY2025, with a net profit of $72.2M (up 55.8% YoY) (75.9% margin).
Key Financial Metrics
| Total Revenue | $95.2M |
|---|---|
| Net Profit | $72.2M |
| Gross Margin | N/A |
| Operating Margin | 78.6% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
Black Stone Minerals, L.P. Q4 FY2025 revenue of $95.2M breaks down across 3 segments, led by Oil Reserves at $46.4M (48.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Oil Reserves | $46.4M | 48.7% |
| Natural Gas Reserves | $44.1M | 46.3% |
| Real Estate | $4.7M | 4.9% |
Black Stone Minerals, L.P. Revenue by Segment — Quarterly Trend
Black Stone Minerals, L.P. revenue by segment across the last 4 reported quarters, showing how each business line (such as Oil Reserves and Natural Gas Reserves) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Oil Reserves | $46.4M | $57.1M | $55.8M | $50.1M |
| Natural Gas Reserves | $44.1M | $43.1M | $46.2M | $58.2M |
| Real Estate | $4.7M | $5.0M | $4.7M | $6.9M |
Black Stone Minerals, L.P. Annual Revenue by Year
Black Stone Minerals, L.P. annual revenue history includes year-by-year totals (for example, 2025 revenue was $422.3M).
Black Stone Minerals, L.P. Quarterly Revenue & Net Profit History
Black Stone Minerals, L.P. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $95.2M | -8.7% | $72.2M | 75.9% |
| Q3 FY2025 | $105.2M | +1.9% | $91.7M | 87.2% |
| Q2 FY2025 | $106.7M | -7.3% | $120.0M | 112.5% |
| Q1 FY2025 | $115.3M | -1.3% | $15.9M | 13.8% |
| Q4 FY2024 | $104.3M | -23.5% | $46.3M | 44.4% |
| Q3 FY2024 | $103.2M | -24.5% | $92.7M | 89.9% |
| Q2 FY2024 | $115.2M | +9.0% | $68.3M | 59.3% |
| Q1 FY2024 | $116.8M | -4.5% | $63.9M | 54.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $116.8M | $115.2M | $103.2M | $104.3M | $115.3M | $106.7M | $105.2M | $95.2M |
| YoY Growth | -4.5% | 9.0% | -24.5% | -23.5% | -1.3% | -7.3% | 1.9% | -8.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.23B | $1.22B | $1.21B | $1.22B | $1.24B | $1.27B | $1.27B | $1.34B |
| Liabilities | $55.9M | $56.4M | $44.5M | $89.5M | $173.9M | $165.3M | $145.2M | $207.1M |
| Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $104.5M | $100.4M | $93.2M | $91.0M | $64.8M | $80.5M | $99.8M | $65.1M |