vs
Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Clarus Corp (CLAR). Click either name above to swap in a different company.
Black Stone Minerals, L.P. is the larger business by last-quarter revenue ($95.2M vs $65.4M, roughly 1.5× Clarus Corp). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -47.8%, a 123.7% gap on every dollar of revenue. On growth, Clarus Corp posted the faster year-over-year revenue change (-8.4% vs -8.7%). Over the past eight quarters, Clarus Corp's revenue compounded faster (-2.9% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
BSM vs CLAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $65.4M |
| Net Profit | $72.2M | $-31.3M |
| Gross Margin | — | 27.7% |
| Operating Margin | 78.6% | -59.6% |
| Net Margin | 75.9% | -47.8% |
| Revenue YoY | -8.7% | -8.4% |
| Net Profit YoY | 55.8% | 52.3% |
| EPS (diluted) | — | $-0.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $95.2M | $65.4M | ||
| Q3 25 | $105.2M | $69.3M | ||
| Q2 25 | $106.7M | $55.2M | ||
| Q1 25 | $115.3M | $60.4M | ||
| Q4 24 | $104.3M | $71.4M | ||
| Q3 24 | $103.2M | $67.1M | ||
| Q2 24 | $115.2M | $56.5M | ||
| Q1 24 | $116.8M | $69.3M |
| Q4 25 | $72.2M | $-31.3M | ||
| Q3 25 | $91.7M | $-1.6M | ||
| Q2 25 | $120.0M | $-8.4M | ||
| Q1 25 | $15.9M | $-5.2M | ||
| Q4 24 | $46.3M | $-65.5M | ||
| Q3 24 | $92.7M | $-3.2M | ||
| Q2 24 | $68.3M | $-5.5M | ||
| Q1 24 | $63.9M | $21.9M |
| Q4 25 | — | 27.7% | ||
| Q3 25 | — | 35.1% | ||
| Q2 25 | — | 35.6% | ||
| Q1 25 | — | 34.4% | ||
| Q4 24 | — | 33.4% | ||
| Q3 24 | — | 35.0% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 35.9% |
| Q4 25 | 78.6% | -59.6% | ||
| Q3 25 | 89.5% | -4.4% | ||
| Q2 25 | — | -19.7% | ||
| Q1 25 | 14.9% | -11.2% | ||
| Q4 24 | 45.6% | -70.2% | ||
| Q3 24 | 90.2% | -8.0% | ||
| Q2 24 | 59.5% | -14.4% | ||
| Q1 24 | 54.8% | -9.8% |
| Q4 25 | 75.9% | -47.8% | ||
| Q3 25 | 87.2% | -2.3% | ||
| Q2 25 | 112.5% | -15.3% | ||
| Q1 25 | 13.8% | -8.7% | ||
| Q4 24 | 44.4% | -91.8% | ||
| Q3 24 | 89.9% | -4.7% | ||
| Q2 24 | 59.3% | -9.7% | ||
| Q1 24 | 54.7% | 31.6% |
| Q4 25 | — | $-0.81 | ||
| Q3 25 | — | $-0.04 | ||
| Q2 25 | — | $-0.22 | ||
| Q1 25 | — | $-0.14 | ||
| Q4 24 | — | $-1.72 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | — | $-0.14 | ||
| Q1 24 | — | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5M | $36.7M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | — | $196.4M |
| Total Assets | $1.3B | $249.0M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $36.7M | ||
| Q3 25 | $2.9M | $29.5M | ||
| Q2 25 | $2.5M | $28.5M | ||
| Q1 25 | $2.4M | $41.3M | ||
| Q4 24 | $2.5M | $45.4M | ||
| Q3 24 | $21.0M | $36.4M | ||
| Q2 24 | $26.7M | $46.2M | ||
| Q1 24 | $40.5M | $47.5M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $1.9M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $1.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $37.0K |
| Q4 25 | — | $196.4M | ||
| Q3 25 | — | $225.8M | ||
| Q2 25 | — | $225.1M | ||
| Q1 25 | — | $229.3M | ||
| Q4 24 | — | $233.1M | ||
| Q3 24 | — | $308.5M | ||
| Q2 24 | — | $307.3M | ||
| Q1 24 | — | $310.4M |
| Q4 25 | $1.3B | $249.0M | ||
| Q3 25 | $1.3B | $283.1M | ||
| Q2 25 | $1.3B | $286.5M | ||
| Q1 25 | $1.2B | $292.8M | ||
| Q4 24 | $1.2B | $294.1M | ||
| Q3 24 | $1.2B | $375.3M | ||
| Q2 24 | $1.2B | $369.4M | ||
| Q1 24 | $1.2B | $377.0M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.00× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $65.1M | $12.5M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 17.7% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $12.5M | ||
| Q3 25 | $99.8M | $-5.7M | ||
| Q2 25 | $80.5M | $-9.4M | ||
| Q1 25 | $64.8M | $-2.1M | ||
| Q4 24 | $91.0M | $16.6M | ||
| Q3 24 | $93.2M | $-8.3M | ||
| Q2 24 | $100.4M | $834.0K | ||
| Q1 24 | $104.5M | $-16.4M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | — | $-7.0M | ||
| Q2 25 | — | $-11.3M | ||
| Q1 25 | — | $-3.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | — | $-9.4M | ||
| Q2 24 | — | $-744.0K | ||
| Q1 24 | — | $-18.3M |
| Q4 25 | — | 17.7% | ||
| Q3 25 | — | -10.0% | ||
| Q2 25 | — | -20.4% | ||
| Q1 25 | — | -5.4% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | — | -14.0% | ||
| Q2 24 | — | -1.3% | ||
| Q1 24 | — | -26.3% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 4.07× | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.63× | -0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BSM
| Oil Reserves | $46.4M | 49% |
| Natural Gas Reserves | $44.1M | 46% |
| Real Estate | $4.7M | 5% |
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
