vs
Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $95.2M, roughly 1.1× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 11.6%, a 64.2% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs -8.7%). Over the past eight quarters, CARRIAGE SERVICES INC's revenue compounded faster (1.0% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
BSM vs CSV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $105.5M |
| Net Profit | $72.2M | $12.3M |
| Gross Margin | — | 34.8% |
| Operating Margin | 78.6% | 23.3% |
| Net Margin | 75.9% | 11.6% |
| Revenue YoY | -8.7% | 8.0% |
| Net Profit YoY | 55.8% | 24.5% |
| EPS (diluted) | — | $0.76 |
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 | $105.5M | ||
| Q3 25 | $105.2M | $102.7M | ||
| Q2 25 | $106.7M | $102.1M | ||
| Q1 25 | $115.3M | $107.1M | ||
| Q4 24 | $104.3M | $97.7M | ||
| Q3 24 | $103.2M | $100.7M | ||
| Q2 24 | $115.2M | $102.3M | ||
| Q1 24 | $116.8M | $103.5M |
| Q4 25 | $72.2M | $12.3M | ||
| Q3 25 | $91.7M | $6.6M | ||
| Q2 25 | $120.0M | $11.7M | ||
| Q1 25 | $15.9M | $20.9M | ||
| Q4 24 | $46.3M | $9.9M | ||
| Q3 24 | $92.7M | $9.9M | ||
| Q2 24 | $68.3M | $6.3M | ||
| Q1 24 | $63.9M | $7.0M |
| Q4 25 | — | 34.8% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | — | 35.3% | ||
| Q4 24 | — | 34.4% | ||
| Q3 24 | — | 35.2% | ||
| Q2 24 | — | 36.2% | ||
| Q1 24 | — | 36.0% |
| Q4 25 | 78.6% | 23.3% | ||
| Q3 25 | 89.5% | 17.0% | ||
| Q2 25 | — | 23.5% | ||
| Q1 25 | 14.9% | 29.5% | ||
| Q4 24 | 45.6% | 21.6% | ||
| Q3 24 | 90.2% | 22.7% | ||
| Q2 24 | 59.5% | 18.0% | ||
| Q1 24 | 54.8% | 18.8% |
| Q4 25 | 75.9% | 11.6% | ||
| Q3 25 | 87.2% | 6.4% | ||
| Q2 25 | 112.5% | 11.5% | ||
| Q1 25 | 13.8% | 19.5% | ||
| Q4 24 | 44.4% | 10.1% | ||
| Q3 24 | 89.9% | 9.8% | ||
| Q2 24 | 59.3% | 6.1% | ||
| Q1 24 | 54.7% | 6.7% |
| Q4 25 | — | $0.76 | ||
| Q3 25 | — | $0.41 | ||
| Q2 25 | — | $0.74 | ||
| Q1 25 | — | $1.34 | ||
| Q4 24 | — | $0.62 | ||
| Q3 24 | — | $0.63 | ||
| Q2 24 | — | $0.40 | ||
| Q1 24 | — | $0.45 |
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 | $1.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $254.8M |
| Total Assets | $1.3B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $1.7M | ||
| Q3 25 | $2.9M | $1.2M | ||
| Q2 25 | $2.5M | $1.4M | ||
| Q1 25 | $2.4M | $4.6M | ||
| Q4 24 | $2.5M | $1.2M | ||
| Q3 24 | $21.0M | $1.3M | ||
| Q2 24 | $26.7M | $1.5M | ||
| Q1 24 | $40.5M | $1.7M |
| Q4 25 | — | $254.8M | ||
| Q3 25 | — | $242.1M | ||
| Q2 25 | — | $235.4M | ||
| Q1 25 | — | $223.1M | ||
| Q4 24 | — | $208.6M | ||
| Q3 24 | — | $198.1M | ||
| Q2 24 | — | $187.9M | ||
| Q1 24 | — | $179.6M |
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $1.2B | $1.3B | ||
| Q1 24 | $1.2B | $1.3B |
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 | $14.1M |
| Free Cash FlowOCF − Capex | — | $6.2M |
| FCF MarginFCF / Revenue | — | 5.9% |
| Capex IntensityCapex / Revenue | — | 7.5% |
| Cash ConversionOCF / Net Profit | 0.90× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $14.1M | ||
| Q3 25 | $99.8M | $24.7M | ||
| Q2 25 | $80.5M | $8.1M | ||
| Q1 25 | $64.8M | $13.8M | ||
| Q4 24 | $91.0M | $9.3M | ||
| Q3 24 | $93.2M | $20.9M | ||
| Q2 24 | $100.4M | $2.2M | ||
| Q1 24 | $104.5M | $19.7M |
| Q4 25 | — | $6.2M | ||
| Q3 25 | — | $18.0M | ||
| Q2 25 | — | $5.2M | ||
| Q1 25 | — | $10.6M | ||
| Q4 24 | — | $4.9M | ||
| Q3 24 | — | $16.2M | ||
| Q2 24 | — | $-1.4M | ||
| Q1 24 | — | $16.2M |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | 17.5% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 16.1% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | 15.6% |
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 3.4% |
| Q4 25 | 0.90× | 1.15× | ||
| Q3 25 | 1.09× | 3.76× | ||
| Q2 25 | 0.67× | 0.69× | ||
| Q1 25 | 4.07× | 0.66× | ||
| Q4 24 | 1.96× | 0.94× | ||
| Q3 24 | 1.01× | 2.11× | ||
| Q2 24 | 1.47× | 0.34× | ||
| Q1 24 | 1.63× | 2.83× |
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% |
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
