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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Donnelley Financial Solutions, Inc. (DFIN). Click either name above to swap in a different company.
Donnelley Financial Solutions, Inc. is the larger business by last-quarter revenue ($172.5M vs $95.2M, roughly 1.8× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 3.6%, a 72.3% gap on every dollar of revenue. On growth, Donnelley Financial Solutions, Inc. posted the faster year-over-year revenue change (10.4% vs -8.7%). Over the past eight quarters, Donnelley Financial Solutions, Inc.'s revenue compounded faster (-7.9% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
BSM vs DFIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $172.5M |
| Net Profit | $72.2M | $6.2M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | 8.3% |
| Net Margin | 75.9% | 3.6% |
| Revenue YoY | -8.7% | 10.4% |
| Net Profit YoY | 55.8% | -1.6% |
| EPS (diluted) | — | $0.31 |
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 | $172.5M | ||
| Q3 25 | $105.2M | $175.3M | ||
| Q2 25 | $106.7M | $218.1M | ||
| Q1 25 | $115.3M | $201.1M | ||
| Q4 24 | $104.3M | $156.3M | ||
| Q3 24 | $103.2M | $179.5M | ||
| Q2 24 | $115.2M | $242.7M | ||
| Q1 24 | $116.8M | $203.4M |
| Q4 25 | $72.2M | $6.2M | ||
| Q3 25 | $91.7M | $-40.9M | ||
| Q2 25 | $120.0M | $36.1M | ||
| Q1 25 | $15.9M | $31.0M | ||
| Q4 24 | $46.3M | $6.3M | ||
| Q3 24 | $92.7M | $8.7M | ||
| Q2 24 | $68.3M | $44.1M | ||
| Q1 24 | $63.9M | $33.3M |
| Q4 25 | 78.6% | 8.3% | ||
| Q3 25 | 89.5% | 16.1% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | 14.9% | 22.8% | ||
| Q4 24 | 45.6% | 6.0% | ||
| Q3 24 | 90.2% | 10.1% | ||
| Q2 24 | 59.5% | 26.6% | ||
| Q1 24 | 54.8% | 21.9% |
| Q4 25 | 75.9% | 3.6% | ||
| Q3 25 | 87.2% | -23.3% | ||
| Q2 25 | 112.5% | 16.6% | ||
| Q1 25 | 13.8% | 15.4% | ||
| Q4 24 | 44.4% | 4.0% | ||
| Q3 24 | 89.9% | 4.8% | ||
| Q2 24 | 59.3% | 18.2% | ||
| Q1 24 | 54.7% | 16.4% |
| Q4 25 | — | $0.31 | ||
| Q3 25 | — | $-1.49 | ||
| Q2 25 | — | $1.28 | ||
| Q1 25 | — | $1.05 | ||
| Q4 24 | — | $0.21 | ||
| Q3 24 | — | $0.29 | ||
| Q2 24 | — | $1.47 | ||
| Q1 24 | — | $1.09 |
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 | $24.5M |
| Total DebtLower is stronger | — | $171.3M |
| Stockholders' EquityBook value | — | $379.2M |
| Total Assets | $1.3B | $800.4M |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $24.5M | ||
| Q3 25 | $2.9M | $22.7M | ||
| Q2 25 | $2.5M | $33.8M | ||
| Q1 25 | $2.4M | $16.2M | ||
| Q4 24 | $2.5M | $57.3M | ||
| Q3 24 | $21.0M | $33.6M | ||
| Q2 24 | $26.7M | $35.0M | ||
| Q1 24 | $40.5M | $43.7M |
| Q4 25 | — | $171.3M | ||
| Q3 25 | — | $154.7M | ||
| Q2 25 | — | $190.1M | ||
| Q1 25 | — | $189.5M | ||
| Q4 24 | — | $124.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $379.2M | ||
| Q3 25 | — | $423.1M | ||
| Q2 25 | — | $432.1M | ||
| Q1 25 | — | $419.9M | ||
| Q4 24 | — | $436.1M | ||
| Q3 24 | — | $444.5M | ||
| Q2 24 | — | $441.5M | ||
| Q1 24 | — | $408.9M |
| Q4 25 | $1.3B | $800.4M | ||
| Q3 25 | $1.3B | $816.3M | ||
| Q2 25 | $1.3B | $874.7M | ||
| Q1 25 | $1.2B | $852.8M | ||
| Q4 24 | $1.2B | $841.6M | ||
| Q3 24 | $1.2B | $843.6M | ||
| Q2 24 | $1.2B | $882.9M | ||
| Q1 24 | $1.2B | $867.8M |
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $59.8M |
| Free Cash FlowOCF − Capex | — | $47.9M |
| FCF MarginFCF / Revenue | — | 27.8% |
| Capex IntensityCapex / Revenue | — | 6.9% |
| Cash ConversionOCF / Net Profit | 0.90× | 9.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $107.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $59.8M | ||
| Q3 25 | $99.8M | $74.4M | ||
| Q2 25 | $80.5M | $68.4M | ||
| Q1 25 | $64.8M | $-37.7M | ||
| Q4 24 | $91.0M | $56.4M | ||
| Q3 24 | $93.2M | $86.4M | ||
| Q2 24 | $100.4M | $56.2M | ||
| Q1 24 | $104.5M | $-27.9M |
| Q4 25 | — | $47.9M | ||
| Q3 25 | — | $59.2M | ||
| Q2 25 | — | $51.7M | ||
| Q1 25 | — | $-51.0M | ||
| Q4 24 | — | $41.3M | ||
| Q3 24 | — | $67.3M | ||
| Q2 24 | — | $36.8M | ||
| Q1 24 | — | $-40.2M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 33.8% | ||
| Q2 25 | — | 23.7% | ||
| Q1 25 | — | -25.4% | ||
| Q4 24 | — | 26.4% | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 15.2% | ||
| Q1 24 | — | -19.8% |
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 6.6% | ||
| Q4 24 | — | 9.7% | ||
| Q3 24 | — | 10.6% | ||
| Q2 24 | — | 8.0% | ||
| Q1 24 | — | 6.0% |
| Q4 25 | 0.90× | 9.65× | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | 1.89× | ||
| Q1 25 | 4.07× | -1.22× | ||
| Q4 24 | 1.96× | 8.95× | ||
| Q3 24 | 1.01× | 9.93× | ||
| Q2 24 | 1.47× | 1.27× | ||
| Q1 24 | 1.63× | -0.84× |
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% |
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
