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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and VAALCO ENERGY INC (EGY). 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 $91.0M, roughly 1.0× VAALCO ENERGY INC). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -64.4%, a 140.3% gap on every dollar of revenue. On growth, Black Stone Minerals, L.P. posted the faster year-over-year revenue change (-8.7% vs -25.2%). Over the past eight quarters, VAALCO ENERGY INC's revenue compounded faster (-4.7% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
VAALCO Energy is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston, Texas with operations primarily in the Etame Marin block offshore Gabon.
BSM vs EGY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $91.0M |
| Net Profit | $72.2M | $-58.6M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | -71.3% |
| Net Margin | 75.9% | -64.4% |
| Revenue YoY | -8.7% | -25.2% |
| Net Profit YoY | 55.8% | -602.5% |
| EPS (diluted) | — | $-0.56 |
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 | $91.0M | ||
| Q3 25 | $105.2M | $61.0M | ||
| Q2 25 | $106.7M | $96.9M | ||
| Q1 25 | $115.3M | $110.3M | ||
| Q4 24 | $104.3M | $121.7M | ||
| Q3 24 | $103.2M | $140.3M | ||
| Q2 24 | $115.2M | $116.8M | ||
| Q1 24 | $116.8M | $100.2M |
| Q4 25 | $72.2M | $-58.6M | ||
| Q3 25 | $91.7M | $1.1M | ||
| Q2 25 | $120.0M | $8.4M | ||
| Q1 25 | $15.9M | $7.7M | ||
| Q4 24 | $46.3M | $11.7M | ||
| Q3 24 | $92.7M | $11.0M | ||
| Q2 24 | $68.3M | $28.2M | ||
| Q1 24 | $63.9M | $7.7M |
| Q4 25 | 78.6% | -71.3% | ||
| Q3 25 | 89.5% | 1.5% | ||
| Q2 25 | — | 17.7% | ||
| Q1 25 | 14.9% | 23.7% | ||
| Q4 24 | 45.6% | 32.7% | ||
| Q3 24 | 90.2% | 31.4% | ||
| Q2 24 | 59.5% | 17.5% | ||
| Q1 24 | 54.8% | 32.1% |
| Q4 25 | 75.9% | -64.4% | ||
| Q3 25 | 87.2% | 1.8% | ||
| Q2 25 | 112.5% | 8.6% | ||
| Q1 25 | 13.8% | 7.0% | ||
| Q4 24 | 44.4% | 9.6% | ||
| Q3 24 | 89.9% | 7.8% | ||
| Q2 24 | 59.3% | 24.1% | ||
| Q1 24 | 54.7% | 7.7% |
| Q4 25 | — | $-0.56 | ||
| Q3 25 | — | $0.01 | ||
| Q2 25 | — | $0.08 | ||
| Q1 25 | — | $0.07 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $0.27 | ||
| Q1 24 | — | $0.07 |
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 | $58.9M |
| Total DebtLower is stronger | — | $60.0M |
| Stockholders' EquityBook value | — | $443.5M |
| Total Assets | $1.3B | $913.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $58.9M | ||
| Q3 25 | $2.9M | $24.0M | ||
| Q2 25 | $2.5M | $67.9M | ||
| Q1 25 | $2.4M | $40.9M | ||
| Q4 24 | $2.5M | $82.7M | ||
| Q3 24 | $21.0M | $89.1M | ||
| Q2 24 | $26.7M | $62.9M | ||
| Q1 24 | $40.5M | $113.3M |
| Q4 25 | — | $60.0M | ||
| Q3 25 | — | $60.0M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
| Q4 25 | — | $443.5M | ||
| Q3 25 | — | $505.9M | ||
| Q2 25 | — | $511.6M | ||
| Q1 25 | — | $504.1M | ||
| Q4 24 | — | $501.6M | ||
| Q3 24 | — | $501.0M | ||
| Q2 24 | — | $493.6M | ||
| Q1 24 | — | $472.6M |
| Q4 25 | $1.3B | $913.4M | ||
| Q3 25 | $1.3B | $950.4M | ||
| Q2 25 | $1.3B | $964.9M | ||
| Q1 25 | $1.2B | $927.1M | ||
| Q4 24 | $1.2B | $955.0M | ||
| Q3 24 | $1.2B | $937.9M | ||
| Q2 24 | $1.2B | $917.4M | ||
| Q1 24 | $1.2B | $809.1M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.12× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| 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 | $145.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $145.2M | ||
| Q3 25 | $99.8M | $16.4M | ||
| Q2 25 | $80.5M | $18.3M | ||
| Q1 25 | $64.8M | $32.7M | ||
| Q4 24 | $91.0M | $44.5M | ||
| Q3 24 | $93.2M | $47.8M | ||
| Q2 24 | $100.4M | $-438.0K | ||
| Q1 24 | $104.5M | $21.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $29.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 26.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | 14.94× | ||
| Q2 25 | 0.67× | 2.19× | ||
| Q1 25 | 4.07× | 4.23× | ||
| Q4 24 | 1.96× | 3.82× | ||
| Q3 24 | 1.01× | 4.35× | ||
| Q2 24 | 1.47× | -0.02× | ||
| Q1 24 | 1.63× | 2.84× |
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% |
EGY
| Crude Oil Sales And Purchase Agreements | $54.8M | 60% |
| Other | $31.9M | 35% |
| Crude Oil | $3.0M | 3% |
| Natural Gas Liquids Reserves | $1.4M | 2% |
