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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Four Corners Property Trust, Inc. (FCPT). 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 $78.2M, roughly 1.2× Four Corners Property Trust, Inc.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 38.8%, a 37.0% gap on every dollar of revenue. On growth, Four Corners Property Trust, Inc. posted the faster year-over-year revenue change (9.4% vs -8.7%). Over the past eight quarters, Four Corners Property Trust, Inc.'s revenue compounded faster (8.4% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
BSM vs FCPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $78.2M |
| Net Profit | $72.2M | $30.4M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | 55.3% |
| Net Margin | 75.9% | 38.8% |
| Revenue YoY | -8.7% | 9.4% |
| Net Profit YoY | 55.8% | 16.0% |
| EPS (diluted) | — | $0.28 |
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.
| Q1 26 | — | $78.2M | ||
| Q4 25 | $95.2M | $75.7M | ||
| Q3 25 | $105.2M | $74.1M | ||
| Q2 25 | $106.7M | $72.8M | ||
| Q1 25 | $115.3M | $71.5M | ||
| Q4 24 | $104.3M | $68.3M | ||
| Q3 24 | $103.2M | $66.8M | ||
| Q2 24 | $115.2M | $66.5M |
| Q1 26 | — | $30.4M | ||
| Q4 25 | $72.2M | $29.4M | ||
| Q3 25 | $91.7M | $28.8M | ||
| Q2 25 | $120.0M | $27.9M | ||
| Q1 25 | $15.9M | $26.2M | ||
| Q4 24 | $46.3M | $26.2M | ||
| Q3 24 | $92.7M | $25.6M | ||
| Q2 24 | $68.3M | $24.7M |
| Q1 26 | — | 55.3% | ||
| Q4 25 | 78.6% | — | ||
| Q3 25 | 89.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 45.6% | — | ||
| Q3 24 | 90.2% | — | ||
| Q2 24 | 59.5% | — |
| Q1 26 | — | 38.8% | ||
| Q4 25 | 75.9% | 38.9% | ||
| Q3 25 | 87.2% | 38.9% | ||
| Q2 25 | 112.5% | 38.3% | ||
| Q1 25 | 13.8% | 36.6% | ||
| Q4 24 | 44.4% | 38.3% | ||
| Q3 24 | 89.9% | 38.3% | ||
| Q2 24 | 59.3% | 37.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | — | $0.27 | ||
| Q3 25 | — | $0.28 | ||
| Q2 25 | — | $0.28 | ||
| Q1 25 | — | $0.26 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | — | $0.27 | ||
| Q2 24 | — | $0.27 |
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 | $29.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $1.7B |
| Total Assets | $1.3B | $3.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.6M | ||
| Q4 25 | $1.5M | $12.1M | ||
| Q3 25 | $2.9M | $6.7M | ||
| Q2 25 | $2.5M | $6.0M | ||
| Q1 25 | $2.4M | $22.3M | ||
| Q4 24 | $2.5M | $4.1M | ||
| Q3 24 | $21.0M | $44.5M | ||
| Q2 24 | $26.7M | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $1.3B | $2.9B | ||
| Q3 25 | $1.3B | $2.8B | ||
| Q2 25 | $1.3B | $2.8B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.2B | $2.7B | ||
| Q3 24 | $1.2B | $2.6B | ||
| Q2 24 | $1.2B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.79× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | 0.84× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.92× |
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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $65.1M | $192.3M | ||
| Q3 25 | $99.8M | $48.9M | ||
| Q2 25 | $80.5M | $43.8M | ||
| Q1 25 | $64.8M | $51.6M | ||
| Q4 24 | $91.0M | $144.1M | ||
| Q3 24 | $93.2M | $43.4M | ||
| Q2 24 | $100.4M | $39.7M |
| Q1 26 | — | — | ||
| Q4 25 | 0.90× | 6.53× | ||
| Q3 25 | 1.09× | 1.70× | ||
| Q2 25 | 0.67× | 1.57× | ||
| Q1 25 | 4.07× | 1.97× | ||
| Q4 24 | 1.96× | 5.51× | ||
| Q3 24 | 1.01× | 1.70× | ||
| Q2 24 | 1.47× | 1.61× |
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% |
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
