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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and First Foundation Inc. (FFWM). 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 $48.4M, roughly 2.0× First Foundation Inc.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -97.9%, a 173.8% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs -8.7%). Over the past eight quarters, First Foundation Inc.'s revenue compounded faster (-2.7% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
BSM vs FFWM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $48.4M |
| Net Profit | $72.2M | $-8.0M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | -97.5% |
| Net Margin | 75.9% | -97.9% |
| Revenue YoY | -8.7% | 421.7% |
| Net Profit YoY | 55.8% | 43.0% |
| EPS (diluted) | — | $-0.09 |
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 | $48.4M | ||
| Q3 25 | $105.2M | $63.6M | ||
| Q2 25 | $106.7M | $51.4M | ||
| Q1 25 | $115.3M | $71.4M | ||
| Q4 24 | $104.3M | $9.3M | ||
| Q3 24 | $103.2M | $9.2M | ||
| Q2 24 | $115.2M | $57.5M | ||
| Q1 24 | $116.8M | $51.1M |
| Q4 25 | $72.2M | $-8.0M | ||
| Q3 25 | $91.7M | $-146.3M | ||
| Q2 25 | $120.0M | $-7.7M | ||
| Q1 25 | $15.9M | $6.9M | ||
| Q4 24 | $46.3M | $-14.1M | ||
| Q3 24 | $92.7M | $-82.2M | ||
| Q2 24 | $68.3M | $3.1M | ||
| Q1 24 | $63.9M | $793.0K |
| Q4 25 | 78.6% | -97.5% | ||
| Q3 25 | 89.5% | -92.7% | ||
| Q2 25 | — | -21.1% | ||
| Q1 25 | 14.9% | 8.8% | ||
| Q4 24 | 45.6% | -247.7% | ||
| Q3 24 | 90.2% | -1276.7% | ||
| Q2 24 | 59.5% | 4.6% | ||
| Q1 24 | 54.8% | -0.2% |
| Q4 25 | 75.9% | -97.9% | ||
| Q3 25 | 87.2% | -230.1% | ||
| Q2 25 | 112.5% | -15.0% | ||
| Q1 25 | 13.8% | 9.7% | ||
| Q4 24 | 44.4% | -152.2% | ||
| Q3 24 | 89.9% | -896.9% | ||
| Q2 24 | 59.3% | 5.4% | ||
| Q1 24 | 54.7% | 1.6% |
| Q4 25 | — | $-0.09 | ||
| Q3 25 | — | $-1.78 | ||
| Q2 25 | — | $-0.09 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-1.23 | ||
| Q2 24 | — | $0.05 | ||
| Q1 24 | — | $0.01 |
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 | $1.6B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $912.6M |
| Total Assets | $1.3B | $11.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $1.6B | ||
| Q3 25 | $2.9M | $1.7B | ||
| Q2 25 | $2.5M | $1.1B | ||
| Q1 25 | $2.4M | $1.0B | ||
| Q4 24 | $2.5M | $1.0B | ||
| Q3 24 | $21.0M | $1.1B | ||
| Q2 24 | $26.7M | $1.4B | ||
| Q1 24 | $40.5M | $1.6B |
| Q4 25 | — | $912.6M | ||
| Q3 25 | — | $917.9M | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $933.2M | ||
| Q1 24 | — | $928.7M |
| Q4 25 | $1.3B | $11.9B | ||
| Q3 25 | $1.3B | $11.9B | ||
| Q2 25 | $1.3B | $11.6B | ||
| Q1 25 | $1.2B | $12.6B | ||
| Q4 24 | $1.2B | $12.6B | ||
| Q3 24 | $1.2B | $13.4B | ||
| Q2 24 | $1.2B | $13.7B | ||
| Q1 24 | $1.2B | $13.6B |
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 | $-31.9M |
| Free Cash FlowOCF − Capex | — | $-35.2M |
| FCF MarginFCF / Revenue | — | -72.8% |
| Capex IntensityCapex / Revenue | — | 6.9% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-45.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $-31.9M | ||
| Q3 25 | $99.8M | $9.2M | ||
| Q2 25 | $80.5M | $-16.3M | ||
| Q1 25 | $64.8M | $-552.0K | ||
| Q4 24 | $91.0M | $-8.7M | ||
| Q3 24 | $93.2M | $14.2M | ||
| Q2 24 | $100.4M | $-9.1M | ||
| Q1 24 | $104.5M | $7.2M |
| Q4 25 | — | $-35.2M | ||
| Q3 25 | — | $8.6M | ||
| Q2 25 | — | $-16.7M | ||
| Q1 25 | — | $-2.5M | ||
| Q4 24 | — | $-11.4M | ||
| Q3 24 | — | $13.4M | ||
| Q2 24 | — | $-9.4M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | — | -72.8% | ||
| Q3 25 | — | 13.5% | ||
| Q2 25 | — | -32.4% | ||
| Q1 25 | — | -3.5% | ||
| Q4 24 | — | -123.5% | ||
| Q3 24 | — | 146.2% | ||
| Q2 24 | — | -16.3% | ||
| Q1 24 | — | 11.6% |
| Q4 25 | — | 6.9% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 9.0% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 4.07× | -0.08× | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.47× | -2.96× | ||
| Q1 24 | 1.63× | 9.09× |
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% |
FFWM
Segment breakdown not available.
