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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and JFrog Ltd (FROG). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $95.2M, roughly 1.5× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -10.5%, a 86.4% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs -8.7%). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
BSM vs FROG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $145.3M |
| Net Profit | $72.2M | $-15.2M |
| Gross Margin | — | 77.9% |
| Operating Margin | 78.6% | -14.7% |
| Net Margin | 75.9% | -10.5% |
| Revenue YoY | -8.7% | 25.2% |
| Net Profit YoY | 55.8% | 34.4% |
| EPS (diluted) | — | $-0.13 |
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 | $145.3M | ||
| Q3 25 | $105.2M | $136.9M | ||
| Q2 25 | $106.7M | $127.2M | ||
| Q1 25 | $115.3M | $122.4M | ||
| Q4 24 | $104.3M | $116.1M | ||
| Q3 24 | $103.2M | $109.1M | ||
| Q2 24 | $115.2M | $103.0M | ||
| Q1 24 | $116.8M | $100.3M |
| Q4 25 | $72.2M | $-15.2M | ||
| Q3 25 | $91.7M | $-16.4M | ||
| Q2 25 | $120.0M | $-21.7M | ||
| Q1 25 | $15.9M | $-18.5M | ||
| Q4 24 | $46.3M | $-23.2M | ||
| Q3 24 | $92.7M | $-22.9M | ||
| Q2 24 | $68.3M | $-14.3M | ||
| Q1 24 | $63.9M | $-8.8M |
| Q4 25 | — | 77.9% | ||
| Q3 25 | — | 77.4% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 75.3% | ||
| Q4 24 | — | 75.4% | ||
| Q3 24 | — | 75.0% | ||
| Q2 24 | — | 78.8% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 78.6% | -14.7% | ||
| Q3 25 | 89.5% | -15.8% | ||
| Q2 25 | — | -20.4% | ||
| Q1 25 | 14.9% | -18.8% | ||
| Q4 24 | 45.6% | -21.9% | ||
| Q3 24 | 90.2% | -27.4% | ||
| Q2 24 | 59.5% | -18.6% | ||
| Q1 24 | 54.8% | -16.6% |
| Q4 25 | 75.9% | -10.5% | ||
| Q3 25 | 87.2% | -12.0% | ||
| Q2 25 | 112.5% | -17.0% | ||
| Q1 25 | 13.8% | -15.1% | ||
| Q4 24 | 44.4% | -20.0% | ||
| Q3 24 | 89.9% | -21.0% | ||
| Q2 24 | 59.3% | -13.9% | ||
| Q1 24 | 54.7% | -8.8% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.14 | ||
| Q2 25 | — | $-0.19 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.21 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | — | $-0.13 | ||
| Q1 24 | — | $-0.08 |
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 | $704.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $887.4M |
| Total Assets | $1.3B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $704.4M | ||
| Q3 25 | $2.9M | $651.1M | ||
| Q2 25 | $2.5M | $611.7M | ||
| Q1 25 | $2.4M | $563.5M | ||
| Q4 24 | $2.5M | $522.0M | ||
| Q3 24 | $21.0M | $467.8M | ||
| Q2 24 | $26.7M | $591.3M | ||
| Q1 24 | $40.5M | $579.6M |
| Q4 25 | — | $887.4M | ||
| Q3 25 | — | $859.4M | ||
| Q2 25 | — | $826.5M | ||
| Q1 25 | — | $800.0M | ||
| Q4 24 | — | $773.5M | ||
| Q3 24 | — | $756.2M | ||
| Q2 24 | — | $721.4M | ||
| Q1 24 | — | $707.8M |
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.0B | ||
| Q1 24 | $1.2B | $997.1M |
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 | $50.7M |
| Free Cash FlowOCF − Capex | — | $49.9M |
| FCF MarginFCF / Revenue | — | 34.3% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $142.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $50.7M | ||
| Q3 25 | $99.8M | $30.2M | ||
| Q2 25 | $80.5M | $36.1M | ||
| Q1 25 | $64.8M | $28.8M | ||
| Q4 24 | $91.0M | $49.1M | ||
| Q3 24 | $93.2M | $27.6M | ||
| Q2 24 | $100.4M | $16.7M | ||
| Q1 24 | $104.5M | $17.5M |
| Q4 25 | — | $49.9M | ||
| Q3 25 | — | $28.8M | ||
| Q2 25 | — | $35.5M | ||
| Q1 25 | — | $28.1M | ||
| Q4 24 | — | $48.5M | ||
| Q3 24 | — | $26.7M | ||
| Q2 24 | — | $16.0M | ||
| Q1 24 | — | $16.6M |
| Q4 25 | — | 34.3% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 23.0% | ||
| Q4 24 | — | 41.8% | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 4.07× | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.47× | — | ||
| Q1 24 | 1.63× | — |
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% |
FROG
Segment breakdown not available.
