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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and GCM Grosvenor Inc. (GCMG). Click either name above to swap in a different company.
GCM Grosvenor Inc. is the larger business by last-quarter revenue ($177.1M vs $95.2M, roughly 1.9× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 32.8%, a 43.0% gap on every dollar of revenue. On growth, GCM Grosvenor Inc. posted the faster year-over-year revenue change (7.2% vs -8.7%). Over the past eight quarters, GCM Grosvenor Inc.'s revenue compounded faster (27.5% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
BSM vs GCMG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $177.1M |
| Net Profit | $72.2M | $58.2M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | 30.9% |
| Net Margin | 75.9% | 32.8% |
| Revenue YoY | -8.7% | 7.2% |
| Net Profit YoY | 55.8% | 149.2% |
| EPS (diluted) | — | $0.23 |
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 | $177.1M | ||
| Q3 25 | $105.2M | $135.0M | ||
| Q2 25 | $106.7M | $119.7M | ||
| Q1 25 | $115.3M | $125.8M | ||
| Q4 24 | $104.3M | $165.3M | ||
| Q3 24 | $103.2M | $122.9M | ||
| Q2 24 | $115.2M | $117.0M | ||
| Q1 24 | $116.8M | $108.9M |
| Q4 25 | $72.2M | $58.2M | ||
| Q3 25 | $91.7M | $10.5M | ||
| Q2 25 | $120.0M | $15.4M | ||
| Q1 25 | $15.9M | $463.0K | ||
| Q4 24 | $46.3M | $7.6M | ||
| Q3 24 | $92.7M | $4.2M | ||
| Q2 24 | $68.3M | $4.8M | ||
| Q1 24 | $63.9M | $2.1M |
| Q4 25 | 78.6% | 30.9% | ||
| Q3 25 | 89.5% | 32.7% | ||
| Q2 25 | — | 16.1% | ||
| Q1 25 | 14.9% | 12.2% | ||
| Q4 24 | 45.6% | 26.4% | ||
| Q3 24 | 90.2% | 20.3% | ||
| Q2 24 | 59.5% | 17.8% | ||
| Q1 24 | 54.8% | -14.7% |
| Q4 25 | 75.9% | 32.8% | ||
| Q3 25 | 87.2% | 7.8% | ||
| Q2 25 | 112.5% | 12.9% | ||
| Q1 25 | 13.8% | 0.4% | ||
| Q4 24 | 44.4% | 4.6% | ||
| Q3 24 | 89.9% | 3.4% | ||
| Q2 24 | 59.3% | 4.1% | ||
| Q1 24 | 54.7% | 2.0% |
| Q4 25 | — | $0.23 | ||
| Q3 25 | — | $0.16 | ||
| Q2 25 | — | $0.05 | ||
| Q1 25 | — | $-0.02 | ||
| Q4 24 | — | $0.09 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $0.04 | ||
| Q1 24 | — | $-0.13 |
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 | $242.1M |
| Total DebtLower is stronger | — | $428.4M |
| Stockholders' EquityBook value | — | $27.0M |
| Total Assets | $1.3B | $813.8M |
| Debt / EquityLower = less leverage | — | 15.87× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $242.1M | ||
| Q3 25 | $2.9M | $182.7M | ||
| Q2 25 | $2.5M | $136.3M | ||
| Q1 25 | $2.4M | $94.5M | ||
| Q4 24 | $2.5M | $89.5M | ||
| Q3 24 | $21.0M | $98.4M | ||
| Q2 24 | $26.7M | $73.9M | ||
| Q1 24 | $40.5M | $41.9M |
| Q4 25 | — | $428.4M | ||
| Q3 25 | — | $429.3M | ||
| Q2 25 | — | $430.2M | ||
| Q1 25 | — | $431.1M | ||
| Q4 24 | — | $432.0M | ||
| Q3 24 | — | $432.9M | ||
| Q2 24 | — | $433.8M | ||
| Q1 24 | — | $384.0M |
| Q4 25 | — | $27.0M | ||
| Q3 25 | — | $-7.4M | ||
| Q2 25 | — | $-12.3M | ||
| Q1 25 | — | $-28.3M | ||
| Q4 24 | — | $-27.6M | ||
| Q3 24 | — | $-31.9M | ||
| Q2 24 | — | $-28.5M | ||
| Q1 24 | — | $-26.4M |
| Q4 25 | $1.3B | $813.8M | ||
| Q3 25 | $1.3B | $685.9M | ||
| Q2 25 | $1.3B | $636.9M | ||
| Q1 25 | $1.2B | $579.8M | ||
| Q4 24 | $1.2B | $612.7M | ||
| Q3 24 | $1.2B | $575.0M | ||
| Q2 24 | $1.2B | $543.9M | ||
| Q1 24 | $1.2B | $497.3M |
| Q4 25 | — | 15.87× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $183.5M |
| Free Cash FlowOCF − Capex | — | $175.0M |
| FCF MarginFCF / Revenue | — | 98.8% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | 0.90× | 3.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | $326.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $183.5M | ||
| Q3 25 | $99.8M | $79.8M | ||
| Q2 25 | $80.5M | $42.0M | ||
| Q1 25 | $64.8M | $33.3M | ||
| Q4 24 | $91.0M | $148.8M | ||
| Q3 24 | $93.2M | $69.0M | ||
| Q2 24 | $100.4M | $17.5M | ||
| Q1 24 | $104.5M | $24.2M |
| Q4 25 | — | $175.0M | ||
| Q3 25 | — | $78.3M | ||
| Q2 25 | — | $40.8M | ||
| Q1 25 | — | $32.1M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | — | $62.2M | ||
| Q2 24 | — | $12.8M | ||
| Q1 24 | — | $20.0M |
| Q4 25 | — | 98.8% | ||
| Q3 25 | — | 58.0% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 25.5% | ||
| Q4 24 | — | 79.9% | ||
| Q3 24 | — | 50.6% | ||
| Q2 24 | — | 10.9% | ||
| Q1 24 | — | 18.4% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | 4.0% | ||
| Q1 24 | — | 3.9% |
| Q4 25 | 0.90× | 3.16× | ||
| Q3 25 | 1.09× | 7.61× | ||
| Q2 25 | 0.67× | 2.72× | ||
| Q1 25 | 4.07× | 71.84× | ||
| Q4 24 | 1.96× | 19.54× | ||
| Q3 24 | 1.01× | 16.60× | ||
| Q2 24 | 1.47× | 3.64× | ||
| Q1 24 | 1.63× | 11.40× |
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% |
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
