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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Globalstar, Inc. (GSAT). 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 $72.0M, roughly 1.3× Globalstar, Inc.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -16.1%, a 92.0% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -8.7%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
BSM vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $72.0M |
| Net Profit | $72.2M | $-11.6M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | -0.5% |
| Net Margin | 75.9% | -16.1% |
| Revenue YoY | -8.7% | 17.6% |
| Net Profit YoY | 55.8% | 76.9% |
| EPS (diluted) | — | $-0.11 |
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 | $72.0M | ||
| Q3 25 | $105.2M | $73.8M | ||
| Q2 25 | $106.7M | $67.1M | ||
| Q1 25 | $115.3M | $60.0M | ||
| Q4 24 | $104.3M | $61.2M | ||
| Q3 24 | $103.2M | $72.3M | ||
| Q2 24 | $115.2M | $60.4M | ||
| Q1 24 | $116.8M | $56.5M |
| Q4 25 | $72.2M | $-11.6M | ||
| Q3 25 | $91.7M | $1.1M | ||
| Q2 25 | $120.0M | $19.2M | ||
| Q1 25 | $15.9M | $-17.3M | ||
| Q4 24 | $46.3M | $-50.2M | ||
| Q3 24 | $92.7M | $9.9M | ||
| Q2 24 | $68.3M | $-9.7M | ||
| Q1 24 | $63.9M | $-13.2M |
| Q4 25 | 78.6% | -0.5% | ||
| Q3 25 | 89.5% | 13.8% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | 14.9% | -14.2% | ||
| Q4 24 | 45.6% | -6.9% | ||
| Q3 24 | 90.2% | 13.0% | ||
| Q2 24 | 59.5% | -2.4% | ||
| Q1 24 | 54.8% | -8.3% |
| Q4 25 | 75.9% | -16.1% | ||
| Q3 25 | 87.2% | 1.5% | ||
| Q2 25 | 112.5% | 28.6% | ||
| Q1 25 | 13.8% | -28.9% | ||
| Q4 24 | 44.4% | -82.1% | ||
| Q3 24 | 89.9% | 13.7% | ||
| Q2 24 | 59.3% | -16.0% | ||
| Q1 24 | 54.7% | -23.4% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | — | $-0.01 | ||
| Q2 25 | — | $0.13 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.57 | ||
| Q3 24 | — | $0.00 | ||
| Q2 24 | — | $-0.01 | ||
| 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 | $447.5M |
| Total DebtLower is stronger | — | $483.8M |
| Stockholders' EquityBook value | — | $355.7M |
| Total Assets | $1.3B | $2.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $447.5M | ||
| Q3 25 | $2.9M | $346.3M | ||
| Q2 25 | $2.5M | $308.2M | ||
| Q1 25 | $2.4M | $241.4M | ||
| Q4 24 | $2.5M | $391.2M | ||
| Q3 24 | $21.0M | $51.9M | ||
| Q2 24 | $26.7M | $64.3M | ||
| Q1 24 | $40.5M | $59.3M |
| Q4 25 | — | $483.8M | ||
| Q3 25 | — | $508.6M | ||
| Q2 25 | — | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
| Q4 25 | — | $355.7M | ||
| Q3 25 | — | $364.8M | ||
| Q2 25 | — | $360.9M | ||
| Q1 25 | — | $344.3M | ||
| Q4 24 | — | $358.9M | ||
| Q3 24 | — | $394.1M | ||
| Q2 24 | — | $383.0M | ||
| Q1 24 | — | $377.1M |
| Q4 25 | $1.3B | $2.3B | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.3B | $1.9B | ||
| Q1 25 | $1.2B | $1.7B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | $1.2B | $917.6M | ||
| Q2 24 | $1.2B | $926.2M | ||
| Q1 24 | $1.2B | $917.0M |
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $175.9M |
| 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 | $175.9M | ||
| Q3 25 | $99.8M | $236.0M | ||
| Q2 25 | $80.5M | $157.9M | ||
| Q1 25 | $64.8M | $51.9M | ||
| Q4 24 | $91.0M | $340.7M | ||
| Q3 24 | $93.2M | $32.0M | ||
| Q2 24 | $100.4M | $36.7M | ||
| Q1 24 | $104.5M | $29.8M |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | 216.53× | ||
| Q2 25 | 0.67× | 8.22× | ||
| Q1 25 | 4.07× | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 1.01× | 3.23× | ||
| 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% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
