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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Inogen Inc (INGN). 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 $68.6M, roughly 1.4× Inogen Inc). On growth, Inogen Inc posted the faster year-over-year revenue change (3.4% vs -8.7%). Over the past eight quarters, Inogen Inc's revenue compounded faster (4.2% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
BSM vs INGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $68.6M |
| Net Profit | $72.2M | — |
| Gross Margin | — | 51.4% |
| Operating Margin | 78.6% | -13.6% |
| Net Margin | 75.9% | — |
| Revenue YoY | -8.7% | 3.4% |
| Net Profit YoY | 55.8% | — |
| EPS (diluted) | — | $-0.26 |
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 | $68.6M | ||
| Q3 25 | $105.2M | $79.1M | ||
| Q2 25 | $106.7M | $79.2M | ||
| Q1 25 | $115.3M | $68.5M | ||
| Q4 24 | $104.3M | $66.3M | ||
| Q3 24 | $103.2M | $74.9M | ||
| Q2 24 | $115.2M | $74.4M | ||
| Q1 24 | $116.8M | $63.1M |
| Q4 25 | $72.2M | — | ||
| Q3 25 | $91.7M | $-5.3M | ||
| Q2 25 | $120.0M | $-4.2M | ||
| Q1 25 | $15.9M | $-6.2M | ||
| Q4 24 | $46.3M | — | ||
| Q3 24 | $92.7M | $-6.0M | ||
| Q2 24 | $68.3M | $-5.6M | ||
| Q1 24 | $63.9M | $-14.6M |
| Q4 25 | — | 51.4% | ||
| Q3 25 | — | 52.2% | ||
| Q2 25 | — | 52.2% | ||
| Q1 25 | — | 53.1% | ||
| Q4 24 | — | 54.7% | ||
| Q3 24 | — | 55.2% | ||
| Q2 24 | — | 57.4% | ||
| Q1 24 | — | 54.5% |
| Q4 25 | 78.6% | -13.6% | ||
| Q3 25 | 89.5% | -9.0% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | 14.9% | -11.2% | ||
| Q4 24 | 45.6% | -17.2% | ||
| Q3 24 | 90.2% | -10.4% | ||
| Q2 24 | 59.5% | -9.5% | ||
| Q1 24 | 54.8% | -25.8% |
| Q4 25 | 75.9% | — | ||
| Q3 25 | 87.2% | -6.7% | ||
| Q2 25 | 112.5% | -5.2% | ||
| Q1 25 | 13.8% | -9.0% | ||
| Q4 24 | 44.4% | — | ||
| Q3 24 | 89.9% | -8.0% | ||
| Q2 24 | 59.3% | -7.5% | ||
| Q1 24 | 54.7% | -23.1% |
| Q4 25 | — | $-0.26 | ||
| Q3 25 | — | $-0.20 | ||
| Q2 25 | — | $-0.15 | ||
| Q1 25 | — | $-0.25 | ||
| Q4 24 | — | $-0.41 | ||
| Q3 24 | — | $-0.25 | ||
| Q2 24 | — | $-0.24 | ||
| Q1 24 | — | $-0.62 |
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 | $103.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $192.2M |
| Total Assets | $1.3B | $298.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $103.7M | ||
| Q3 25 | $2.9M | $106.5M | ||
| Q2 25 | $2.5M | $103.7M | ||
| Q1 25 | $2.4M | $118.9M | ||
| Q4 24 | $2.5M | $113.8M | ||
| Q3 24 | $21.0M | $105.7M | ||
| Q2 24 | $26.7M | $97.9M | ||
| Q1 24 | $40.5M | $107.4M |
| Q4 25 | — | $192.2M | ||
| Q3 25 | — | $197.2M | ||
| Q2 25 | — | $199.5M | ||
| Q1 25 | — | $198.0M | ||
| Q4 24 | — | $173.9M | ||
| Q3 24 | — | $185.4M | ||
| Q2 24 | — | $187.6M | ||
| Q1 24 | — | $191.9M |
| Q4 25 | $1.3B | $298.6M | ||
| Q3 25 | $1.3B | $307.0M | ||
| Q2 25 | $1.3B | $312.0M | ||
| Q1 25 | $1.2B | $308.4M | ||
| Q4 24 | $1.2B | $296.2M | ||
| Q3 24 | $1.2B | $306.2M | ||
| Q2 24 | $1.2B | $308.9M | ||
| Q1 24 | $1.2B | $315.6M |
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 | $-943.0K |
| Free Cash FlowOCF − Capex | — | $-1.9M |
| FCF MarginFCF / Revenue | — | -2.8% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $-943.0K | ||
| Q3 25 | $99.8M | $2.2M | ||
| Q2 25 | $80.5M | $4.3M | ||
| Q1 25 | $64.8M | $-16.8M | ||
| Q4 24 | $91.0M | $-3.0M | ||
| Q3 24 | $93.2M | $7.0M | ||
| Q2 24 | $100.4M | $6.7M | ||
| Q1 24 | $104.5M | $-4.7M |
| Q4 25 | — | $-1.9M | ||
| Q3 25 | — | $1.6M | ||
| Q2 25 | — | $3.7M | ||
| Q1 25 | — | $-17.1M | ||
| Q4 24 | — | $-3.3M | ||
| Q3 24 | — | $5.3M | ||
| Q2 24 | — | $6.6M | ||
| Q1 24 | — | $-6.1M |
| Q4 25 | — | -2.8% | ||
| Q3 25 | — | 2.0% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | -24.9% | ||
| Q4 24 | — | -5.0% | ||
| Q3 24 | — | 7.1% | ||
| Q2 24 | — | 8.9% | ||
| Q1 24 | — | -9.6% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 2.1% |
| 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% |
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
