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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and MAXLINEAR, INC (MXL). Click either name above to swap in a different company.
MAXLINEAR, INC is the larger business by last-quarter revenue ($137.2M vs $95.2M, roughly 1.4× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -32.9%, a 108.8% gap on every dollar of revenue. On growth, MAXLINEAR, INC posted the faster year-over-year revenue change (43.0% vs -8.7%). Over the past eight quarters, MAXLINEAR, INC's revenue compounded faster (22.1% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
MaxLinear, Inc. is an American electronic hardware company. Founded in 2003, it provides highly integrated radio-frequency (RF) analog and mixed-signal semiconductor products for broadband communications applications. It is a New York Stock Exchange-traded company.
BSM vs MXL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $137.2M |
| Net Profit | $72.2M | $-45.1M |
| Gross Margin | — | 57.5% |
| Operating Margin | 78.6% | 30.0% |
| Net Margin | 75.9% | -32.9% |
| Revenue YoY | -8.7% | 43.0% |
| Net Profit YoY | 55.8% | -203.0% |
| EPS (diluted) | — | $-0.52 |
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.
| Q1 26 | — | $137.2M | ||
| Q4 25 | $95.2M | $136.4M | ||
| Q3 25 | $105.2M | $126.5M | ||
| Q2 25 | $106.7M | $108.8M | ||
| Q1 25 | $115.3M | $95.9M | ||
| Q4 24 | $104.3M | $92.2M | ||
| Q3 24 | $103.2M | $81.1M | ||
| Q2 24 | $115.2M | $92.0M |
| Q1 26 | — | $-45.1M | ||
| Q4 25 | $72.2M | $-14.9M | ||
| Q3 25 | $91.7M | $-45.5M | ||
| Q2 25 | $120.0M | $-26.6M | ||
| Q1 25 | $15.9M | $-49.7M | ||
| Q4 24 | $46.3M | $-57.8M | ||
| Q3 24 | $92.7M | $-75.8M | ||
| Q2 24 | $68.3M | $-39.3M |
| Q1 26 | — | 57.5% | ||
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 56.9% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 56.1% | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | — | 54.6% |
| Q1 26 | — | 30.0% | ||
| Q4 25 | 78.6% | -10.9% | ||
| Q3 25 | 89.5% | -32.7% | ||
| Q2 25 | — | -22.6% | ||
| Q1 25 | 14.9% | -48.0% | ||
| Q4 24 | 45.6% | -44.7% | ||
| Q3 24 | 90.2% | -82.3% | ||
| Q2 24 | 59.5% | -44.4% |
| Q1 26 | — | -32.9% | ||
| Q4 25 | 75.9% | -10.9% | ||
| Q3 25 | 87.2% | -36.0% | ||
| Q2 25 | 112.5% | -24.4% | ||
| Q1 25 | 13.8% | -51.8% | ||
| Q4 24 | 44.4% | -62.8% | ||
| Q3 24 | 89.9% | -93.4% | ||
| Q2 24 | 59.3% | -42.7% |
| Q1 26 | — | $-0.52 | ||
| Q4 25 | — | $-0.17 | ||
| Q3 25 | — | $-0.52 | ||
| Q2 25 | — | $-0.31 | ||
| Q1 25 | — | $-0.58 | ||
| Q4 24 | — | $-0.68 | ||
| Q3 24 | — | $-0.90 | ||
| Q2 24 | — | $-0.47 |
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 | $61.1M |
| Total DebtLower is stronger | — | $123.8M |
| Stockholders' EquityBook value | — | $454.2M |
| Total Assets | $1.3B | $771.3M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.1M | ||
| Q4 25 | $1.5M | $72.8M | ||
| Q3 25 | $2.9M | $111.9M | ||
| Q2 25 | $2.5M | $108.6M | ||
| Q1 25 | $2.4M | $102.8M | ||
| Q4 24 | $2.5M | $118.6M | ||
| Q3 24 | $21.0M | $148.5M | ||
| Q2 24 | $26.7M | $185.1M |
| Q1 26 | — | $123.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $454.2M | ||
| Q4 25 | — | $451.9M | ||
| Q3 25 | — | $464.7M | ||
| Q2 25 | — | $488.3M | ||
| Q1 25 | — | $493.2M | ||
| Q4 24 | — | $516.3M | ||
| Q3 24 | — | $556.9M | ||
| Q2 24 | — | $617.3M |
| Q1 26 | — | $771.3M | ||
| Q4 25 | $1.3B | $796.4M | ||
| Q3 25 | $1.3B | $808.1M | ||
| Q2 25 | $1.3B | $863.7M | ||
| Q1 25 | $1.2B | $855.3M | ||
| Q4 24 | $1.2B | $864.6M | ||
| Q3 24 | $1.2B | $895.3M | ||
| Q2 24 | $1.2B | $973.2M |
| Q1 26 | — | 0.27× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $65.1M | $10.4M | ||
| Q3 25 | $99.8M | $10.1M | ||
| Q2 25 | $80.5M | $10.5M | ||
| Q1 25 | $64.8M | $-11.4M | ||
| Q4 24 | $91.0M | $-27.8M | ||
| Q3 24 | $93.2M | $-30.7M | ||
| Q2 24 | $100.4M | $-2.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $6.7M | ||
| Q3 25 | — | $4.4M | ||
| Q2 25 | — | $9.3M | ||
| Q1 25 | — | $-13.4M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | — | $-34.9M | ||
| Q2 24 | — | $-5.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | -14.0% | ||
| Q4 24 | — | -32.6% | ||
| Q3 24 | — | -43.0% | ||
| Q2 24 | — | -6.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | — | 3.3% |
| Q1 26 | — | — | ||
| 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× | — |
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% |
MXL
Segment breakdown not available.
