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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and OIL STATES INTERNATIONAL, INC (OIS). Click either name above to swap in a different company.
OIL STATES INTERNATIONAL, INC is the larger business by last-quarter revenue ($178.5M vs $95.2M, roughly 1.9× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -65.7%, a 141.6% gap on every dollar of revenue. On growth, OIL STATES INTERNATIONAL, INC posted the faster year-over-year revenue change (8.4% vs -8.7%). Over the past eight quarters, OIL STATES INTERNATIONAL, INC's revenue compounded faster (3.3% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Oil States International, Inc. is an American multinational corporation. It focuses on providing services to oil and gas companies. It is a public company listed on the New York Stock Exchange.
BSM vs OIS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $178.5M |
| Net Profit | $72.2M | $-117.2M |
| Gross Margin | — | 10.9% |
| Operating Margin | 78.6% | -63.7% |
| Net Margin | 75.9% | -65.7% |
| Revenue YoY | -8.7% | 8.4% |
| Net Profit YoY | 55.8% | -873.2% |
| EPS (diluted) | — | $-1.99 |
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 | $178.5M | ||
| Q3 25 | $105.2M | $165.2M | ||
| Q2 25 | $106.7M | $165.4M | ||
| Q1 25 | $115.3M | $159.9M | ||
| Q4 24 | $104.3M | $164.6M | ||
| Q3 24 | $103.2M | $174.3M | ||
| Q2 24 | $115.2M | $186.4M | ||
| Q1 24 | $116.8M | $167.3M |
| Q4 25 | $72.2M | $-117.2M | ||
| Q3 25 | $91.7M | $1.9M | ||
| Q2 25 | $120.0M | $2.8M | ||
| Q1 25 | $15.9M | $3.2M | ||
| Q4 24 | $46.3M | $15.2M | ||
| Q3 24 | $92.7M | $-14.3M | ||
| Q2 24 | $68.3M | $1.3M | ||
| Q1 24 | $63.9M | $-13.4M |
| Q4 25 | — | 10.9% | ||
| Q3 25 | — | 22.1% | ||
| Q2 25 | — | 24.2% | ||
| Q1 25 | — | 23.3% | ||
| Q4 24 | — | 23.7% | ||
| Q3 24 | — | 21.7% | ||
| Q2 24 | — | 23.8% | ||
| Q1 24 | — | 21.1% |
| Q4 25 | 78.6% | -63.7% | ||
| Q3 25 | 89.5% | 2.9% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | 14.9% | 3.5% | ||
| Q4 24 | 45.6% | 11.2% | ||
| Q3 24 | 90.2% | -6.3% | ||
| Q2 24 | 59.5% | 1.1% | ||
| Q1 24 | 54.8% | -6.7% |
| Q4 25 | 75.9% | -65.7% | ||
| Q3 25 | 87.2% | 1.2% | ||
| Q2 25 | 112.5% | 1.7% | ||
| Q1 25 | 13.8% | 2.0% | ||
| Q4 24 | 44.4% | 9.2% | ||
| Q3 24 | 89.9% | -8.2% | ||
| Q2 24 | 59.3% | 0.7% | ||
| Q1 24 | 54.7% | -8.0% |
| Q4 25 | — | $-1.99 | ||
| Q3 25 | — | $0.03 | ||
| Q2 25 | — | $0.05 | ||
| Q1 25 | — | $0.05 | ||
| Q4 24 | — | $0.24 | ||
| Q3 24 | — | $-0.23 | ||
| Q2 24 | — | $0.02 | ||
| Q1 24 | — | $-0.21 |
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 | $69.9M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | — | $573.2M |
| Total Assets | $1.3B | $883.4M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $69.9M | ||
| Q3 25 | $2.9M | $67.1M | ||
| Q2 25 | $2.5M | $53.9M | ||
| Q1 25 | $2.4M | $66.8M | ||
| Q4 24 | $2.5M | $65.4M | ||
| Q3 24 | $21.0M | $46.0M | ||
| Q2 24 | $26.7M | $25.2M | ||
| Q1 24 | $40.5M | $24.1M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $1.9M | ||
| Q2 25 | — | $1.9M | ||
| Q1 25 | — | $124.7M | ||
| Q4 24 | — | $124.7M | ||
| Q3 24 | — | $124.6M | ||
| Q2 24 | — | $124.3M | ||
| Q1 24 | — | $135.6M |
| Q4 25 | — | $573.2M | ||
| Q3 25 | — | $689.0M | ||
| Q2 25 | — | $690.6M | ||
| Q1 25 | — | $683.4M | ||
| Q4 24 | — | $680.7M | ||
| Q3 24 | — | $684.8M | ||
| Q2 24 | — | $690.4M | ||
| Q1 24 | — | $692.3M |
| Q4 25 | $1.3B | $883.4M | ||
| Q3 25 | $1.3B | $1.0B | ||
| Q2 25 | $1.3B | $993.7M | ||
| Q1 25 | $1.2B | $990.7M | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.2B | $994.1M | ||
| Q2 24 | $1.2B | $1.0B | ||
| Q1 24 | $1.2B | $1.0B |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.18× | ||
| Q1 24 | — | 0.20× |
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 | $50.1M |
| Free Cash FlowOCF − Capex | — | $47.1M |
| FCF MarginFCF / Revenue | — | 26.4% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $73.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $50.1M | ||
| Q3 25 | $99.8M | $30.7M | ||
| Q2 25 | $80.5M | $15.0M | ||
| Q1 25 | $64.8M | $9.3M | ||
| Q4 24 | $91.0M | $18.2M | ||
| Q3 24 | $93.2M | $28.8M | ||
| Q2 24 | $100.4M | $10.2M | ||
| Q1 24 | $104.5M | $-11.4M |
| Q4 25 | — | $47.1M | ||
| Q3 25 | — | $22.0M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $137.0K | ||
| Q4 24 | — | $4.0M | ||
| Q3 24 | — | $21.4M | ||
| Q2 24 | — | $4.5M | ||
| Q1 24 | — | $-21.5M |
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | 13.3% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 12.3% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | -12.8% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 5.3% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | — | 8.6% | ||
| Q3 24 | — | 4.3% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 6.0% |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | 16.15× | ||
| Q2 25 | 0.67× | 5.33× | ||
| Q1 25 | 4.07× | 2.94× | ||
| Q4 24 | 1.96× | 1.20× | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.47× | 7.87× | ||
| 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% |
OIS
| Project Driven | $112.6M | 63% |
| Downhole Technologies | $32.1M | 18% |
| Completion And Production Services | $23.1M | 13% |
| Military And Other Products | $10.7M | 6% |
