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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
DOUGLAS DYNAMICS, INC is the larger business by last-quarter revenue ($184.5M vs $95.2M, roughly 1.9× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 7.0%, a 68.9% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs -8.7%). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
General Dynamics Corporation (GD) is an American industrial and technology company based in Reston, Virginia. It is primarily a developer and producer of advanced military equipment of a wide variety, such as nuclear submarines, main battle tanks, and armoured fighting vehicles. It is also the manufacturer of the civilian aviation Gulfstream business jets and a provider of information technology services. The company is the 3rd largest of the top 100 contractors of the U.S. federal government...
BSM vs PLOW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $184.5M |
| Net Profit | $72.2M | $12.8M |
| Gross Margin | — | 26.1% |
| Operating Margin | 78.6% | 10.5% |
| Net Margin | 75.9% | 7.0% |
| Revenue YoY | -8.7% | 28.6% |
| Net Profit YoY | 55.8% | 62.3% |
| EPS (diluted) | — | $0.54 |
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 | $184.5M | ||
| Q3 25 | $105.2M | $162.1M | ||
| Q2 25 | $106.7M | $194.3M | ||
| Q1 25 | $115.3M | $115.1M | ||
| Q4 24 | $104.3M | $143.5M | ||
| Q3 24 | $103.2M | $129.4M | ||
| Q2 24 | $115.2M | $199.9M | ||
| Q1 24 | $116.8M | $95.7M |
| Q4 25 | $72.2M | $12.8M | ||
| Q3 25 | $91.7M | $8.0M | ||
| Q2 25 | $120.0M | $26.0M | ||
| Q1 25 | $15.9M | $148.0K | ||
| Q4 24 | $46.3M | $7.9M | ||
| Q3 24 | $92.7M | $32.3M | ||
| Q2 24 | $68.3M | $24.3M | ||
| Q1 24 | $63.9M | $-8.4M |
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 30.7% | ||
| Q1 24 | — | 19.8% |
| Q4 25 | 78.6% | 10.5% | ||
| Q3 25 | 89.5% | 8.7% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | 14.9% | 2.8% | ||
| Q4 24 | 45.6% | 9.0% | ||
| Q3 24 | 90.2% | 35.4% | ||
| Q2 24 | 59.5% | 18.2% | ||
| Q1 24 | 54.8% | -6.7% |
| Q4 25 | 75.9% | 7.0% | ||
| Q3 25 | 87.2% | 4.9% | ||
| Q2 25 | 112.5% | 13.4% | ||
| Q1 25 | 13.8% | 0.1% | ||
| Q4 24 | 44.4% | 5.5% | ||
| Q3 24 | 89.9% | 24.9% | ||
| Q2 24 | 59.3% | 12.2% | ||
| Q1 24 | 54.7% | -8.7% |
| Q4 25 | — | $0.54 | ||
| Q3 25 | — | $0.33 | ||
| Q2 25 | — | $1.09 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | — | $1.36 | ||
| Q2 24 | — | $1.02 | ||
| Q1 24 | — | $-0.37 |
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 | — |
| Total DebtLower is stronger | — | $144.0M |
| Stockholders' EquityBook value | — | $281.4M |
| Total Assets | $1.3B | $626.7M |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | — | ||
| Q3 25 | $2.9M | — | ||
| Q2 25 | $2.5M | — | ||
| Q1 25 | $2.4M | — | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $21.0M | — | ||
| Q2 24 | $26.7M | — | ||
| Q1 24 | $40.5M | — |
| Q4 25 | — | $144.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $147.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $281.4M | ||
| Q3 25 | — | $275.3M | ||
| Q2 25 | — | $273.3M | ||
| Q1 25 | — | $258.9M | ||
| Q4 24 | — | $264.2M | ||
| Q3 24 | — | $260.8M | ||
| Q2 24 | — | $236.7M | ||
| Q1 24 | — | $217.2M |
| Q4 25 | $1.3B | $626.7M | ||
| Q3 25 | $1.3B | $694.9M | ||
| Q2 25 | $1.3B | $671.5M | ||
| Q1 25 | $1.2B | $621.0M | ||
| Q4 24 | $1.2B | $590.0M | ||
| Q3 24 | $1.2B | $665.6M | ||
| Q2 24 | $1.2B | $617.0M | ||
| Q1 24 | $1.2B | $577.1M |
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.56× | ||
| 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 | $95.9M |
| Free Cash FlowOCF − Capex | — | $92.8M |
| FCF MarginFCF / Revenue | — | 50.3% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | 0.90× | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $95.9M | ||
| Q3 25 | $99.8M | $-8.5M | ||
| Q2 25 | $80.5M | $-11.4M | ||
| Q1 25 | $64.8M | $-1.3M | ||
| Q4 24 | $91.0M | $74.4M | ||
| Q3 24 | $93.2M | $-14.2M | ||
| Q2 24 | $100.4M | $2.5M | ||
| Q1 24 | $104.5M | $-21.6M |
| Q4 25 | — | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | — | $-15.2M | ||
| Q2 24 | — | $836.0K | ||
| Q1 24 | — | $-22.4M |
| Q4 25 | — | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | -11.8% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | -23.4% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | 0.90× | 7.47× | ||
| Q3 25 | 1.09× | -1.07× | ||
| Q2 25 | 0.67× | -0.44× | ||
| Q1 25 | 4.07× | -9.03× | ||
| Q4 24 | 1.96× | 9.41× | ||
| Q3 24 | 1.01× | -0.44× | ||
| Q2 24 | 1.47× | 0.10× | ||
| 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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
