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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Plymouth Industrial REIT, Inc. (PLYM). 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 $51.2M, roughly 1.9× Plymouth Industrial REIT, Inc.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -106.3%, a 182.1% gap on every dollar of revenue. On growth, Plymouth Industrial REIT, Inc. posted the faster year-over-year revenue change (-1.4% vs -8.7%). Over the past eight quarters, Plymouth Industrial REIT, Inc.'s revenue compounded faster (0.4% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Plymouth Industrial REIT, Inc. is a real estate investment trust focused on owning, operating, and acquiring high-quality industrial properties including distribution centers, warehouses, and light industrial facilities across key U.S. logistics hubs. It serves tenants in e-commerce, retail, manufacturing, and third-party logistics sectors, supporting diverse business supply chain needs.
BSM vs PLYM — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $51.2M |
| Net Profit | $72.2M | $-54.4M |
| Gross Margin | — | — |
| Operating Margin | 78.6% | -102.5% |
| Net Margin | 75.9% | -106.3% |
| Revenue YoY | -8.7% | -1.4% |
| Net Profit YoY | 55.8% | -248.5% |
| EPS (diluted) | — | $-1.23 |
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 | — | ||
| Q3 25 | $105.2M | $51.2M | ||
| Q2 25 | $106.7M | $47.2M | ||
| Q1 25 | $115.3M | $45.6M | ||
| Q4 24 | $104.3M | $47.6M | ||
| Q3 24 | $103.2M | $51.9M | ||
| Q2 24 | $115.2M | $48.7M | ||
| Q1 24 | $116.8M | $50.2M |
| Q4 25 | $72.2M | — | ||
| Q3 25 | $91.7M | $-54.4M | ||
| Q2 25 | $120.0M | $-6.1M | ||
| Q1 25 | $15.9M | $5.8M | ||
| Q4 24 | $46.3M | $147.4M | ||
| Q3 24 | $92.7M | $-15.6M | ||
| Q2 24 | $68.3M | $1.3M | ||
| Q1 24 | $63.9M | $6.2M |
| Q4 25 | 78.6% | — | ||
| Q3 25 | 89.5% | -102.5% | ||
| Q2 25 | — | -10.3% | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 45.6% | — | ||
| Q3 24 | 90.2% | -29.6% | ||
| Q2 24 | 59.5% | 2.7% | ||
| Q1 24 | 54.8% | — |
| Q4 25 | 75.9% | — | ||
| Q3 25 | 87.2% | -106.3% | ||
| Q2 25 | 112.5% | -12.9% | ||
| Q1 25 | 13.8% | 12.8% | ||
| Q4 24 | 44.4% | 309.9% | ||
| Q3 24 | 89.9% | -30.1% | ||
| Q2 24 | 59.3% | 2.7% | ||
| Q1 24 | 54.7% | 12.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | $-1.23 | ||
| Q2 25 | — | $-0.14 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $3.24 | ||
| Q3 24 | — | $-0.35 | ||
| Q2 24 | — | $0.03 | ||
| Q1 24 | — | $0.14 |
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 | — | — |
| Stockholders' EquityBook value | — | $470.1M |
| Total Assets | $1.3B | $1.6B |
| Debt / EquityLower = less leverage | — | — |
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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $646.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $470.1M | ||
| Q2 25 | — | $539.6M | ||
| Q1 25 | — | $571.0M | ||
| Q4 24 | — | $579.5M | ||
| Q3 24 | — | $436.5M | ||
| Q2 24 | — | $475.2M | ||
| Q1 24 | — | $484.6M |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.3B | $1.6B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.2B | $1.4B | ||
| Q1 24 | $1.2B | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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 | $20.0M |
| 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 | — | ||
| Q3 25 | $99.8M | $20.0M | ||
| Q2 25 | $80.5M | $23.4M | ||
| Q1 25 | $64.8M | $15.6M | ||
| Q4 24 | $91.0M | $96.1M | ||
| Q3 24 | $93.2M | $17.6M | ||
| Q2 24 | $100.4M | $19.9M | ||
| Q1 24 | $104.5M | $16.6M |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 4.07× | 2.67× | ||
| Q4 24 | 1.96× | 0.65× | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.47× | 15.12× | ||
| Q1 24 | 1.63× | 2.67× |
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% |
PLYM
Segment breakdown not available.
