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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
BRC Group Holdings, Inc. is the larger business by last-quarter revenue ($188.3M vs $95.2M, roughly 2.0× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 47.9%, a 27.9% gap on every dollar of revenue. On growth, Black Stone Minerals, L.P. posted the faster year-over-year revenue change (-8.7% vs -21.9%). Over the past eight quarters, Black Stone Minerals, L.P.'s revenue compounded faster (-9.7% CAGR vs -15.4%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
BSM vs RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $188.3M |
| Net Profit | $72.2M | $90.3M |
| Gross Margin | — | 79.5% |
| Operating Margin | 78.6% | 32.3% |
| Net Margin | 75.9% | 47.9% |
| Revenue YoY | -8.7% | -21.9% |
| Net Profit YoY | 55.8% | 1710.8% |
| EPS (diluted) | — | $2.78 |
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 | $188.3M | ||
| Q3 25 | $105.2M | $215.3M | ||
| Q2 25 | $106.7M | $188.2M | ||
| Q1 25 | $115.3M | $197.2M | ||
| Q4 24 | $104.3M | $241.0M | ||
| Q3 24 | $103.2M | $225.5M | ||
| Q2 24 | $115.2M | $256.0M | ||
| Q1 24 | $116.8M | $263.4M |
| Q4 25 | $72.2M | $90.3M | ||
| Q3 25 | $91.7M | $91.1M | ||
| Q2 25 | $120.0M | $139.5M | ||
| Q1 25 | $15.9M | $-10.0M | ||
| Q4 24 | $46.3M | $-5.6M | ||
| Q3 24 | $92.7M | $-284.4M | ||
| Q2 24 | $68.3M | $-433.6M | ||
| Q1 24 | $63.9M | $-49.2M |
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
| Q4 25 | 78.6% | 32.3% | ||
| Q3 25 | 89.5% | 30.4% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | 14.9% | -31.2% | ||
| Q4 24 | 45.6% | -69.2% | ||
| Q3 24 | 90.2% | -36.4% | ||
| Q2 24 | 59.5% | -90.8% | ||
| Q1 24 | 54.8% | -6.1% |
| Q4 25 | 75.9% | 47.9% | ||
| Q3 25 | 87.2% | 42.3% | ||
| Q2 25 | 112.5% | 74.1% | ||
| Q1 25 | 13.8% | -5.1% | ||
| Q4 24 | 44.4% | -2.3% | ||
| Q3 24 | 89.9% | -126.1% | ||
| Q2 24 | 59.3% | -169.4% | ||
| Q1 24 | 54.7% | -18.7% |
| Q4 25 | — | $2.78 | ||
| Q3 25 | — | $2.91 | ||
| Q2 25 | — | $4.50 | ||
| Q1 25 | — | $-0.39 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | — | $-9.39 | ||
| Q2 24 | — | $-14.35 | ||
| Q1 24 | — | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | — | $-171.5M |
| Total Assets | $1.3B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $226.6M | ||
| Q3 25 | $2.9M | $184.2M | ||
| Q2 25 | $2.5M | $267.4M | ||
| Q1 25 | $2.4M | $138.3M | ||
| Q4 24 | $2.5M | $146.9M | ||
| Q3 24 | $21.0M | $159.2M | ||
| Q2 24 | $26.7M | $236.9M | ||
| Q1 24 | $40.5M | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $-171.5M | ||
| Q3 25 | — | $-260.5M | ||
| Q2 25 | — | $-351.7M | ||
| Q1 25 | — | $-496.8M | ||
| Q4 24 | — | $-488.2M | ||
| Q3 24 | — | $-497.6M | ||
| Q2 24 | — | $-218.3M | ||
| Q1 24 | — | $228.4M |
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.3B | $1.5B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $1.2B | $3.2B | ||
| Q1 24 | $1.2B | $5.0B |
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 | $26.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 0.90× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $26.2M | ||
| Q3 25 | $99.8M | $-60.6M | ||
| Q2 25 | $80.5M | $-25.6M | ||
| Q1 25 | $64.8M | $184.0K | ||
| Q4 24 | $91.0M | $-2.7M | ||
| Q3 24 | $93.2M | $19.5M | ||
| Q2 24 | $100.4M | $111.5M | ||
| Q1 24 | $104.5M | $135.4M |
| Q4 25 | 0.90× | 0.29× | ||
| Q3 25 | 1.09× | -0.66× | ||
| Q2 25 | 0.67× | -0.18× | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
