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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Repay Holdings Corp (RPAY). 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 $78.6M, roughly 1.2× Repay Holdings Corp). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -178.3%, a 254.2% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -8.7%). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
BSM vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $78.6M |
| Net Profit | $72.2M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | 78.6% | -182.2% |
| Net Margin | 75.9% | -178.3% |
| Revenue YoY | -8.7% | 0.4% |
| Net Profit YoY | 55.8% | -3304.1% |
| EPS (diluted) | — | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $105.2M | $77.7M | ||
| Q2 25 | $106.7M | $75.6M | ||
| Q1 25 | $115.3M | $77.3M | ||
| Q4 24 | $104.3M | $78.3M | ||
| Q3 24 | $103.2M | $79.1M | ||
| Q2 24 | $115.2M | $74.9M | ||
| Q1 24 | $116.8M | $80.7M |
| Q4 25 | $72.2M | $-140.1M | ||
| Q3 25 | $91.7M | $-6.4M | ||
| Q2 25 | $120.0M | $-102.3M | ||
| Q1 25 | $15.9M | $-7.9M | ||
| Q4 24 | $46.3M | $-4.1M | ||
| Q3 24 | $92.7M | $3.2M | ||
| Q2 24 | $68.3M | $-4.1M | ||
| Q1 24 | $63.9M | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | 78.6% | -182.2% | ||
| Q3 25 | 89.5% | -3.9% | ||
| Q2 25 | — | -138.7% | ||
| Q1 25 | 14.9% | -4.7% | ||
| Q4 24 | 45.6% | -1.5% | ||
| Q3 24 | 90.2% | -0.9% | ||
| Q2 24 | 59.5% | -4.6% | ||
| Q1 24 | 54.8% | -3.1% |
| Q4 25 | 75.9% | -178.3% | ||
| Q3 25 | 87.2% | -8.3% | ||
| Q2 25 | 112.5% | -135.2% | ||
| Q1 25 | 13.8% | -10.3% | ||
| Q4 24 | 44.4% | -5.3% | ||
| Q3 24 | 89.9% | 4.1% | ||
| Q2 24 | 59.3% | -5.4% | ||
| Q1 24 | 54.7% | -6.5% |
| Q4 25 | — | $-1.68 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | — | $-1.15 | ||
| Q1 25 | — | $-0.09 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | — | $484.4M |
| Total Assets | $1.3B | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $115.7M | ||
| Q3 25 | $2.9M | $95.7M | ||
| Q2 25 | $2.5M | $162.6M | ||
| Q1 25 | $2.4M | $165.5M | ||
| Q4 24 | $2.5M | $189.5M | ||
| Q3 24 | $21.0M | $168.7M | ||
| Q2 24 | $26.7M | $147.1M | ||
| Q1 24 | $40.5M | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | — | $484.4M | ||
| Q3 25 | — | $616.9M | ||
| Q2 25 | — | $633.7M | ||
| Q1 25 | — | $755.7M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $754.7M | ||
| Q2 24 | — | $815.4M | ||
| Q1 24 | — | $813.8M |
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $1.3B | $1.4B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $1.2B | $1.6B | ||
| Q3 24 | $1.2B | $1.6B | ||
| Q2 24 | $1.2B | $1.5B | ||
| Q1 24 | $1.2B | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | — | $23.2M |
| FCF MarginFCF / Revenue | — | 29.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $23.3M | ||
| Q3 25 | $99.8M | $32.2M | ||
| Q2 25 | $80.5M | $33.1M | ||
| Q1 25 | $64.8M | $2.5M | ||
| Q4 24 | $91.0M | $34.3M | ||
| Q3 24 | $93.2M | $60.1M | ||
| Q2 24 | $100.4M | $31.0M | ||
| Q1 24 | $104.5M | $24.8M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $24.7M |
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 30.6% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 4.07× | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 1.01× | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
