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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Stoke Therapeutics, Inc. (STOK). Click either name above to swap in a different company.

Stoke Therapeutics, Inc. is the larger business by last-quarter revenue ($158.6M vs $95.2M, roughly 1.7× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 71.2%, a 4.7% gap on every dollar of revenue. On growth, Stoke Therapeutics, Inc. posted the faster year-over-year revenue change (3661.1% vs -8.7%).

Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.

Stoke Therapeutics, Inc. is a clinical-stage biotechnology company developing innovative RNA-targeted therapies for severe rare genetic diseases. Its lead candidates address unmet needs for Dravet syndrome, a rare epilepsy, and other neurological monogenic disorders, serving patients across North America and global markets.

BSM vs STOK — Head-to-Head

Bigger by revenue
STOK
STOK
1.7× larger
STOK
$158.6M
$95.2M
BSM
Growing faster (revenue YoY)
STOK
STOK
+3669.9% gap
STOK
3661.1%
-8.7%
BSM
Higher net margin
BSM
BSM
4.7% more per $
BSM
75.9%
71.2%
STOK

Income Statement — Q4 FY2025 vs Q1 FY2025

Metric
BSM
BSM
STOK
STOK
Revenue
$95.2M
$158.6M
Net Profit
$72.2M
$112.9M
Gross Margin
Operating Margin
78.6%
70.2%
Net Margin
75.9%
71.2%
Revenue YoY
-8.7%
3661.1%
Net Profit YoY
55.8%
528.0%
EPS (diluted)
$1.90

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.

Revenue
BSM
BSM
STOK
STOK
Q4 25
$95.2M
Q3 25
$105.2M
Q2 25
$106.7M
Q1 25
$115.3M
$158.6M
Q4 24
$104.3M
$22.6M
Q3 24
$103.2M
Q2 24
$115.2M
Q1 24
$116.8M
Net Profit
BSM
BSM
STOK
STOK
Q4 25
$72.2M
Q3 25
$91.7M
Q2 25
$120.0M
Q1 25
$15.9M
$112.9M
Q4 24
$46.3M
$-10.5M
Q3 24
$92.7M
Q2 24
$68.3M
Q1 24
$63.9M
Operating Margin
BSM
BSM
STOK
STOK
Q4 25
78.6%
Q3 25
89.5%
Q2 25
Q1 25
14.9%
70.2%
Q4 24
45.6%
-60.4%
Q3 24
90.2%
Q2 24
59.5%
Q1 24
54.8%
Net Margin
BSM
BSM
STOK
STOK
Q4 25
75.9%
Q3 25
87.2%
Q2 25
112.5%
Q1 25
13.8%
71.2%
Q4 24
44.4%
-46.4%
Q3 24
89.9%
Q2 24
59.3%
Q1 24
54.7%
EPS (diluted)
BSM
BSM
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
$1.90
Q4 24
$-0.15
Q3 24
Q2 24
Q1 24

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BSM
BSM
STOK
STOK
Cash + ST InvestmentsLiquidity on hand
$1.5M
$274.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$350.1M
Total Assets
$1.3B
$406.9M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BSM
BSM
STOK
STOK
Q4 25
$1.5M
Q3 25
$2.9M
Q2 25
$2.5M
Q1 25
$2.4M
$274.8M
Q4 24
$2.5M
$128.0M
Q3 24
$21.0M
Q2 24
$26.7M
Q1 24
$40.5M
Stockholders' Equity
BSM
BSM
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
$350.1M
Q4 24
$229.0M
Q3 24
Q2 24
Q1 24
Total Assets
BSM
BSM
STOK
STOK
Q4 25
$1.3B
Q3 25
$1.3B
Q2 25
$1.3B
Q1 25
$1.2B
$406.9M
Q4 24
$1.2B
$271.6M
Q3 24
$1.2B
Q2 24
$1.2B
Q1 24
$1.2B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BSM
BSM
STOK
STOK
Operating Cash FlowLast quarter
$65.1M
$131.8M
Free Cash FlowOCF − Capex
$131.7M
FCF MarginFCF / Revenue
83.0%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
0.90×
1.17×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BSM
BSM
STOK
STOK
Q4 25
$65.1M
Q3 25
$99.8M
Q2 25
$80.5M
Q1 25
$64.8M
$131.8M
Q4 24
$91.0M
$-23.2M
Q3 24
$93.2M
Q2 24
$100.4M
Q1 24
$104.5M
Free Cash Flow
BSM
BSM
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
$131.7M
Q4 24
$-23.2M
Q3 24
Q2 24
Q1 24
FCF Margin
BSM
BSM
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
83.0%
Q4 24
-102.7%
Q3 24
Q2 24
Q1 24
Capex Intensity
BSM
BSM
STOK
STOK
Q4 25
Q3 25
Q2 25
Q1 25
0.1%
Q4 24
0.2%
Q3 24
Q2 24
Q1 24
Cash Conversion
BSM
BSM
STOK
STOK
Q4 25
0.90×
Q3 25
1.09×
Q2 25
0.67×
Q1 25
4.07×
1.17×
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
BSM

Oil Reserves$46.4M49%
Natural Gas Reserves$44.1M46%
Real Estate$4.7M5%

STOK
STOK

Segment breakdown not available.

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