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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Telesat Corp (TSAT). 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 $73.8M, roughly 1.3× Telesat Corp). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -119.8%, a 195.7% gap on every dollar of revenue. Over the past eight quarters, Black Stone Minerals, L.P.'s revenue compounded faster (-9.7% CAGR vs -64.0%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
BSM vs TSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $73.8M |
| Net Profit | $72.2M | $-88.4M |
| Gross Margin | — | 95.3% |
| Operating Margin | 78.6% | 5.9% |
| Net Margin | 75.9% | -119.8% |
| Revenue YoY | -8.7% | — |
| Net Profit YoY | 55.8% | — |
| EPS (diluted) | — | — |
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 | $73.8M | ||
| Q2 25 | $106.7M | $77.5M | ||
| Q1 25 | $115.3M | $152.2M | ||
| Q4 24 | $104.3M | — | ||
| Q3 24 | $103.2M | — | ||
| Q2 24 | $115.2M | $363.2M | ||
| Q1 24 | $116.8M | — |
| Q4 25 | $72.2M | — | ||
| Q3 25 | $91.7M | $-88.4M | ||
| Q2 25 | $120.0M | $55.1M | ||
| Q1 25 | $15.9M | $-52.3M | ||
| Q4 24 | $46.3M | — | ||
| Q3 24 | $92.7M | — | ||
| Q2 24 | $68.3M | $547.4M | ||
| Q1 24 | $63.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 95.3% | ||
| Q2 25 | — | 95.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 78.6% | — | ||
| Q3 25 | 89.5% | 5.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 45.6% | — | ||
| Q3 24 | 90.2% | — | ||
| Q2 24 | 59.5% | — | ||
| Q1 24 | 54.8% | — |
| Q4 25 | 75.9% | — | ||
| Q3 25 | 87.2% | -119.8% | ||
| Q2 25 | 112.5% | 71.2% | ||
| Q1 25 | 13.8% | -34.4% | ||
| Q4 24 | 44.4% | — | ||
| Q3 24 | 89.9% | — | ||
| Q2 24 | 59.3% | 150.7% | ||
| Q1 24 | 54.7% | — |
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 | $352.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $1.6B |
| Total Assets | $1.3B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | — | ||
| Q3 25 | $2.9M | $352.3M | ||
| Q2 25 | $2.5M | $399.6M | ||
| Q1 25 | $2.4M | $552.1M | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $21.0M | — | ||
| Q2 24 | $26.7M | $1.7B | ||
| Q1 24 | $40.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.3B | $4.9B | ||
| Q1 25 | $1.2B | $6.9B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | $6.3B | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $65.1M | — |
| 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 | — | ||
| Q2 25 | $80.5M | — | ||
| Q1 25 | $64.8M | — | ||
| Q4 24 | $91.0M | — | ||
| Q3 24 | $93.2M | — | ||
| Q2 24 | $100.4M | — | ||
| Q1 24 | $104.5M | — |
| Q4 25 | 0.90× | — | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | — | ||
| 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% |
TSAT
Segment breakdown not available.
