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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and TSS, Inc. (TSSI). 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 $60.9M, roughly 1.6× TSS, Inc.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 20.0%, a 55.9% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs -8.7%). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
BSM vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $60.9M |
| Net Profit | $72.2M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | 78.6% | 1.5% |
| Net Margin | 75.9% | 20.0% |
| Revenue YoY | -8.7% | 21.8% |
| Net Profit YoY | 55.8% | 535.7% |
| EPS (diluted) | — | $0.44 |
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 | $60.9M | ||
| Q3 25 | $105.2M | $41.9M | ||
| Q2 25 | $106.7M | $44.0M | ||
| Q1 25 | $115.3M | $99.0M | ||
| Q4 24 | $104.3M | $50.0M | ||
| Q3 24 | $103.2M | $70.1M | ||
| Q2 24 | $115.2M | $12.2M | ||
| Q1 24 | $116.8M | $15.9M |
| Q4 25 | $72.2M | $12.2M | ||
| Q3 25 | $91.7M | $-1.5M | ||
| Q2 25 | $120.0M | $1.5M | ||
| Q1 25 | $15.9M | $3.0M | ||
| Q4 24 | $46.3M | $1.9M | ||
| Q3 24 | $92.7M | $2.6M | ||
| Q2 24 | $68.3M | $1.4M | ||
| Q1 24 | $63.9M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | 78.6% | 1.5% | ||
| Q3 25 | 89.5% | -2.2% | ||
| Q2 25 | — | 5.1% | ||
| Q1 25 | 14.9% | 4.2% | ||
| Q4 24 | 45.6% | 0.0% | ||
| Q3 24 | 90.2% | 5.4% | ||
| Q2 24 | 59.5% | 14.0% | ||
| Q1 24 | 54.8% | 1.6% |
| Q4 25 | 75.9% | 20.0% | ||
| Q3 25 | 87.2% | -3.6% | ||
| Q2 25 | 112.5% | 3.4% | ||
| Q1 25 | 13.8% | 3.0% | ||
| Q4 24 | 44.4% | 3.8% | ||
| Q3 24 | 89.9% | 3.8% | ||
| Q2 24 | 59.3% | 11.5% | ||
| Q1 24 | 54.7% | 0.1% |
| Q4 25 | — | $0.44 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | — | $0.06 | ||
| Q1 25 | — | $0.12 | ||
| Q4 24 | — | $0.08 | ||
| Q3 24 | — | $0.10 | ||
| Q2 24 | — | $0.06 | ||
| Q1 24 | — | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $76.6M |
| Total Assets | $1.3B | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $85.5M | ||
| Q3 25 | $2.9M | $70.7M | ||
| Q2 25 | $2.5M | — | ||
| Q1 25 | $2.4M | — | ||
| Q4 24 | $2.5M | $23.2M | ||
| Q3 24 | $21.0M | $46.4M | ||
| Q2 24 | $26.7M | $8.3M | ||
| Q1 24 | $40.5M | $14.4M |
| Q4 25 | — | $76.6M | ||
| Q3 25 | — | $63.4M | ||
| Q2 25 | — | $9.5M | ||
| Q1 25 | — | $9.4M | ||
| Q4 24 | — | $7.1M | ||
| Q3 24 | — | $7.7M | ||
| Q2 24 | — | $5.2M | ||
| Q1 24 | — | $3.7M |
| Q4 25 | $1.3B | $184.9M | ||
| Q3 25 | $1.3B | $165.4M | ||
| Q2 25 | $1.3B | $139.5M | ||
| Q1 25 | $1.2B | $113.5M | ||
| Q4 24 | $1.2B | $96.6M | ||
| Q3 24 | $1.2B | $67.3M | ||
| Q2 24 | $1.2B | $28.9M | ||
| Q1 24 | $1.2B | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | — | $15.8M |
| FCF MarginFCF / Revenue | — | 25.9% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | 0.90× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $16.3M | ||
| Q3 25 | $99.8M | $-18.4M | ||
| Q2 25 | $80.5M | $16.3M | ||
| Q1 25 | $64.8M | $20.6M | ||
| Q4 24 | $91.0M | $-21.6M | ||
| Q3 24 | $93.2M | $38.6M | ||
| Q2 24 | $100.4M | $-4.3M | ||
| Q1 24 | $104.5M | $2.6M |
| Q4 25 | — | $15.8M | ||
| Q3 25 | — | $-24.9M | ||
| Q2 25 | — | $5.4M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | — | $-28.4M | ||
| Q3 24 | — | $38.6M | ||
| Q2 24 | — | $-6.0M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | — | 25.9% | ||
| Q3 25 | — | -59.3% | ||
| Q2 25 | — | 12.3% | ||
| Q1 25 | — | 5.8% | ||
| Q4 24 | — | -56.7% | ||
| Q3 24 | — | 55.1% | ||
| Q2 24 | — | -49.4% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 24.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 13.8% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | 0.90× | 1.34× | ||
| Q3 25 | 1.09× | — | ||
| Q2 25 | 0.67× | 11.02× | ||
| Q1 25 | 4.07× | 6.93× | ||
| Q4 24 | 1.96× | -11.32× | ||
| Q3 24 | 1.01× | 14.60× | ||
| Q2 24 | 1.47× | -3.09× | ||
| Q1 24 | 1.63× | 176.40× |
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
