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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and Twist Bioscience Corp (TWST). Click either name above to swap in a different company.
Twist Bioscience Corp is the larger business by last-quarter revenue ($103.7M vs $95.2M, roughly 1.1× Black Stone Minerals, L.P.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs -29.4%, a 105.3% gap on every dollar of revenue. On growth, Twist Bioscience Corp posted the faster year-over-year revenue change (16.9% vs -8.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Twist Bioscience is a public biotechnology company based in South San Francisco that manufactures synthetic DNA and DNA products for customers in a wide range of industries. Twist was founded in 2013 by Emily Leproust, Bill Banyai, and Bill Peck.
BSM vs TWST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $103.7M |
| Net Profit | $72.2M | $-30.5M |
| Gross Margin | — | 52.0% |
| Operating Margin | 78.6% | -31.7% |
| Net Margin | 75.9% | -29.4% |
| Revenue YoY | -8.7% | 16.9% |
| Net Profit YoY | 55.8% | 3.4% |
| EPS (diluted) | — | $-0.50 |
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 | $103.7M | ||
| Q3 25 | $105.2M | — | ||
| Q2 25 | $106.7M | — | ||
| Q1 25 | $115.3M | — | ||
| Q4 24 | $104.3M | — | ||
| Q3 24 | $103.2M | — | ||
| Q2 24 | $115.2M | — | ||
| Q1 24 | $116.8M | — |
| Q4 25 | $72.2M | $-30.5M | ||
| Q3 25 | $91.7M | — | ||
| Q2 25 | $120.0M | — | ||
| Q1 25 | $15.9M | — | ||
| Q4 24 | $46.3M | — | ||
| Q3 24 | $92.7M | — | ||
| Q2 24 | $68.3M | — | ||
| Q1 24 | $63.9M | — |
| Q4 25 | — | 52.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 78.6% | -31.7% | ||
| Q3 25 | 89.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 14.9% | — | ||
| Q4 24 | 45.6% | — | ||
| Q3 24 | 90.2% | — | ||
| Q2 24 | 59.5% | — | ||
| Q1 24 | 54.8% | — |
| Q4 25 | 75.9% | -29.4% | ||
| Q3 25 | 87.2% | — | ||
| Q2 25 | 112.5% | — | ||
| Q1 25 | 13.8% | — | ||
| Q4 24 | 44.4% | — | ||
| Q3 24 | 89.9% | — | ||
| Q2 24 | 59.3% | — | ||
| Q1 24 | 54.7% | — |
| Q4 25 | — | $-0.50 | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5M | $197.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $456.1M |
| Total Assets | $1.3B | $638.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $197.9M | ||
| Q3 25 | $2.9M | — | ||
| Q2 25 | $2.5M | — | ||
| Q1 25 | $2.4M | — | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $21.0M | — | ||
| Q2 24 | $26.7M | — | ||
| Q1 24 | $40.5M | — |
| Q4 25 | — | $456.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.3B | $638.1M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.2B | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $65.1M | $-24.8M |
| Free Cash FlowOCF − Capex | — | $-34.8M |
| FCF MarginFCF / Revenue | — | -33.5% |
| Capex IntensityCapex / Revenue | — | 9.6% |
| Cash ConversionOCF / Net Profit | 0.90× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $-24.8M | ||
| 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 | — | $-34.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -33.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| 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% |
TWST
| Industrial Chemicals | $37.2M | 36% |
| Diagnostics | $35.3M | 34% |
| Food Or Agriculture | $12.8M | 12% |
| Academic Research | $12.2M | 12% |
| Health Care | $6.1M | 6% |
