Black Stone Minerals, L.P. (BSM) intrinsic value & 10-year financials
Black Stone Minerals, L.P. (BSM) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 4.0% a year to $422.3M.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $15.03
- Revenue (FY2025)
- $422.3M
- Revenue growth (10-yr CAGR)
- 4.0%
- Free cash flow (FY2025)
- —
BSM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $422.3M | $299.9M | — | — | 73.0% | — |
| FY2024 | $439.4M | $271.3M | — | — | 62.2% | — |
| FY2023 | $501.1M | $422.5M | — | — | 84.5% | — |
| FY2022 | $784.3M | $476.5M | — | — | 61.5% | — |
| FY2021 | $505.7M | $182.0M | — | — | 37.0% | — |
| FY2020 | $296.6M | $121.8M | — | — | 44.5% | — |
| FY2019 | $492.8M | $214.4M | — | — | 47.7% | — |
| FY2018 | $594.7M | $295.6M | — | — | 53.5% | — |
| FY2017 | $402.8M | $157.2M | — | — | 42.7% | — |
| FY2016 | $297.3M | $20.2M | — | — | 9.2% | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Black Stone Minerals, L.P. has demonstrated mature, steady growth, with revenue compounding at 4.0% annually over the past decade.
Black Stone Minerals, L.P. 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
Black Stone Minerals, L.P. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Black Stone Minerals, L.P. is modeled at 4.0% normalized earnings growth with a 5.1% bond-yield adjustment.