Black Stone Minerals, L.P. (BSM)
Black Stone Minerals, L.P. brought in $465.5M of revenue over the twelve months to September 30, 2026, down 3.0% from a year earlier. Net income was $214.8M, a net margin of 46.1%. At September 30, 2026 it held $5.5M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 3, 2026.
Key facts about Black Stone Minerals, L.P.
- Net worth
- Black Stone Minerals, L.P. has a market value (market cap) of $2.9B at the latest share price. A company's "net worth" usually means this market value or the shareholders' equity on its balance sheet.
- Revenue and profit
- In fiscal 2025 revenue was $469.9M (+6.9% year on year), with net income of $270.5M. Over the 12 months to September 30, 2026: revenue $465.5M, net income $214.8M.
- Cash flow
- In fiscal 2025 operations brought in $310.2M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 3, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Black Stone Minerals, L.P.'s next report is expected around February 23, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What Black Stone Minerals, L.P. does
Black Stone Minerals, L.P. is registered with the SEC under industry code SIC 1311 (Crude Petroleum & Natural Gas). Its shares trade on NYSE under the ticker BSM.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $469.9M | $270.5M | n/a | n/a |
| 2024 | $439.4M | $271.3M | n/a | n/a |
| 2023 | $592.2M | $422.5M | n/a | n/a |
| 2022 | $784.3M | $476.5M | n/a | n/a |
| 2021 | $505.7M | $182M | n/a | n/a |
| 2020 | $342.8M | $121.8M | n/a | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where BSM ranks in Energy
Latest SEC filings
What Black Stone Minerals, L.P. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 3, 2026Quarterly report 10-Q · period to September 30, 2026Revenue fell 2% to $129.9M versus the same quarter last year; net income fell 47% to $45M.
- November 3, 2026
- August 20, 2026Passive stake (5% or more) SCHEDULE 13G
- August 4, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 6.6% to $149M versus the same quarter last year; net income fell 12% to $99M.
- August 4, 2026
- June 16, 2026
- May 5, 2026Quarterly report 10-Q · period to March 31, 2026Revenue rose 7.5% to $123.9M versus the same quarter last year; net income fell 31% to $5.9M.
- May 5, 2026
- April 30, 2026
- April 30, 2026Additional proxy material DEFA14A
Insider trades
What the people running Black Stone Minerals, L.P. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 6 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| October 2, 2026 | Kyle Jerry V. Jr.Director | Received as pay | 1,309 | $18.7K |
| October 2, 2026 | DeWalch D MarkDirector | Received as pay | 1,309 | $18.7K |
| October 2, 2026 | Stuart Alexander D.Director | Received as pay | 1,658 | $23.7K |
| October 2, 2026 | Randall William E.Director | Received as pay | 1,571 | $22.5K |
| October 2, 2026 | Hamman Anne LenoirDirector | Received as pay | 1,309 | $18.7K |
| August 18, 2026 | Stuart Alexander D.Director | Gave as a gift | 15,900 | - |
| August 6, 2026 | Whitehead JamesDirector | Soldindirect | 498,343 | $6.6M |
| August 6, 2026 | Whitehead JamesDirector | Soldindirect | 1,628,762 | $21.5M |
Who owns BSM
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
Largest institutional holders
Insiders
15 insiders reported holding 9,535,843 shares in total, about $130.4M at the last price.
| Holder | Shares |
|---|---|
| Carter Thomas L JrExecutive Chairman, Director | 3,682,724 |
| Stuart Alexander D.Director | 2,041,733 |
| DeWalch D MarkDirector | 1,065,394631,248 held indirectly |
| Putman Luke StevensSVP, General Counsel, and Sec | 702,645 |
| Whitehead JamesDirector | 697,923646,058 held indirectly |
| Kyle Jerry V. Jr.Director | 331,4637,665 held indirectly |
| Linn Michael CDirector | 208,150 |
| Randall William E.Director | 194,955 |
| Barth Carin MarcyDirector | 142,447 |
| DeWalch TaylorCo-CEO and President, Director | 141,369 |
Questions about BSM
What does Black Stone Minerals, L.P. do?
Black Stone Minerals, L.P. is a company in the Energy sector, listed on NYSE as BSM. Its shares trade on NYSE under the ticker BSM.
What is Black Stone Minerals, L.P.'s net worth?
Black Stone Minerals, L.P. has a market value (market cap) of $2.9B at the latest share price. A company's "net worth" usually means this market value or the shareholders' equity on its balance sheet.
Is Black Stone Minerals, L.P. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $214.8M on revenue of $465.5M, a net margin of 46.1%.
How much revenue does Black Stone Minerals, L.P. make?
Over the twelve months to September 30, 2026 Black Stone Minerals, L.P. reported revenue of $465.5M. That is 3.0% less than a year earlier.
When did Black Stone Minerals, L.P. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 3, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the planned insider sale from November 9, 2026.
When is Black Stone Minerals, L.P.'s next earnings report?
Black Stone Minerals, L.P.'s next report is expected around February 23, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Black Stone Minerals, L.P. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.