Black Stone Minerals, L.P. (BSM) stock
BSMNYSECrude Petroleum & Natural GasFiscal year ends December 31
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Nov 3, 2026Score 6/3011% above fair value
$14.22+0.16 (+1.14%)
Close on Nov 13, 2026Market cap $3.23BP/E –Yield –
Black Stone Minerals, L.P. operating margin
Operating margin is operating income as a percentage of revenue.
Black Stone Minerals, L.P.'s operating margin for the twelve months ending Jun 30, 2026 was 64.3%. For fiscal 2025 it was 65.6%, against 63.0% the year before. The highest annual figure on record is 72.7% in fiscal 2022.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 65.6% | +2.7 |
| FY2024 | Dec 31, 2024 | 63.0% | −8.6 |
| FY2023 | Dec 31, 2023 | 71.5% | −1.2 |
| FY2022 | Dec 31, 2022 | 72.7% | +20.6 |
| FY2021 | Dec 31, 2021 | 52.1% | +13.6 |
| FY2020 | Dec 31, 2020 | 38.5% | −9.7 |
| FY2019 | Dec 31, 2019 | 48.2% | −4.0 |
| FY2018 | Dec 31, 2018 | 52.2% | +12.2 |
| FY2017 | Dec 31, 2017 | 40.1% | +29.5 |
| FY2016 | Dec 31, 2016 | 10.5% | +34.9 |
| FY2015 | Dec 31, 2015 | -24.4% | −57.5 |
| FY2014 | Dec 31, 2014 | 33.1% | −5.6 |
| FY2013 | Dec 31, 2013 | 38.8% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q2 FY2026 | Jun 30, 2026 | 73.9% | −2.8 |
| Q1 FY2026 | Mar 31, 2026 | 28.0% | −0.9 |
| Q4 FY2025 | Dec 31, 2025 | 63.1% | +6.3 |
| Q3 FY2025 | Sep 30, 2025 | 71.0% | +2.0 |
| Q2 FY2025 | Jun 30, 2025 | 76.7% | +14.2 |
| Q1 FY2025 | Mar 31, 2025 | 29.0% | −31.7 |
| Q4 FY2024 | Dec 31, 2024 | 56.8% | −20.6 |
| Q3 FY2024 | Sep 30, 2024 | 69.1% | +12.6 |
| Q2 FY2024 | Jun 30, 2024 | 62.5% | −4.8 |
| Q1 FY2024 | Mar 31, 2024 | 60.6% | −16.8 |
| Q4 FY2023 | Dec 31, 2023 | 77.3% | −2.9 |
| Q3 FY2023 | Sep 30, 2023 | 56.5% | −22.1 |
| Q2 FY2023 | Jun 30, 2023 | 67.3% | −6.5 |
| Q1 FY2023 | Mar 31, 2023 | 77.4% | +93.2 |
| Q4 FY2022 | Dec 31, 2022 | 80.3% | +4.7 |
| Q3 FY2022 | Sep 30, 2022 | 78.6% | +49.4 |
| Q2 FY2022 | Jun 30, 2022 | 73.8% | +44.6 |
| Q1 FY2022 | Mar 31, 2022 | -15.8% | −43.7 |
| Q4 FY2021 | Dec 31, 2021 | 75.6% | +34.6 |
| Q3 FY2021 | Sep 30, 2021 | 29.3% | −28.4 |
| Q2 FY2021 | Jun 30, 2021 | 29.1% | +42.9 |
| Q1 FY2021 | Mar 31, 2021 | 28.0% | −16.0 |
| Q4 FY2020 | Dec 31, 2020 | 40.9% | −2.4 |
| Q3 FY2020 | Sep 30, 2020 | 57.7% | +2.9 |
| Q2 FY2020 | Jun 30, 2020 | -13.8% | −75.3 |
| Q1 FY2020 | Mar 31, 2020 | 44.0% | +26.6 |
| Q4 FY2019 | Dec 31, 2019 | 43.4% | −26.0 |
| Q3 FY2019 | Sep 30, 2019 | 54.8% | +7.4 |
| Q2 FY2019 | Jun 30, 2019 | 61.5% | +30.9 |
| Q1 FY2019 | Mar 31, 2019 | 17.4% | −24.5 |
| Q4 FY2018 | Dec 31, 2018 | 69.4% | +45.3 |
| Q3 FY2018 | Sep 30, 2018 | 47.4% | +17.9 |
| Q2 FY2018 | Jun 30, 2018 | 30.7% | −17.3 |
| Q1 FY2018 | Mar 31, 2018 | 41.9% | −10.3 |
| Q4 FY2017 | Dec 31, 2017 | 24.1% | +31.1 |
| Q3 FY2017 | Sep 30, 2017 | 29.4% | −10.2 |
| Q2 FY2017 | Jun 30, 2017 | 48.0% | – |
| Q1 FY2017 | Mar 31, 2017 | 52.2% | – |
| Q4 FY2016 | Dec 31, 2016 | -7.0% | – |
| Q3 FY2016 | Sep 30, 2016 | 39.6% | – |
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