Black Stone Minerals LP (BSM)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from BSM's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Black Stone Minerals LP's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $506M | $784M | $501M | $439M | $422M |
| Net income | $182M | $476M | $423M | $271M | $270M |
| Free cash flow | — | — | — | — | — |
| EPS (diluted) | — | — | — | — | — |
| Operating margin | 37.0% | 61.5% | 84.5% | 62.2% | 73.0% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own BSM
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Murray Stahl Horizon Kinetics LLC |
Held | $2M | 0.02% | Q2 2026 |
| Tweedy, Browne Tweedy, Browne Company |
Added | $1M | 0.09% | Q2 2026 |
| Jean-Marie Eveillard First Eagle Investment Management |
Trimmed | $409,111 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by Black Stone Minerals LP's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you. Every purchase since records began.
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In the full deep dive
Questions
Are Black Stone Minerals LP insiders buying the stock?
No open-market insider purchases of BSM in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Black Stone Minerals LP?
3 of the superinvestors Investingly tracks hold BSM in their latest 13F, including Murray Stahl, Tweedy, Browne, Jean-Marie Eveillard.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.