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Black Stone Minerals BSM Q4 2025 Annual earnings

Reported February 23, 2026 · After market close

Revenue$118.7MBeat by $20.3MDiluted EPS$0.31Beat by $0.04
Revenue estimate$98.4M
EPS estimate$0.27

Next report

Aug 3, 2026 (In 3 weeks)
Revenue estimate$108.6M
EPS estimate$0.22

Financials

Q4 2025

Income statement

See full
Revenue$118.7M+41.8%
Operating income$74.9M+57.5%
Net income$72.2M+55.8%
EPS (diluted)$0.31+63.2%

Balance sheet

See full
Cash & equivalents$1.5M-41.3%
Total debt$4.7M+144%
Total assets$1.3B+9.6%

Cash flow

See full
Operating cash flow$65.1M-28.4%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$2.82B-8.5%
Enterprise value$2.82B-8.3%
P/E9.4×-1.9×
P/S6×-1.1×

Profitability

See full
Operating margin65.6%+2.7pp
Net margin63.8%+1.3pp

Returns & leverage

See full
Current ratio3.9×+1.3×

Segments

By product

See full
Oil and condensate sales$46.4M-22.7%
Natural gas and natural gas liquids sales$44.1M+4.1%
Lease bonus and other income$4.7M+138%

Versus estimates

Revenue

Q1 2026$59.4MMiss by $48.0M
Q4 2025$118.7MBeat by $20.3M
Q3 2025$77.9MMiss by $20.2MQ2 2025$106.7MMiss by $12.4MQ1 2025$115.3MMiss by $1.8MQ4 2024$104.3MMiss by $11.2M

Diluted EPS

Q1 2026$0.03Miss by $0.19
Q4 2025$0.31Beat by $0.04
Q3 2025$0.40Beat by $0.12Q2 2025$0.53Beat by $0.23Q1 2025$0.31Miss by $0.01Q4 2024$0.18Miss by $0.21

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Questions, answered.

When did Black Stone Minerals report Q4 2025 earnings?
Black Stone Minerals (BSM) reported Q4 2025 earnings on February 23, 2026 after market close.
What were Black Stone Minerals's Q4 2025 revenue and EPS?
Black Stone Minerals reported revenue of $118.7M and diluted EPS of $0.31 for Q4 2025.
Did Black Stone Minerals beat estimates in Q4 2025?
Revenue beat the consensus estimate of $98.4M by $20.3M. EPS beat the consensus estimate of $0.27 by $0.04.
How did Black Stone Minerals's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.8% from $104.3M a year earlier and diluted EPS grew 72.2% from $0.18.
Where can I find Black Stone Minerals's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001621434-26-000015) and the 10-K periodic report (0001621434-26-000018) directly on SEC EDGAR. The filing index links above go to sec.gov.