Black Stone Minerals, L.P.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $469.9M | $433.7M | $592.2M | $663.6M | $359.3M |
| Operating expenses | $161.5M | $160.6M | $168.6M | $181.1M | $171.9M |
| Operating income | $308.4M | $273.1M | $423.6M | $482.5M | $187.3M |
| Interest expense | $8.9M | $3.1M | $2.8M | $6.3M | $5.6M |
| Net income | $299.9M | $271.3M | $422.5M | $476.5M | $182.0M |
| Balance Sheet | |||||
| Cash and equivalents | $1.5M | $2.5M | $70.3M | $4.3M | $8.9M |
| Current assets | $95.6M | $78.5M | $193.1M | $173.4M | $108.0M |
| Total assets | $1.3B | $1.2B | $1.3B | $1.3B | $1.2B |
| Current liabilities | $24.6M | $30.4M | $25.8M | $30.7M | $77.1M |
| Total liabilities | $207.1M | $89.5M | $49.5M | $61.3M | $184.3M |
| Cash Flow Statement | |||||
| Cash from operations | $310.2M | $389.0M | $521.3M | $425.0M | $256.9M |
| Depreciation and amortization | $36.9M | $45.2M | $45.7M | $47.8M | $61.0M |
| Stock-based compensation | $9.6M | $8.6M | $10.8M | $17.4M | $12.2M |
| Capital expenditure | $298,000 | $1.4M | $450,000 | $488,000 | $428,000 |
| Free cash flow | $309.9M | $387.6M | $520.8M | $424.5M | $256.5M |
| Share repurchases | — | $4.4M | $5.5M | $3.0M | $2.0M |
Shares outstanding 212.5M · Free float 76.1%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.