Filing Flows › Black Stone Minerals, L.P. (BSM) › How it makes money
How Black Stone Minerals, L.P. (BSM) makes money
Black Stone Minerals, L.P. (BSM) made $99.7M of revenue in the third quarter 2026 (Q3 2026), -25% from a year earlier. Of every dollar of revenue, 56¢ was left as operating profit, 45¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $99.7M | 100.0% |
| Operating profit | $56.2M | 56.4% |
| Net earnings | $45.0M | 45.1% |
| Operating cash flow | $102M | 102.7% |
| Free cash flow | $87.7M | 88.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $99.7M | -25% |
| Q2 2026 | $149M | -7% |
| Q1 2026 | $59.4M | +0.2% |
| Q4 2025 | $119M | +42% |
| Q3 2025 | $132M | -2% |
| Q2 2025 | $159M | +46% |
| Q1 2025 | $59.3M | -44% |
From Black Stone Minerals, L.P.'s 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Black Stone Minerals, L.P. make money?
Black Stone Minerals, L.P. (BSM) made $99.7M of revenue in the third quarter 2026 (Q3 2026), -25% from a year earlier. Of every dollar of revenue, 56¢ was left as operating profit, 45¢ was left as net earnings.
What is Black Stone Minerals, L.P.'s profit margin?
Net earnings were $45.0M, 45.1% of revenue, in the third quarter 2026; the operating margin was 56.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.