← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Black Stone Minerals, L.P.: Revenue declined 3.9% to $422M from $439M. Net income grew 10.5% to $300M from $271M. Free cash flow declined 27.4% to $203M from $280M. Operating margin expanded 1087 bps to 73.02%. Black Stone Minerals, L.P.'s annual comparison also shows margins improved while free cash flow declined; stock compensation grew faster than revenue.
The read at a glance✓ Audited against SEC data
- Growth — Revenue declined 3.9% to $422M from $439MWatch
- Profitability — Net income grew 10.5% to $300M from $271MOK
- Cash flow — Free cash flow declined 27.4% to $203M from $280MWatch
- Margins — Operating margin expanded 1087 bps to 73.02%OK
- Accounting — No overriding statistical warningNote
- Insiders — 11 purchases and 3 salesOK
Business
Such contractual standards allow our general partner and its directors and executive officers to manage and operate our business with greater flexibility and to subject the actions and determinations of our general partner and its directors and executive officers to lesser legal or judicial scrutiny than would be the case if state law fiduciary standards were applicable.
Where the revenue comes from
Fiscal 2025, as Black Stone Minerals, L.P. reports it. History and quarterly detail are in the app.
- Oil and condensate sales$209.4M
- Natural gas and natural gas liquids sales$191.6M
- Lease bonus and other income$21.4M
Leadership changes
From Black Stone Minerals, L.P.'s own filings, the day they're filed.
- William Mathis · Directors · departureeff. 2025-10-30
- Carrie Clark · Chief Commercial Officer · departureeff. 2025-06-29
- Evan Kiefer · Chief Financial Officer · departureeff. 2024-06-14
Latest filings
- 8-K · Company announcement2026-08-04
- 10-Q · Quarterly report2026-08-04
- 8-K · Company announcement2026-06-16
- 10-Q · Quarterly report2026-05-05
- 8-K · Company announcement2026-05-05
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Black Stone Minerals, L.P., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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