BSM Valuation

Black Stone Minerals LP

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12.160

-0.05(-0.410%)1D

Overview
Forecast
Valuation
Earnings

BSM Relative Valuation

BSM's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, BSM is overvalued; if below, it's undervalued.

Historical Valuation

Black Stone Minerals LP (BSM) is now in the Fair zone, suggesting that its current forward PE ratio of 10.53 is considered Fairly compared with the five-year average of 10.29. The fair price of Black Stone Minerals LP (BSM) is between 11.54 to 14.93 according to relative valuation methord.

Relative Value

Fair Zone

11.54-14.93

Current Price：12.23

Fair

10.48

Trailing

Forward

9.22

EV/EBITDA

Black Stone Minerals LP. (BSM) has a current EV/EBITDA of 9.22. The 5-year average EV/EBITDA is 8.68. The thresholds are as follows: Strongly Undervalued below 6.73, Undervalued between 6.73 and 7.70, Fairly Valued between 9.66 and 7.70, Overvalued between 9.66 and 10.63, and Strongly Overvalued above 10.63. The current Forward EV/EBITDA of 9.22 falls within the Historic Trend Line -Fairly Valued range.

10.29

EV/EBIT

Black Stone Minerals LP. (BSM) has a current EV/EBIT of 10.29. The 5-year average EV/EBIT is 11.10. The thresholds are as follows: Strongly Undervalued below 6.35, Undervalued between 6.35 and 8.73, Fairly Valued between 13.48 and 8.73, Overvalued between 13.48 and 15.86, and Strongly Overvalued above 15.86. The current Forward EV/EBIT of 10.29 falls within the Historic Trend Line -Fairly Valued range.

5.99

Black Stone Minerals LP. (BSM) has a current PS of 5.99. The 5-year average PS is 5.93. The thresholds are as follows: Strongly Undervalued below 4.28, Undervalued between 4.28 and 5.11, Fairly Valued between 6.75 and 5.11, Overvalued between 6.75 and 7.58, and Strongly Overvalued above 7.58. The current Forward PS of 5.99 falls within the Historic Trend Line -Fairly Valued range.

9.00

P/OCF

Black Stone Minerals LP. (BSM) has a current P/OCF of 9.00. The 5-year average P/OCF is 8.12. The thresholds are as follows: Strongly Undervalued below 5.69, Undervalued between 5.69 and 6.91, Fairly Valued between 9.33 and 6.91, Overvalued between 9.33 and 10.54, and Strongly Overvalued above 10.54. The current Forward P/OCF of 9.00 falls within the Historic Trend Line -Fairly Valued range.

0.00

P/FCF

Black Stone Minerals LP. (BSM) has a current P/FCF of 0.00. The 5-year average P/FCF is 12.73. The thresholds are as follows: Strongly Undervalued below -25.75, Undervalued between -25.75 and -6.51, Fairly Valued between 31.97 and -6.51, Overvalued between 31.97 and 51.21, and Strongly Overvalued above 51.21. The current Forward P/FCF of 0.00 falls within the Historic Trend Line -Fairly Valued range.

Black Stone Minerals LP (BSM) has a current Price-to-Book (P/B) ratio of 3.22. Compared to its 3-year average P/B ratio of 3.79 , the current P/B ratio is approximately -14.89% higher. Relative to its 5-year average P/B ratio of 3.51, the current P/B ratio is about -8.03% higher. Black Stone Minerals LP (BSM) has a Forward Free Cash Flow (FCF) yield of approximately 8.73%. Compared to its 3-year average FCF yield of 12.01%, the current FCF yield is approximately -27.36% lower. Relative to its 5-year average FCF yield of 12.45% , the current FCF yield is about -29.89% lower.

3.21

P/B

Median3y

3.79

Median5y

3.51

8.63

FCF Yield

Median3y

12.01

Median5y

12.45

Competitors Valuation Multiple

The average P/S ratio for BSM's competitors is 4.30, providing a benchmark for relative valuation. Black Stone Minerals LP Corp (BSM) exhibits a P/S ratio of 5.99, which is 39.37% above the industry average. Given its robust revenue growth of -7.35%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

BSM.N

Black Stone Minerals LP

Sixth Street Specialty Lending Inc

Kimbell Royalty Partners LP

Goldman Sachs BDC Inc

2.86

-771.67%

1.31B

Performance Decomposition

Market capitalization of BSM decreased by 13.99% over the past 1 year. The primary factor behind the change was an increase in Margin Expansion from 59.32 to 112.48.

The secondary factor is the Revenue Growth, contributed -7.35%to the performance.

Overall, the performance of BSM in the past 1 year is driven by Margin Expansion. Which is more sustainable.

-7.35%

115.17M → 106.71M

Revenue Growth

89.62%

59.32 → 112.48

Margin Expansion

-96.26%

279.45 → 10.45

P/E Change

-13.99%