Black Stone Minerals (BSM) Operating Margin (2014 - 2026)
Black Stone Minerals' Operating Margin was 43.28% in Q3 2026, down 27.75 percentage points from 71.03% a year earlier and down 30.60 percentage points from the prior quarter.
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Analysis
Black Stone Minerals (BSM) Operating Margin (2014 - 2026) Analysis & Trends
On a trailing twelve-month basis, Black Stone Minerals' Operating Margin was 49.43% through Sep 30, 2026, down 7.16 percentage points year-over-year; for FY2025, it came in at 65.63%, up 3.48 percentage points from FY2024.
- Operating Margin shows a five-year change of +27.08 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 62.15% in FY2024 (-9.38 pp), 71.53% in FY2023 (+10.01 pp), 61.52% in FY2022 (+24.48 pp) and 37.04% in FY2021 (-1.50 pp).
- Quarterly Operating Margin has moved between -3.67% (Q1 2022) and 92.97% (Q4 2022) over five years.
- Compared with a year earlier, Operating Margin has declined for three straight quarters, with an average year-over-year change of -8.37 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q1 2023 (a gain of 81.12 percentage points); the worst was Q1 2025 (a drop of 39.89 percentage points).
- Per Business Quant data, BSM's Operating Margin in the three quarters before Q3 2026 was 73.89% (Q2 2026), 13.43% (Q1 2026) and 63.06% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn | 18.93% |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - | - |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn | 20.54% |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn | 39.66% |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - | 7.15% |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn | 50.83% |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn | 36.02% |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn | 78.41% |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn | 14.27% |
| 10 | Black Stone Minerals | 3.03 Bn | 3.01 Bn | - | 43.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 43.28% |
| Jun 30, 2026 | 73.89% |
| Mar 31, 2026 | 13.43% |
| Dec 31, 2025 | 63.06% |
| Sep 30, 2025 | 71.03% |
| Jun 30, 2025 | 76.67% |
| Mar 31, 2025 | 14.89% |
| Dec 31, 2024 | 53.12% |
| Sep 30, 2024 | 69.05% |
| Jun 30, 2024 | 59.47% |
| Mar 31, 2024 | 54.78% |
| Dec 31, 2023 | 77.34% |
| Sep 30, 2023 | 45.37% |
| Jun 30, 2023 | 67.32% |
| Mar 31, 2023 | 77.44% |
| Dec 31, 2022 | 92.97% |
| Sep 30, 2022 | 76.96% |
| Jun 30, 2022 | 64.06% |
| Mar 31, 2022 | -3.67% |
| Dec 31, 2021 | 84.22% |
API Access
Black Stone Minerals Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BSM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BSM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BSM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();