Black Stone Minerals (BSM) Research & Development (2014 - 2026)
Black Stone Minerals (BSM) recorded Research & Development of $4.74 million in Q3 2026, up 120.2% from $2.15 million a year earlier but down 1.8% from the prior quarter.
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Analysis
Black Stone Minerals (BSM) Research & Development (2014 - 2026) Analysis & Trends
On a TTM basis, Black Stone Minerals' Research & Development came in at $23.81 million as of Sep 30, 2026, up 159.8% year-over-year; for FY2025, it came in at $18.63 million, up 581.3% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of 264.4% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $2.74 million in FY2024 (+27.3%), $2.15 million in FY2023, $193,000 in FY2022 (-82.2%) and $1.08 million in FY2021.
- Quarterly Research & Development has ranged from $1,000 in Q4 2022 to $9.62 million in Q4 2025 over the past five years.
- On a year-over-year basis, Research & Development rose in two of the last five quarters, with growth averaging 41.4%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 250.0% in Q2 2024, against a decline of 97.8% in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $4.83 million (Q2 2026), $4.63 million (Q1 2026) and $9.62 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 696.20 Bn | 661.07 Bn | 47.44 Bn | 116.00 Mn |
| 2 | Shell | 563.81 Bn | 425.16 Bn | - | - |
| 3 | Chevron | 432.14 Bn | 404.83 Bn | 31.26 Bn | 259.00 Mn |
| 4 | TotalEnergies SE | 200.31 Bn | 75.66 Bn | 31.61 Bn | 134.00 Mn |
| 5 | Eni Spa | 181.16 Bn | 124.34 Bn | - | - |
| 6 | Conocophillips | 168.32 Bn | 137.35 Bn | 12.63 Bn | 60.00 Mn |
| 7 | Equinor Asa | 107.41 Bn | 20.34 Bn | 4.49 Bn | 311.00 Mn |
| 8 | Canadian Natural Resources | 103.54 Bn | 97.44 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 103.32 Bn | 88.28 Bn | 10.69 Bn | - |
| 10 | Black Stone Minerals | 3.03 Bn | 3.01 Bn | - | 4.74 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.74 Mn |
| Jun 30, 2026 | 4.83 Mn |
| Mar 31, 2026 | 4.63 Mn |
| Dec 31, 2025 | 9.62 Mn |
| Sep 30, 2025 | 2.15 Mn |
| Jun 30, 2025 | 1.75 Mn |
| Mar 31, 2025 | 5.11 Mn |
| Dec 31, 2024 | 156,000.00 |
| Sep 30, 2024 | 2.56 Mn |
| Jun 30, 2024 | 14,000.00 |
| Mar 31, 2024 | 3,000.00 |
| Dec 31, 2023 | 429,000.00 |
| Sep 30, 2023 | 1.71 Mn |
| Jun 30, 2023 | 4,000.00 |
| Mar 31, 2023 | 4,000.00 |
| Dec 31, 2022 | 1,000.00 |
| Sep 30, 2022 | 10,000.00 |
| Jun 30, 2022 | 2,000.00 |
| Mar 31, 2022 | 180,000.00 |
| Dec 31, 2021 | 2,000.00 |
API Access
Black Stone Minerals Research & Development 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=research-and-development&ticker=BSM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=BSM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();