Black Stone Minerals LP (BSM)

NYSE · Energy · Oil & Gas E&P · USA

Black Stone Minerals LP is a mid cap company (market value between $2 billion and $10 billion) in the Oil & Gas E&P industry.

Black Stone Minerals LP owns and manages mineral and royalty interests across onshore producing basins in the continental United States. The company generates revenue through leasing its mineral assets and receiving royalty payments from oil and natural gas production across active resource plays including Haynesville/Bossier, Wolfcamp/Spraberry/Bone Springs, Bakken/Three Forks, and Eagle Ford shale.

From its FY2025 annual report (Form 10-K)

Intrinsic value, DCF valuation, financial health and value investing analysis for the Black Stone Minerals LP stock.

Our verdict on BSM

Fairly valued: intrinsic value $15.27 per share, market price $14.85, margin of safety 2.7% (as of 2026-10-30).

Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $15.27; the price of $14.85 is 3% below that value, and 80% of that value comes from beyond year five.

Leak Score: 51/100 on 9 of 12 signals (Weak Signal).

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Is BSM undervalued or overvalued?

BSM is fairly valued (as of the 2026-10-30 close). Discounting its cash flows at 7.8% (average of 3 methods) values the shares at $15.27; the price of $14.85 is 3% below that value, and 80% of that value comes from beyond year five.

What is the intrinsic value of BSM?

$15.27 per share (as of the 2026-10-30 close), against a market price of $14.85. That is a margin of safety of 2.7%. The value is the average of the valuation methods that apply to this company, recomputed every night after the US close.

What is Black Stone Minerals LP's Leak Score?

51 out of 100, which we rate "Weak Signal", on 9 of 12 value investing signals.