Black Stone Minerals, L.P annual operating margin
2013
2014
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2016
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2019
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2021
2022
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2025
Black Stone Minerals, L.P Operating Margin Growth & History (BSM)
Black Stone Minerals, L.P's operating margin was 73.02% for fiscal 2025.
View full Black Stone Minerals, L.P company overviewBlack Stone Minerals, L.P annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 73.02% | +10.87 pp |
| 2024 | 2024-12-31 | 62.15% | −22.38 pp |
| 2023 | 2023-12-31 | 84.53% | +23.01 pp |
| 2022 | 2022-12-31 | 61.52% | +24.48 pp |
| 2021 | 2021-12-31 | 37.04% | −7.49 pp |
| 2020 | 2020-12-31 | 44.54% | −3.19 pp |
| 2019 | 2019-12-31 | 47.72% | −5.81 pp |
| 2018 | 2018-12-31 | 53.53% | +10.81 pp |
| 2017 | 2017-12-31 | 42.73% | +33.49 pp |
| 2016 | 2016-12-31 | 9.24% | +33.63 pp |
| 2015 | 2015-12-31 | −24.40% | −57.53 pp |
| 2014 | 2014-12-31 | 33.14% | −5.65 pp |
| 2013 | 2013-12-31 | 38.79% | — |
Black Stone Minerals, L.P quarterly operating margin
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 90.13% | −24.46 pp |
| Q1 2026 | 2026-03-31 | 13.43% | −1.46 pp |
| Q4 2025 | 2025-12-31 | 78.64% | +33.08 pp |
| Q3 2025 | 2025-09-30 | 89.46% | −0.79 pp |
| Q2 2025 | 2025-06-30 | 114.59% | +55.12 pp |
| Q1 2025 | 2025-03-31 | 14.89% | −39.89 pp |
| Q4 2024 | 2024-12-31 | 45.57% | −62.67 pp |
| Q3 2024 | 2024-09-30 | 90.25% | +44.88 pp |
| Q2 2024 | 2024-06-30 | 59.47% | −15.05 pp |
| Q1 2024 | 2024-03-31 | 54.78% | −55.76 pp |
| Q4 2023 | 2023-12-31 | 108.23% | +15.26 pp |
| Q3 2023 | 2023-09-30 | 45.37% | −31.59 pp |
| Q2 2023 | 2023-06-30 | 74.52% | +10.46 pp |
| Q1 2023 | 2023-03-31 | 110.54% | +114.21 pp |
| Q4 2022 | 2022-12-31 | 92.97% | +8.75 pp |
| Q3 2022 | 2022-09-30 | 76.96% | +64.21 pp |
| Q2 2022 | 2022-06-30 | 64.06% | +49.62 pp |
| Q1 2022 | 2022-03-31 | −3.67% | −22.92 pp |
| Q4 2021 | 2021-12-31 | 84.22% | +45.13 pp |
| Q3 2021 | 2021-09-30 | 12.75% | −26.16 pp |
| Q2 2021 | 2021-06-30 | 14.44% | +23.65 pp |
| Q1 2021 | 2021-03-31 | 19.24% | −67.29 pp |
| Q4 2020 | 2020-12-31 | 39.09% | +1.94 pp |
| Q3 2020 | 2020-09-30 | 38.92% | −27.62 pp |
| Q2 2020 | 2020-06-30 | −9.21% | −84.09 pp |
| Q1 2020 | 2020-03-31 | 86.53% | +74.85 pp |
| Q4 2019 | 2019-12-31 | 37.15% | −67.57 pp |
| Q3 2019 | 2019-09-30 | 66.53% | +24.71 pp |
| Q2 2019 | 2019-06-30 | 74.88% | +51.38 pp |
| Q1 2019 | 2019-03-31 | 11.68% | −24.98 pp |
| Q4 2018 | 2018-12-31 | 104.72% | +82.58 pp |
| Q3 2018 | 2018-09-30 | 41.82% | +15.20 pp |
| Q2 2018 | 2018-06-30 | 23.50% | −35.21 pp |
| Q1 2018 | 2018-03-31 | 36.66% | −27.17 pp |
| Q4 2017 | 2017-12-31 | 22.14% | +26.41 pp |
| Q3 2017 | 2017-09-30 | 26.63% | −13.02 pp |
| Q2 2017 | 2017-06-30 | 58.71% | +106.72 pp |
| Q1 2017 | 2017-03-31 | 63.83% | +45.80 pp |
| Q4 2016 | 2016-12-31 | −4.27% | +45.23 pp |
| Q3 2016 | 2016-09-30 | 39.64% | −0.28 pp |
| Q2 2016 | 2016-06-30 | −48.01% | +139.05 pp |
| Q1 2016 | 2016-03-31 | 18.03% | −4.14 pp |
| Q4 2015 | 2015-12-31 | −49.50% | −39.11 pp |
| Q3 2015 | 2015-09-30 | 39.92% | −6.23 pp |
| Q2 2015 | 2015-06-30 | −187.07% | −241.54 pp |
| Q1 2015 | 2015-03-31 | 22.18% | −35.30 pp |
| Q4 2014 | 2014-12-31 | −10.40% | — |
| Q3 2014 | 2014-09-30 | 46.15% | — |
| Q2 2014 | 2014-06-30 | 54.48% | — |
| Q1 2014 | 2014-03-31 | 57.47% | — |
Black Stone Minerals, L.P operating margin trends
Over the last five reported fiscal years, Black Stone Minerals, L.P's operating margin increased from 44.54% to 73.02%, a change of +28.49 percentage points. The latest reported quarter, Q2 2026, shows 90.13%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Black Stone Minerals, L.P filings at SEC.gov ↗