Black Stone Minerals, L.p. vs Infinity Natural Resources
Black Stone Minerals, L.p. is the larger business, with $470m of revenue in fiscal 2025 against $356m for Infinity Natural Resources (1.3 times as much). Infinity Natural Resources grew faster (37.6% against 8.4%). Black Stone Minerals, L.p. kept more of each dollar of sales as profit: a net margin of 57.6% against 3.9%.
| Latest fiscal year | Black Stone Minerals, L.p.BSM, 2025 | Infinity Natural ResourcesINR, 2025 |
|---|---|---|
| Revenue | $470m | $356m |
| Revenue growth | 8.4% | 37.6% |
| Net income | $270m | $13.8m |
| Operating margin | 65.6% | 3.3% |
| Net margin | 57.6% | 3.9% |
| Return on equity | — | 9.0% |
| Free cash flow | $203m | $262m |
| Cash | $1.5m | $2.8m |
| Total debt | $154m | $151m |
| Debt to equity | — | 49.1% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $1.2m |
| Employees | — | 101 |
| Market value | $3.13bn | $501m |
| Price vs our value range | Below our value range | — |
| Moat score | 94 (Strong) | — |
| Insider trades, 12 months | 7 buys, 8 sales | 16 buys, 1 sales |