BSM EV/EBITDA: current value, 10-year range and year-by-year history
Cash & Leverage
BSM's ev/ebitda is higher than 65% of the last 10 years.
EV/EBITDA History
BSM EV/EBITDA by year
Yearly range of BSM’s ev/ebitda from 2016 to 2026. Over the full period it ranged from 3.2 to 30.7, averaging 11.1.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 8.6 | 9.4 | 10.1 | 9.9 |
| 2025 | 8.5 | 9.8 | 12.2 | 8.6 |
| 2024 | 6.9 | 7.8 | 9.7 | 9.7 |
| 2023 | 4.9 | 6.2 | 7.5 | 6.5 |
| 2022 | 7.4 | 11.1 | 16.6 | 8.0 |
| 2021 | 7.6 | 13.9 | 18.2 | 9.6 |
| 2020 | 3.2 | 5.8 | 9.1 | 7.0 |
| 2019 | 5.8 | 8.3 | 10.6 | 8.7 |
| 2018 | 8.7 | 14.5 | 17.2 | 8.7 |
| 2017 | 13.0 | 19.0 | 30.7 | 15.4 |
| 2016 | 21.6 | 24.3 | 26.2 | 25.2 |
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An acquisition-style valuation multiple: Enterprise Value (market cap + net debt) divided by operating earnings before accounting adjustments. Compares companies fairly regardless of their capital structure.
(Market Cap + Net Debt) / EBITDAUnlike P/E, this metric accounts for debt — two companies with identical operations but different leverage will show similar EV/EBITDA. Low vs history suggests the total business is modestly priced.
- EBITDA ignores capital expenditure. For asset-heavy businesses (airlines, mining, utilities), this understates the real cost — use EV/EBIT or EV/FCF instead.
- Large acquisitions temporarily spike net debt and can distort the ratio for 1–2 years during integration.
Is BSM EV/EBITDA High or Low Right Now?
Black Stone Minerals, L.P.'s EV/EBITDA is currently 9.9, which is above average relative to its 10-year historical range. The 10-year median EV/EBITDA for BSM is approximately 9.5. See all BSM valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.