Black Hills Corporation financials

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BKH CIK 0001130464

Source: EDGAR filings · Built 2026-06-02T02:29:19Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow -146.40M -24.90M 388.80M -19.60M -742.10M -225.54M
EBITDA 821.30M 773.20M 729.50M 706.10M 645.40M 652.76M
Working Capital 255.90M -21.10M -358.50M -595.00M -93.58M -203.24M
Net Debt 4.52B 4.37B 4.31B 4.65B 4.54B 3.76B
Operating Margin 23.51% 23.98% 20.54% 17.90% 21.20% 25.48%
Net Margin 12.75% 13.02% 11.39% 10.16% 12.26% 13.54%
Return on Equity (ROE) 7.63% 7.80% 8.15% 8.63% 8.49% 8.89%
Return on Assets (ROA) 2.68% 2.72% 2.73% 2.69% 2.59% 2.81%
Current Ratio 1.35× 0.97× 0.70× 0.64× 0.90× 0.71×
Debt-to-Equity 1.23× 1.25× 1.37× 1.56× 1.63× 1.47×
Effective Tax Rate 12.72% 11.34% 8.49% 8.51% 2.79% 11.94%
Cash Conversion Ratio 2.31× 2.63× 3.60× 2.26× -0.27× 2.38×
Accruals Ratio -0.04× -0.04× -0.07× -0.03× 0.03× -0.04×
SBC % of Revenue 0.52% 0.51% 0.30% 0.34% 0.50% 0.32%
CapEx Coverage 0.82× 0.97× 1.70× 0.97× -0.10× 0.71×
Free Cash Flow Per Share $-2.00 $-0.36 $5.79 $-0.27 $-11.72 $-3.61

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) 17.44× 14.97× 13.80× 17.72× 18.87× 16.84×
P/FCF — — 9.31× — — —
FCF Yield — — 10.74% — — —
EV / EBITDA 11.88× 11.08× 10.94× 6595.33× 7091.71× 5920.24×
P/S 2.29× 2.00× 1.59× 1829.53× 2368.04× 2296.95×
P/B 1.37× 1.20× 1.14× 1553.41× 1640.58× 1507.28×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue from Contract with Customer, Excluding Assessed Tax 2.29B 2.10B 2.30B 2.54B 1.93B 1.68B
Revenues 2.31B 2.13B 2.33B 2.55B 1.95B 1.70B
Operating Expenses 1.77B 1.62B 1.86B 2.10B 1.54B 1.27B
Operating Income (Loss) 537.50M 503.10M 472.70M 455.20M 409.40M 428.30M
Income Tax Expense (Benefit) 43.70M 36.30M 25.60M 25.20M 7.20M 32.92M
Net Income (Loss) Attributable to Parent 291.60M 273.10M 262.20M 258.40M 236.70M 227.61M
Earnings Per Share, Basic $3.99 $3.91 $3.91 $3.98 $3.74 $3.65
Weighted Average Number of Shares Outstanding, Basic 73.00M 69.80M 67.00M 64.90M 63.20M 62.38M
Earnings Per Share, Diluted $3.98 $3.91 $3.91 $3.97 $3.74 $3.65
Weighted Average Number of Shares Outstanding, Diluted 73.20M 69.90M 67.10M 73.20M 63.30M 62.44M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 182.80M 16.10M 86.60M 21.40M 8.92M 6.36M
Assets, Current 995.90M 742.30M 826.60M 1.07B 808.13M 493.29M
Assets 10.87B 10.02B 9.62B 9.62B 9.13B 8.09B
Liabilities, Current 740.00M 763.40M 1.19B 1.67B 901.71M 696.53M
Long-term Debt, Excluding Current Maturities 4.70B 4.25B 3.80B 3.61B 4.13B 3.53B
Stockholders' Equity Attributable to Parent 3.82B 3.50B 3.22B 2.99B 2.79B 2.56B
Common Stock, Shares, Outstanding 75.50M 71.70M 68.00M — — —

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Net Cash Provided by (Used in) Operating Activities 673.40M 719.30M 944.40M 584.80M -64.60M 541.86M
Payments to Acquire Property, Plant, and Equipment 819.80M 744.20M 555.60M 604.40M 677.50M 767.40M
Net Cash Provided by (Used in) Investing Activities -828.20M -746.00M -536.70M -603.90M -664.20M -761.66M
Payments of Dividends 197.90M 182.30M 168.10M 156.70M 145.00M 135.44M
Net Cash Provided by (Used in) Financing Activities 321.80M -42.90M -341.70M 32.30M 731.90M 216.88M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (BKH CIK 0001130464), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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