A Business at a Glance
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History and Organization Black Hills Corporation, a South Dakota corporation (together with its subsidiaries, referred to herein as the “Company,” "BHC," “we,” “us”, or “our”), is a customer-focused, growth-oriented utility company headquartered in Rapid City, South Dakota (incorporated in South Dakota in 1941). We operate our business in the United States, reporting our operating results through our Electric Utilities and Gas Utilities segments. Certain unallocated corporate expenses that support our operating segments are presented as Corporate and Other. Our Electric Utilities segment generates, transmits and distributes electricity to approximately 227,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming. Our Electric Utilities own 1,386 MW of generation and 9,478 miles of electric transmission and distribution lines.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.3B | 2.3B | 2.1B | 2.3B | 2.6B | 1.9B |
| Net Income | 292M | 292M | 273M | 262M | 258M | 237M |
| EPS | $3.98 | $3.98 | $3.91 | $3.91 | $3.97 | $3.74 |
| Free Cash Flow | -146M | -146M | -25M | 389M | -20M | -742M |
| ROIC | 5.6% | 5.8% | 5.8% | 5.7% | 5.6% | 5.8% |
| Gross Margin | - | - | - | 31.2% | 27.7% | 33.2% |
| Debt/Equity | 1.23 | 1.23 | 1.25 | 1.37 | 1.56 | 1.63 |
| Dividends/Share | $2.70 | $2.70 | $2.60 | $2.50 | $2.41 | $2.29 |
| Operating Income | 538M | 538M | 503M | 473M | 455M | 409M |
| Operating Margin | 23.3% | 23.3% | 23.6% | 20.3% | 17.8% | 21.0% |
| ROE | 7.6% | 8.0% | 8.1% | 8.4% | 8.9% | 8.9% |
| Shares Outstanding | 73M | 73M | 70M | 67M | 65M | 63M |
BLACK HILLS CORP /SD/ passes 2 of 9 quality checks, indicating weak fundamentals.
BLACK HILLS CORP /SD/ trades at 18.1x trailing earnings, compared to its 15-year median P/E of 14.8x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 5.7% with a gross margin of 30.7%. Total shareholder yield (dividends) is 3.7%. At current prices, the estimated annualized return to fair value is +23.4%.
BLACK HILLS CORP /SD/ (BKH) has a current P/E ratio of 18.1, compared to its historical median P/E of 14.8. The stock is currently considered Fair based on its historical valuation range.
BLACK HILLS CORP /SD/ (BKH) has a 5-year average return on invested capital (ROIC) of 5.7%. This is below average and may indicate limited pricing power.
BLACK HILLS CORP /SD/ (BKH) has a market capitalization of $5.3B. It is classified as a mid-cap stock.
Yes, BLACK HILLS CORP /SD/ (BKH) pays a dividend with a trailing twelve-month yield of 3.74%.
Based on historical P/E analysis, BLACK HILLS CORP /SD/ (BKH) appears fair. The current P/E of 18.1 is 23% above its historical median of 14.8. The estimated fair value CAGR (P/E method) is 0.6%.
BLACK HILLS CORP /SD/ (BKH) operates in the Electric Services industry, within the Utilities sector.
BLACK HILLS CORP /SD/ (BKH) reported annual revenue of $2.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
BLACK HILLS CORP /SD/ (BKH) has a net profit margin of 12.6%. This is a healthy margin.
BLACK HILLS CORP /SD/ (BKH) generated $-146 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
BLACK HILLS CORP /SD/ (BKH) has a debt-to-equity ratio of 1.23. This indicates moderate leverage.
BLACK HILLS CORP /SD/ (BKH) reported earnings per share (EPS) of $3.98 in its most recent fiscal year.
BLACK HILLS CORP /SD/ (BKH) has a return on equity (ROE) of 8.0%. This indicates moderate shareholder returns.
BLACK HILLS CORP /SD/ (BKH) has a 5-year average gross margin of 30.7%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for BLACK HILLS CORP /SD/ (BKH), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BLACK HILLS CORP /SD/ (BKH) has a book value per share of $52.19, based on its most recent annual SEC filing.
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