Login
Create Account

Powerpack

Unlock full stockrow access for only $7.9/month and boost yourself as an investor.

Watchlist

Keep track of companies that you follow and research.

10 Years of Data

Full access to our data with predictions and indicators that we calculate daily.

Screener

Full access to our screener with tons of custom values and customizable email notifications.

XLS Exports

Excel export of financials and screeners you define and save.

Black Hills Corporation BKH

Utilities — Utilities Regulated Gas
Dividend Aristocrat
Growth Flags show if company had growth for consecutive years

We limit data available in the Overview Report for users who do not have Powerpack

Get access to target analyst prices, predictions, compound annual growth rates and more than four years of historical data.
Register an account and get your Powerpack now or Login

Insider Decisions

Total sells
1.33
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — 1 — — — — — 1 — — — —
Insider Ownership
0.07%

Capital & Financial Ratios

Market Cap
5,440.00
Revenue
2,299.30
Net Income
308.10
Free Cash Flow
(305.20)
Net Debt
4,324.40
Current Ratio
0.52
Debt/Equity
1.09
P/E ratio
17.75
P/S ratio
2.33
P/B ratio
1.33
Past 5Y EPS Growth
3.57%
This Y EPS Growth
5.93%
Next Y EPS Growth
5.41%
Next 5Y EPS Growth
5.87%
in millions of $

Dividends

Payout Ratio
0.67
Annual Dividend Rate
2.50
Annual Dividend Yield
5.06%
total individual payouts
2028 ‡‡‡‡
2027 ‡‡‡‡‡
2026 2.81
—
—
—
2025 2.70
—
—
—
—
2024 2.60
—
—
—
—
2023 2.50
—
—
—
—
2022 2.41
—
—
—
—
2021 2.29
—
—
—
—
2020 2.17
—
—
—
—
2019 2.05
—
—
—
—
2018 1.93
—
—
—
—
2017 1.81
—
—
—
—
2016 1.68
—
—
—
—
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 93.00 23.40 190.40 79.50
Receivables 368.80 371.00 412.30 306.40
Inventory 160.90 153.90 172.40 157.90
Other 203.90 194.00 220.80 201.30
826.60 742.30 995.90 745.10
2023 2024 2025 Q'26
Payables 186.40 229.10 311.70 275.20
ST’ Debt 600.00 — — 410.00
Other 105.40 98.30 105.70 380.80
1,185.10 763.40 740.00 1,425.20
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 780.70 452.80 — —
—
’25 805.20 439.00 430.20 635.60
2,310.00
’24 726.40 402.60 401.60 597.10
2,127.70
’23 921.20 411.30 407.10 591.70
2,331.30
’22 823.57 474.20 462.61 791.42
2,551.80
’21 633.43 372.57 380.59 562.51
1,949.10
’20 537.05 326.91 346.59 486.39
1,696.94
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 176.20 195.10 — —
—
’25 227.80 188.60 88.90 168.10
673.40
’24 233.40 230.60 102.10 153.20
719.30
’23 328.70 276.40 150.90 188.40
944.40
’22 264.12 177.91 52.26 90.51
584.80
’21 (386.09) 135.91 105.41 80.16
(64.60)
’20 191.97 117.04 110.45 122.40
541.86
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 (91.20) (23.00) — —
—
’25 74.90 (30.30) (89.50) (101.50)
(146.40)
’24 57.20 64.40 (86.00) (60.50)
(24.90)
’23 209.60 133.80 (9.20) 54.60
388.80
’22 127.34 20.89 (120.24) (47.58)
(19.60)
’21 (532.39) (37.26) (72.96) (99.49)
(742.10)
’20 20.09 (59.39) (77.23) (109.01)
(225.54)
in millions of $

EPS

Mar Jun Sep Dec Year
’26 1.73 0.50 — —
—
’25 1.87 0.38 0.34 1.39
3.98
’24 1.87 0.33 0.35 1.37
3.91
’23 1.73 0.35 0.67 1.17
3.91
’22 1.82 0.52 0.54 1.11
3.97
’21 1.54 0.40 0.70 1.11
3.74
’20 1.51 0.33 0.58 1.23
3.65

Target Price Range

High
‡‡‡‡‡
‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡

Recommendation Rating

1.5
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 59.08 46.43 49.34 54.92 — — —
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 80.95 73.98 65.59 74.02 — — —
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,982 2,874 2,841 2,795 — — —
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.86 0.81 0.75 0.83 — — —
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,551.80 2,331.30 2,127.70 2,310.00 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 51.78% 57.84% 65.68% 64.00% — — —
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 296.00 301.60 320.00 343.50 — — —
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 11.60% 12.94% 15.04% 14.87% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 270.80 276.00 283.70 299.80 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 260.70 266.90 280.80 293.50 — — —
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 39.32 34.80 30.48 31.64 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ 3.98 3.91 3.91 3.99 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 9.01 14.10 10.31 9.22 — — —
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (9.31) (8.29) (10.66) (11.23) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (0.30) 5.80 (0.36) (2.01) — — —
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 47.61 49.34 51.36 53.50 — — —
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 64.90 67.00 69.80 73.00 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 17.66 14.08 14.89 17.44 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.79 1.59 1.92 2.19 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1.48 1.12 1.14 1.30 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.40 3.43 4.19 4.28 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (442.73) 20.59 (357.89) (67.48) — — —
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 584.80 944.40 719.30 673.40 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (604.40) (555.60) (744.20) (819.80) ‡‡‡‡‡ ‡‡‡‡‡ —
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (19.60) 388.80 (24.90) (146.40) — — —
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (595.00) (358.50) (21.10) 255.90 — — —
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4,132.30 4,401.20 4,250.20 4,701.10 — — —
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4,105.30 4,308.20 4,226.80 4,510.70 — — —
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3,089.90 3,305.80 3,585.20 3,905.70 — — —
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2.76% 2.73% 2.78% 2.79% — — —
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3.95% 3.88% 4.03% 3.99% — — —
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.65% 8.20% 7.93% 7.79% — — —
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Black Hills Corporation (BKH), a resilient utility serving electricity and natural gas in the Midwest and West, has delivered steady profitability amid revenue fluctuations, with net income surging 243% and EPS climbing 177% from 2016 to 2024. Revenue peaked at a 65% gain by 2022 before a 17% dip, driven by acquisitions, divestitures, and events like the 2022 Marshall Fire, yet efficiency soared with revenue per employee hitting $855,000 and margins rebounding to 65.7%. Analysts forecast a robust 29% revenue rise by 2028, fueled by rate hikes, customer growth, and renewables push via IRA incentives.

The balance sheet strengthened with equity doubling to $3.59 billion, offsetting a 32% debt increase typical for capex-heavy utilities ($744 million in 2024), while ROE holds at 8%. Valuation looks attractive at teens PE, under 1.5x PB, and stock price tracks earnings stability, outperforming in downturns. EPS is projected to grow 22% to $4.88 by 2028, with price targets implying 10% average upside, though insider silence and one CFO sale add caution.

Risks like regulatory hurdles, weather extremes, and debt costs loom, but BKH’s dividend appeal and earnings momentum position it as a stable hold with 10-20% potential gains—ideal for income seekers eyeing long-term utility plays. Dive into the full analysis for trends, correlations, and Q1 2026 catalysts.

Read full commentary →

Black Hills Corporation (BKH) Latest News

News by impact score

Fine-tune

12 Aug

3 transcript www.fool.com, 5:28 PM
Black Hills Corporation released its Q2 2026 earnings call transcript covering financial results and executive commentary. Earnings call details on performance and outlook can moderately shift near-term investor sentiment.

8 Aug

3 , 10:08 PM
Black Hills reported stronger Q2 earnings, prompting questions on whether positive results are already reflected in the stock price. Stronger quarterly earnings update financial performance with moderate but limited effects on trajectory.

3 , 8:20 PM
Black Hills reports higher earnings with a steady dividend, prompting questions on whether its capital allocation narrative is changing. Higher earnings and consistent dividends can moderately affect investor sentiment and valuation metrics for the utility.

7 Aug

3 www.marketbeat.com, 8:04 PM
Black Hills Corporation Q2 earnings call highlighted financial results, operational updates and strategic priorities for the utility company. Quarterly earnings updates can shift near-term investor sentiment and valuation but rarely alter long-term company trajectory.

6 Aug

4 transcript , 7:03 PM
Black Hills Corp reaffirms its guidance and advances 3 GW capacity projects. Reaffirmed guidance plus 3 GW project advancement signals major capacity growth that can shift long-term trajectory.

3 transcript app.moby.co, 8:30 AM
Black Hills Corporation held its Q2 2026 earnings call covering quarterly financial results, revenue, earnings per share, and operational updates for the utility company. Quarterly earnings data typically affect near-term investor views on BKH financial performance without indicating major strategic shifts.

30 Jul

4 transcript , 11:01 PM
NorthWestern Energy Group Inc highlighted merger progress with Black Hills Corporation during its Q2 2026 earnings call. Merger progress signals major strategic shifts that could significantly alter Black Hills Corporation's trajectory.

24 Jun

5 www.keloland.com, 5:44 PM
Merger of Black Hills Corp. and NorthWestern has been approved. Approved merger will fundamentally redefine Black Hills Corporation's structure and long-term market position.

19 Jun

3 www.keloland.com, 12:07 PM
Settlements reached in merger of South Dakota utilities involving Black Hills Corporation. Merger settlements may moderately affect Black Hills Corporation operational structure and market position.

15 Jun

4 , 3:14 PM
Bank of America highlights strategic value in a potential combination of Black Hills Corporation and NorthWestern Corporation, pointing to synergies for the utilities. Analyst view on BKH-NWE combination points to possible major strategic shift and stock-moving implications for Black Hills.

12 Jun

3 , 4:16 PM
Black Hills Corp. requests rate review in Colorado. Rate review request may alter future revenues through regulatory rate adjustments.

10 Jun

4 GlobeNewswire, 8:45 AM
Black Hills Corp. provides an update on its 1.8-gigawatt project in Cheyenne. Large-scale 1.8 GW project update represents major strategic capacity expansion with significant long-term growth implications.

11 May

3 Simply Wall St., 6:31 AM
Black Hills Corporation (BKH) missed revenue estimates by 14% in its latest earnings report. Missing revenue estimates by 14% will moderately influence BKH's financial performance and investor sentiment.

9 May

4 Insider Monkey, 5:27 PM
Black Hills Corporation (BKH) secures deal with Microsoft, strengthening its prospects as a high-growth utility stock recommended for purchase. Microsoft deal represents major strategic partnership boosting BKH's growth trajectory and market positioning.

3 www.marketbeat.com, 10:07 AM
Black Hills Corporation released Q1 earnings call highlights detailing financial results, operational updates, and forward guidance. Q1 earnings highlights affect financial performance and investor sentiment but are routine quarterly updates.

7 May

4 transcript www.fool.com, 1:20 PM
Black Hills Corporation (BKH) released Q1 2026 earnings call transcript detailing quarterly financial results, operational updates, and forward guidance. Q1 2026 earnings transcript reveals financial performance and strategic outlook likely to significantly influence BKH investor sentiment and stock trajectory.

4 app.moby.co, 8:30 AM
Black Hills Corporation released summary of Q1 2026 earnings call. Q1 earnings call summary details financial results and guidance that significantly influence stock performance and investor outlook.

6 May

4 GlobeNewswire, 4:15 PM
Black Hills Corp. reaffirms 2026 earnings guidance, reports first-quarter 2026 results, and provides updates on merger with NorthWestern Energy and data center progress. Reaffirmation of 2026 earnings guidance combined with Q1 results, merger updates, and data center progress represent major strategic developments poised to significantly influence Black Hills Corp.'s trajectory and investor sentiment.

28 Apr

3 Insider Monkey, 9:20 PM
BMO Capital highlights hyperscaler opportunity for Black Hills Corporation (BKH). Analyst spotlight on hyperscaler demand signals moderate boost to BKH's growth and investor sentiment.

14 Apr

4 Barrons.com, 8:12 PM
Microsoft purchased 3,200 acres in South Dakota for a massive data center campus, positioning Black Hills Corporation (BKH) as the primary utility to supply power and benefit from surging electricity demand. Microsoft's 3,200-acre data center will generate massive long-term power demand, significantly boosting Black Hills Corporation's revenue and growth prospects.

4 Barrons.com, 4:33 PM
Microsoft's purchase of 3,200 acres for a data center is boosting Black Hills Corporation (BKH) utility stock. Microsoft's data center requires substantial power, positioning BKH for major long-term revenue growth as the serving utility.

2 Apr

4 GlobeNewswire, 12:12 PM
Shareholders of Black Hills Corp. (BKH) and NorthWestern Energy have approved merger proposals, clearing a key step toward combining the two utility companies. Shareholder approval advances a major merger that could significantly expand BKH's operations, customer base, and market presence.

19 Feb

3 GlobeNewswire, 8:45 AM
Black Hills Corporation requested a rate review from South Dakota regulators to adjust electric and natural gas rates. Rate review request targets revenue adjustments in core regulated markets, potentially influencing financial performance but subject to regulatory approval.

17 Feb

5 Simply Wall St., 1:10 AM
NorthWestern Energy merges with Black Hills Corporation, reshaping grid investments and accelerating data center growth. Merger with NorthWestern Energy fundamentally redefines Black Hills Corporation's competitive position in grid infrastructure and data center expansion.

12 Feb

3 GuruFocus.com, 10:01 PM
NorthWestern Energy Group Inc (NWE) reported its Q4 2025 earnings, highlighting a strategic merger aimed at enhancing operational efficiency and market presence. The merger is expected to create synergies that will benefit both companies and improve service delivery to customers. Key financial metrics were discussed, showcasing growth in revenue and customer base, alongside plans for future investments in infrastructure and renewable energy initiatives. The management expressed optimism about the merger's potential to drive long-term value. The merger could moderately influence Black Hills Corporation's competitive positioning and market dynamics.

9 Feb

3 Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.MT NewswiresInsider MonkeyAssociated Press Finance, 8:08 AM
Black Hills Corporation (BKH) has announced an increase in its dividend to $0.703 per share, reflecting the company's commitment to returning value to its shareholders. This decision underscores the company's financial stability and growth potential, as it continues to enhance its dividend policy. The dividend increase indicates financial health and may positively influence investor sentiment, but its overall impact on the company's trajectory is expected to be limited.

8 Feb

3 Simply Wall St., 7:21 AM
Black Hills Corporation reported earnings that fell short of revenue estimates by 7.0%, raising concerns among investors about the company's financial performance. The miss in revenue could indicate challenges in meeting market expectations and may affect future growth prospects. Missing revenue estimates suggests potential challenges in financial performance and market sentiment.

6 Feb

4 Simply Wall St.Insider MonkeyInsider MonkeySimply Wall St.MT NewswiresAssociated Press FinanceMarketBeatSimply Wall St., 2:05 PM
Black Hills Corporation (BKH) reported earnings that exceeded expectations, leading to a dividend increase and progress on major projects. The company's strong financial performance and strategic initiatives are expected to enhance its market position and investor confidence. Earnings beat, dividend hike, and project advancements indicate significant strategic moves that could alter the company's trajectory.

4 transcript www.marketbeat.com, 4:27 AM
Black Hills Corporation reported its Q4 earnings, highlighting strong financial performance driven by increased demand and strategic investments. The company emphasized its commitment to sustainability and infrastructure improvements, which are expected to enhance operational efficiency. Management provided insights into future growth opportunities and ongoing projects aimed at expanding service capabilities. Overall, the earnings call reflected a positive outlook for the company amidst evolving market conditions. Significant strategic moves and investments are expected to alter the company's trajectory and investor sentiment.

5 Feb

4 transcript GuruFocus.com, 6:01 PM
Black Hills Corporation (BKH) reported strong growth in its Q4 2025 earnings call, despite facing rising costs. The company highlighted its strategic initiatives and operational efficiencies that contributed to its performance. Management expressed optimism about future growth prospects while acknowledging the challenges posed by increasing expenses in the energy sector. Strong growth amid rising costs indicates significant strategic moves that could alter the company's trajectory.
© 2016–2026 stockrow.com Terms and Conditions Indicators Contact Us