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Black Hills Corporation (BKH)

NYSE Utilities Multi-Utilities S&P MidCap 400
$84.87
+0.24 (+0.28%)
Close of Nov 06, 2026 · end-of-day data
Source: Black Hills Corporation's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$1.54B$1.68B$1.75B$1.73B$1.68B$1.93B$2.54B$2.30B$2.10B$2.29B
Operating income$336.18M$416.74M$397.04M$406.04M$428.30M$409.40M$455.20M$472.70M$503.10M$537.50M
Interest expense$136.11M$137.10M$139.97M$137.66M$143.47M$152.40M$161.00M$167.90M$181.70M$200.10M
Pre-tax income$205.89M$281.74M$255.88M$242.90M$275.68M$258.40M$296.00M$301.60M$320.00M$343.50M
Income tax$59.10M$73.37M-$23.67M$29.58M$32.92M$7.20M$25.20M$25.60M$36.30M$43.70M
Net income$72.97M$177.03M$258.44M$199.31M$227.61M$236.70M$258.40M$262.20M$273.10M$291.60M
EBITDA$511.71M$604.98M$593.37M$615.16M$652.76M$645.40M$706.10M$729.50M$773.20M$821.30M
EPS (basic)$1.41$3.33$4.75$3.29$3.65$3.74$3.98$3.91$3.91$3.99
EPS (diluted)$1.37$3.21$4.66$3.28$3.65$3.74$3.97$3.91$3.91$3.98
Diluted shares53.27M55.12M55.49M60.80M62.44M63.30M73.20M67.10M69.90M73.20M
Operating margin21.8%24.8%22.7%23.5%25.5%21.2%17.9%20.5%24.0%23.5%
Net margin4.7%10.5%14.8%11.5%13.5%12.3%10.2%11.4%13.0%12.8%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$13.52M$15.42M$20.78M$9.78M$6.36M$8.92M$21.40M$86.60M$16.10M$182.80M
Receivables$259.31M$248.33M$269.15M$255.81M$265.96M$321.65M$508.20M$350.30M$351.20M$389.00M
Inventory$103.61M$113.28M$117.30M$117.17M$117.40M$150.98M$207.40M$160.90M$153.90M$172.40M
Total current assets$466.81M$570.78M$503.83M$473.18M$493.29M$808.13M$1.07B$826.60M$742.30M$995.90M
Goodwill$1.30B$1.30B$1.30B$1.30B$1.30B$1.30B$1.30B$1.30B$1.30B$1.30B
Total assets$6.54B$6.66B$6.96B$7.56B$8.09B$9.13B$9.62B$9.62B$10.02B$10.87B
Total current liabilities$527.93M$649.10M$648.23M$811.29M$696.53M$901.71M$1.67B$1.19B$763.40M$740.00M
Short-term debt$5.74M$5.74M$5.74M$5.74M$8.44M$0$525.00M$600.00M$0$0
Long-term debt$3.21B$3.11B$2.95B$3.14B$3.53B$4.13B$3.61B$3.80B$4.25B$4.70B
Total debt$3.22B$3.12B$2.96B$3.15B$3.54B$4.13B$4.13B$4.40B$4.25B$4.70B
Total liabilities$4.93B$4.95B$4.78B$5.20B$5.53B$6.34B$6.62B$6.41B$6.52B$7.05B
Shareholders' equity$1.61B$1.71B$2.18B$2.36B$2.56B$2.79B$2.99B$3.22B$3.50B$3.82B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$320.48M$428.26M$488.81M$505.51M$541.86M-$64.60M$584.80M$944.40M$719.30M$673.40M
Capital expenditures$454.95M$326.01M$457.52M$818.38M$767.40M$677.50M$604.40M$555.60M$744.20M$819.80M
Free cash flow-$134.47M$102.25M$31.29M-$312.86M-$225.54M-$742.10M-$19.60M$388.80M-$24.90M-$146.40M
Investing cash flow-$1.59B-$317.12M-$465.85M-$816.21M-$761.66M-$664.20M-$603.90M-$536.70M-$746.00M-$828.20M
Financing cash flow$841.00M-$108.69M-$17.06M$300.21M$216.88M$731.90M$32.30M-$341.70M-$42.90M$321.80M
Dividends paid$87.57M$96.74M$106.59M$124.65M$135.44M$145.00M$156.70M$168.10M$182.30M$197.90M
Stock-based compensation$10.88M$7.63M$12.39M$12.10M$5.37M$9.70M$8.60M$7.00M$10.60M$11.80M
Depreciation & amortization$175.53M$188.25M$196.33M$209.12M$224.46M$236.00M$250.90M$256.80M$270.10M$283.80M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.