Black Hills Corporation

NYSE:BKH Stock Report

Market Cap: US$5.5b

Black Hills Balance Sheet Health

Financial Health criteria checks 2/6

Black Hills has a total shareholder equity of $3.9B and total debt of $4.7B, which brings its debt-to-equity ratio to 120.4%. Its total assets and total liabilities are $10.9B and $7.0B respectively. Black Hills's EBIT is $532.7M making its interest coverage ratio 2.8. It has cash and short-term investments of $182.8M.

Key information

120.37%

Debt to equity ratio

US$4.70b

Debt

Interest coverage ratio2.8x
CashUS$182.80m
EquityUS$3.91b
Total liabilitiesUS$6.96b
Total assetsUS$10.87b

Recent financial health updates

Here's Why Black Hills (NYSE:BKH) Has A Meaningful Debt Burden

Mar 22
Here's Why Black Hills (NYSE:BKH) Has A Meaningful Debt Burden

Recent updates

Black Hills: Overvalued Due To Significant CapEx And AI Risk

Mar 10

Black Hills (NYSE:BKH) Is Increasing Its Dividend To $0.703

Feb 13
Black Hills (NYSE:BKH) Is Increasing Its Dividend To $0.703

Earnings Report: Black Hills Corporation Missed Revenue Estimates By 7.0%

Feb 08
Earnings Report: Black Hills Corporation Missed Revenue Estimates By 7.0%

Black Hills' (NYSE:BKH) Upcoming Dividend Will Be Larger Than Last Year's

Jan 29
Black Hills' (NYSE:BKH) Upcoming Dividend Will Be Larger Than Last Year's

Earnings Working Against Black Hills Corporation's (NYSE:BKH) Share Price

Jul 25
Earnings Working Against Black Hills Corporation's (NYSE:BKH) Share Price

Return Trends At Black Hills (NYSE:BKH) Aren't Appealing

Jun 11
Return Trends At Black Hills (NYSE:BKH) Aren't Appealing

Getting In Cheap On Black Hills Corporation (NYSE:BKH) Is Unlikely

Apr 10
Getting In Cheap On Black Hills Corporation (NYSE:BKH) Is Unlikely

Here's Why Black Hills (NYSE:BKH) Has A Meaningful Debt Burden

Mar 22
Here's Why Black Hills (NYSE:BKH) Has A Meaningful Debt Burden

Black Hills: Ka-Ching, Ka-Ching, Another Dividend King

Feb 21

Black Hills Corporation: Double Digit Upside Potential

Jan 15

Black Hills Is Still A Buyable Dividend King Now

Nov 21

Why I Am Reducing Black Hills Stock From Buy To Hold

Nov 13

Black Hills: It's Not Too Late To Buy This Dividend King Now

Sep 18
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Investing In Renewable Resources And Innovative Energy Models

Investment in energy infrastructure and a move towards renewable resources supports future revenue growth and operational efficiencies.

Black Hills Corporation: The Time To Buy This Dividend King Is Now

Jul 11

Black Hills Corporation Continues As Solid Investment

Jun 07

Black Hills Corporation: Dividend King To Benefit From Population Growth

Apr 13

Financial Position Analysis

Short Term Liabilities: BKH's short term assets ($995.9M) exceed its short term liabilities ($740.0M).

Long Term Liabilities: BKH's short term assets ($995.9M) do not cover its long term liabilities ($6.2B).

Debt to Equity History and Analysis

Debt Level: BKH's net debt to equity ratio (115.7%) is considered high.

Reducing Debt: BKH's debt to equity ratio has reduced from 141.6% to 120.4% over the past 5 years.

Debt Coverage: BKH's debt is not well covered by operating cash flow (14.3%).

Interest Coverage: BKH's interest payments on its debt are not well covered by EBIT (2.8x coverage).

Balance Sheet

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/15 10:01
End of Day Share Price 2026/03/13 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Black Hills Corporation is covered by 13 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Edward DeAriasBMO Capital Markets Equity Research
James ThalackerBMO Capital Markets Equity Research
Ross FowlerBofA Global Research