Black Hills Corporation

NYSE:BKH Stock Report

Market Cap: US$5.4b

Black Hills Past Earnings Performance

Past criteria checks 5/6

Black Hills has been growing earnings at an average annual rate of 4.3%, while the Integrated Utilities industry saw earnings growing at 7.8% annually. Revenues have been growing at an average rate of 4.6% per year. Black Hills's return on equity is 7.6%, and it has net margins of 12.5%.

Key information

4.31%

Earnings growth rate

1.30%

EPS growth rate

Integrated Utilities Industry Growth5.10%
Revenue growth rate4.60%
Return on equity7.59%
Net Margin12.53%
Last Earnings Update30 Sep 2025

Recent past performance updates

Recent updates

Black Hills: Now An Even More Buyable Dividend King

Sep 14

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

Earnings Report: Black Hills Corporation Missed Revenue Estimates By 8.0%

Feb 08
Earnings Report: Black Hills Corporation Missed Revenue Estimates By 8.0%

Black Hills' (NYSE:BKH) Dividend Will Be Increased To $0.676

Jan 31
Black Hills' (NYSE:BKH) Dividend Will Be Increased To $0.676

Returns At Black Hills (NYSE:BKH) Appear To Be Weighed Down

Jan 29
Returns At Black Hills (NYSE:BKH) Appear To Be Weighed Down

Black Hills Corporation: Double Digit Upside Potential

Jan 15

Black Hills Corporation's (NYSE:BKH) Business Is Trailing The Market But Its Shares Aren't

Dec 05
Black Hills Corporation's (NYSE:BKH) Business Is Trailing The Market But Its Shares Aren't

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
User avatar

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

Black Hills: Dividend Aristocrat Value You Shouldn't Overlook

Jan 31

Black Hills Corporation: Undervalued Share And Rising Dividend, But Slower Growth Ahead

Dec 19

Black Hills Corporation Still In The Black

Nov 08

Revenue & Expenses Breakdown

How Black Hills makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:BKH Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Sep 252,27228540
30 Jun 252,24328440
31 Mar 252,20728040
31 Dec 242,12827340
30 Sep 242,12225540
30 Jun 242,12827640
31 Mar 242,13727640
31 Dec 232,33126240
30 Sep 232,53125500
30 Jun 232,586245-10
31 Mar 232,64925500
31 Dec 222,55225800
30 Sep 222,32325700
30 Jun 222,241266-40
31 Mar 222,139258-10
31 Dec 211,949237-10
30 Sep 211,87324300
30 Jun 211,83923560
31 Mar 211,79323130
31 Dec 201,69722830
30 Sep 201,68822040
30 Jun 201,66719530
31 Mar 201,67418920
31 Dec 191,73519900
30 Sep 191,75821830
30 Jun 191,75522430
31 Mar 191,77723430
31 Dec 181,75426530
30 Sep 181,70824200
30 Jun 181,72225300
31 Mar 181,70825100
31 Dec 171,68019400
30 Sep 171,65521200
30 Jun 171,65319700
31 Mar 171,63617500
31 Dec 161,53913700
30 Sep 161,4274100
30 Jun 161,3661700
31 Mar 161,313-2600
31 Dec 151,26114200
30 Sep 151,3641700
30 Jun 151,3645400
31 Mar 151,37511600
31 Dec 141,39413100

Quality Earnings: BKH has high quality earnings.

Growing Profit Margin: BKH's current net profit margins (12.5%) are higher than last year (12%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: BKH's earnings have grown by 4.3% per year over the past 5 years.

Accelerating Growth: BKH's earnings growth over the past year (11.8%) exceeds its 5-year average (4.3% per year).

Earnings vs Industry: BKH earnings growth over the past year (11.8%) exceeded the Integrated Utilities industry 5%.

Return on Equity

High ROE: BKH's Return on Equity (7.6%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/25 22:59
End of Day Share Price 2025/11/25 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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 14 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

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