BLACK HILLS CORP (BKH) Fundamental Analysis & Valuation

NYSE:BKH • US0921131092

Current stock price

76.72 USD
-0.11 (-0.14%)
Last:

This BKH fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

5

1. BKH Profitability Analysis

1.1 Basic Checks

  • BKH had positive earnings in the past year.
  • In the past year BKH had a positive cash flow from operations.
  • BKH had positive earnings in each of the past 5 years.
  • BKH had a positive operating cash flow in 4 of the past 5 years.
BKH Yearly Net Income VS EBIT VS OCF VS FCFBKH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M -500M

1.2 Ratios

  • With a decent Return On Assets value of 2.68%, BKH is doing good in the industry, outperforming 61.54% of the companies in the same industry.
  • BKH has a worse Return On Equity (7.63%) than 69.23% of its industry peers.
  • BKH's Return On Invested Capital of 4.67% is amongst the best of the industry. BKH outperforms 100.00% of its industry peers.
  • BKH had an Average Return On Invested Capital over the past 3 years of 4.77%. This is in line with the industry average of 3.75%.
Industry RankSector Rank
ROA 2.68%
ROE 7.63%
ROIC 4.67%
ROA(3y)2.71%
ROA(5y)2.68%
ROE(3y)7.86%
ROE(5y)8.14%
ROIC(3y)4.77%
ROIC(5y)4.64%
BKH Yearly ROA, ROE, ROICBKH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • The Profit Margin of BKH (12.63%) is better than 69.23% of its industry peers.
  • In the last couple of years the Profit Margin of BKH has remained more or less at the same level.
  • BKH has a better Operating Margin (23.27%) than 76.92% of its industry peers.
  • In the last couple of years the Operating Margin of BKH has declined.
Industry RankSector Rank
OM 23.27%
PM (TTM) 12.63%
GM N/A
OM growth 3Y9.26%
OM growth 5Y-1.61%
PM growth 3Y7.62%
PM growth 5Y-1.21%
GM growth 3YN/A
GM growth 5YN/A
BKH Yearly Profit, Operating, Gross MarginsBKH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20 25

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. BKH Health Analysis

2.1 Basic Checks

  • BKH has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for BKH has been increased compared to 1 year ago.
  • The number of shares outstanding for BKH has been increased compared to 5 years ago.
  • The debt/assets ratio for BKH has been reduced compared to a year ago.
BKH Yearly Shares OutstandingBKH Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M
BKH Yearly Total Debt VS Total AssetsBKH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • Based on the Altman-Z score of 1.07, we must say that BKH is in the distress zone and has some risk of bankruptcy.
  • BKH has a Altman-Z score of 1.07. This is amongst the best in the industry. BKH outperforms 80.77% of its industry peers.
  • BKH has a Debt/Equity ratio of 1.23. This is a high value indicating a heavy dependency on external financing.
  • BKH has a Debt to Equity ratio of 1.23. This is in the better half of the industry: BKH outperforms 76.92% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF N/A
Altman-Z 1.07
ROIC/WACC0.7
WACC6.69%
BKH Yearly LT Debt VS Equity VS FCFBKH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B 2B 3B 4B

2.3 Liquidity

  • BKH has a Current Ratio of 1.35. This is a normal value and indicates that BKH is financially healthy and should not expect problems in meeting its short term obligations.
  • BKH has a better Current ratio (1.35) than 92.31% of its industry peers.
  • BKH has a Quick Ratio of 1.11. This is a normal value and indicates that BKH is financially healthy and should not expect problems in meeting its short term obligations.
  • BKH's Quick ratio of 1.11 is amongst the best of the industry. BKH outperforms 92.31% of its industry peers.
Industry RankSector Rank
Current Ratio 1.35
Quick Ratio 1.11
BKH Yearly Current Assets VS Current LiabilitesBKH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. BKH Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 2.04% over the past year.
  • Measured over the past 5 years, BKH shows a small growth in Earnings Per Share. The EPS has been growing by 2.02% on average per year.
  • BKH shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 8.56%.
  • BKH shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.36% yearly.
EPS 1Y (TTM)2.04%
EPS 3Y0.08%
EPS 5Y2.02%
EPS Q2Q%2.92%
Revenue 1Y (TTM)8.56%
Revenue growth 3Y-3.26%
Revenue growth 5Y6.36%
Sales Q2Q%6.43%

3.2 Future

  • BKH is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.85% yearly.
  • Based on estimates for the next years, BKH will show a small growth in Revenue. The Revenue will grow by 5.67% on average per year.
EPS Next Y9.46%
EPS Next 2Y7.51%
EPS Next 3Y7.45%
EPS Next 5Y6.85%
Revenue Next Year3.37%
Revenue Next 2Y12.57%
Revenue Next 3Y10.13%
Revenue Next 5Y5.67%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
BKH Yearly Revenue VS EstimatesBKH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B
BKH Yearly EPS VS EstimatesBKH Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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Find the best growth stocksShow best growing peers

2

4. BKH Valuation Analysis

4.1 Price/Earnings Ratio

  • BKH is valuated rather expensively with a Price/Earnings ratio of 19.18.
  • Compared to the rest of the industry, the Price/Earnings ratio of BKH is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 27.53, BKH is valued a bit cheaper.
  • A Price/Forward Earnings ratio of 17.52 indicates a rather expensive valuation of BKH.
  • The rest of the industry has a similar Price/Forward Earnings ratio as BKH.
  • The average S&P500 Price/Forward Earnings ratio is at 37.95. BKH is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 19.18
Fwd PE 17.52
BKH Price Earnings VS Forward Price EarningsBKH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as BKH.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.61
BKH Per share dataBKH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40 50

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.03
PEG (5Y)9.51
EPS Next 2Y7.51%
EPS Next 3Y7.45%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. BKH Dividend Analysis

5.1 Amount

  • BKH has a Yearly Dividend Yield of 3.80%.
  • BKH's Dividend Yield is rather good when compared to the industry average which is at 3.29. BKH pays more dividend than 80.77% of the companies in the same industry.
  • BKH's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 3.8%

5.2 History

  • The dividend of BKH has a limited annual growth rate of 4.31%.
  • BKH has been paying a dividend for at least 10 years, so it has a reliable track record.
  • BKH has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)4.31%
Div Incr Years27
Div Non Decr Years27
BKH Yearly Dividends per shareBKH Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • 67.84% of the earnings are spent on dividend by BKH. This is not a sustainable payout ratio.
  • BKH's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP67.84%
EPS Next 2Y7.51%
EPS Next 3Y7.45%
BKH Yearly Income VS Free CF VS DividendBKH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M -400M -600M
BKH Dividend Payout.BKH Dividend Payout, showing the Payout Ratio.BKH Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

BKH Fundamentals: All Metrics, Ratios and Statistics

BLACK HILLS CORP

NYSE:BKH (4/17/2026, 11:56:55 AM)

76.72

-0.11 (-0.14%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)02-04
Earnings (Next)05-06
Inst Owners96.61%
Inst Owner Change0%
Ins Owners0.23%
Ins Owner Change1.71%
Market Cap5.83B
Revenue(TTM)2.31B
Net Income(TTM)291.70M
Analysts80
Price Target82.01 (6.9%)
Short Float %11.14%
Short Ratio8.26
Dividend
Industry RankSector Rank
Dividend Yield 3.8%
Yearly Dividend2.69
Dividend Growth(5Y)4.31%
DP67.84%
Div Incr Years27
Div Non Decr Years27
Ex-Date02-17
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-7.88%
Min EPS beat(2)-14.78%
Max EPS beat(2)-0.99%
EPS beat(4)1
Avg EPS beat(4)-3.99%
Min EPS beat(4)-14.78%
Max EPS beat(4)4.51%
EPS beat(8)4
Avg EPS beat(8)-2.54%
EPS beat(12)7
Avg EPS beat(12)0.59%
EPS beat(16)9
Avg EPS beat(16)1.98%
Revenue beat(2)0
Avg Revenue beat(2)-3.66%
Min Revenue beat(2)-4.39%
Max Revenue beat(2)-2.93%
Revenue beat(4)1
Avg Revenue beat(4)0.95%
Min Revenue beat(4)-4.39%
Max Revenue beat(4)12.91%
Revenue beat(8)2
Avg Revenue beat(8)-6.82%
Revenue beat(12)3
Avg Revenue beat(12)-9.57%
Revenue beat(16)7
Avg Revenue beat(16)1.43%
PT rev (1m)-0.12%
PT rev (3m)5.1%
EPS NQ rev (1m)-0.17%
EPS NQ rev (3m)-0.29%
EPS NY rev (1m)-0.4%
EPS NY rev (3m)0.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)10.9%
Revenue NY rev (1m)-0.33%
Revenue NY rev (3m)0.21%
Valuation
Industry RankSector Rank
PE 19.18
Fwd PE 17.52
P/S 2.53
P/FCF N/A
P/OCF 8.66
P/B 1.53
P/tB 2.32
EV/EBITDA 12.61
EPS(TTM)4
EY5.21%
EPS(NY)4.38
Fwd EY5.71%
FCF(TTM)-1.93
FCFYN/A
OCF(TTM)8.85
OCFY11.54%
SpS30.37
BVpS50.28
TBVpS33.11
PEG (NY)2.03
PEG (5Y)9.51
Graham Number67.2679 (-12.32%)
Profitability
Industry RankSector Rank
ROA 2.68%
ROE 7.63%
ROCE 5.31%
ROIC 4.67%
ROICexc 4.75%
ROICexgc 5.47%
OM 23.27%
PM (TTM) 12.63%
GM N/A
FCFM N/A
ROA(3y)2.71%
ROA(5y)2.68%
ROE(3y)7.86%
ROE(5y)8.14%
ROIC(3y)4.77%
ROIC(5y)4.64%
ROICexc(3y)4.82%
ROICexc(5y)4.67%
ROICexgc(3y)5.62%
ROICexgc(5y)5.47%
ROCE(3y)5.45%
ROCE(5y)5.41%
ROICexgc growth 3Y-0.74%
ROICexgc growth 5Y-1.74%
ROICexc growth 3Y0.16%
ROICexc growth 5Y-0.78%
OM growth 3Y9.26%
OM growth 5Y-1.61%
PM growth 3Y7.62%
PM growth 5Y-1.21%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.21
Health
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF N/A
Debt/EBITDA 5.72
Cap/Depr 288.87%
Cap/Sales 35.49%
Interest Coverage 2.74
Cash Conversion 81.98%
Profit Quality N/A
Current Ratio 1.35
Quick Ratio 1.11
Altman-Z 1.07
F-Score5
WACC6.69%
ROIC/WACC0.7
Cap/Depr(3y)260.25%
Cap/Depr(5y)261.74%
Cap/Sales(3y)31.43%
Cap/Sales(5y)30.55%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)2.04%
EPS 3Y0.08%
EPS 5Y2.02%
EPS Q2Q%2.92%
EPS Next Y9.46%
EPS Next 2Y7.51%
EPS Next 3Y7.45%
EPS Next 5Y6.85%
Revenue 1Y (TTM)8.56%
Revenue growth 3Y-3.26%
Revenue growth 5Y6.36%
Sales Q2Q%6.43%
Revenue Next Year3.37%
Revenue Next 2Y12.57%
Revenue Next 3Y10.13%
Revenue Next 5Y5.67%
EBIT growth 1Y6.88%
EBIT growth 3Y5.7%
EBIT growth 5Y4.65%
EBIT Next Year65.22%
EBIT Next 3Y19.79%
EBIT Next 5Y16.44%
FCF growth 1Y-487.95%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-6.38%
OCF growth 3Y4.81%
OCF growth 5Y4.44%

BLACK HILLS CORP / BKH Fundamental Analysis FAQ

What is the fundamental rating for BKH stock?

ChartMill assigns a fundamental rating of 4 / 10 to BKH.


What is the valuation status of BLACK HILLS CORP (BKH) stock?

ChartMill assigns a valuation rating of 2 / 10 to BLACK HILLS CORP (BKH). This can be considered as Overvalued.


How profitable is BLACK HILLS CORP (BKH) stock?

BLACK HILLS CORP (BKH) has a profitability rating of 5 / 10.


How financially healthy is BLACK HILLS CORP?

The financial health rating of BLACK HILLS CORP (BKH) is 4 / 10.


Can you provide the dividend sustainability for BKH stock?

The dividend rating of BLACK HILLS CORP (BKH) is 7 / 10 and the dividend payout ratio is 67.84%.