BLACK HILLS CORP (BKH) Fundamental Analysis & Valuation

NYSE:BKH • US0921131092

Current stock price

71.71 USD
-0.75 (-1.04%)
At close:
72 USD
+0.29 (+0.4%)
After Hours:

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.
  • Of the past 5 years BKH 4 years had a positive operating cash flow.
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

  • BKH's Return On Assets of 2.68% is fine compared to the rest of the industry. BKH outperforms 61.54% of its industry peers.
  • BKH has a Return On Equity of 7.63%. This is in the lower half of the industry: BKH underperforms 69.23% of its industry peers.
  • The Return On Invested Capital of BKH (4.67%) is better than 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 3.74%.
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

  • BKH has a better Profit Margin (12.63%) 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.
  • The Operating Margin of BKH (23.27%) is better 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

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. BKH Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BKH is destroying value.
  • BKH has more shares outstanding than it did 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 1.04, we must say that BKH is in the distress zone and has some risk of bankruptcy.
  • With an excellent Altman-Z score value of 1.04, BKH belongs to the best of the industry, outperforming 80.77% of the companies in the same industry.
  • A Debt/Equity ratio of 1.23 is on the high side and indicates that BKH has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.23, BKH is in the better half of the industry, outperforming 76.92% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.23
Debt/FCF N/A
Altman-Z 1.04
ROIC/WACC0.71
WACC6.58%
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

  • A Current Ratio of 1.35 indicates that BKH should not have too much problems paying its short term obligations.
  • With an excellent Current ratio value of 1.35, BKH belongs to the best of the industry, outperforming 92.31% of the companies in the same industry.
  • A Quick Ratio of 1.11 indicates that BKH should not have too much problems paying 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

More info and screens

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.
  • The Earnings Per Share has been growing slightly by 2.02% on average over the past years.
  • Looking at the last year, BKH shows a quite strong growth in Revenue. The Revenue has grown by 8.56% in the last year.
  • 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

  • The Earnings Per Share is expected to grow by 6.85% on average over the next years.
  • BKH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.67% yearly.
EPS Next Y9.9%
EPS Next 2Y7.77%
EPS Next 3Y7.26%
EPS Next 5Y6.85%
Revenue Next Year3.71%
Revenue Next 2Y3.77%
Revenue Next 3Y1.54%
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

More info and screens

Find the best growth stocksShow best growing peers

2

4. BKH Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 17.93, BKH is valued on the expensive side.
  • BKH's Price/Earnings ratio is a bit cheaper when compared to the industry. BKH is cheaper than 61.54% of the companies in the same industry.
  • BKH is valuated rather cheaply when we compare the Price/Earnings ratio to 25.96, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 16.31, the valuation of BKH can be described as correct.
  • BKH's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 24.04. BKH is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 17.93
Fwd PE 16.31
BKH Price Earnings VS Forward Price EarningsBKH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BKH is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 12.16
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 BKH does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)1.81
PEG (5Y)8.89
EPS Next 2Y7.77%
EPS Next 3Y7.26%

More info and screens

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

6

5. BKH Dividend Analysis

5.1 Amount

  • BKH has a Yearly Dividend Yield of 3.98%.
  • Compared to an average industry Dividend Yield of 4.06, BKH has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.91, BKH pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.98%

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 Years26
Div Non Decr Years26
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

  • BKH pays out 67.84% of its income as dividend. 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 2Y7.77%
EPS Next 3Y7.26%
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 (3/16/2026, 8:09:44 PM)

After market: 72 +0.29 (+0.4%)

71.71

-0.75 (-1.04%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)02-04
Earnings (Next)05-05
Inst Owners97.69%
Inst Owner Change10.08%
Ins Owners0.26%
Ins Owner Change1.71%
Market Cap5.41B
Revenue(TTM)2.31B
Net Income(TTM)291.70M
Analysts75
Price Target82.11 (14.5%)
Short Float %9.69%
Short Ratio7.22
Dividend
Industry RankSector Rank
Dividend Yield 3.98%
Yearly Dividend2.69
Dividend Growth(5Y)4.31%
DP67.84%
Div Incr Years26
Div Non Decr Years26
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)1.58%
PT rev (3m)7.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.12%
EPS NY rev (1m)0.8%
EPS NY rev (3m)0.17%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)10.9%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)0.54%
Valuation
Industry RankSector Rank
PE 17.93
Fwd PE 16.31
P/S 2.34
P/FCF N/A
P/OCF 8.04
P/B 1.42
P/tB 2.15
EV/EBITDA 12.16
EPS(TTM)4
EY5.58%
EPS(NY)4.4
Fwd EY6.13%
FCF(TTM)-1.94
FCFYN/A
OCF(TTM)8.92
OCFY12.44%
SpS30.61
BVpS50.66
TBVpS33.36
PEG (NY)1.81
PEG (5Y)8.89
Graham Number67.53
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 1.04
F-Score5
WACC6.58%
ROIC/WACC0.71
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 Y9.9%
EPS Next 2Y7.77%
EPS Next 3Y7.26%
EPS Next 5Y6.85%
Revenue 1Y (TTM)8.56%
Revenue growth 3Y-3.26%
Revenue growth 5Y6.36%
Sales Q2Q%6.43%
Revenue Next Year3.71%
Revenue Next 2Y3.77%
Revenue Next 3Y1.54%
Revenue Next 5Y5.67%
EBIT growth 1Y6.88%
EBIT growth 3Y5.7%
EBIT growth 5Y4.65%
EBIT Next Year69.49%
EBIT Next 3Y20%
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.


Can you provide the profitability details for BLACK HILLS CORP?

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


What are the PE and PB ratios of BLACK HILLS CORP (BKH) stock?

The Price/Earnings (PE) ratio for BLACK HILLS CORP (BKH) is 17.93 and the Price/Book (PB) ratio is 1.42.


Is the dividend of BLACK HILLS CORP sustainable?

The dividend rating of BLACK HILLS CORP (BKH) is 6 / 10 and the dividend payout ratio is 67.84%.