Black Hills Corporation (BKH)vsNiSource Inc (NI)
BKH
Black Hills Corporation
$73.44
-2.38%
UTILITIES · Cap: $5.59B
NI
NiSource Inc
$47.03
+0.66%
UTILITIES · Cap: $22.55B
Smart Verdict
WallStSmart Research — data-driven comparison
NiSource Inc generates 198% more annual revenue ($6.82B vs $2.29B). NI leads profitability with a 14.1% profit margin vs 12.6%. NI appears more attractively valued with a PEG of 2.66. NI earns a higher WallStSmart Score of 60/100 (C+).
BKH
Buy51
out of 100
Grade: C-
NI
Buy60
out of 100
Grade: C+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+15.5%
Fair Value
$85.94
Current Price
$73.44
$12.50 discount
Margin of Safety
-79.4%
Fair Value
$24.89
Current Price
$47.03
$22.14 premium
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 25.9%
Strong operational efficiency at 34.8%
Reasonable price relative to book value
Areas to Watch
ROE of 7.7% — below average capital efficiency
Expensive relative to growth rate
Revenue declined 3.0%
Earnings declined 7.5%
Expensive relative to growth rate
Negative free cash flow — burning cash
Distress zone — elevated risk
Comparative Analysis Report
WallStSmart ResearchBull Case : BKH
The strongest argument for BKH centers on Price/Book, Operating Margin.
Bull Case : NI
The strongest argument for NI centers on Operating Margin, Price/Book.
Bear Case : BKH
The primary concerns for BKH are Return on Equity, PEG Ratio, Revenue Growth.
Bear Case : NI
The primary concerns for NI are PEG Ratio, Free Cash Flow, Altman Z-Score.
Key Dynamics to Monitor
BKH profiles as a declining stock while NI is a value play — different risk/reward profiles.
BKH carries more volatility with a beta of 0.72 — expect wider price swings.
NI is growing revenue faster at 8.2% — sustainability is the question.
BKH generates stronger free cash flow (-91M), providing more financial flexibility.
Bottom Line
NI scores higher overall (60/100 vs 51/100). BKH offers better value entry with a 15.5% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.
This analysis is generated from publicly available financial data. Not financial advice.
Black Hills Corporation
UTILITIES · UTILITIES - REGULATED GAS · USA
Black Hills Corporation is a natural gas and electric utility company in the United States. The company is headquartered in Rapid City, South Dakota.
NiSource Inc
UTILITIES · UTILITIES - REGULATED GAS · USA
NiSource Inc. is one of the largest fully regulated utility companies in the United States. The company is based in Merrillville, Indiana.
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