WallStSmart

Black Hills Corporation (BKH)vsNewJersey Resources Corporation (NJR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Black Hills Corporation generates 3% more annual revenue ($2.30B vs $2.23B). NJR leads profitability with a 16.4% profit margin vs 13.0%. NJR appears more attractively valued with a PEG of 2.15. BKH earns a higher WallStSmart Score of 63/100 (C+).

BKH

Buy

63

out of 100

Grade: C+

Growth: 5.3Profit: 6.0Value: 4.7Quality: 3.0
Piotroski: 3/9Altman Z: 0.92

NJR

Buy

57

out of 100

Grade: C

Growth: 5.3Profit: 6.5Value: 4.7Quality: 4.0
Piotroski: 4/9Altman Z: 1.02
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BKHUndervalued (+1.4%)

Margin of Safety

+1.4%

Fair Value

$73.67

Current Price

$73.39

$0.28 discount

UndervaluedFair: $73.67Overvalued
NJRSignificantly Overvalued (-63.8%)

Margin of Safety

-63.8%

Fair Value

$32.26

Current Price

$54.97

$22.71 premium

UndervaluedFair: $32.26Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BKH3 strengths · Avg: 8.7/10
Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Operating MarginProfitability
21.4%8/10

Strong operational efficiency at 21.4%

EPS GrowthGrowth
31.6%8/10

Earnings expanding 31.6% YoY

NJR3 strengths · Avg: 8.0/10
P/E RatioValuation
15.4x8/10

Attractively priced relative to earnings

Price/BookValuation
2.1x8/10

Reasonable price relative to book value

Revenue GrowthGrowth
16.8%8/10

16.8% revenue growth

Areas to Watch

BKH4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
3.1%4/10

3.1% revenue growth

Return on EquityProfitability
7.3%3/10

ROE of 7.3% — below average capital efficiency

Debt/EquityHealth
1.143/10

Elevated debt levels

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

NJR3 concerns · Avg: 3.0/10
PEG RatioValuation
2.154/10

Expensive relative to growth rate

Debt/EquityHealth
1.473/10

Elevated debt levels

Altman Z-ScoreHealth
1.022/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : BKH

The strongest argument for BKH centers on Price/Book, Operating Margin, EPS Growth.

Bull Case : NJR

The strongest argument for NJR centers on P/E Ratio, Price/Book, Revenue Growth. Profitability is solid with margins at 16.4% and operating margin at 9.1%. Revenue growth of 16.8% demonstrates continued momentum.

Bear Case : BKH

The primary concerns for BKH are Revenue Growth, Return on Equity, Debt/Equity.

Bear Case : NJR

The primary concerns for NJR are PEG Ratio, Debt/Equity, Altman Z-Score.

Key Dynamics to Monitor

BKH profiles as a value stock while NJR is a growth play — different risk/reward profiles.

BKH carries more volatility with a beta of 0.69 — expect wider price swings.

NJR is growing revenue faster at 16.8% — sustainability is the question.

NJR generates stronger free cash flow (25M), providing more financial flexibility.

Bottom Line

BKH scores higher overall (63/100 vs 57/100). 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.

NewJersey Resources Corporation

UTILITIES · UTILITIES - REGULATED GAS · USA

New Jersey Resources Corporation, an energy services portfolio company, provides regulated gas distribution and retail and wholesale energy services. The company is headquartered in Wall, New Jersey.

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