WallStSmart

Black Hills Corporation (BKH)vsSuburban Propane Partners LP (SPH)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Black Hills Corporation generates 62% more annual revenue ($2.31B vs $1.43B). BKH leads profitability with a 12.6% profit margin vs 9.3%. SPH appears more attractively valued with a PEG of 1.21. SPH earns a higher WallStSmart Score of 65/100 (B-).

BKH

Buy

57

out of 100

Grade: C

Growth: 4.0Profit: 7.0Value: 5.3Quality: 3.8
Piotroski: 4/9Altman Z: 0.92

SPH

Strong Buy

65

out of 100

Grade: B-

Growth: 4.7Profit: 7.0Value: 8.7Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BKHUndervalued (+16.7%)

Margin of Safety

+16.7%

Fair Value

$87.12

Current Price

$75.48

$11.64 discount

UndervaluedFair: $87.12Overvalued
SPHUndervalued (+50.9%)

Margin of Safety

+50.9%

Fair Value

$40.84

Current Price

$20.10

$20.74 discount

UndervaluedFair: $40.84Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BKH2 strengths · Avg: 9.0/10
Price/BookValuation
1.5x10/10

Reasonable price relative to book value

Operating MarginProfitability
26.2%8/10

Strong operational efficiency at 26.2%

SPH4 strengths · Avg: 9.3/10
P/E RatioValuation
9.8x10/10

Attractively priced relative to earnings

EPS GrowthGrowth
130.0%10/10

Earnings expanding 130.0% YoY

Return on EquityProfitability
22.7%9/10

Every $100 of equity generates 23 in profit

Price/BookValuation
2.1x8/10

Reasonable price relative to book value

Areas to Watch

BKH4 concerns · Avg: 2.5/10
EPS GrowthGrowth
0.9%4/10

0.9% earnings growth

PEG RatioValuation
2.732/10

Expensive relative to growth rate

Free Cash FlowQuality
$-101.50M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.922/10

Distress zone — elevated risk

SPH3 concerns · Avg: 2.3/10
Market CapQuality
$1.30B3/10

Smaller company, higher risk/reward

Revenue GrowthGrowth
-0.8%2/10

Revenue declined 0.8%

Free Cash FlowQuality
$-67.47M2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : BKH

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

Bull Case : SPH

The strongest argument for SPH centers on P/E Ratio, EPS Growth, Return on Equity. PEG of 1.21 suggests the stock is reasonably priced for its growth.

Bear Case : BKH

The primary concerns for BKH are EPS Growth, PEG Ratio, Free Cash Flow.

Bear Case : SPH

The primary concerns for SPH are Market Cap, Revenue Growth, Free Cash Flow.

Key Dynamics to Monitor

BKH carries more volatility with a beta of 0.71 — expect wider price swings.

BKH is growing revenue faster at 6.4% — sustainability is the question.

SPH generates stronger free cash flow (-67M), providing more financial flexibility.

Monitor UTILITIES - REGULATED GAS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SPH scores higher overall (65/100 vs 57/100). BKH offers better value entry with a 16.7% margin of safety. Both earn "Strong 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.

Suburban Propane Partners LP

UTILITIES · UTILITIES - REGULATED GAS · USA

Suburban Propane Partners, LP, is engaged in the marketing and retail distribution of propane, fuel oil, and refined fuels. The company is headquartered in Whippany, New Jersey.

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