Black Hills Corporation (BKH)vsSpire Inc (SR)
BKH
Black Hills Corporation
$74.31
-1.24%
UTILITIES · Cap: $5.65B
SR
Spire Inc
$89.73
-1.25%
UTILITIES · Cap: $5.30B
Smart Verdict
WallStSmart Research — data-driven comparison
Spire Inc generates 11% more annual revenue ($2.57B vs $2.31B). BKH leads profitability with a 12.6% profit margin vs 11.1%. SR appears more attractively valued with a PEG of 2.46. SR earns a higher WallStSmart Score of 63/100 (C+).
BKH
Buy57
out of 100
Grade: C
SR
Buy63
out of 100
Grade: C+
Intrinsic Value Comparison
Multi-model valuation · Graham Formula
Margin of Safety
+16.7%
Fair Value
$87.12
Current Price
$74.31
$12.81 discount
Margin of Safety
+25.3%
Fair Value
$117.83
Current Price
$89.73
$28.10 discount
Key Strengths & Concerns
Side-by-side fundamental analysis
Key Strengths
Reasonable price relative to book value
Strong operational efficiency at 26.2%
Reasonable price relative to book value
Strong operational efficiency at 23.4%
Areas to Watch
0.9% earnings growth
Expensive relative to growth rate
Negative free cash flow — burning cash
Distress zone — elevated risk
Expensive relative to growth rate
Elevated debt levels
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 : SR
The strongest argument for SR centers on Price/Book, Operating Margin. Revenue growth of 13.9% demonstrates continued momentum.
Bear Case : BKH
The primary concerns for BKH are EPS Growth, PEG Ratio, Free Cash Flow.
Bear Case : SR
The primary concerns for SR are PEG Ratio, Debt/Equity, Free Cash Flow. Debt-to-equity of 1.56 is elevated, increasing financial risk.
Key Dynamics to Monitor
BKH carries more volatility with a beta of 0.71 — expect wider price swings.
SR is growing revenue faster at 13.9% — sustainability is the question.
BKH generates stronger free cash flow (-102M), providing more financial flexibility.
Monitor UTILITIES - REGULATED GAS industry trends, competitive dynamics, and regulatory changes.
Bottom Line
SR scores higher overall (63/100 vs 57/100) and 13.9% revenue growth. BKH offers better value entry with a 16.7% 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.
Spire Inc
UTILITIES · UTILITIES - REGULATED GAS · USA
Spire Inc. engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company is headquartered in St. Louis, Missouri.
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