BKH
Black Hills Corporation
NYSE: BKH · UTILITIES · UTILITIES - REGULATED GAS
$74.31
-1.24% today
Updated 2026-04-29
Market cap
$5.65B
P/E ratio
18.67
P/S ratio
2.45x
EPS (TTM)
$3.98
Dividend yield
3.59%
52W range
$54 – $79
Volume
1.0M
Black Hills Corporation (BKH) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $542.59M | $574.84M | $1.01B | $1.27B | $1.22B | $1.27B | $1.17B | $1.28B | $1.39B | $1.26B | $1.54B | $1.68B | $1.75B | $1.73B | $1.70B | $1.95B | $2.55B | $2.33B | $2.13B | $2.31B |
| Revenue growth (YoY) | — | +5.9% | +75.0% | +26.2% | -3.9% | +4.3% | -7.7% | +8.7% | +9.2% | -9.5% | +22.0% | +9.2% | +4.4% | -1.1% | -2.2% | +14.9% | +30.9% | -8.6% | -8.7% | +8.6% |
| Cost of revenue | $191.65M | $161.01M | $449.74M | $652.73M | $566.97M | $915.94M | $735.26M | $837.83M | $940.88M | $780.70M | $925.74M | $1.02B | $1.11B | $1.07B | $987.81M | $1.24B | $1.78B | $1.53B | $1.29B | $1.42B |
| Gross profit | $350.93M | $413.83M | $556.05M | $616.85M | $652.72M | $356.25M | $438.62M | $438.02M | $452.69M | $480.63M | $613.18M | $662.37M | $646.95M | $668.08M | $709.13M | $705.50M | $772.80M | $796.40M | $840.40M | $888.70M |
| Gross margin | 64.7% | 72.0% | 55.3% | 48.6% | 53.5% | 28.0% | 37.4% | 34.3% | 32.5% | 38.1% | 39.8% | 39.4% | 36.9% | 38.5% | 41.8% | 36.2% | 30.3% | 34.2% | 39.5% | 38.5% |
| R&D | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $91.88M | $115.57M | $138.57M | $154.19M | $279.96M | $35.24M | $42.61M | $41.26M | $44.08M | $51.84M | $98.86M | $57.39M | $53.59M | $52.91M | $56.37M | $60.10M | $66.68M | $7.00M | $10.60M | $11.80M |
| Operating income | $102.14M | $125.72M | $55.88M | $126.83M | $183.42M | $186.24M | $276.44M | $259.44M | $263.87M | $300.42M | $336.18M | $416.74M | $397.04M | $406.04M | $428.30M | $409.40M | $455.20M | $472.70M | $503.10M | $537.50M |
| Operating margin | 18.8% | 21.9% | 5.6% | 10.0% | 15.0% | 14.6% | 23.5% | 20.3% | 18.9% | 23.8% | 21.8% | 24.8% | 22.6% | 23.4% | 25.2% | 21.0% | 17.8% | 20.3% | 23.6% | 23.3% |
| EBITDA | $196.22M | $225.41M | $75.59M | $316.71M | $311.65M | $284.44M | $429.16M | $430.55M | $413.22M | $431.39M | $517.54M | $608.11M | $593.83M | $591.31M | $645.07M | $648.50M | $709.50M | $738.40M | $785.30M | $827.40M |
| EBITDA margin | 36.2% | 39.2% | 7.5% | 24.9% | 25.6% | 22.4% | 36.6% | 33.7% | 29.7% | 34.2% | 33.6% | 36.2% | 33.9% | 34.1% | 38.0% | 33.3% | 27.8% | 31.7% | 36.9% | 35.8% |
| EBIT | $102.14M | $125.72M | $-31.68M | $195.42M | $185.05M | $148.85M | $283.24M | $293.22M | $268.48M | $304.86M | $342.00M | $419.86M | $397.50M | $382.19M | $420.61M | $412.50M | $458.60M | $481.60M | $515.20M | $543.60M |
| Interest expense | $0.00 | $0.00 | $54.12M | $84.69M | $101.30M | $91.38M | $113.61M | $111.79M | $70.96M | $84.65M | $136.11M | $138.12M | $141.62M | $139.29M | $144.93M | $154.10M | $162.60M | $180.00M | $195.20M | $206.90M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $81.02M | $98.77M | $105.08M | $81.56M | $68.69M | $49.73M | $102.44M | $117.42M | $130.89M | $-32.11M | $72.97M | $177.03M | $258.44M | $199.31M | $227.61M | $236.70M | $258.40M | $262.20M | $273.10M | $291.60M |
| Net income growth (YoY) | — | +21.9% | +6.4% | -22.4% | -15.8% | -27.6% | +106.0% | +14.6% | +11.5% | -124.5% | +327.2% | +142.6% | +46.0% | -22.9% | +14.2% | +4.0% | +9.2% | +1.5% | +4.2% | +6.8% |
| Profit margin | 14.9% | 17.2% | 10.4% | 6.4% | 5.6% | 3.9% | 8.7% | 9.2% | 9.4% | -2.5% | 4.7% | 10.5% | 14.7% | 11.5% | 13.4% | 12.1% | 10.1% | 11.2% | 12.8% | 12.6% |