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Black Hills BKH Gas Utilities — Construction In Progress Gross

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Other financials

Income statement

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Revenue$780.7M-3.0%
Operating income$201.9M-1.5%
Net income$131.0M-2.5%
EPS (diluted)$1.73-7.5%

Balance sheet

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Cash & equivalents$23.6M+258%
Total debt$4.2B+5.8%
Total equity$3.9B+8.5%
Total assets$10.8B+7.5%

Cash flow

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Operating cash flow$176.2M-22.7%
CapEx$267.4M+74.9%
Free cash flow-$91.2M-222%

Valuation

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Market cap$5.54B+20.7%

Profitability

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Operating margin23.4%+0.1pp
Net margin12.6%-0.1pp
FCF margin-13.7%-14.0pp

Returns & leverage

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Return on equity7.6%-0.4pp
Debt / equity1.1×0.0×
Current ratio0.6×-0.1×

Where this comes from

Reported directly by Black Hills in its filing.

Tagged under the XBRL concept us-gaap:ConstructionInProgressGross.

The official record: Black Hills’s 10-K, filed February 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Black Hills's gas utilities — construction in progress gross?
Black Hills (BKH) reported gas utilities — construction in progress gross of $50.5M in Q4 2025.
How has Black Hills's gas utilities — construction in progress gross changed year-over-year?
Black Hills's gas utilities — construction in progress gross increased by 16.1% year-over-year, from $43.5M to $50.5M.
What does gas utilities — construction in progress gross mean?
This metric tracks the accumulated costs of capital projects that are currently under development but not yet ready for operational use. It serves as a leading indicator of future asset base growth and the company's commitment to expanding or modernizing its utility infrastructure.