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Black Hills BKH Gas Utilities — D&A

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$40.9M+9.1%

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Other financials

Income statement

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Revenue$452.8M+3.1%
Operating income$97.0M+17.6%
Net income$38.2M+38.9%
EPS (diluted)$0.50+31.6%

Balance sheet

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Cash & equivalents$71.5M+783%
Total debt$4.1B+0.2%
Total equity$3.9B+8.5%
Total assets$11.0B+9.4%

Cash flow

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Operating cash flow$195.1M+3.4%
CapEx$218.1M-0.4%
Free cash flow-$23.0M+24.1%

Valuation

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Market cap$5.54B+27.2%
Enterprise value$9.55B+13.4%
P/E18.5×+3.2×
P/S2.4×+0.5×

Profitability

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Operating margin23.9%+0.4pp
Net margin13%+0.3pp
FCF margin-13.3%-27.7pp

Returns & leverage

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Return on equity7.9%-0.2pp
Debt / equity-0.1×
Current ratio0.5×-0.1×

Where this comes from

Reported directly by Black Hills in its filing.

Tagged under the XBRL concept us-gaap:DepreciationAndAmortization.

The source filing: Black Hills’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 1:21 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-337444
Three Months Ended June 30, 2026Consolidating Income Statement / Electric UtilitiesConsolidating Income Statement / Gas UtilitiesConsolidating Income Statement / Total Reportable SegmentsConsolidating Income Statement / Corporate and OtherConsolidating Income Statement / Total
Operations and maintenance (a) -
Direct33.441.374.73.378.0
Allocated32.140.472.572.5
Depreciation and amortization40.934.475.375.3
Taxes other than income taxes9.17.416.516.5
Total operating expenses165.2187.4352.63.2355.8
Operating income (loss)$61.1$43.1$104.2$(7.2)$97.0
Interest expense, net(51.6)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Black Hills's gas utilities — D&A?
Black Hills (BKH) reported gas utilities — D&A of $34.4M in Q2 2026.
How has Black Hills's gas utilities — D&A changed year-over-year?
Black Hills's gas utilities — D&A increased by 6.5% year-over-year, from $32.3M to $34.4M.
What is the long-term trend for Black Hills's gas utilities — D&A?
Over 4 years (2021 to 2025), Black Hills's gas utilities — D&A has grown at a 6.0% compound annual growth rate (CAGR), from $104.2M to $131.4M.
What does gas utilities — D&A mean?
This metric represents the systematic allocation of the cost of tangible and intangible assets over their useful lives within the gas utility segment. It is a non-cash expense that reflects the ongoing capital intensity and infrastructure investment required to maintain utility operations.

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