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Black Hills BKH Gas Utilities — Public Utilities Property Plant And Equipment Transmission

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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:PublicUtilitiesPropertyPlantAndEquipmentTransmission.

The source filing: Black Hills’s 10-K, filed February 11, 2026.

Filed
Feb 10, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0001193125-26-046028
Gas Utilities2025 / Property, Plant and Equipment2025 / Weighted Average Useful Life2024 / Property, Plant and Equipment2024 / Weighted Average Useful LifeLives / MinimumLives / Maximum
Gas plant:
Production$26.344$21.6432445
Gas transmission860.057817.5583273
Gas distribution3,414.3573,107.3574861
Cushion gas - not depreciable (a)51.4N/A52.1N/AN/AN/A
Storage83.64278.8423647
General587.222599.4222025
Total gas plant in service5,022.84,676.7

ITEM 8.

FAQ

What is Black Hills's gas utilities — public utilities property plant and equipment transmission?
Black Hills (BKH) reported gas utilities — public utilities property plant and equipment transmission of $860M in Q4 2025.
How has Black Hills's gas utilities — public utilities property plant and equipment transmission changed year-over-year?
Black Hills's gas utilities — public utilities property plant and equipment transmission increased by 5.2% year-over-year, from $817.5M to $860M.
What does gas utilities — public utilities property plant and equipment transmission mean?
This metric represents the investment in high-pressure pipelines and related facilities used to transport gas from supply sources to local distribution systems. It highlights the scale and reach of the segment's backbone infrastructure necessary for regional energy delivery.

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