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Black Hills BKH Power Generation — Net Income Loss Attributable To Noncontrolling Interest

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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:NetIncomeLossAttributableToNoncontrollingInterest.

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

Net income available for common stock for the years ended December 31, 2025, 2024, and 2023 was reduced by $8.2 million, $10.6 million, and $13.8 million, respectively, attributable to this non-controlling interest. The net income allocable to the non-controlling interest holder is based on ownership interest with the exception of certain agreed upon adjustments. Distributions of net income attributable to this non-controlling interest are due within 30 days following the end of a quarter but may be withheld as necessary by Black Hills Electric Generation.

ITEM 8.

FAQ

What is Black Hills's power generation — net income loss attributable to noncontrolling interest?
Black Hills (BKH) reported power generation — net income loss attributable to noncontrolling interest of $2.05M in Q4 2025.
How has Black Hills's power generation — net income loss attributable to noncontrolling interest changed year-over-year?
Black Hills's power generation — net income loss attributable to noncontrolling interest decreased by 22.6% year-over-year, from $2.65M to $2.05M.
What is the long-term trend for Black Hills's power generation — net income loss attributable to noncontrolling interest?
Over 4 years (2021 to 2025), Black Hills's power generation — net income loss attributable to noncontrolling interest has grown at a -13.3% compound annual growth rate (CAGR), from $14.5M to $8.2M.
What does power generation — net income loss attributable to noncontrolling interest mean?
This represents the portion of net income or loss within the power generation segment that is attributable to minority shareholders. It reflects the earnings share belonging to non-parent entities in consolidated subsidiaries. Monitoring this helps investors understand the true economic interest of the parent company in its generation assets.

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