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Black Hills BKH Debt Issuance Proceeds

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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:ProceedsFromIssuanceOfLongTermDebt.

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
Year endedDecember 31, 2025December 31, 2024December 31, 2023
Dividends paid on common stock(197.9)(182.3)(168.1)
Common stock issued219.2181.4118.3
Net borrowings (payments) of Revolving Credit Facility and CP Program(133.8)133.8(535.6)
Long-term debt - issuance450.0450.0800.0
Long-term debt - repayments(600.0)(525.0)
Distributions to non-controlling interests(9.8)(17.4)(18.3)
Other financing activities(5.9)(8.4)(13.0)
Net cash provided by (used in) financing activities321.8(42.9)(341.7)

ITEM 8.

FAQ

What is Black Hills's debt issuance proceeds?
Black Hills (BKH) reported debt issuance proceeds of $450M in Q4 2025.
What does debt issuance proceeds mean?
Cash received from issuing bonds, notes, term loans, and other debt instruments in the capital markets or from bank lending.

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