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Black Hills BKH Debt-to-equity

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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
Current ratio0.5×-0.1×

Where this comes from

Calculated from Black Hills’s reported figures.

Based on the most recent quarter.

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

Filed
Aug 6, 2026, 1:21 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-337444

FAQ

What is Black Hills's debt-to-equity?
Black Hills (BKH) reported debt-to-equity of 1× in Q2 2026.
How has Black Hills's debt-to-equity changed year-over-year?
Black Hills's debt-to-equity decreased by 7.6% year-over-year, from 1.1× to 1×.
What is the long-term trend for Black Hills's debt-to-equity?
Over 5 years (2020 to 2025), Black Hills's debt-to-equity has grown at a -3.5% compound annual growth rate (CAGR), from 1.5× to 1.2×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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