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Black Hills BKH Debt-to-equity

Debt-to-equity at other companies

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Other financials

Income statement

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Revenue$780.7M-3.0%
Operating income$201.9M-1.5%
Net income$131.0M-2.5%
EPS (diluted)$1.73-7.5%

Balance sheet

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Cash & equivalents$23.6M+258%
Total debt$4.2B+5.8%
Total equity$3.9B+8.5%
Total assets$10.8B+7.5%

Cash flow

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Operating cash flow$176.2M-22.7%
CapEx$267.4M+74.9%
Free cash flow-$91.2M-222%

Valuation

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Market cap$5.54B+20.7%

Profitability

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Operating margin23.4%+0.1pp
Net margin12.6%-0.1pp
FCF margin-13.7%-14.0pp

Returns & leverage

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Return on equity7.6%-0.4pp
Current ratio0.6×-0.1×

Where this comes from

Calculated from Black Hills’s reported figures.

Based on the most recent quarter.

The official record: Black Hills’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Black Hills's debt-to-equity?
Black Hills (BKH) reported debt-to-equity of 1.1× in Q1 2026.
How has Black Hills's debt-to-equity changed year-over-year?
Black Hills's debt-to-equity decreased by 2.5% year-over-year, from 1.1× to 1.1×.
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.