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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:Goodwill.

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

Filed
Aug 6, 2026, 1:21 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001193125-26-337444
(unaudited)As of / June 30, 2026As of / December 31, 2025
Less: accumulated depreciation(2,211.1)(2,110.7)
Total property, plant and equipment, net8,639.68,234.2
Other assets:
Goodwill1,299.51,299.5
Intangible assets, net5.66.4
Regulatory assets, non-current257.0255.0
Other assets, non-current91.378.8
Total other assets, non-current1,653.41,639.7

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Black Hills's goodwill?
Black Hills (BKH) reported goodwill of $1.3B in Q2 2026.
How has Black Hills's goodwill changed year-over-year?
Black Hills's goodwill decreased by 0.0% year-over-year, from $1.3B to $1.3B.
What is the long-term trend for Black Hills's goodwill?
Over 5 years (2020 to 2025), Black Hills's goodwill has grown at a 0.0% compound annual growth rate (CAGR), from $1.3B to $1.3B.
What does goodwill mean?
The excess of acquisition cost over the fair value of net identifiable assets acquired — representing brand value, customer relationships, and synergies from past M&A.

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