Where do Black Hills's ratios come from?

Every ratio is computed from Black Hills's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Black Hills BKH Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Operating margin	23.4%+0.1pp	23.3%-0.4pp	23.3%+0.9pp	23.5%+0.1pp	23.3%+0.3pp
Net margin	12.6%-0.1pp	12.6%-0.2pp	12.5%+0.5pp	12.7%-0.3pp	12.7%-0.3pp
Returns
Return on equity	7.6%-0.4pp	8%-0.2pp	7.9%+0.2pp	8.1%-0.4pp	8%-0.6pp
Return on invested capital	5.9%-0.3pp	5.8%-0.2pp	5.9%-0.1pp	6.3%0.0pp	6.2%-0.2pp
Efficiency
Asset turnover	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×	0.2×0.0×
Liquidity
Current ratio	0.6×-0.1×	1.3×+0.4×	0.9×-0.2×	0.6×-0.4×	0.8×0.0×
Leverage
Debt-to-equity	1.1×0.0×	1.2×0.0×	1.2×-0.1×	1.1×-0.1×	1.1×0.0×
Net debt / EBITDA	5.1×0.0×	5.5×-0.1×	5.4×-0.3×	5.1×+0.3×	5.1×+0.2×
Per Share
Book value per share	$52.19+3.1%	$52.24+4.3%	$51.69+5.9%	$50.22+3.2%	$50.63+3.7%
Valuation
Market capitalization	$5.28B+20.7%	$5.24B+25.1%	$4.49B+5.3%	$4.12B+9.9%	$4.37B+17.3%
Price / earnings	18.3×+2.7×	18×+2.6×	15.8×-1.0×	14.5×+0.9×	15.6×+2.1×
Price / sales	2.3×+0.3×	2.3×+0.3×	2×0.0×	1.8×+0.1×	2×+0.2×
Price / book	1.3×+0.1×	1.4×+0.2×	1.2×0.0×	1.1×0.0×	1.2×+0.1×
EV / EBITDA	11.5×+0.9×	11.9×+0.8×	10.9×-0.5×	10.2×+0.5×	10.6×+0.8×
Dividend yield	3.8%-0.4pp	3.8%-0.6pp	4.3%+0.1pp	4.6%0.0pp	4.3%-0.3pp

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Where do Black Hills's ratios come from?: Every ratio is computed from Black Hills's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.