Black Hills BKH Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 23.4%+0.1pp | 23.3%0.0pp | 23.3%-0.2pp | 23.5%+0.2pp | 23.3%-0.3pp | |
| Net margin | 12.6%0.0pp | 12.6%+0.1pp | 12.5%-0.1pp | 12.7%0.0pp | 12.7%-0.2pp | |
| EBITDA margin | 36.1%+0.5pp | 35.6%0.0pp | 35.6%-0.2pp | 35.8%+0.1pp | 35.7%-0.6pp | |
| Free cash flow margin | -13.7%-7.3pp | -6.3%-1.7pp | -4.6%-0.1pp | -4.5%-4.2pp | -0.3%+0.8pp | |
| Returns | ||||||
| Return on equity | 7.6%-0.4pp | 8%+0.1pp | 7.9%-0.2pp | 8.1%+0.1pp | 8%-0.1pp | |
| Return on assets | 2.8%0.0pp | 2.8%0.0pp | 2.8%0.0pp | 2.8%0.0pp | 2.8%+0.1pp | |
| Return on invested capital | 5.9%+0.1pp | 5.8%-0.1pp | 5.9%-0.4pp | 6.3%+0.1pp | 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×-0.7× | 1.3×+0.4× | 0.9×+0.3× | 0.6×-0.1× | 0.8×-0.2× | |
| Quick ratio | 0.5×-0.6× | 1.1×+0.4× | 0.7×+0.2× | 0.5×-0.1× | 0.6×-0.1× | |
| Cash ratio | 0×-0.2× | 0.2×+0.2× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 1.1×-0.2× | 1.2×+0.1× | 1.2×0.0× | 1.1×0.0× | 1.1×-0.1× | |
| Debt-to-assets | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | 0.4×0.0× | |
| Net debt / EBITDA | 5.1×-0.4× | 5.5×+0.1× | 5.4×+0.3× | 5.1×0.0× | 5.1×-0.6× | |
| Interest coverage | 2.6×0.0× | 2.6×0.0× | 2.6×0.0× | 2.6×0.0× | 2.6×0.0× | |
| Per Share | ||||||
| Book value per share | $52.19-0.1% | $52.24+1.1% | $51.69+2.9% | $50.22-0.8% | $50.63+1.1% | |
| Valuation | ||||||
| Market capitalization | $5.28B+0.8% | $5.24B+16.8% | $4.49B+8.9% | $4.12B-5.8% | $4.37B+4.4% | |
| Enterprise value | $9.5B-2.6% | $9.76B+10.3% | $8.84B+8.0% | $8.19B-2.3% | $8.38B-2.1% | |
| Price / earnings | 18.3×+0.3× | 18×+2.2× | 15.8×+1.3× | 14.5×-1.1× | 15.6×+0.3× | |
| Price / sales | 2.3×0.0× | 2.3×+0.3× | 2×+0.1× | 1.8×-0.1× | 2×0.0× | |
| Price / book | 1.3×0.0× | 1.4×+0.2× | 1.2×+0.1× | 1.1×-0.1× | 1.2×0.0× | |
| EV / EBITDA | 11.5×-0.3× | 11.9×+0.9× | 10.9×+0.7× | 10.2×-0.4× | 10.6×-0.4× | |
| EV / sales | 4.2×-0.1× | 4.2×+0.3× | 3.9×+0.2× | 3.7×-0.1× | 3.8×-0.2× | |
| Free cash flow yield | -5.9%-3.1pp | -2.8%-0.4pp | -2.3%+0.1pp | -2.5%-2.3pp | -0.2%+0.4pp | |
| Earnings yield | 5.5%-0.1pp | 5.6%-0.8pp | 6.3%-0.6pp | 6.9%+0.5pp | 6.4%-0.1pp | |
| Dividend yield | 3.8%+0.1pp | 3.8%-0.5pp | 4.3%-0.3pp | 4.6%+0.4pp | 4.3%-0.1pp | |
| PEG ratio | 5.8×+3.2× | 2.7×+1.3× | 1.3×-3.4× | 4.7×-7.6× | 12.3×+8.6× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- 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.
