Black Hills BKH Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 23.4%+0.1pp | 23.3%-0.4pp | 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 | |
| EBITDA margin | 36.1%+0.3pp | 35.6%-0.8pp | 35.6%+0.5pp | 35.8%0.0pp | 35.7%+0.5pp | |
| Free cash flow margin | -13.7%-13.3pp | -6.3%-5.2pp | -4.6%-8.9pp | -4.5%-12.8pp | -0.3%-11.8pp | |
| Returns | ||||||
| Return on equity | 7.6%-0.4pp | 8%-0.2pp | 7.9%+0.2pp | 8.1%-0.4pp | 8%-0.6pp | |
| Return on assets | 2.8%-0.1pp | 2.8%0.0pp | 2.8%+0.2pp | 2.8%0.0pp | 2.8%-0.1pp | |
| 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× | |
| Quick ratio | 0.5×-0.1× | 1.1×+0.3× | 0.7×-0.2× | 0.5×-0.5× | 0.6×0.0× | |
| Cash ratio | 0×0.0× | 0.2×+0.2× | 0×0.0× | 0×-0.6× | 0×-0.1× | |
| Leverage | ||||||
| Debt-to-equity | 1.1×0.0× | 1.2×0.0× | 1.2×-0.1× | 1.1×-0.1× | 1.1×0.0× | |
| 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 | 5.1×0.0× | 5.5×-0.1× | 5.4×-0.3× | 5.1×+0.3× | 5.1×+0.2× | |
| Interest coverage | 2.6×0.0× | 2.6×0.0× | 2.6×+0.1× | 2.6×-0.1× | 2.6×-0.1× | |
| 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% | |
| Enterprise value | $9.5B+13.4% | $9.76B+14.0% | $8.84B+3.9% | $8.19B+11.1% | $8.38B+13.1% | |
| 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× | |
| EV / sales | 4.2×+0.4× | 4.2×+0.2× | 3.9×-0.1× | 3.7×+0.2× | 3.8×+0.3× | |
| Free cash flow yield | -5.9%-5.8pp | -2.8%-2.2pp | -2.3%-4.5pp | -2.5%-7.2pp | -0.2%-6.8pp | |
| Earnings yield | 5.5%-0.9pp | 5.6%-1.0pp | 6.3%+0.4pp | 6.9%-0.5pp | 6.4%-1.0pp | |
| Dividend yield | 3.8%-0.4pp | 3.8%-0.6pp | 4.3%+0.1pp | 4.6%0.0pp | 4.3%-0.3pp | |
| PEG ratio | 5.8×-6.5× | 2.7×-1.0× | 1.3×— | 4.7×+3.6× | 12.3×+10.7× |
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.
