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Black Hills BKH Regulatory liabilities

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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%
Enterprise value$9.76B+13.4%
P/E19.2×+2.8×
P/S2.4×+0.3×

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
Debt / equity1.1×0.0×
Current ratio0.6×-0.1×

Where this comes from

Reported directly by Black Hills in its filing.

Tagged under the XBRL concept us-gaap:RegulatoryLiabilityCurrent.

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 regulatory liabilities?
Black Hills (BKH) reported regulatory liabilities of $85.9M in Q1 2026.
How has Black Hills's regulatory liabilities changed year-over-year?
Black Hills's regulatory liabilities decreased by 13.2% year-over-year, from $99M to $85.9M.
What is the long-term trend for Black Hills's regulatory liabilities?
Over 5 years (2020 to 2025), Black Hills's regulatory liabilities has grown at a 31.9% compound annual growth rate (CAGR), from $25.06M to $99.9M.
What does regulatory liabilities mean?
This metric represents obligations to provide future rate credits or refunds to customers as mandated by regulatory authorities, often resulting from the collection of funds in advance of related costs or tax benefits. It functions as a liability that will reduce future revenue or increase future expenses when the regulatory obligation is satisfied. Monitoring this balance is essential for understanding the company's future earnings pressure and its commitment to returning value to ratepayers.