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BKH · NYSE · United States · Electric Services
In shortBLACK HILLS CORP /SD/ is profitable, burns cash and carries moderate debt, with revenue growing (+8.6% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 23.3% | 94/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 12.6% | 70/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 8.0% | 40/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 5.5% | 37/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.35× | 45/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 1.23× | 43/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | 5.50× | 0/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 2.69× | 11/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 1.46 | 9/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -6.3% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | -0.50× | 0/100 |
| Years with positive free cash flow (last 5) | 1 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 5 | 33/100 |
| Revenue growth volatility | 16.8% | 49/100 |
| Operating margin volatility | 2.4% | 88/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -3.3% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | 0.1% | 25/100 |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 1,949 | 2,552 | 2,331 | 2,128 | 2,310 |
| Operating income | 409 | 455 | 473 | 503 | 538 |
| Interest expense | 152 | 161 | 168 | 182 | 200 |
| Pre-tax income | 258 | 296 | 302 | 320 | 344 |
| Income tax | 7.2 | 25 | 26 | 36 | 44 |
| Net income | 237 | 258 | 262 | 273 | 292 |
| Diluted EPS | $3.74 | $3.97 | $3.91 | $3.91 | $3.98 |
| Diluted shares (millions) | 63 | 73 | 67 | 70 | 73 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
1.46 Grey zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 6, 2026