(BKH) Black Hills - Overview
Stock: Electricity, Natural Gas
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 4.39% |
| Yield on Cost 5y | 6.75% |
| Yield CAGR 5y | 4.24% |
| Payout Consistency | 100.0% |
| Payout Ratio | 66.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 22.2% |
| Relative Tail Risk | -4.54% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.09 |
| Alpha | 19.06 |
| Character TTM | |
|---|---|
| Beta | 0.223 |
| Beta Downside | 0.208 |
| Drawdowns 3y | |
|---|---|
| Max DD | 26.00% |
| CAGR/Max DD | 0.34 |
Description: BKH Black Hills January 10, 2026
Black Hills Corporation (NYSE:BKH) is a U.S.-based utility holding company that runs two primary businesses: Electric Utilities and Gas Utilities. The electric segment serves roughly 225 k customers across Colorado, Montana, South Dakota and Wyoming, operating 1,394 MW of generation (mix of wind, natural-gas and coal) and over 9,100 mi of transmission and distribution lines. The gas segment reaches about 1.13 M customers in seven states, managing 4,648 mi of intrastate pipelines, 44,524 mi of distribution mains, seven storage sites, and roughly 50,000 hp of compression equipment, while also offering appliance repair and industrial electrical construction services.
According to the company’s 2023 Form 10-K (the most recent filing available as of early 2024), BKH reported total revenue of approximately $2.2 billion, an adjusted earnings-per-share (EPS) of $1.15, and a dividend yield near 2.5 %. Its leverage remains moderate, with a debt-to-equity ratio of roughly 1.1 ×, and capital expenditures for the year were about $200 million, primarily directed toward renewable-energy projects and pipeline upgrades.
Key economic drivers for BKH include regional natural-gas demand (particularly in the Midwest and Rocky-Mountain markets), the ongoing shift toward renewable generation (wind capacity grew by ~15 % YoY in 2023), and regulatory environments that affect rate-case approvals and emissions standards. A sector-wide factor is the U.S. utility industry’s exposure to interest-rate movements, as higher rates can increase financing costs for infrastructure projects and influence dividend attractiveness for income-focused investors.
For a deeper dive into BKH’s valuation metrics and comparable peers, you may find the ValueRay platform useful.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 291.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -1.92 > 1.0 |
| NWC/Revenue: -2.90% < 20% (prev -0.99%; Δ -1.91% < -1%) |
| CFO/TA 0.06 > 3% & CFO 658.5m > Net Income 291.6m |
| Net Debt (4.38b) to EBITDA (826.9m): 5.30 < 3 |
| Current Ratio: 0.91 > 1.5 & < 3 |
| Outstanding Shares: last quarter (75.4m) vs 12m ago 5.31% < -2% |
| Gross Margin: 34.55% > 18% (prev 0.39%; Δ 3415 % > 0.5%) |
| Asset Turnover: 22.70% > 50% (prev 21.23%; Δ 1.47% > 0%) |
| Interest Coverage Ratio: 2.70 > 6 (EBITDA TTM 826.9m / Interest Expense TTM 201.9m) |
Altman Z'' 0.72
| A: -0.01 (Total Current Assets 667.6m - Total Current Liabilities 734.6m) / Total Assets 10.33b |
| B: 0.12 (Retained Earnings 1.29b / Total Assets 10.33b) |
| C: 0.05 (EBIT TTM 544.8m / Avg Total Assets 10.18b) |
| D: 0.0 (Book Value of Equity 0.0 / Total Liabilities 6.48b) |
| Altman-Z'' Score: 0.72 = B |
What is the price of BKH shares?
Over the past week, the price has changed by -0.93%, over one month by +4.19%, over three months by +7.76% and over the past year by +26.10%.
Is BKH a buy, sell or hold?
- StrongBuy: 1
- Buy: 1
- Hold: 3
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the BKH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 79.3 | 9.6% |
| Analysts Target Price | 79.3 | 9.6% |
| ValueRay Target Price | 79 | 9.3% |
BKH Fundamental Data Overview February 07, 2026
P/E Forward = 16.835
P/S = 2.4733
P/B = 1.477
P/EG = 2.9536
Revenue TTM = 2.31b USD
EBIT TTM = 544.8m USD
EBITDA TTM = 826.9m USD
Long Term Debt = 4.25b USD (from longTermDebt, two quarters ago)
Short Term Debt = 126.0m USD (from shortTermDebt, two quarters ago)
Debt = 4.38b USD (from shortLongTermDebtTotal, two quarters ago)
Net Debt = 4.38b USD (using Total Debt 4.38b, CCE unavailable)
Enterprise Value = 10.00b USD (5.62b + Debt 4.38b - (null CCE))
Interest Coverage Ratio = 2.70 (Ebit TTM 544.8m / Interest Expense TTM 201.9m)
EV/FCF = -94.85x (Enterprise Value 10.00b / FCF TTM -105.4m)
FCF Yield = -1.05% (FCF TTM -105.4m / Enterprise Value 10.00b)
FCF Margin = -4.56% (FCF TTM -105.4m / Revenue TTM 2.31b)
Net Margin = 12.62% (Net Income TTM 291.6m / Revenue TTM 2.31b)
Gross Margin = 34.55% ((Revenue TTM 2.31b - Cost of Revenue TTM 1.51b) / Revenue TTM)
Gross Margin QoQ = 26.97% (prev 38.91%)
Tobins Q-Ratio = 0.97 (Enterprise Value 10.00b / Total Assets 10.33b)
Interest Expense / Debt = 1.15% (Interest Expense 50.5m / Debt 4.38b)
Taxrate = 13.67% (17.2m / 125.8m)
NOPAT = 470.3m (EBIT 544.8m * (1 - 13.67%))
Current Ratio = 0.91 (Total Current Assets 667.6m / Total Current Liabilities 734.6m)
Debt / Equity = 1.16 (Debt 4.38b / totalStockholderEquity, two quarters ago 3.77b)
Debt / EBITDA = 5.30 (Net Debt 4.38b / EBITDA 826.9m)
Debt / FCF = -41.54 (negative FCF - burning cash) (Net Debt 4.38b / FCF TTM -105.4m)
Total Stockholder Equity = 3.64b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.87% (Net Income 291.6m / Total Assets 10.33b)
RoE = 8.02% (Net Income TTM 291.6m / Total Stockholder Equity 3.64b)
RoCE = 6.91% (EBIT 544.8m / Capital Employed (Equity 3.64b + L.T.Debt 4.25b))
RoIC = 5.85% (NOPAT 470.3m / Invested Capital 8.04b)
WACC = 4.22% (E(5.62b)/V(10.00b) * Re(6.74%) + D(4.38b)/V(10.00b) * Rd(1.15%) * (1-Tc(0.14)))
Discount Rate = 6.74% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 5.30%
Fair Price DCF = unknown (Cash Flow -105.4m)
EPS Correlation: -8.38 | EPS CAGR: -6.58% | SUE: -0.45 | # QB: 0
Revenue Correlation: -19.65 | Revenue CAGR: -6.68% | SUE: -2.26 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.01 | Chg30d=+0.000 | Revisions Net=-2 | Analysts=3
EPS current Year (2026-12-31): EPS=4.34 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=+6.0% | Growth Revenue=+12.3%
EPS next Year (2027-12-31): EPS=4.60 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=+5.8% | Growth Revenue=+0.0%