(BKH) Black Hills - Ratings and Ratios
Electricity, Natural Gas, Coal
Dividends
| Dividend Yield | 3.72% |
| Yield on Cost 5y | 5.61% |
| Yield CAGR 5y | 4.62% |
| Payout Consistency | 98.2% |
| Payout Ratio | 66.4% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 20.6% |
| Value at Risk 5%th | 32.9% |
| Relative Tail Risk | -3.12% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.00 |
| Alpha | 16.75 |
| CAGR/Max DD | 0.20 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.343 |
| Beta | 0.260 |
| Beta Downside | 0.288 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.66% |
| Mean DD | 14.65% |
| Median DD | 13.53% |
Description: BKH Black Hills November 07, 2025
Black Hills Corporation (NYSE:BKH) operates regulated electric and natural-gas utilities across 12 states, split into two segments. The Electric Utilities segment serves roughly 225 k customers with 1,394 MW of generation capacity and 9,100 mi of transmission/distribution lines, while the Gas Utilities segment reaches about 1.13 M customers, operating 4,650 mi of intrastate pipelines, 44,500 mi of distribution mains, seven storage sites, and about 50,000 hp of compression equipment. The company’s generation mix includes wind, natural-gas, and coal, and it also runs a coal mine near Gillette, WY.
Key recent metrics (FY 2023/early 2024 filings) show revenue of roughly $2.1 billion, adjusted EBITDA near $620 million, and a dividend yield around 3.5 % with a payout ratio of ~70 %. The balance sheet carries net debt of about $1.8 billion, yielding a debt-to-EBITDA ratio of ~2.9×, and the firm maintains a Moody’s rating of Baa3, reflecting moderate credit risk. Primary economic drivers include regulated rate-case outcomes, regional natural-gas demand for residential heating, and the push toward renewable generation-particularly wind projects that have helped offset coal-related carbon-risk concerns.
For a deeper quantitative dive, you might explore Black Hills’ valuation metrics and scenario analyses on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income (284.8m TTM) > 0 and > 6% of Revenue (6% = 136.3m TTM) |
| FCFTA -0.01 (>2.0%) and ΔFCFTA -1.95pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -2.95% (prev 2.98%; Δ -5.93pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.06 (>3.0%) and CFO 658.5m > Net Income 284.8m (YES >=105%, WARN >=100%) |
| Net Debt (4.35b) to EBITDA (809.8m) ratio: 5.37 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.91 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (72.9m) change vs 12m ago 3.26% (target <= -2.0% for YES) |
| Gross Margin 38.54% (prev 38.19%; Δ 0.34pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 22.66% (prev 21.84%; Δ 0.82pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 2.65 (EBITDA TTM 809.8m / Interest Expense TTM 201.3m) >= 6 (WARN >= 3) |
Altman Z'' 0.94
| (A) -0.01 = (Total Current Assets 667.6m - Total Current Liabilities 734.6m) / Total Assets 10.33b |
| (B) 0.12 = Retained Earnings (Balance) 1.29b / Total Assets 10.33b |
| (C) 0.05 = EBIT TTM 532.7m / Avg Total Assets 10.02b |
| (D) 0.21 = Book Value of Equity 1.36b / Total Liabilities 6.48b |
| Total Rating: 0.94 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 45.03
| 1. Piotroski 3.50pt |
| 2. FCF Yield -1.09% |
| 3. FCF Margin -4.64% |
| 4. Debt/Equity 1.16 |
| 5. Debt/Ebitda 5.37 |
| 6. ROIC - WACC (= 1.51)% |
| 7. RoE 7.83% |
| 8. Rev. Trend -25.75% |
| 9. EPS Trend -23.17% |
What is the price of BKH shares?
Over the past week, the price has changed by +3.85%, over one month by +1.62%, over three months by +23.49% and over the past year by +24.43%.
Is BKH a buy, sell or hold?
- Strong Buy: 1
- Buy: 1
- Hold: 3
- Sell: 1
- Strong Sell: 0
What are the forecasts/targets for the BKH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 75 | 3.3% |
| Analysts Target Price | 75 | 3.3% |
| ValueRay Target Price | 77.9 | 7.3% |
BKH Fundamental Data Overview December 10, 2025
P/E Trailing = 17.7071
P/E Forward = 16.0
P/S = 2.3297
P/B = 1.4045
P/EG = 2.8086
Beta = 0.73
Revenue TTM = 2.27b USD
EBIT TTM = 532.7m USD
EBITDA TTM = 809.8m USD
Long Term Debt = 4.25b USD (from longTermDebt, last quarter)
Short Term Debt = 126.0m USD (from shortTermDebt, last quarter)
Debt = 4.38b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.35b USD (from netDebt column, last quarter)
Enterprise Value = 9.65b USD (5.29b + Debt 4.38b - CCE 21.1m)
Interest Coverage Ratio = 2.65 (Ebit TTM 532.7m / Interest Expense TTM 201.3m)
FCF Yield = -1.09% (FCF TTM -105.4m / Enterprise Value 9.65b)
FCF Margin = -4.64% (FCF TTM -105.4m / Revenue TTM 2.27b)
Net Margin = 12.54% (Net Income TTM 284.8m / Revenue TTM 2.27b)
Gross Margin = 38.54% ((Revenue TTM 2.27b - Cost of Revenue TTM 1.40b) / Revenue TTM)
Gross Margin QoQ = 38.91% (prev 38.13%)
Tobins Q-Ratio = 0.93 (Enterprise Value 9.65b / Total Assets 10.33b)
Interest Expense / Debt = 1.13% (Interest Expense 49.4m / Debt 4.38b)
Taxrate = 13.38% (4.00m / 29.9m)
NOPAT = 461.4m (EBIT 532.7m * (1 - 13.38%))
Current Ratio = 0.91 (Total Current Assets 667.6m / Total Current Liabilities 734.6m)
Debt / Equity = 1.16 (Debt 4.38b / totalStockholderEquity, last quarter 3.77b)
Debt / EBITDA = 5.37 (Net Debt 4.35b / EBITDA 809.8m)
Debt / FCF = -41.27 (negative FCF - burning cash) (Net Debt 4.35b / FCF TTM -105.4m)
Total Stockholder Equity = 3.64b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.76% (Net Income 284.8m / Total Assets 10.33b)
RoE = 7.83% (Net Income TTM 284.8m / Total Stockholder Equity 3.64b)
RoCE = 6.75% (EBIT 532.7m / Capital Employed (Equity 3.64b + L.T.Debt 4.25b))
RoIC = 5.77% (NOPAT 461.4m / Invested Capital 8.00b)
WACC = 4.26% (E(5.29b)/V(9.67b) * Re(6.97%) + D(4.38b)/V(9.67b) * Rd(1.13%) * (1-Tc(0.13)))
Discount Rate = 6.97% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 3.54%
Fair Price DCF = unknown (Cash Flow -105.4m)
EPS Correlation: -23.17 | EPS CAGR: -21.40% | SUE: -0.10 | # QB: 0
Revenue Correlation: -25.75 | Revenue CAGR: -6.90% | SUE: -0.12 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.01 | Chg30d=+0.000 | Revisions Net=-2 | Analysts=3
EPS next Year (2026-12-31): EPS=4.34 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=+5.7% | Growth Revenue=+4.4%
Additional Sources for BKH Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle