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Black Hills Corp (BKH) stock

BKHNYSEElectric ServicesFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 10/308% above fair value
$87.53+0.57 (+0.66%)

Close on Nov 12, 2026Market cap $6.67BP/E 21.0Yield 3.09%

Black Hills operating margin

Operating margin is operating income as a percentage of revenue.

Black Hills's operating margin for the twelve months ending Sep 30, 2026 was 24.3%. For fiscal 2025 it was 23.3%, against 23.6% the year before. The highest annual figure on record is 25.2% in fiscal 2020.

Annual operating margin

PeriodPeriod endValueChange (pts)
FY2025Dec 31, 202523.3%−0.4
FY2024Dec 31, 202423.6%+3.4
FY2023Dec 31, 202320.3%+2.4
FY2022Dec 31, 202217.8%−3.2
FY2021Dec 31, 202121.0%−4.2
FY2020Dec 31, 202025.2%+1.8
FY2019Dec 31, 201923.4%+0.8
FY2018Dec 31, 201822.6%−2.2
FY2017Dec 31, 201724.8%+3.0
FY2016Dec 31, 201621.8%−2.0
FY2015Dec 31, 201523.8%+4.9
FY2014Dec 31, 201418.9%−1.4
FY2013Dec 31, 201320.3%−3.2
FY2012Dec 31, 201223.5%+8.9
FY2011Dec 31, 201114.6%−0.4
FY2010Dec 31, 201015.0%+4.7
FY2009Dec 31, 200910.4%+4.8
FY2008Dec 31, 20085.6%–

Quarterly operating margin

Change is against the same quarter a year earlier.

PeriodPeriod endValueChange (pts)
Q3 FY2026Sep 30, 202621.0%+2.8
Q2 FY2026Jun 30, 202621.4%+2.6
Q1 FY2026Mar 31, 202625.9%+0.4
Q4 FY2025Dec 31, 202527.0%−0.4
Q3 FY2025Sep 30, 202518.3%−0.6
Q2 FY2025Jun 30, 202518.8%+1.3
Q1 FY2025Mar 31, 202525.5%−1.2
Q4 FY2024Dec 31, 202427.3%+4.3
Q3 FY2024Sep 30, 202418.9%−5.1
Q2 FY2024Jun 30, 202417.5%+2.1
Q1 FY2024Mar 31, 202426.6%+7.6
Q4 FY2023Dec 31, 202323.1%+6.6
Q3 FY2023Sep 30, 202324.0%+6.8
Q2 FY2023Jun 30, 202315.4%+0.2
Q1 FY2023Mar 31, 202319.0%−2.1
Q4 FY2022Dec 31, 202216.4%−3.8
Q3 FY2022Sep 30, 202217.2%−6.4
Q2 FY2022Jun 30, 202215.3%−2.8
Q1 FY2022Mar 31, 202221.0%−0.8
Q4 FY2021Dec 31, 202120.3%−5.6
Q3 FY2021Sep 30, 202123.6%−0.1
Q2 FY2021Jun 30, 202118.1%−2.4
Q1 FY2021Mar 31, 202121.8%−6.7
Q4 FY2020Dec 31, 202025.9%+0.5
Q3 FY2020Sep 30, 202023.7%+2.1
Q2 FY2020Jun 30, 202020.5%+4.3
Q1 FY2020Mar 31, 202028.5%+1.7
Q4 FY2019Dec 31, 201925.4%+2.6
Q3 FY2019Sep 30, 201921.7%+1.5
Q2 FY2019Jun 30, 201916.2%−3.4
Q1 FY2019Mar 31, 201926.8%+1.0
Q4 FY2018Dec 31, 201822.8%−3.0
Q3 FY2018Sep 30, 201820.2%−3.5
Q2 FY2018Jun 30, 201819.6%−0.9
Q1 FY2018Mar 31, 201825.8%−1.7
Q4 FY2017Dec 31, 201725.7%+1.5
Q3 FY2017Sep 30, 201723.7%–
Q2 FY2017Jun 30, 201720.4%–
Q1 FY2017Mar 31, 201727.4%–
Q4 FY2016Dec 31, 201624.2%–

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