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 statistics

103 measures from SEC filings and the closing price. Hover a name for the formula; the last column is the median of companies in the same industry group.

Important dates

Next earnings: Feb 3, 2027 (estimated, after the close)
Last ex-dividend date: Aug 17, 2026
Fundamentals through: Sep 30, 2026
Share price as of: Nov 12, 2026

Valuation ratiosIndustry

Market Cap: $6.67B; $5.19B
Enterprise Value: $11.12B; $8.57B
PE Ratio: 21.04; 19.99
PS Ratio: 2.86; 2.84
PB Ratio: 1.69; 1.98
P/TBV Ratio: 2.52; 2.10
P/OCF Ratio: 9.39; 9.60

Enterprise valuationIndustry

EV / Sales: 4.76; 4.49
EV / EBITDA: 12.81; 13.40
EV / EBIT: 19.57; 20.95

Share statisticsIndustry

Shares Outstanding: 76M; 137M
Shares Change (YoY): 5.16%; 2.02%
Float: 76M; 118M
Shares Held by Insiders: 0.57%; 1.37%
Shares Held by Institutions: 103.0%; 80.3%

Short sellingIndustry

Short Interest: 13M; –
Short Interest Change: 6.31%; -1.80%
Short % of Float: 16.9%; 4.12%
Short % of Shares Outstanding: 16.8%; 3.58%
Days to Cover: 11.05; 4.52

Stock price statisticsIndustry

52-Week High: $88.36; –
52-Week Low: $67.25; –
20-Day Moving Average: $82.02; –
50-Day Moving Average: $76.23; –
200-Day Moving Average: $73.93; –
Average True Range (14): $1.86; –
Price Change (1 Week): 3.43%; 0.98%
Price Change (1 Month): 14.5%; 3.20%
Price Change (3 Months): 17.8%; -3.70%
Price Change (6 Months): 17.6%; -2.87%
Price Change (YTD): 26.1%; 4.95%
Price Change (1 Year): 21.6%; 1.43%
Price Change (3 Years): 81.3%; 38.4%
Price Change (5 Years): 34.6%; 23.1%
Price Change (10 Years): 50.9%; 53.3%
Average Volume (10 Days): 2M; –
Average Volume (20 Days): 1M; –
Average Volume (90 Days): 1M; –
Relative Volume: 1.50; 0.87
Relative Strength Index (14): 83.3; 53.0
Volatility (1 Year): 23.3%; 25.4%
Beta (5 Years): 0.51; 0.45

MarginsIndustry

Operating Margin: 24.3%; 20.0%
Pretax Margin: 15.9%; 14.6%
Profit Margin: 13.5%; 10.9%
EBITDA Margin: 37.2%; 33.2%
FCF Margin: -13.5%; -8.17%

Returns on capitalIndustry

Return on Equity (ROE): 8.16%; 9.20%
Return on Assets (ROA): 2.94%; 2.64%
Return on Invested Capital (ROIC): 6.03%; 5.77%
Return on Capital Employed (ROCE): 5.88%; 4.78%

Financial positionIndustry

Current Ratio: 0.47; 0.90
Quick Ratio: 0.19; 0.39
Debt / Equity: 1.13; 1.30
Debt / EBITDA: 5.15; 4.88
Net Debt / EBITDA: 5.13; 4.68
Interest Coverage: 2.78; 2.41

GrowthIndustry

Revenue Growth (YoY): 2.80%; 7.96%
Net Income Growth (YoY): 10.7%; 12.1%
EPS Growth (YoY): 5.05%; 10.4%
Revenue Growth (3Y CAGR): -3.26%; 3.90%
Revenue Growth (5Y CAGR): 6.36%; 7.80%
EPS Growth (3Y CAGR): 0.08%; 6.07%
EPS Growth (5Y CAGR): 1.75%; 6.26%

EfficiencyIndustry

Asset Turnover: 0.22; 0.23
Revenue Per Employee: $9.09M; $1.11M
Profits Per Employee: $1.23M; $118.50K
Employee Count: 257; 1,444
WACC: 6.17%; 6.81%

Income statement (TTM)Industry

Revenue: $2.34B; $2.34B
Operating Income: $568.40M; $370.54M
Pretax Income: $371.50M; $279.10M
Net Income: $315.20M; $140.26M
EBITDA: $868.00M; $664.06M
EPS (Diluted): $4.16; $2.12

Balance sheetIndustry

Cash & Short-Term Investments: $18.20M; $51.50M
Total Debt: $4.47B; $4.67B
Net Cash (Debt): -$4.45B; -$2.57B
Net Cash Per Share: -$58.34; -$23.93
Equity (Book Value): $3.95B; $2.20B
Book Value Per Share: $51.84; $18.60
Tangible Book Value: $2.65B; $1.44B
Working Capital: -$780.50M; -$14.10M

Cash flow (TTM)Industry

Operating Cash Flow: $710.70M; $516.26M
Capital Expenditures: -$1.03B; -$771.90M
Free Cash Flow: -$314.90M; -$37.62M
FCF Per Share: -$4.13; -$0.53

Dividends and yieldsIndustry

Earnings Yield: 4.72%; 4.38%
FCF Yield: -4.72%; -3.93%
Dividend Yield: 3.09%; 2.81%
Buyback Yield: -1.03%; -1.03%
Shareholder Yield: 2.06%; 1.60%
Dividend Per Share: $2.70; $1.98
Dividend Growth (YoY): 4.00%; 5.10%
Years of Dividend Growth: 16; 11
Payout Ratio: 67.0%; 58.8%

Taxes and interestIndustry

Interest Expense: $204.10M; $204.10M
Income Tax: $45.80M; $44.44M
Effective Tax Rate: 12.3%; 16.0%

Scores and fair valueIndustry

Graham Number: $69.66; $47.70
Graham Upside: -20.4%; -27.6%
Altman Z-Score: 1.03; 1.12
Piotroski F-Score: 6; 5

Total return vs. the S&P 500

Price change plus reinvested dividends, to the close on Nov 12, 2026. The S&P 500 is measured by the SPY fund.

Period	BKH	S&P 500	Difference	BKH per year	S&P 500 per year
1 month	+14.7%	-2.7%	+17.4 pts
3 months	+20.8%	-1.7%	+22.5 pts
Year to date	+29.7%	+11.9%	+17.8 pts
1 year	+26.0%	+12.0%	+14.0 pts
3 years	+102.9%	+78.2%	+24.7 pts	+26.6%	+21.2%
5 years	+65.0%	+73.2%	−8.3 pts	+10.5%	+11.6%
10 years	+116.2%	+309.6%	−193.5 pts	+8.0%	+15.1%

Short interest

Shares sold short and not yet covered, reported by brokers to FINRA twice a month. Latest settlement date Oct 30, 2026.

13M BKH shares were sold short on Oct 30, 2026, up 6.3% from the previous report, or 16.87% of the shares available to trade. At recent volumes it would take 11.1 days to buy them back. Over the last 20 sessions, 56.5% of the volume reported to FINRA was short selling.

Settlement date	Shares short	Change	Avg. daily volume	Days to cover
Oct 30, 2026	12,787,876	+6.3%	1,156,820	11.1
Oct 15, 2026	12,028,583	+7.9%	1,594,291	7.5
Sep 30, 2026	11,145,304	+2.9%	1,221,023	9.1
Sep 15, 2026	10,827,316	+4.4%	846,101	12.8
Aug 31, 2026	10,370,299	+9.3%	747,370	13.9
Aug 14, 2026	9,491,221	+2.7%	863,124	11.0
Jul 31, 2026	9,245,064	-2.4%	665,914	13.9
Jul 15, 2026	9,473,494	+1.1%	792,457	11.9
Jun 30, 2026	9,373,927	+8.8%	983,608	9.5
Jun 15, 2026	8,615,678	+2.4%	1,420,922	6.1
May 29, 2026	8,410,104	-7.7%	740,478	11.4
May 15, 2026	9,111,173	-5.2%	954,899	9.5