Black Hills Corporation
Research Black Hills Corporation (BKH) on Bullrun: valuation model: 12.7% undervalued, market cap USD 5.57B, P/E 18.4, dividend yield 3.8%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerBKH
- ExchangeNYSE
- CountryUnited States
- SectorUtilities
- IndustryUtilities-Regulated Gas
- CurrencyUSD
- Valuation signal12.7% undervalued
- Market capUSD 5.57B
- P/E18.4
- Dividend yield3.8%
- Financial periodQ2 2026
- RevenueUSD 452.80M
- Net incomeUSD 38.20M
- Free cash flow-USD 23.00M
- Gross margin41.7%
Valuation Snapshot
Bullrun's latest valuation model marks Black Hills Corporation as 12.7% undervalued; latest market cap is USD 5.57B; P/E is 18.4; dividend yield is 3.8%.
Peer valuation comparison
Latest P/E is 18.4x versus a Utilities sector median of 17.14x (7.4% above).
Latest dividend yield is 3.79% versus a Utilities sector median of 3.61% (5.0% above).
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 2.29B | USD 291.60M | -USD 146.40M | 38.9% | 3.98 | USD 182.80M | USD 4.70B | USD 3.82B |
| FY2024 | USD 2.10B | USD 273.10M | -USD 24.90M | 40.1% | 3.91 | USD 16.10M | USD 4.25B | USD 3.50B |
| FY2023 | USD 2.30B | USD 262.20M | USD 388.80M | 34.6% | 3.91 | USD 86.60M | USD 4.40B | USD 3.22B |
| FY2022 | USD 2.54B | USD 258.40M | -USD 19.60M | n/a | 3.97 | USD 21.40M | USD 4.13B | USD 2.99B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 5.57B | 18.4 | 3.8% | 2.79 |
| 2025 | 2025-12-31 | USD 5.24B | 17.4 | 3.9% | 2.72 |
| 2024 | 2024-12-31 | USD 4.19B | 14.9 | 4.4% | 2.6 |
| 2023 | 2023-12-29 | USD 3.67B | 14.0 | 4.7% | 2.52 |
| 2022 | 2022-12-30 | USD 4.58B | 17.7 | 3.5% | 2.43 |
| 2021 | 2021-12-31 | USD 4.57B | 18.9 | 3.3% | 2.31 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 2.79 USD, yield 3.8%.
| Year | Dividends/share |
|---|---|
| FY2025 | 2.7 USD |
| FY2024 | 2.6 USD |
| FY2023 | 2.5 USD |
| FY2022 | 2.41 USD |
About Black Hills Corporation
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates through the Electric Utilities and Gas Utilities segments. The Electric Utilities segment engages in the generation, transmission, and distribution of electricity to electric utility customers in Colorado, Montana, South Dakota, and Wyoming;
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Frequently asked questions
Is Black Hills Corporation overvalued or undervalued?
Bullrun's valuation model currently marks Black Hills Corporation as 12.7% undervalued.
What is Black Hills Corporation's market cap?
Black Hills Corporation's market capitalization is USD 5.57B.
What is Black Hills Corporation's P/E ratio?
Black Hills Corporation's price-to-earnings (P/E) ratio is 18.4.
Does Black Hills Corporation pay a dividend?
Black Hills Corporation has a dividend yield of 3.8%.
What does Black Hills Corporation do?
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates through the Electric Utilities and Gas Utilities segments.