Black Hills Corp

NYSE:BKHUtilitiesCBOEFTSE:MRUTSTOXX:EDD24BP

$76.40−0.30%At closeAt close · Tue 20 Oct · ≈ AED 280.58 · Market cap $5.83B · Next earnings Wed 4 Nov

Ratio	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	Current · undated	YoY
Gross margin	41.8%	36.2%	30.3%	34.2%	39.5%	38.5%	—	—
Operating margin	25.2%	21.0%	17.8%	20.3%	23.6%	23.3%	23.3%	+0.0 pts
Net margin	13.4%	12.1%	10.1%	11.2%	12.8%	12.6%	13.0%	+0.4 pts
EBITDA margin	38.0%	33.3%	27.8%	31.7%	36.9%	35.8%	—	—
Return on equity	8.9%	8.5%	8.6%	8.2%	7.8%	7.6%	7.7%	+0.0 pts
Return on assets	2.8%	2.6%	2.7%	2.7%	2.7%	2.7%	2.8%	+0.1 pts
Return on capital employed	5.8%	5.0%	5.7%	5.6%	5.4%	5.3%	—	—
Debt / equity	1.5×	1.6×	1.6×	1.4×	1.3×	1.2×	1.2×	−2.1%
Debt / assets	46.6%	49.8%	48.5%	45.7%	43.7%	43.2%	—	—
Interest coverage	3.0×	2.7×	2.8×	2.6×	2.6×	2.6×	—	—
Current ratio	0.7×	0.9×	0.6×	0.7×	1.0×	1.3×	1.3×	+0.0%
Quick ratio	0.5×	0.7×	0.5×	0.6×	0.8×	1.1×	—	—
Cash ratio	0.0×	0.0×	0.0×	0.1×	0.0×	0.2×	0.2×	+0.0%
Asset turnover	0.2×	0.2×	0.3×	0.2×	0.2×	0.2×	—	—
Inventory turnover	8.4×	8.2×	8.6×	9.5×	8.4×	8.2×	—	—
Receivables turnover	5.9×	5.7×	4.9×	6.3×	5.7×	5.6×	—	—
Dividend payout	59.5%	61.3%	60.6%	64.1%	66.8%	67.9%	—	—

Margins, returns, leverage and liquidityUpdated 31 Dec 2025 ·

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Current snapshot ratios have no reporting date and are shown separately from fiscal periods.