NYSE:BKH
Black Hills Corp.
Black Hills Corp.'s revenue grew 8.6% in fiscal 2025 to $2.3B while operating margin fell to 23.3%. Free cash flow was −$146.4M, −6.3% of revenue, and the diluted share count rose 4.7%.Summary generated from Black Hills Corp.'s SEC filings. Latest annual report filed Feb 11, 2026.
Key statistics
Fiscal 2025 from SEC filings. MethodologyRevenue (FY25)$2.3B
Revenue growth+8.6%
Revenue, 5-yr CAGR+6.4%
Gross marginn/a
Operating margin23.3%
Net margin12.6%
ROIC5.8%
Return on equity8.0%
Debt / equity1.23
Free cash flow−$146.4M
FCF margin−6.3%
Share count change+4.7%
Financials
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | 1,949 | 2,552 | 2,331 | 2,128 | 2,310 |
| Operating income | 409 | 455 | 473 | 503 | 538 |
| Net income | 237 | 258 | 262 | 273 | 292 |
| Free cash flow | −742 | −20 | 389 | −25 | −146 |
Recent filings
- 8-KRegulation FD disclosure
Oct 6, 2026 - 8-KOther events
Aug 17, 2026 - 10-QQuarterly report for the period ended Jun 30, 2026
Aug 6, 2026 - 8-KResults of operations and financial condition
Aug 5, 2026 - 4Insider transaction report
May 28, 2026 - 8-KOther events
May 15, 2026 - 10-QQuarterly report for the period ended Mar 31, 2026
May 7, 2026 - 8-KResults of operations and financial condition
May 6, 2026