BKHBLACK HILLS CORP /SD/
Electric Services
- Revenue
- $2.3B
- 9.0% YoY
- Operating margin
- 23.5%
- 2.0% YoY
- EBITDA
- $821M
- 6.2% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 2.2×
- $1.8B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear231% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear29% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear12% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.9B | $2.5B | $2.3B | $2.1B | $2.3B | 9.0% |
| Operating income | $409M | $455M | $473M | $503M | $538M | 6.8% |
| Net income | $237M | $258M | $262M | $273M | $292M | 6.8% |
| Operating cash flow | −$65M | $585M | $944M | $719M | $673M | 6.4% |
| Capex | $678M | $604M | $556M | $744M | $820M | 10% |
| Stock-based comp | $10M | $9M | $7M | $11M | $12M | 11% |
| Dividends | $145M | $157M | $168M | $182M | $198M | 8.6% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.