Black Hills Corp (BKH)
Black Hills Corp brought in $2.3B of revenue over the twelve months to September 30, 2026, up 2.8% from a year earlier. Net income was $315.1M, a net margin of 13.5%. In fiscal 2025 capital spending exceeded operating cash flow by $146.4M. At September 30, 2026 it held $18.2M in cash against $4.4B of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on November 5, 2026.
Key facts about Black Hills Corp
- Net worth
- Black Hills Corp has a market value (market cap) of $6.6B at the latest share price, and shareholders' equity of $4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $2.3B (+8.6% year on year), with net income of $291.6M. Over the 12 months to September 30, 2026: revenue $2.3B, net income $315.1M.
- Cash flow
- In fiscal 2025 operations brought in $673.4M of cash; after $819.8M of capital spending, free cash flow was -$146.4M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on November 5, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- Black Hills Corp's next report is expected around February 3, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Black Hills Corp paid dividends of $2.70 per share in fiscal 2025, a yield of 3.11% at the current price.
What Black Hills Corp does
Black Hills Corp is registered with the SEC under industry code SIC 4911 (Electric Services). Its shares trade on NYSE under the ticker BKH.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $2.3B | $291.6M | $3.98 | -$146.4M |
| 2024 | $2.1B | $273.1M | $3.91 | -$24.9M |
| 2023 | $2.3B | $262.2M | $3.91 | $388.8M |
| 2022 | $2.6B | $258.4M | $3.97 | -$19.6M |
| 2021 | $1.9B | $236.7M | $3.74 | -$742.1M |
| 2020 | $1.7B | $227.6M | $3.65 | -$225.5M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where BKH ranks in Utilities
Dividends
Black Hills Corp paid $2.70 per share in fiscal 2025. At the current price that is a yield of 3.11%. It paid out $197.9M in cash dividends, 68% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $2.70 | $197.9M | 68% |
| 2024 | $2.60 | $182.3M | 67% |
| 2023 | $2.50 | $168.1M | 64% |
| 2022 | $2.41 | $156.7M | 61% |
| 2021 | $2.29 | $145M | 61% |
| 2020 | $2.17 | $135.4M | 60% |
Latest SEC filings
What Black Hills Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 5, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 8.3% to $466.1M versus the same quarter last year; diluted EPS $0.54 versus $0.34.
- November 4, 2026
- October 23, 2026
- October 6, 2026
- August 17, 2026Other event 8-K
- August 7, 2026Passive stake (5% or more) SCHEDULE 13G
- August 6, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 3.1% to $452.8M versus the same quarter last year; diluted EPS $0.50 versus $0.38.
- August 5, 2026
- June 18, 2026
- May 19, 2026
Insider trades
What the people running Black Hills Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| May 27, 2026 | Otto Robert PDirector | Sold | 4,109 | $305K |
| May 1, 2026 | Beard Robert F.Director | Received as pay | 1,921 | - |
| May 1, 2026 | Granger Barry MDirector | Received as pay | 1,921 | - |
| May 1, 2026 | Jensen Tony ADirector | Received as pay | 1,921 | - |
| May 1, 2026 | McAllister Kathleen SDirector | Received as pay | 1,921 | - |
| May 1, 2026 | Mills Steven RichardDirector | Received as pay | 1,921 | - |
| May 1, 2026 | Otto Robert PDirector | Received as pay | 1,921 | - |
| May 1, 2026 | Prochazka Scott MDirector | Received as pay | 1,921 | - |
Who owns BKH
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Portfolio Management13G, passive | 6.66% | April 29, 2026 |
| Vanguard Capital Management13G, passive | 5.22% | April 29, 2026 |
Largest institutional holders
Insiders
15 insiders reported holding 388,775 shares in total, about $33.8M at the last price.
| Holder | Shares |
|---|---|
| Evans Linden RPresident and CEO | 168,773 |
| Nooney Kimberly FSVP & CFO | 38,691 |
| Jones Marne MSVP - Utilities | 38,667 |
| Mills Steven RichardDirector | 29,622 |
| Jensen Tony ADirector | 18,118 |
| McAllister Kathleen SDirector | 16,529 |
| Taylor TeresaDirector | 13,646 |
| Granger Barry MDirector | 11,716 |
| Prochazka Scott MDirector | 11,716 |
| Otto Robert PDirector | 10,886 |
Questions about BKH
What does Black Hills Corp do?
Black Hills Corp is a company in the Utilities sector, listed on NYSE as BKH. Its shares trade on NYSE under the ticker BKH.
What is Black Hills Corp's net worth?
Black Hills Corp has a market value (market cap) of $6.6B at the latest share price, and shareholders' equity of $4B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Black Hills Corp profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $315.1M on revenue of $2.3B, a net margin of 13.5%.
How much revenue does Black Hills Corp make?
Over the twelve months to September 30, 2026 Black Hills Corp reported revenue of $2.3B. That is 2.8% more than a year earlier.
When did Black Hills Corp last report?
Its most recent periodic report is the quarterly report (10-Q) filed on November 5, 2026. It covers the period to September 30, 2026.
When is Black Hills Corp's next earnings report?
Black Hills Corp's next report is expected around February 3, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Does Black Hills Corp pay a dividend?
Yes. Black Hills Corp paid dividends of $2.70 per share in fiscal 2025, a yield of 3.11% at the current price.
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Where the numbers come from
Financial figures are the values Black Hills Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.