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Black Hills Corporation BKH
$ 87.1 1.14%
report update icon

Quarterly report 2026-Q3
added 11-05-2026

Black Hills Corporation Financial Statements 2025-2007 | BKH

Annual Financial Statements Black Hills Corporation

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007

Market Cap

 		5.32 B 4.17 B 3.45 B 4.13 B 4.2 B 3.5 B 5.08 B 3.64 B 2.95 B 3.19 B 2.52 B 2.24 B 2.41 B 1.78 B 1.34 B 1.09 B 871 M 1.34 B -

Shares

 		73 M 69.8 M 67 M 64.9 M 63.2 M 62.4 M 60.7 M 54.4 M 53.2 M 51.9 M 51.2 M 44.7 M 44.2 M 43.8 M 39.9 M 38.9 M 38.6 M 38.2 M -

Historical Prices

 		72.9 59.8 51.5 63.7 66.5 56.1 76.3 60.6 48 52.6 40.1 39.5 42 29.8 23.9 27.9 22.5 35.2 41.4

Net Income

 		292 M 273 M 262 M 258 M 237 M 228 M 199 M 258 M 177 M 73 M -32.1 M 129 M 115 M 81.5 M 49.7 M 68.7 M 81.6 M 105 M -

Revenue

 		2.31 B 2.13 B 2.33 B 2.55 B 1.95 B 1.7 B 1.73 B 1.75 B 1.68 B 1.57 B 1.3 B 1.39 B 1.28 B 1.17 B 1.27 B 1.31 B 1.27 B 1.01 B -

Gross Profit

 		- - - - - - 668 M 647 M 662 M 617 M 487 M 453 M 438 M 439 M 697 M 653 M 603 M - -

Operating Income

 		538 M 503 M 473 M 455 M 409 M 428 M 406 M 397 M 417 M 336 M 300 M 264 M 259 M 276 M 186 M 183 M 124 M 55.9 M -

Interest Expense

 		200 M 182 M 168 M 161 M 152 M 143 M 138 M 140 M 137 M 136 M 84.6 M 71 M 112 M 114 M 91.4 M 90.6 M 83.3 M 58.3 M -

EBITDA

 		821 M 773 M 730 M 706 M 645 M 653 M 611 M 593 M 606 M 521 M 438 M 412 M 400 M 400 M 324 M 310 M 245 M 163 M -

Operating Expenses

 		1.77 B 1.62 B 1.86 B 2.1 B 1.54 B 1.27 B 262 M 250 M 246 M 288 M 207 M 192 M 182 M 197 M 511 M 1.04 B 1.07 B 950 M -

All numbers in USD currency

Quarterly Income Statement Black Hills Corporation

2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2010-Q3 2010-Q2

Shares

 		76.1 M 75.9 M 75.4 M - 72.8 M 72.4 M 71.6 M - 70.5 M 69 M 68.2 M - 67.3 M 66.6 M 66 M - 64.9 M 64.7 M 64.6 M - 63.3 M 62.9 M 62.6 M 68 M 62.6 M 62.6 M 61.8 M 204 K 61 M 60.5 M 59.9 M - 53.4 M 53.4 M 53.3 M - 53.2 M 53.2 M 53.2 M - 52.2 M 51.5 M 51 M 51.2 M 44.6 M 44.6 M 44.5 M 44.7 M 44.4 M 44.4 M 44.3 M 44.5 M 44.2 M 44.2 M 44.1 M 44.2 M 43.8 M 43.8 M 43.7 M 44 M 39.1 M 39.1 M 39.1 M - 38.9 K 38.9 M

Net Income

 		43.5 M 38.2 M 131 M - 24.9 M 27.5 M 134 M - 24.4 M 22.8 M 132 M - 45.4 M 23.1 M 117 M - 35 M 33.4 M 121 M - 48.2 M 28.3 M 100 M - 36.3 M 21 M 93.2 M 69.2 M 11.7 M 14.6 M 104 M 86.6 M 17 M 21.9 M 133 M 50.7 M 31.6 M 25.3 M 80.1 M 18.2 M 17.9 M 3.28 M 40 M -14.2 M -9.94 M -41.8 M 33.8 M 34.5 M 27.4 M 20.3 M 48.1 M 18.7 M 23.1 M 30.5 M 43.2 M 30.8 M 34.5 M -13.5 M 29.8 M 25.6 M -10.5 M 7.75 M 26.9 M 33.5 M 12.4 M -8.66 M

Revenue

 		461 M 453 M 781 M - 430 M 439 M 805 M - 402 M 403 M 717 M - 407 M 411 M 921 M - 463 M 470 M 824 M - 381 M 373 M 633 M 482 M 344 M 327 M 537 M 478 M 324 M 334 M 598 M 501 M 322 M 356 M 575 M 455 M 336 M 342 M 548 M 455 M 334 M 325 M 450 M 318 M 272 M 272 M 442 M 378 M 272 M 283 M 460 M 355 M 260 M 280 M 381 M 319 M 247 M 242 M 366 M 361 M 250 M 261 M 401 M - 264 M 271 M

Cost of Revenue

 		- - - - - - - - - - - - - - - - - - - - - - - - 71.7 M - - - 73.5 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Gross Profit

 		- - - - - - - - - - - - - - - - - - - - - - - - 273 M - - - 250 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Income

 		98.1 M 97 M 202 M - 78.7 M 82.5 M 205 M - 75.8 M 70.6 M 193 M - 97.8 M 63.5 M 175 M - 79.5 M 72.4 M 173 M - 89.9 M 67.3 M 138 M 126 M 82.2 M 66.9 M 153 M 121 M 70.6 M 54 M 160 M 114 M 65.1 M 69.6 M 148 M 117 M 79.6 M 69.8 M 150 M 110 M 70.8 M 63.7 M 91.3 M 197 K -2.04 M -38.9 M 70.5 M 70.8 M 55.2 M 47.4 M 90.4 M 72.1 M 56.5 M 50 M 80.8 M 75.3 M 77.8 M 20.6 M 70 M 52.1 M 39.6 M 36.2 M 58.4 M 46.9 M 47.9 M 30.8 M

Interest Expense

 		1.3 M 51.6 M 51.9 M - 49.4 M 48.9 M 51.3 M - 45.2 M 42.6 M -800 K - -600 K -1.5 M 674 K - 464 K -38.8 M 704 K - 1.56 M -191 K 266 K - -36 M -1.86 M 2.35 M - -33.5 M 263 K -789 K - -703 K -1.55 M -172 K - 189 K -76 K -119 K - 160 K -47 K 688 K - 842 K 395 K 331 K - 261 K 409 K 592 K - 318 K 473 K 405 K - -287 K 888 K 1.47 M - 528 K 29 M 29.7 M - 24.3 M 22.6 M

EBITDA

 		174 M 172 M 277 M - 150 M 152 M 274 M - 145 M 137 M 259 M - 163 M 128 M 237 M - 143 M 137 M 234 M - 149 M 126 M 196 M 126 M 139 M 124 M 210 M 121 M 122 M 106 M 211 M 114 M 114 M 118 M 197 M 117 M 127 M 117 M 197 M 110 M 120 M 111 M 136 M 197 K 35.7 M 1.19 M 110 M 70.8 M 91.9 M 83.3 M 126 M 72.1 M 92.7 M 85.2 M 116 M 75.3 M 119 M 62 M 109 M 52.1 M 72.8 M 68.4 M 90.3 M 46.9 M 78 M 61.1 M

Operating Expenses

 		368 M 356 M 579 M - 352 M 356 M 600 M - 326 M 332 M 533 M - 309 M 348 M 746 M - 383 M 402 M 650 M - 291 M 305 M 495 M 360 M 264 M 260 M 384 M 356 M 255 M 280 M 438 M -114 M 257 M 286 M 427 M -117 M 256 M 272 M 397 M -110 M 275 M 290 M 376 M -197 K 274 M 311 M 371 M -70.8 M 217 M 236 M 370 M -72.1 M 204 M 231 M 301 M -75.3 M 169 M 222 M 296 M -52.1 M 210 M 224 M 342 M -46.9 M 216 M 240 M

General and Administrative Expenses

 		- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 38.7 M 46.4 M

All numbers in USD currency

Financial statements are the primary tool companies use to inform stakeholders about their financial position, performance, and changes in capital structure. It is a kind of "business language" understood by investors, creditors, tax authorities, and other participants in the economic environment.

Main types of financial statements Black Hills Corporation BKH
  1. Income Statement
    Shows income, expenses, and resulting profit or loss over a specific period. Helps assess business profitability.
  2. Balance Sheet
    Reflects a company’s assets, liabilities, and equity as of a specific date. It’s a snapshot of what the company owns and owes.
    Assets — everything the company owns (cash, equipment, buildings, accounts receivable, etc.).
    Liabilities — debts and other external sources of financing.
    Equity — owners' capital and retained earnings.
  3. Cash Flow Statement
    Reveals how the company earns and spends money in three areas: operating, investing, and financing activities.
International reporting standards
  • IFRS — International Financial Reporting Standards, applicable to public and multinational companies.
  • GAAP — Generally Accepted Accounting Principles used in the United States.
  • RAS — Russian Accounting Standards, used domestically in Russia.

Financial reporting Black Hills Corporation plays a crucial role for investors as it serves as an objective source of information about a company's current state. Based on the reports, one can determine whether a company is growing, stagnating, or losing market share. This allows investors to identify both promising and problematic assets in a timely manner.

In addition, financial data provides a basis for forecasting future returns. Historical trends in revenue, profit, and cash flow help evaluate potential dividends, the likelihood of stock price growth, and overall investment risk.

Transparent and accurate reporting is also an indicator of a company’s maturity and managerial responsibility. Such openness builds investor confidence and simplifies investment decision-making, especially when comparing multiple companies.

Finally, financial statements enable high-quality comparative analysis. They allow companies to be evaluated against each other in terms of profitability, debt levels, margins, and other key metrics — which is particularly important when choosing the best investment options within an industry or market segment.

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