Revenue
$452.80M
Fiscal year ended 2026-06-30Operating income
$97.00M
Fiscal year ended 2026-06-30Free cash flow
-$23.00M
Fiscal year ended 2026-06-30BLACK HILLS CORP /SD/ (BKH) reported revenue of $452.80M and net income of $38.20M for the fiscal year ended 2026-06-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from BLACK HILLS CORP /SD/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Electric Services.
Income
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $452.80M | $780.70M | $622.60M | $430.20M | $439.00M | $805.20M | $585.00M | $401.60M | $402.60M | $726.40M |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | $97.00M | $201.90M | $171.40M | $78.70M | $82.50M | $205.00M | $163.30M | $75.80M | $70.60M | $193.30M |
| Net income | $38.20M | $131.00M | $105.00M | $24.90M | $27.50M | $134.30M | $98.10M | $24.40M | $22.80M | $127.90M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 76.10M | shares 75.60M | Unavailable | shares 72.90M | shares 72.40M | shares 71.80M | Unavailable | shares 70.60M | shares 69.00M | shares 68.30M |
| Pretax income | $45.60M | $150.70M | $125.90M | $29.90M | $33.20M | $154.50M | $113.80M | $29.30M | $28.40M | $148.50M |
| Income tax expense | $5.20M | $17.60M | $17.20M | $4.00M | $4.40M | $18.10M | $12.70M | $2.90M | $3.70M | $16.90M |
| Diluted EPS | $0.50 | $1.73 | Unavailable | $0.34 | $0.38 | $1.87 | Unavailable | $0.35 | $0.33 | $1.87 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $71.50M | $23.60M | $182.80M | $21.10M | $8.10M | $6.60M | $16.10M | $12.50M | $624.80M | $123.00M |
| Total assets | $11.04B | $10.82B | $10.87B | $10.33B | $10.09B | $10.06B | $10.02B | $9.72B | $10.19B | $9.68B |
| Current assets | $745.10M | $788.20M | $995.90M | $667.60M | $608.40M | $708.10M | $742.30M | $599.50M | $1.17B | $797.60M |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $1.43B | $1.22B | $740.00M | $734.60M | $953.90M | $928.90M | $763.40M | $536.20M | $1.11B | $1.09B |
| Total equity incl. NCI | $4.02B | $4.03B | $3.91B | $3.85B | $3.72B | $3.72B | $3.59B | $3.53B | $3.44B | $3.42B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $157.90M | $146.80M | $172.40M | $173.00M | $145.20M | $128.10M | $153.90M | $155.40M | $134.80M | $130.60M |
| Accounts receivable | $282.10M | $383.40M | $389.00M | $251.40M | $260.80M | $377.90M | $351.20M | $205.40M | $221.50M | $334.40M |
| Goodwill | $1.30B | $1.30B | $1.30B | $1.30B | $1.30B | $1.30B | $1.30B | $1.30B | $1.30B | $1.30B |
| Long-term debt | $3.99B | $3.99B | $4.70B | $4.25B | $3.95B | $3.95B | $4.25B | $4.25B | $4.25B | $3.80B |
| Accounts payable | $275.20M | $210.80M | $311.70M | $219.10M | $180.80M | $216.80M | $229.10M | $136.30M | $155.20M | $132.60M |
Cash flow
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $195.10M | $176.20M | $168.10M | $88.90M | $188.60M | $227.80M | $153.20M | $102.10M | $230.60M | $233.40M |
| Capital expenditures | $218.10M | $267.40M | $269.60M | $178.40M | $218.90M | $152.90M | $213.70M | $188.10M | $166.20M | $176.20M |
| Investing cash flow | -$222.10M | -$270.00M | -$271.80M | -$180.20M | -$221.00M | -$155.20M | -$214.00M | -$191.30M | -$163.80M | -$176.90M |
| Financing cash flow | $75.10M | -$65.20M | $265.00M | $104.60M | $34.10M | -$81.90M | $64.60M | -$522.90M | $435.20M | -$19.80M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | $3.20M | $3.20M | $3.80M | $2.30M | $3.10M | $2.60M | $2.40M | $2.80M | $3.00M | $2.40M |
| Common dividends paid | $53.50M | $53.10M | $51.10M | $49.20M | $49.00M | $48.60M | $46.50M | $46.50M | $44.90M | $44.40M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $75.30M | $74.80M | $73.30M | $71.50M | $69.80M | $69.20M | $68.30M | $69.30M | $66.60M | $65.90M |
Derived
| Metric | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$23.00M | -$91.20M | -$101.50M | -$89.50M | -$30.30M | $74.90M | -$60.50M | -$86.00M | $64.40M | $57.20M |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | 21.4% | 25.9% | 27.5% | 18.3% | 18.8% | 25.5% | 27.9% | 18.9% | 17.5% | 26.6% |
| FCF margin | -5.1% | -11.7% | -16.3% | -20.8% | -6.9% | 9.3% | -10.3% | -21.4% | 16.0% | 7.9% |
| SBC / revenue | 0.7% | 0.4% | 0.6% | 0.5% | 0.7% | 0.3% | 0.4% | 0.7% | 0.7% | 0.3% |
| Current ratio | 0.52x | 0.65x | 1.35x | 0.91x | 0.64x | 0.76x | 0.97x | 1.12x | 1.06x | 0.73x |
| Revenue YoY growth | 3.1% | -3.0% | 6.4% | 7.1% | 9.0% | 10.8% | 0.1% | -1.4% | -2.1% | -21.1% |
| Net margin | 8.4% | 16.8% | 16.9% | 5.8% | 6.3% | 16.7% | 16.8% | 6.1% | 5.7% | 17.6% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 48.2% | 34.3% | 43.3% | 41.5% | 49.9% | 19.0% | 36.5% | 46.8% | 41.3% | 24.3% |
| Long-term debt / equity | 0.99x | Unavailable | 1.20x | 1.10x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 11.4% | 11.7% | 13.7% | 13.4% | 13.3% | 11.7% | 11.2% | 9.9% | 13.0% | 11.4% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open BKH in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-06View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-11View SEC filing
10-Q · Filed 2025-11-06View SEC filing
10-Q · Filed 2025-07-31View SEC filing
10-Q · Filed 2025-05-08View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.