Black Hills (BKH)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from BKH's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Black Hills's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.9B | $2.6B | $2.3B | $2.1B | $2.3B |
| Net income | $237M | $258M | $262M | $273M | $292M |
| Free cash flow | -$742M | -$20M | $389M | -$25M | -$146M |
| EPS (diluted) | $3.74 | $3.97 | $3.91 | $3.91 | $3.98 |
| Operating margin | 21.0% | 17.8% | 20.3% | 23.6% | 23.3% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own BKH
From each investor's latest 13F filing (what a 13F shows).
Insider buying
Open-market purchases by Black Hills's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Black Hills insiders buying the stock?
No open-market insider purchases of BKH in the last 12 months, according to SEC Form 4 filings.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.