Is BLACK HILLS CORP /SD/ financially healthy?

BLACK HILLS CORP /SD/ scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

BLACK HILLS CORP /SD/ (BKH)

NYSE · Common Stock · Electric Services

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Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 8

PASSReturn on assets positiveROA 2.7%
PASSOperating cash flow positiveOCF 673M
FAILReturn on assets improving2.7% → 2.7%
PASSCash flow exceeds earningsOCF 673M vs NI 292M
FAILLong-term debt ratio falling42.4% → 43.2% of assets
PASSCurrent ratio improving0.97 → 1.35
FAILNo share dilution70M → 73M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.21× → 0.21×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$1.7B	$227.6M	−$225.5M	—	62,439,000
FY2021	$1.9B	$236.7M	−$742.1M	—	63,325,000
FY2022	$2.6B	$258.4M	−$19.6M	—	65,021,000
FY2023	$2.3B	$262.2M	$388.8M	—	67,100,000
FY2024	$2.1B	$273.1M	−$24.9M	—	69,900,000
FY2025

Identity

CIK: 0001130464
FIGI: BBG000BD9ZM7
SIC: 4911 · Electric Services
Incorporated: SD
Headquarters: RAPID CITY, SD

Ownership

Institutional: 104.4%
Institutions: 599
Insiders: 0.5%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other electric services companies

BLACK HILLS CORP /SD/ files under SIC 4911 — all 11 electric services companies compared on assets and F-score.

SOUTHERN COSO DOMINION ENERGY, INCD AMERICAN ELECTRIC POWER CO INCAEP ENTERGY CORP /DE/ETR Constellation Energy CorpCEG Vistra Corp.VST

Questions about BLACK HILLS CORP /SD/

Is BLACK HILLS CORP /SD/ financially healthy?: BLACK HILLS CORP /SD/ scores 5 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.