BKH: Black Hills Corp Financial Statements

Balance sheet, income statement, and cash flow statements for Black Hills Corp (BKH).

OverviewDividends

$4.19B Market Cap.

As of 05/08/2025 5:00 PM ET (MRY) • Disclaimer

BKH Market Cap. (MRY)


BKH Shares Outstanding (MRY)


BKH Assets (MRY)


Total Assets

$10.02B

Total Liabilities

$6.44B

Total Investments

$0

BKH Income (MRY)


Revenue

$2.13B

Net Income

$273.10M

Operating Expense

$270.10M

BKH Cash Flow (MRY)


CF Operations

$719.30M

CF Investing

-$746.00M

CF Financing

-$42.90M

BKH Balance Sheet (MRY)


Metric

2024

2023

2022

2021

Total Assets

$10,022,600,000 (4.18%)

$9,620,400,000 (0.02%)

$9,618,200,000 (5.33%)

$9,131,896,000 (12.90%)

Assets Current

$742,300,000 (-10.20%)

$826,600,000 (-22.87%)

$1,071,700,000 (32.61%)

$808,133,000 (63.82%)

Assets Non-Current

$9,280,300,000 (5.53%)

$8,793,800,000 (2.89%)

$8,546,500,000 (2.68%)

$8,323,763,000 (9.59%)

Goodwill & Intangible Assets

$1,307,100,000 (-0.06%)

$1,307,900,000 (-0.09%)

$1,309,100,000 (-0.09%)

$1,310,224,000 (-0.09%)

Shareholders Equity

$3,501,500,000 (8.90%)

$3,215,300,000 (7.36%)

$2,994,900,000 (7.46%)

$2,787,094,000 (8.81%)

Property Plant & Equipment Net

$7,629,900,000 (7.17%)

$7,119,300,000 (4.73%)

$6,798,000,000 (5.41%)

$6,449,176,000 (7.13%)

Cash & Equivalents

$23,400,000 (-74.84%)

$93,000,000 (244.44%)

$27,000,000 (95.51%)

$13,810,000 (28.60%)

Accumulated Other Comprehensive Income

-$9,400,000 (36.49%)

-$14,800,000 (5.13%)

-$15,600,000 (22.33%)

-$20,084,000 (26.56%)

Deferred Revenue

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Total Investments

$0 (0%)

$0 (0%)

$600,000 (-86.28%)

$4,373,000 (136.63%)

Investments Current

$0 (0%)

$0 (0%)

$600,000 (-86.28%)

$4,373,000 (136.63%)

Investments Non-Current

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Inventory

$153,900,000 (-4.35%)

$160,900,000 (-22.42%)

$207,400,000 (37.37%)

$150,979,000 (28.60%)

Trade & Non-Trade Receivables

$351,200,000 (0.26%)

$350,300,000 (-31.07%)

$508,200,000 (58.00%)

$321,652,000 (20.94%)

Trade & Non-Trade Payables

$229,100,000 (22.91%)

$186,400,000 (-39.87%)

$310,000,000 (42.36%)

$217,761,000 (18.77%)

Accumulated Retained Earnings (Deficit)

$1,249,100,000 (7.85%)

$1,158,200,000 (8.84%)

$1,064,100,000 (10.56%)

$962,458,000 (10.53%)

Tax Assets

$19,800,000 (7.03%)

$18,500,000 (5.11%)

$17,600,000 (-2.31%)

$18,017,000 (-7.35%)

Tax Liabilities

$625,100,000 (14.07%)

$548,000,000 (7.68%)

$508,900,000 (9.35%)

$465,388,000 (13.89%)

Total Debt

$4,384,000,000 (-0.39%)

$4,401,200,000 (-5.71%)

$4,667,900,000 (2.66%)

$4,547,103,000 (20.59%)

Debt Current

$133,800,000 (-77.70%)

$600,000,000 (-43.43%)

$1,060,600,000 (152.42%)

$420,180,000 (73.29%)

Debt Non-Current

$4,250,200,000 (11.81%)

$3,801,200,000 (5.38%)

$3,607,300,000 (-12.59%)

$4,126,923,000 (16.97%)

Total Liabilities

$6,437,400,000 (1.94%)

$6,314,600,000 (-3.27%)

$6,528,300,000 (4.54%)

$6,244,773,000 (15.09%)

Liabilities Current

$763,400,000 (-35.58%)

$1,185,100,000 (-28.90%)

$1,666,700,000 (84.84%)

$901,713,000 (29.46%)

Liabilities Non-Current

$5,674,000,000 (10.62%)

$5,129,500,000 (5.51%)

$4,861,600,000 (-9.01%)

$5,343,060,000 (12.97%)

BKH Income Statement (MRY)


Metric

2024

2023

2022

2021

Revenues

$2,127,700,000 (-8.73%)

$2,331,300,000 (-8.64%)

$2,551,800,000 (30.92%)

$1,949,100,000 (14.86%)

Cost of Revenue

$1,354,500,000 (-15.44%)

$1,601,800,000 (-13.21%)

$1,845,700,000 (41.57%)

$1,303,700,000 (24.85%)

Selling General & Administrative Expense

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Research & Development Expense

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Operating Expenses

$270,100,000 (5.18%)

$256,800,000 (2.35%)

$250,900,000 (6.31%)

$236,000,000 (5.14%)

Interest Expense

$195,200,000 (8.44%)

$180,000,000 (10.70%)

$162,600,000 (5.52%)

$154,100,000 (6.33%)

Income Tax Expense

$36,300,000 (41.80%)

$25,600,000 (1.59%)

$25,200,000 (250.00%)

$7,200,000 (-78.13%)

Net Loss Income from Discontinued Operations

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Consolidated Income

$283,700,000 (2.79%)

$276,000,000 (1.92%)

$270,800,000 (7.80%)

$251,200,000 (3.48%)

Net Income to Non-Controlling Interests

$10,600,000 (-23.19%)

$13,800,000 (11.29%)

$12,400,000 (-14.48%)

$14,500,000 (-4.32%)

Net Income

$273,100,000 (4.16%)

$262,200,000 (1.47%)

$258,400,000 (9.17%)

$236,700,000 (3.99%)

Preferred Dividends Income Statement Impact

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Income Common Stock

$273,100,000 (4.16%)

$262,200,000 (1.47%)

$258,400,000 (9.17%)

$236,700,000 (3.99%)

Weighted Average Shares

$69,800,000 (4.18%)

$67,000,000 (3.24%)

$64,900,000 (2.69%)

$63,200,000 (1.32%)

Weighted Average Shares Diluted

$69,900,000 (4.17%)

$67,100,000 (3.23%)

$65,000,000 (2.69%)

$63,300,000 (1.38%)

Earning Before Interest & Taxes (EBIT)

$504,600,000 (7.87%)

$467,800,000 (4.84%)

$446,200,000 (12.11%)

$398,000,000 (-1.84%)

Gross Profit

$773,200,000 (5.99%)

$729,500,000 (3.31%)

$706,100,000 (9.41%)

$645,400,000 (-1.13%)

Operating Income

$503,100,000 (6.43%)

$472,700,000 (3.84%)

$455,200,000 (11.19%)

$409,400,000 (-4.41%)

BKH Cash Flow Statement (MRY)


Metric

2024

2023

2022

2021

Net Cash Flow from Investing

-$746,000,000 (-39.00%)

-$536,700,000 (11.13%)

-$603,900,000 (9.08%)

-$664,200,000 (12.80%)

Net Cash Flow from Financing

-$42,900,000 (87.45%)

-$341,700,000 (-1157.89%)

$32,300,000 (-95.59%)

$731,900,000 (237.46%)

Net Cash Flow from Operations

$719,300,000 (-23.84%)

$944,400,000 (61.49%)

$584,800,000 (1005.26%)

-$64,600,000 (-111.92%)

Net Cash Flow / Change in Cash & Cash Equivalents

-$69,600,000 (-205.45%)

$66,000,000 (400.00%)

$13,200,000 (325.81%)

$3,100,000 (206.20%)

Net Cash Flow - Business Acquisitions and Disposals

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Net Cash Flow - Investment Acquisitions and Disposals

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Capital Expenditure

-$744,200,000 (-33.95%)

-$555,600,000 (8.07%)

-$604,400,000 (10.79%)

-$677,500,000 (11.72%)

Issuance (Repayment) of Debt Securities

-$16,200,000 (93.78%)

-$260,600,000 (-325.82%)

$115,400,000 (-85.16%)

$777,700,000 (181.83%)

Issuance (Purchase) of Equity Shares

$181,400,000 (53.34%)

$118,300,000 (31.30%)

$90,100,000 (-24.29%)

$119,000,000 (19.87%)

Payment of Dividends & Other Cash Distributions

-$182,300,000 (-8.45%)

-$168,100,000 (-7.28%)

-$156,700,000 (-8.07%)

-$145,000,000 (-7.06%)

Effect of Exchange Rate Changes on Cash

$0 (0%)

$0 (0%)

$0 (0%)

$0 (0%)

Share Based Compensation

$10,600,000 (51.43%)

$7,000,000 (-18.60%)

$8,600,000 (-11.34%)

$9,700,000 (80.53%)

Depreciation Amortization & Accretion

$270,100,000 (5.18%)

$256,800,000 (2.35%)

$250,900,000 (6.31%)

$236,000,000 (5.14%)

BKH Financial Metrics (MRY)


Metric

2024

2023

2022

2021

Gross Margin

36.30% (15.97%)

31.30% (13.00%)

27.70% (-16.31%)

33.10% (-14.03%)

Profit Margin

12.80% (14.29%)

11.20% (10.89%)

10.10% (-16.53%)

12.10% (-9.70%)

EBITDA Margin

36.40% (17.04%)

31.10% (13.92%)

27.30% (-16.00%)

32.50% (-12.40%)

Return on Average Equity (ROAE)

8.00% (-3.61%)

8.30% (-6.74%)

8.90% (1.14%)

8.80% (-2.22%)

Return on Average Assets (ROAA)

2.80% (3.70%)

2.70% (-3.57%)

2.80% (3.70%)

2.70% (-6.90%)

Return on Sales (ROS)

23.70% (17.91%)

20.10% (14.86%)

17.50% (-14.22%)

20.40% (-14.64%)

Return on Invested Capital (ROIC)

4.20% (2.44%)

4.10% (5.13%)

3.90% (8.33%)

3.60% (-16.28%)

Dividend Yield

4.40% (-4.35%)

4.60% (35.29%)

3.40% (6.25%)

3.20% (-8.57%)

Price to Earnings Ratio (P/E)

14.97 (8.47%)

13.8 (-21.93%)

17.67 (-6.34%)

18.87 (12.08%)

Price to Sales Ratio (P/S)

1.92 (23.87%)

1.55 (-13.36%)

1.79 (-21.81%)

2.29 (1.28%)

Price to Book Ratio (P/B)

1.2 (4.82%)

1.14 (-25.33%)

1.53 (-5.45%)

1.62 (7.38%)

Debt to Equity Ratio (D/E)

1.84 (-6.42%)

1.96 (-9.91%)

2.18 (-2.72%)

2.24 (5.81%)

Earnings Per Share (EPS)

3.91 (0.00%)

3.91 (-1.76%)

3.98 (6.42%)

3.74 (2.47%)

Sales Per Share (SPS)

30.48 (-12.40%)

34.8 (-11.50%)

39.32 (27.49%)

30.84 (13.37%)

Free Cash Flow Per Share (FCFPS)

-0.36 (-106.15%)

5.8 (2021.52%)

-0.3 (97.43%)

-11.74 (-224.72%)

Book Value Per Share (BVPS)

50.16 (4.53%)

47.99 (4.00%)

46.15 (4.64%)

44.1 (7.40%)

Tangible Assets Book Value Per Share (TABVPS)

124.86 (0.64%)

124.07 (-3.09%)

128.03 (3.45%)

123.76 (13.91%)

Enterprise Value Over EBIT (EV/EBIT)

17 (0.00%)

17 (-19.05%)

21 (-4.55%)

22 (22.22%)

Enterprise Value Over EBITDA (EV/EBITDA)

10.89 (-1.29%)

11.03 (-16.36%)

13.19 (-6.55%)

14.11 (19.07%)

Asset Turnover

0.21 (-11.52%)

0.24 (-11.31%)

0.27 (24.55%)

0.22 (1.38%)

Current Ratio

0.97 (39.45%)

0.7 (8.40%)

0.64 (-28.24%)

0.9 (26.55%)

Dividends

$2.6 (4.00%)

$2.5 (3.73%)

$2.41 (5.24%)

$2.29 (5.53%)

Free Cash Flow (FCF)

-$24,900,000 (-106.40%)

$388,800,000 (2083.67%)

-$19,600,000 (97.36%)

-$742,100,000 (-229.03%)

Enterprise Value (EV)

$8,435,165,712 (5.54%)

$7,992,157,140 (-13.06%)

$9,192,895,738 (2.75%)

$8,946,958,524 (19.84%)

Earnings Before Tax (EBT)

$309,400,000 (7.51%)

$287,800,000 (1.48%)

$283,600,000 (16.28%)

$243,900,000 (-6.38%)

Earnings Before Interest Taxes & Depreciation Amortization (EBITDA)

$774,700,000 (6.91%)

$724,600,000 (3.94%)

$697,100,000 (9.95%)

$634,000,000 (0.65%)

Invested Capital

$12,312,700,000 (7.67%)

$11,435,600,000 (1.35%)

$11,283,300,000 (-1.48%)

$11,453,252,000 (16.39%)

Working Capital

-$21,100,000 (94.11%)

-$358,500,000 (39.75%)

-$595,000,000 (-535.82%)

-$93,580,000 (53.96%)

Tangible Asset Value

$8,715,500,000 (4.85%)

$8,312,500,000 (0.04%)

$8,309,100,000 (6.23%)

$7,821,672,000 (15.41%)

Market Capitalization

$4,188,465,712 (14.18%)

$3,668,149,140 (-19.87%)

$4,577,604,738 (1.64%)

$4,503,796,524 (16.81%)

Average Equity

$3,409,825,000 (8.33%)

$3,147,644,750 (8.18%)

$2,909,719,500 (8.09%)

$2,692,042,500 (6.44%)

Average Assets

$9,900,975,000 (3.07%)

$9,605,639,750 (3.27%)

$9,301,427,500 (4.87%)

$8,869,134,250 (13.50%)

Invested Capital Average

$11,993,725,000 (4.81%)

$11,443,358,250 (-0.29%)

$11,476,369,500 (4.84%)

$10,946,454,000 (15.32%)

Shares

71,573,235 (5.27%)

67,991,643 (4.48%)

65,078,259 (1.97%)

63,820,271 (1.71%)