FY2025 · ended Dec 31, 2025 · Revenue $2.29B, +9.0% YoY · Filed Feb 11, 2026
Black Hills Corporation (BKH) files with the SEC under industry code 4911, Electric Services. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $2.3 billion and net income of $291.6 million. Free cash flow was -$146.4 million. As of Jun 30, 2026 it held $71.5 million in cash and investments and $4.5 billion in total debt.
Revenue (TTM)
$2.25B
+1.4% vs year-ago TTM
Net income (TTM)
$299.10M
+5.2% vs year-ago TTM
Operating cash flow (TTM)
$628.30M
-6.5% vs year-ago TTM
Free cash flow (TTM)
$-305.20M
-199.5% vs year-ago TTM
EPS (TTM)
$3.98
+0.3% vs year-ago TTM
Dividend per share
$2.70
+4.0% vs prior year
Shares outstanding
75.47M
+5.4% vs prior year
Net cash
$-4.42B
as of Jun 30, 2026
Operating margin
24.4%
FY 2026
Company profile
- Industry
- Electric Services (SIC 4911)
- Listed as
- BKH (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- SD
- Headquarters
- Rapid City, SD
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1130464
- Former names
- BLACK HILLS HOLDING CORP (until Dec 26, 2000)
Other Electric Services companies
- Nextera Energy Inc NEE
- Southern Co SO
- Constellation Energy Corp CEG
- American Electric Power Co Inc AEP
- Dominion Energy, Inc D
- Entergy Corp /DE/ ETR
- Vistra Corp. VST
- Fortis Inc. FTS
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $2.3B | $2.1B | $2.3B | $2.5B | $1.9B |
| Operating income | $537.5M | $503.1M | $472.7M | $455.2M | $409.4M |
| Net income | $291.6M | $273.1M | $262.2M | $258.4M | $236.7M |
| Diluted EPS | $3.98 | $3.91 | $3.91 | $3.97 | $3.74 |
| Operating cash flow | $673.4M | $719.3M | $944.4M | $584.8M | -$64.6M |
| Free cash flow | -$146.4M | -$24.9M | $388.8M | -$19.6M | -$742.1M |
| Total assets | $10.9B | $10.0B | $9.6B | $9.6B | $9.1B |
| Stockholders' equity | $3.8B | $3.5B | $3.2B | $3.0B | $2.8B |
| Cash and investments | $182.8M | $16.1M | $86.6M | $21.4M | $24.4M |
| Total debt | $4.7B | $4.4B | $4.4B | $4.7B | $4.5B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Results of operations
|
Nov 4, 2026 | Nov 4, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Oct 23, 2026 | Oct 22, 2026 |
| 8-K |
Current report
Regulation FD disclosure
|
Oct 6, 2026 | Oct 6, 2026 |
| 8-K |
Current report
Other events
|
Aug 17, 2026 | Aug 17, 2026 |
| 10-Q | Quarterly report | Aug 6, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 5, 2026 | Aug 5, 2026 |
All 1001 Black Hills Corporation SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.