The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

BKH

Concerning the House

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates through the Electric Utilities and Gas Utilities segments. The Electric Utilities segment engages in the generation, transmission, and distribution of electricity to electric utility customers in Colorado, Montana, South Dakota, and Wyoming; ownership and operation of 1,386 megawatts of generation capacity, and 9,478 miles of electric transmission and distribution lines; sale of excess power to other utilities and marketing companies; and ownership and operation of non-regulated power generation and mining assets. Its Gas Utilities segment is involved in the distribution of natural gas to approximately 1,138,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; ownership and operation of 4,581 miles of intrastate gas transmission pipelines; 44,840 miles of gas distribution mains and service lines; seven natural gas storage sites; and approximately 50,000 horsepower of compression and 494 miles of gathering lines. The company also provides non-regulated services to its retail customers, including Service Guard Comfort Plan, which provides home appliance repair services through on-going monthly service agreements to residential utility customers; Tech Services, which include construction and maintenance of customer-owned gas infrastructure facilities, as well as electrical system construction services; and HomeServe, which are additional home repair service plans for natural gas residential customers. In addition, the company produces electric power through wind, natural gas, and coal-fired generating plants, as well as coal at its coal mine located near Gillette, Wyoming. Black Hills Corporation was incorporated in 1941 and is headquartered in Rapid City, South Dakota.

United States · ir.blackhillscorp.com

The Long Run

FY 2010–2025 · 16 years

LineLatestCAGRTrend
Revenue$2.30B+5.7%
Gross profit$766.82M+27.1%
Operating income$503.10M+15.8%
Net income$291.60M+26.9%
Cash from ops$673.40M+6.3%
Quotation

$73.94

+0.78 (+1.1%)

52w hi$76.10
52w lo$56.69
Vol477.83K
As ofAug 13
The Verdict

Hold

Our score -0.30

Short-0.17
Medium-0.47
Long-0.24

computed 2026-08-13

By the Numbers

Black Hills Corporation

Utilities · Utilities - Regulated Gas

Market cap$5.64B
Enterprise value$10.08B
Trailing P/E18.62x
Forward P/E16.03x
EV / EBITDA12.01x
P / S (ttm)2.45x
Profit margin13.0%
Return on equity8.0%
Revenue growth+3.1%
Earnings growth+31.6%
Debt / equity111.69
Risk Metrics
Beta vs SPX0.22
Corr SPX0.17
Annual vol20.9%
Annual ret+14.9%
Sharpe0.71
Max DD-13.9%

Window: 504 trading days (504 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.26
Sector-0.01
Technical-0.08
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$73.63$74.39$73.70$73.94477.83K
Aug 12$73.58$74.06$73.01$73.16666.20K
Aug 11$73.80$74.23$72.86$73.26631.30K
Aug 10$74.21$74.82$73.01$73.701.06M
Aug 7$71.98$75.31$71.98$74.65918.90K