- ISIN
- US0921131092
- CUSIP
- 092113109
- Sector
- Utilities
- Industry
- Utilities - Diversified
- IPO Date
- Sep 7, 1984
Highlights
- Market Cap
- $5.51B
- Enterprise Value
- $5.50B
- EPS (TTM)
- $2.10
- PE Ratio
- 34.80
- PEG Ratio
- 20.76
- Total Revenue (TTM)
- $2.29B
- Gross Profit (TTM)
- $596.90M
- EBITDA (TTM)
- $554.70M
- Year Range
- $55.50 - $78.69
- Target Price
- $91.00
Share Price Chart
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Performance
BKH Performance Chart
Black Hills Corporation (BKH) is up 7.1% since the beginning of the year. At $73 per share, BKH is trading 7.3% below its 52-week high of $79. Investors who bought $1,000 worth of BKH shares 5 years ago would now be looking at an investment worth $1,329.
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Returns By Period
Black Hills Corporation (BKH) has returned 7.06% so far this year and 36.06% over the past 12 months. Over the last ten years, BKH has returned 5.35% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Black Hills Corporation
- 1D
- 0.23%
- 1M
- -1.84%
- YTD
- 7.06%
- 6M
- 7.93%
- 1Y
- 36.06%
- 3Y*
- 11.84%
- 5Y*
- 5.86%
- 10Y*
- 5.35%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BKH Monthly Returns History
Based on dividend-adjusted daily data since Sep 7, 1984, BKH's average daily return is +0.05%, while the average monthly return is +1.09%. At this rate, an investment would double in approximately 5.3 years.
Historically, 57% of months were positive and 43% were negative. The best month was Dec 2000 with a return of +31.1%, while the worst month was Feb 2009 at -31.7%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 7 months.
On a daily basis, BKH closed higher 48% of trading days. The best single day was Oct 13, 2008 with a return of +15.5%, while the worst single day was Mar 16, 2020 at -17.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.13% | 1.90% | -5.77% | 8.47% | -2.36% | 0.14% | 7.06% | ||||||
| 2025 | 0.36% | 5.37% | -0.87% | 0.41% | -2.87% | -4.05% | 2.99% | 4.66% | 2.98% | 2.99% | 17.47% | -5.92% | 23.93% |
| 2024 | -4.06% | 1.81% | 4.94% | 0.55% | 4.01% | -3.67% | 8.59% | 1.26% | 3.38% | -3.16% | 9.38% | -8.66% | 13.57% |
| 2023 | 2.90% | -14.32% | 2.75% | 3.47% | -5.73% | -1.13% | 0.12% | -7.81% | -8.02% | -4.43% | 7.99% | 4.57% | -19.95% |
| 2022 | -4.01% | 4.25% | 10.04% | -4.91% | 5.49% | -5.07% | 6.09% | -1.48% | -10.27% | -3.48% | 10.60% | -1.80% | 3.08% |
| 2021 | -3.79% | 0.99% | 12.86% | 3.31% | -3.82% | -0.24% | 3.08% | 4.78% | -10.76% | 5.77% | -2.53% | 10.06% | 18.86% |
Benchmark Metrics
Black Hills Corporation has an annualized alpha of 7.22%, beta of 0.61, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since September 07, 1984.
- This stock participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (76.52%) than losses (65.29%) - typical of diversified or defensive assets.
- Beta of 0.61 may look defensive, but with R2 of 0.20 this stock is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this stock's risk.
- R2 of 0.20 means this stock moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 7.22%
- Beta
- 0.61
- R²
- 0.20
- Upside Capture
- 76.52%
- Downside Capture
- 65.29%
Return for Risk
Risk / Return Rank
BKH ranks 84 for risk / return — in the top 84% of stocks on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Black Hills Corporation (BKH) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BKH | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 2.78 | +0.53 |
| Martin ratioReturn relative to average drawdown | 10.11 | 12.44 | -2.33 |
Dividends
Dividend History
Black Hills Corporation provided a 3.78% dividend yield over the last twelve months, with an annual payout of $2.76 per share. The company has been increasing its dividends for 27 consecutive years, earning it the status of a dividend aristocrat.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $2.76 | $2.70 | $2.60 | $2.50 | $2.41 | $2.29 | $2.17 | $2.05 | $1.93 | $1.81 | $1.68 | $1.62 |
Dividend yield | 3.78% | 3.90% | 4.44% | 4.63% | 3.43% | 3.25% | 3.53% | 2.61% | 3.07% | 3.01% | 2.74% | 3.49% |
Monthly Dividends
The table displays the monthly dividend distributions for Black Hills Corporation. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.70 | $0.00 | $0.00 | $0.70 | $0.00 | $1.41 | ||||||
| 2025 | $0.00 | $0.68 | $0.00 | $0.00 | $0.68 | $0.00 | $0.00 | $0.68 | $0.00 | $0.00 | $0.68 | $0.00 | $2.70 |
| 2024 | $0.00 | $0.65 | $0.00 | $0.00 | $0.65 | $0.00 | $0.00 | $0.65 | $0.00 | $0.00 | $0.65 | $0.00 | $2.60 |
| 2023 | $0.00 | $0.63 | $0.00 | $0.00 | $0.63 | $0.00 | $0.00 | $0.63 | $0.00 | $0.00 | $0.63 | $0.00 | $2.50 |
| 2022 | $0.00 | $0.60 | $0.00 | $0.00 | $0.60 | $0.00 | $0.00 | $0.60 | $0.00 | $0.00 | $0.63 | $0.00 | $2.41 |
| 2021 | $0.00 | $0.57 | $0.00 | $0.00 | $0.57 | $0.00 | $0.00 | $0.57 | $0.00 | $0.00 | $0.60 | $0.00 | $2.29 |
Dividend Yield & Payout
Dividend Yield
Black Hills Corporation has a dividend yield of 3.78%, which is quite average when compared to the overall market.
Payout Ratio
Black Hills Corporation has a payout ratio of 96.20%, which is above the market average. This might signify the company's strong earnings or financial health. However, it could also hint at a more mature business phase with potentially slower growth.
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Black Hills Corporation. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Black Hills Corporation was 65.72%, occurring on Mar 9, 2009. Recovery took 895 trading sessions.
The current Black Hills Corporation drawdown is 4.18%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -65.72%Mar 2009 | 7y 9mo | 3y 6mo | 11y 4moMay 2001 - Sep 2012 |
COVID crash2020 | -40.45%Mar 2020 | 28d | 2y 1mo | 2y 2moFeb 2020 - Apr 2022 |
1994 bear market1994 | -37.45%Jul 1994 | 2y 1mo | 1y 8mo | 3y 10moMay 1992 - Mar 1996 |
2023 bear market2023 | -36.98%Oct 2023 | 1y 1mo | 2y 1mo | 3y 2moAug 2022 - Nov 2025 |
2015 bear market2015 | -36.73%Sep 2015 | 1y 2mo | 6mo | 1y 8moJul 2014 - Mar 2016 |
Drawdown Indicators
| BKH | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.72% | -56.78% | -8.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.94% | -9.10% | -1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -21.24% | -18.90% | -2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -36.98% | -25.43% | -11.55% |
Max Drawdown (10Y)Largest decline over 10 years | -40.45% | -33.92% | -6.53% |
Current DrawdownCurrent decline from peak | -4.18% | -1.80% | -2.38% |
Average DrawdownAverage peak-to-trough decline | -16.19% | -10.71% | -5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 2.03% | +1.55% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Financials
Financial Performance
The chart below illustrates the trends in the financial health of Black Hills Corporation over time, highlighting three key metrics: Total Revenue, Earnings Before Interest and Taxes (EBIT), and Net Income.
Valuation
The Valuation section provides an overview of how Black Hills Corporation is priced in the market compared to other companies in the Utilities - Diversified industry. It includes key financial ratios that help investors assess whether the stock is undervalued or overvalued.
PE Ratio
The chart displays the Price-to-Earnings (P/E) ratio for BKH, comparing it with other companies in the Utilities - Diversified industry. Currently, BKH has a P/E ratio of 34.8. This P/E ratio is significantly higher than those of industry peers. This could indicate that the stock is overvalued or that investors expect strong future growth.
PEG Ratio
The chart shows the Price/Earnings to Growth (PEG) ratio for BKH compared to other companies in the Utilities - Diversified industry. BKH currently has a PEG ratio of 20.8. This PEG ratio is higher than the industry average, which may suggest the stock is overvalued relative to its expected earnings growth.
PS Ratio
This chart shows the Price-to-Sales (P/S) ratio for BKH relative to other companies in the Utilities - Diversified industry. Currently, BKH has a P/S ratio of 2.4. This P/S ratio falls within the average range for the industry, suggesting the stock is fairly valued based on its revenue.
Income Statement
| TTM | |
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Total Revenue | — |
Cost Of Revenue | — |
Gross Profit | — |
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Operating Income | — |
EBITDA | — |
EBIT | — |
Earnings From Continuing Operations | — |
Net Income | — |
Income Tax Expense | — |
Other Non-Operating Income (Expenses) | — |
Extraordinary Items | — |
Discontinued Operations | — |
Effect Of Accounting Charges | — |
Non Recurring | — |
Minority Interest | — |
Other Items | — |
Interest Income | — |
Interest Expense | — |
Net Interest Income | — |
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