Black Hills Corporation

Black Hills Corporation

BKHยทNYSE

$71.90

+0.60%
UtilitiesDiversified Utilities

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines. The Gas Utilities segment distributes natural gas to approximately 1,094,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; owns and operates 4,732 miles of intrastate gas transmission pipelines; 41,644 miles of gas distribution mains and service lines; six natural gas storage sites; and approximately 50,000 horsepower of compression and 515 miles of gathering lines. The company also constructs and maintains gas infrastructure facilities for gas transportation customers; and provides appliance repair services to residential utility customers, as well as electrical system construction services to large industrial customers. In addition, it produces electric power through wind, natural gas, and coal-fired generating plants; and coal at its coal mine located near Gillette, Wyoming. The company was incorporated in 1941 and is headquartered in Rapid City, South Dakota.

At a Glance

Live Snapshot
Market Cap$5.47B
EPS3.9900
P/E Ratio18.02
Earnings Date07/29/2026
Black Hills Corporation

Black Hills Corporation Fair Value Envelope

BKH ยท NYSE

Our analysis suggests that BKH has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $71.9, this represents a potential HIDDEN relative to our calculated worth for Black Hills Corporation.

Intrinsic Value
Current Price: $71.9

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$442.9M
+ Cash & Equivalents$182.8M
Firm Value$625.7M
- Debt$4.7B
Equity Value-$4.1B
/ Shares Outstanding72,125,738B
DCF Value-$57
OVERVALUED BY 179%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$336.7M
$168.4M
$84.2M
$42.1M
$21.0M
$10.5M
$5.3M
$2.6M
$1.3M
$657.6K
Maintenance CapEx
-$82.0M
-$41.0M
-$20.5M
-$10.2M
-$5.1M
-$2.6M
-$1.3M
-$640.5K
-$320.2K
-$160.1K
Owner Earnings
$254.7M
$127.4M
$63.7M
$31.8M
$15.9M
$8.0M
$4.0M
$2.0M
$995.0K
$497.5K
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$235.9M
$109.2M
$50.6M
$23.4M
$10.8M
$5.0M
$2.3M
$1.1M
$497.7K
$230.4K
Terminal Value represents 0.9% of Enterprise Value