SuperworthBlack Hills profit margin BKH
Gross, operating and net profit as a share of revenue over the last twelve months, from 2010.
- Net margin, 12 months
- 13.0%
- Operating margin, 12 months
- 23.9%
- Net margin on a year earlier
- +0.3 pts
- Peer median
- 11.8%
Over the twelve months to Jun 30, 2026, Black Hills kept 13.0% of its revenue as net profit, with an operating margin of 23.9%.
Five years earlier its net margin was 12.8%.
The median for 10 electric utilities of a similar size is 11.8%.
Profit margin over time
Fiscal year by fiscal year
| Fiscal year | Net margin | Operating margin |
|---|---|---|
| FY2025 | 12.6% | 23.3% |
| FY2024 | 12.8% | 23.6% |
| FY2023 | 11.2% | 20.3% |
| FY2022 | 10.1% | 17.8% |
| FY2021 | 12.1% | 21.0% |
| FY2020 | 13.4% | 25.2% |
| FY2019 | 11.5% | 23.4% |
| FY2018 | 14.7% | 22.6% |
| FY2017 | 10.5% | 24.8% |
| FY2016 | 4.7% | 21.8% |
| FY2015 | −2.5% | 2.3% |
| FY2014 | 9.4% | 18.9% |
| FY2013 | 9.2% | 20.3% |
| FY2012 | 6.9% | 20.8% |
| FY2011 | 3.9% | 14.6% |
Quarter by quarter
| Quarter | Ended | Net margin, 12 months | Change on a year | Operating margin |
|---|---|---|---|---|
| Q2 FY26 | 13.0% | +0.3 pts | 23.9% | |
| Q1 FY26 | 12.6% | −0.1 pts | 23.4% | |
| Q4 FY25 | 12.6% | −0.2 pts | 23.3% | |
| Q3 FY25 | 12.5% | +0.5 pts | 23.3% | |
| Q2 FY25 | 12.7% | −0.3 pts | 23.5% | |
| Q1 FY25 | 12.7% | −0.2 pts | 23.3% | |
| Q4 FY24 | 12.8% | +1.6 pts | 23.6% | |
| Q3 FY24 | 12.0% | +1.9 pts | 22.4% | |
| Q2 FY24 | 13.0% | +3.5 pts | 23.4% | |
| Q1 FY24 | 12.9% | +3.3 pts | 23.0% | |
| Q4 FY23 | 11.2% | +1.1 pts | 20.3% | |
| Q3 FY23 | 10.1% | −1.0 pts | 18.4% |
Against its peers
Companies in Regulated Electric nearest Black Hills' size, closest first, today.
| Company | Profit margin |
|---|---|
| BKHBlack Hills | 13.0% |
| TXNMTXNM Energy | 8.8% |
| ORAOrmat Technologies | 10.7% |
| PORPortland General Electric | n/m |
| NWENorthWestern Energy | 10.1% |
| IDAIdacorp | 18.8% |
| OTTROtter Tail | 14.8% |
| OGEOGE Energy | 14.4% |
| AVAAvista | 11.8% |
| PNWPinnacle West Capital | 11.5% |
| LNTAlliant Energy | 18.4% |
| Peer median | 11.8% |
Where Black Hills ranks
What the profit margin tells you
Profit as a share of revenue at three levels: gross (after making the product), operating (after running the business) and net (after everything, including tax and interest).
Compare within an industry. 10% is superb for a retailer and poor for a software company.
More on Black Hills
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.