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FCF Margin for Black Hills (BKH)

As of · Reported

Metric

TTM

-13.7%

YoY change

−5.17pp

Trough year (2021)

-38.1%

Peak year (1996)

19.1%

FCF Margin history chart for Black Hills (BKH) from 1994 to 2025

Latest: -6.3%

FCF Margin change chart for Black Hills (BKH) from 1994 to 2025

Latest: −5.17pp

FCF Margin history table for Black Hills (BKH) from 1994 to 2025

  • 2025-6.3%-5.17pp
  • 2024-1.2%-17.85pp
  • 202316.7%+17.45pp
  • 2022-0.8%+37.30pp
  • 2021-38.1%-24.78pp
  • 2020-13.3%+4.74pp
  • 2019-18.0%-19.82pp
  • 20181.8%-4.30pp
  • 20176.1%+16.11pp
  • 2016-10.0%-7.85pp
  • 2015-2.2%+3.21pp
  • 2014-5.4%-3.02pp
  • 2013-2.4%+0.38pp
  • 2012-2.7%+14.32pp
  • 2011-17.1%+9.58pp
  • 2010-26.6%-20.62pp
  • 2009-6.0%+12.21pp
  • 2008-18.2%-16.61pp
  • 2007-1.6%+7.37pp
  • 2006-9.0%-14.89pp
  • 20055.9%-4.36pp
  • 200410.3%+3.84pp
  • 20036.4%+7.99pp
  • 2002-1.6%+25.68pp
  • 2001-27.3%-23.53pp
  • 2000-3.7%-0.12pp
  • 1999-3.6%-7.63pp
  • 19984.0%-4.80pp
  • 19978.8%-10.24pp
  • 199619.1%+21.00pp
  • 1995-1.9%+33.67pp
  • 1994-35.6%—

FCF Margin values are taken from Black Hills's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About FCF Margin at Black Hills (BKH)

According to Black Hills's latest reported financial statements, the company's latest reported free cash flow margin is -13.7%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

As of the 2025 fiscal year, Black Hills (BKH) reported free cash flow margin of -6.34% – contracted 5.2 percentage points year-over-year.

19.07% stands as the all-time-high annual free cash flow margin, posted in 1996, against a low of -38.07% during 2021.

Black Hills FCF Margin by Year

Black Hills FCF Margin 2025: -6.3%

Black Hills free cash flow margin in 2025 was -6.34%, contracted 5.2 percentage points from 2024.

Black Hills FCF Margin 2024: -1.2%

2024's free cash flow margin for Black Hills came in at -1.17%, contracted 17.8 percentage points from 2023.

Black Hills FCF Margin 2023: 16.7%

Black Hills posted free cash flow margin of 16.68% in 2023, expanded 17.4 percentage points from 2022.

Black Hills FCF Margin 2022: -0.8%

In 2022, Black Hills reported free cash flow margin of -0.77%, expanded 37.3 percentage points from 2021.

Black Hills FCF Margin 2021: -38.1%

Black Hills free cash flow margin in 2021 was -38.07%.

See more financial history for Black Hills (BKH).

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Utilities peers of Black Hills (BKH), ranked by their latest free cash flow margin

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