TTM
35.7%
YoY change
−1.03pp
Trough year (2000)
15.5%
Peak year (2004)
81.4%
Latest annual
38.5%
Gross Margin history chart for Black Hills (BKH) from 1994 to 2025
Latest: 38.5%
Gross Margin change chart for Black Hills (BKH) from 1994 to 2025
Latest: −1.03pp
Gross Margin history table for Black Hills (BKH) from 1994 to 2025
| 2025 | 38.5% | -1.03pp | ||
| 2024 | 39.5% | +5.34pp | ||
| 2023 | 34.2% | +3.88pp | ||
| 2022 | 30.3% | -5.91pp | ||
| 2021 | 36.2% | -5.59pp | ||
| 2020 | 41.8% | +3.28pp | ||
| 2019 | 38.5% | +1.63pp | ||
| 2018 | 36.9% | -2.54pp | ||
| 2017 | 39.4% | -0.42pp | ||
| 2016 | 39.8% | +1.74pp | ||
| 2015 | 38.1% | +5.62pp | ||
| 2014 | 32.5% | -1.85pp | ||
| 2013 | 34.3% | -3.03pp | ||
| 2012 | 37.4% | +9.36pp | ||
| 2011 | 28.0% | -25.51pp | ||
| 2010 | 53.5% | +4.93pp | ||
| 2009 | 48.6% | -6.70pp | ||
| 2008 | 55.3% | -16.71pp | ||
| 2007 | 72.0% | +7.31pp | ||
| 2006 | 64.7% | -4.39pp | ||
| 2005 | 69.1% | -12.32pp | ||
| 2004 | 81.4% | +38.86pp | ||
| 2003 | 42.5% | +6.48pp | ||
| 2002 | 36.0% | -12.05pp | ||
| 2001 | 48.1% | +32.58pp | ||
| 2000 | 15.5% | -4.00pp | ||
| 1999 | 19.5% | -2.24pp | ||
| 1998 | 21.8% | -21.79pp | ||
| 1997 | 43.5% | -35.42pp | ||
| 1996 | 79.0% | +5.18pp | ||
| 1995 | 73.8% | +2.65pp | ||
| 1994 | 71.1% | — |
- 202538.5%-1.03pp
- 202439.5%+5.34pp
- 202334.2%+3.88pp
- 202230.3%-5.91pp
- 202136.2%-5.59pp
- 202041.8%+3.28pp
- 201938.5%+1.63pp
- 201836.9%-2.54pp
- 201739.4%-0.42pp
- 201639.8%+1.74pp
- 201538.1%+5.62pp
- 201432.5%-1.85pp
- 201334.3%-3.03pp
- 201237.4%+9.36pp
- 201128.0%-25.51pp
- 201053.5%+4.93pp
- 200948.6%-6.70pp
- 200855.3%-16.71pp
- 200772.0%+7.31pp
- 200664.7%-4.39pp
- 200569.1%-12.32pp
- 200481.4%+38.86pp
- 200342.5%+6.48pp
- 200236.0%-12.05pp
- 200148.1%+32.58pp
- 200015.5%-4.00pp
- 199919.5%-2.24pp
- 199821.8%-21.79pp
- 199743.5%-35.42pp
- 199679.0%+5.18pp
- 199573.8%+2.65pp
- 199471.1%—
Gross 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 Gross Margin at Black Hills (BKH)
According to Black Hills's latest reported financial statements, the company's latest reported gross margin is 35.7%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual gross margin for Black Hills (BKH) came in at 38.47% – contracted 1.0 percentage points year-over-year.
2004 marks the peak gross margin at 81.39%, with the historical low of 15.52% recorded in 2000.
Black Hills Gross Margin by Year
Black Hills Gross Margin 2025: 38.5%
In 2025, Black Hills reported gross margin of 38.47%, contracted 1.0 percentage points from 2024.
Black Hills Gross Margin 2024: 39.5%
Black Hills gross margin in 2024 was 39.50%, expanded 5.3 percentage points from 2023.
Black Hills Gross Margin 2023: 34.2%
2023's gross margin for Black Hills came in at 34.16%, expanded 3.9 percentage points from 2022.
Black Hills Gross Margin 2022: 30.3%
Black Hills posted gross margin of 30.28% in 2022, contracted 5.9 percentage points from 2021.
Black Hills Gross Margin 2021: 36.2%
Black Hills gross margin in 2021 was 36.20%.
See more financial history for Black Hills (BKH).
Sector peers by Gross Margin
Utilities peers of Black Hills (BKH), ranked by their latest gross margin
Frequently asked questions
Black Hills (BKH) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation