Black Hills (BKH) Debt to Equity (2009 - 2026)
Black Hills (BKH) recorded quarterly Debt to Equity of $1.05 in Q1 2026, down 14.27% quarter-over-quarter from $1.23 in Q4 2025, and down 2.33% on a YoY basis from $1.08 in Q1 2025.
Black Hills (BKH) Debt to Equity (2009 - 2026) Analysis & Trends
Black Hills' Debt to Equity history runs 18 years deep, the most recent figure standing at $1.05 for Q1 2026.
- In Q1 2026, Debt to Equity fell 2.33% year-over-year to $1.05; the TTM figure through Mar 2026 stood at $1.05 (down 2.33% YoY), while the FY2025 annual figure was $1.23, up 0.55% from the prior year.
- Debt to Equity was $1.05 for Q1 2026 at Black Hills, down from $1.23 in the prior quarter.
- In the past five years, Debt to Equity ranged from a high of $1.55 in Q3 2022 to a low of $1.05 in Q1 2026.
- Historically, Debt to Equity has averaged $1.26 across 5 years, with a median of $1.23 in 2024.
- The sharpest annual moves came in 2022 and 2024: Debt to Equity rose 5.28% in 2022, then fell 20.05% in 2024.
- A 5-year view of Debt to Equity shows it stood at $1.34 in 2022, then slipped by 0.7% to $1.33 in 2023, then decreased by 8.15% to $1.22 in 2024, then increased by 0.55% to $1.23 in 2025, then retreated by 14.27% to $1.05 in 2026.
- The last three Debt to Equity figures came in at $1.05 (Q1 2026), $1.23 (Q4 2025), and $1.14 (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt/Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.34 Bn | 28.21 Bn | - | 0.64 |
| 2 | Nisource | 22.33 Bn | 24.52 Bn | 1.83 Bn | 1.40 |
| 3 | Ugi | 7.49 Bn | 6.94 Bn | 1.50 Bn | 1.25 |
| 4 | New Jersey Resources | 5.59 Bn | 5.45 Bn | 826.91 Mn | 1.30 |
| 5 | Black Hills | 5.49 Bn | 5.46 Bn | - | 1.05 |
| 6 | ONE Gas | 4.93 Bn | 4.91 Bn | 438.14 Mn | 0.68 |
| 7 | Mdu Resources | 4.39 Bn | 4.33 Bn | - | 0.89 |
| 8 | Centuri Holdings | 3.01 Bn | 2.95 Bn | 35.76 Mn | 0.74 |
| 9 | Chesapeake Utilities | 2.96 Bn | 2.96 Bn | 102.40 Mn | 0.12 |
| 10 | Brookfield Infrastructure | 426.14 Mn | 3.22 Bn | 539.00 Mn | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.05 |
| Dec 31, 2025 | 1.23 |
| Sep 30, 2025 | 1.14 |
| Jun 30, 2025 | 1.10 |
| Mar 31, 2025 | 1.08 |
| Dec 31, 2024 | 1.22 |
| Sep 30, 2024 | 1.21 |
| Jun 30, 2024 | 1.23 |
| Mar 31, 2024 | 1.11 |
| Dec 31, 2023 | 1.33 |
| Sep 30, 2023 | 1.51 |
| Jun 30, 2023 | 1.24 |
| Mar 31, 2023 | 1.24 |
| Dec 31, 2022 | 1.34 |
| Sep 30, 2022 | 1.55 |
| Jun 30, 2022 | 1.39 |
| Mar 31, 2022 | 1.39 |
| Dec 31, 2021 | 1.43 |
| Sep 30, 2021 | 1.47 |
| Jun 30, 2021 | 1.58 |