Black Hills (BKH) Operating Expenses (2009 - 2026)
Black Hills' Operating Expenses was $355.8 million in Q2 2026, down 0.2% from $356.5 million a year earlier and down 38.5% from the prior quarter.
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Analysis
Black Hills (BKH) Operating Expenses (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Black Hills' Operating Expenses was $1.75 billion through Jun 30, 2026, up 2.0% year-over-year; for FY2025, it was $1.77 billion, up 9.1% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of 6.9% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $1.62 billion in FY2024 (-12.6%), $1.86 billion in FY2023 (-11.4%), $2.1 billion in FY2022 (+36.2%) and $1.54 billion in FY2021 (+21.4%).
- Quarterly Operating Expenses has moved between $290.72 million (Q3 2021) and $746.3 million (Q1 2023) over five years.
- Compared with a year earlier, Operating Expenses was higher in five of the last eight quarters, with growth averaging 4.0%.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2022 (growth of 47.5%); the worst was Q4 2023 (a decline of 31.2%).
- Per Business Quant data, BKH's Operating Expenses in the three quarters before Q2 2026 was $578.8 million (Q1 2026), $464.1 million (Q4 2025) and $351.5 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 293.96 Bn | 293.96 Bn | 890.00 Mn | -140.00 Mn |
| 2 | National Grid | 78.23 Bn | 59.76 Bn | - | - |
| 3 | Dominion Energy | 53.03 Bn | 55.71 Bn | - | 4.15 Bn |
| 4 | Xcel Energy | 43.33 Bn | 38.23 Bn | - | 2.41 Bn |
| 5 | Wec Energy | 33.06 Bn | 33.29 Bn | 1.51 Bn | 1.63 Bn |
| 6 | Ameren | 27.51 Bn | 27.60 Bn | - | 1.63 Bn |
| 7 | Fortis | 26.94 Bn | 27.43 Bn | 1.60 Bn | 626.05 Mn |
| 8 | Atmos Energy | 26.53 Bn | 25.30 Bn | 870.85 Mn | - |
| 9 | American Water Works Company | 25.62 Bn | 25.03 Bn | - | 813.00 Mn |
| 10 | Black Hills | 5.32 Bn | 5.02 Bn | - | 355.80 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 355.80 Mn |
| Mar 31, 2026 | 578.80 Mn |
| Dec 31, 2025 | 464.10 Mn |
| Sep 30, 2025 | 351.50 Mn |
| Jun 30, 2025 | 356.50 Mn |
| Mar 31, 2025 | 600.20 Mn |
| Dec 31, 2024 | 433.80 Mn |
| Sep 30, 2024 | 325.80 Mn |
| Jun 30, 2024 | 332.00 Mn |
| Mar 31, 2024 | 533.10 Mn |
| Dec 31, 2023 | 455.20 Mn |
| Sep 30, 2023 | 309.30 Mn |
| Jun 30, 2023 | 347.80 Mn |
| Mar 31, 2023 | 746.30 Mn |
| Dec 31, 2022 | 661.44 Mn |
| Sep 30, 2022 | 383.13 Mn |
| Jun 30, 2022 | 401.81 Mn |
| Mar 31, 2022 | 650.22 Mn |
| Dec 31, 2021 | 448.56 Mn |
| Sep 30, 2021 | 290.72 Mn |
API Access
Black Hills Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=BKH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "BKH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=BKH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();