Black Hills (BKH) Operating Margin (2009 - 2026)
Black Hills (BKH) reported Operating Margin of 21.42% for Q2 2026, up 2.63 percentage points from 18.79% a year earlier but down 4.44 percentage points from the prior quarter.
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Analysis
Black Hills (BKH) Operating Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Black Hills' Operating Margin came in at 23.88%, up 0.40 percentage points year-over-year; for FY2025, it came in at 23.27%, down 0.38 percentage points from FY2024.
- Operating Margin has a five-year change of -1.97 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 23.65% in FY2024 (+3.37 pp), 20.28% in FY2023 (+2.44 pp), 17.84% in FY2022 (-3.17 pp) and 21.00% in FY2021 (-4.24 pp).
- Five-year quarterly Operating Margin spans a low of 15.27% in Q2 2022 and a high of 27.35% in Q4 2024.
- Year over year, Operating Margin gained in four of the last eight quarters, with an average year-over-year change of +0.16 percentage points.
- The high point for year-over-year Operating Margin in five years was Q1 2024 (a gain of 7.62 percentage points); the low point was Q3 2022 (a drop of 6.43 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 25.86% (Q1 2026), 26.97% (Q4 2025) and 18.29% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enel Chile | 293.96 Bn | 293.96 Bn | 890.00 Mn | 30.20% |
| 2 | National Grid | 78.23 Bn | 59.76 Bn | - | - |
| 3 | Dominion Energy | 53.03 Bn | 55.71 Bn | - | 7.34% |
| 4 | Xcel Energy | 43.33 Bn | 38.23 Bn | - | 22.64% |
| 5 | Wec Energy | 33.06 Bn | 33.29 Bn | 1.51 Bn | 20.99% |
| 6 | Ameren | 27.51 Bn | 27.60 Bn | - | 21.94% |
| 7 | Fortis | 26.94 Bn | 27.43 Bn | 1.60 Bn | 27.43% |
| 8 | Atmos Energy | 26.53 Bn | 25.30 Bn | 870.85 Mn | 36.45% |
| 9 | American Water Works Company | 25.62 Bn | 25.03 Bn | - | 40.00% |
| 10 | Black Hills | 5.32 Bn | 5.02 Bn | - | 21.42% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.42% |
| Mar 31, 2026 | 25.86% |
| Dec 31, 2025 | 26.97% |
| Sep 30, 2025 | 18.29% |
| Jun 30, 2025 | 18.79% |
| Mar 31, 2025 | 25.46% |
| Dec 31, 2024 | 27.35% |
| Sep 30, 2024 | 18.87% |
| Jun 30, 2024 | 17.54% |
| Mar 31, 2024 | 26.61% |
| Dec 31, 2023 | 23.07% |
| Sep 30, 2023 | 24.02% |
| Jun 30, 2023 | 15.44% |
| Mar 31, 2023 | 18.99% |
| Dec 31, 2022 | 16.42% |
| Sep 30, 2022 | 17.18% |
| Jun 30, 2022 | 15.27% |
| Mar 31, 2022 | 21.05% |
| Dec 31, 2021 | 20.26% |
| Sep 30, 2021 | 23.61% |
API Access
Black Hills Operating Margin 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-margin&ticker=BKH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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-margin&ticker=BKH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();