Black Hills (BKH) Operating Margin (2009 - 2026)

Black Hills (BKH) has reported Operating Margin for 18 consecutive years, with 21.42% the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Margin rose 263.0% year-over-year to 21.42% in Q2 2026; TTM through Jun 2026 was 23.88%, a 40.0% increase from a year earlier, with the FY2025 full-year figure at 23.27%, down 38.0% from the prior year.
• Operating Margin was 21.42% for Q2 2026 at Black Hills, down from 25.86% in the prior quarter.
• Over five years, Operating Margin peaked at 27.35% in Q4 2024 and troughed at 15.27% in Q2 2022.
• A 5-year average of 21.03% and a median of 20.02% in 2022 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin tumbled 643 bps in 2022 and jumped 762 bps in 2024, its largest moves.
• Over 5 years, Operating Margin stood at 16.42% in 2022, then jumped by 40 bps to 23.07% in 2023, then advanced by 19 bps to 27.35% in 2024, then slipped by 1 bps to 26.97% in 2025, then slipped by 21 bps to 21.42% in 2026.
• The last three Operating Margin figures came in at 21.42% (Q2 2026), 25.86% (Q1 2026), and 26.97% (Q4 2025), per Business Quant data.