BKH PEER ANALYSIS

Black Hills Corporation — metric-by-metric comparison with peers and the industry median

BKHBlack Hills Corporation

🇺🇸 USA · NYSE · Utilities · Utilities - Regulated Gas

Value it Duel

Overall Profile & Returns

· Utilities - Regulated Gas

Position Within Industry

0 = weak quartile, 100 = strong quartile

BKHIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	BKH	ENG	APA	AHGAZ	ENERY	NTGY	Ind. Median
P/E	19.20	16.87	79.05	21.36	14.76	12.85●	17.36
P/B	1.40	1.97	4.62	1.06●	1.18	3.18	1.45
EV/EBITDA	12.25	9.09	12.41	3.07●	7.71	—	10.94
P/S	2.42	4.54	4.04	1.79	2.06	1.30●	2.12

Financial Health
Metric	BKH	ENG	APA	AHGAZ	ENERY	NTGY	Ind. Median
Current Ratio	0.65	0.81	0.99	1.03	0.66	1.13●	0.80
Debt/Equity	118.0%	119.4%	478.5%	9.6%	4.6%●	—	109.5%
NetDebt/EBITDA	5.57	2.93	6.27	-2.09●	-0.51	—	4.23

Profitability
Metric	BKH	ENG	APA	AHGAZ	ENERY	NTGY	Ind. Median
Net Margin	12.6%	26.9%●	5.1%	8.4%	14.0%	10.1%	11.8%
ROE	7.6%	11.7%	5.8%	6.5%	10.5%	25.1%●	10.0%
ROA	2.8%	3.8%	0.8%	2.4%	6.4%●	5.1%	3.8%
EBITDA Margin	36.3%	73.6%●	65.8%	34.8%	25.1%	26.7%	34.8%

Growth + Dividend
Metric	BKH	ENG	APA	AHGAZ	ENERY	NTGY	Ind. Median
Rev. Growth	3.6%	8.0%	0.1%	41.3%●	38.2%	-0.7%	4.5%
NI Growth	3.1%	—	—	72.1%●	62.5%	1.4%	18.9%
Div. Yield	3.7%	0.0%	5.8%●	0.0%	0.0%	5.5%	3.5%
Payout	70.2%	0.1%	305.6%	0.0%	0.0%	70.1%	56.7%

Valuation
Metric	BKH	NJR	BIPC	OGS	SWX	SR	Ind. Median
P/E	19.20	17.08	—	17.99	14.24	13.82●	17.36
P/B	1.40	2.20	-3.56●	1.40	1.61	1.40	1.45
EV/EBITDA	12.25	12.42	5.23●	10.57	10.21	14.01	10.94
P/S	2.42	2.64	1.43●	2.12	2.64	1.89	2.12

Financial Health
Metric	BKH	NJR	BIPC	OGS	SWX	SR	Ind. Median
Current Ratio	0.65	0.94	0.40	0.57	1.45●	0.55	0.80
Debt/Equity	118.0%	142.1%	-920.7%●	95.9%	85.5%	232.8%	109.5%
NetDebt/EBITDA	5.57	4.77	3.72	4.29	3.21●	8.72	4.23

Profitability
Metric	BKH	NJR	BIPC	OGS	SWX	SR	Ind. Median
Net Margin	12.6%	15.4%	-20.5%	11.8%	18.5%●	14.1%	11.8%
ROE	7.6%	13.3%●	—	8.2%	12.1%	10.3%	10.0%
ROA	2.8%	4.5%●	-3.2%	3.2%	4.1%	2.8%	3.8%
EBITDA Margin	36.3%	34.5%	94.8%●	33.7%	37.7%	35.7%	34.8%

Growth + Dividend
Metric	BKH	NJR	BIPC	OGS	SWX	SR	Ind. Median
Rev. Growth	3.6%	8.5%●	-1.0%	2.8%	-39.1%	4.5%	4.5%
NI Growth	3.1%	-17.8%	—	12.6%	106.4%●	42.1%	18.9%
Div. Yield	3.7%	3.3%	4.7%●	3.5%	2.8%	4.1%	3.5%
Payout	70.2%	54.4%	-120.2%	59.7%	38.5%	56.7%	56.7%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.