BKH BLACK HILLS CORP /SD/
FY2025 10-K
BLACK HILLS CORP /SD/ (BKH) filed its fiscal year 2025 10-K annual report with the SEC on Feb 11, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Regulated utility operations providing electric and natural gas services in multiple US states
- • New emphasis: Pending all-stock merger agreement with NorthWestern to create a larger utility serving 0.7 million electric and 1.5 million gas customers
Management Discussion & Analysis
- • Revenue Electric Utilities $942.8M (+$66.7M YoY), Gas Utilities $1,382.8M (+$113.4M YoY), total operating income $537.5M (+$34.4M YoY)
- • Operating margin Electric Utilities 23.6% ($222.5M/ $942.8M) vs 26.6% (233.0M/876.1M), Gas Utilities 23.2% (320.8M/1,382.8M) vs 21.4% (271.3M/1,269.4M)
Risk Factors
- • Risk of significant income tax expense changes from IRS or state tax audits impacting deferred tax assets valuation
- • Potential earnings volatility from adjustments to deferred tax assets due to tax law changes or interpretations
Financial SummaryXBRL
Revenue
$2.3B
Net Income
$292M
Operating Margin
23.5%
Net Margin
12.8%
ROE
7.6%
Total Assets
$10.9B
EPS (Diluted)
$3.98
Operating Cash Flow
$673M
Source: XBRL data from BLACK HILLS CORP /SD/ FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on BLACK HILLS CORP /SD/
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.