Black Hills Corporation BKH NYSE

Black Hills Corporation (BKH) generated $673.4M in operating cash flow for fiscal year 2025. After capital expenditures of $819.8M, free cash flow was $-146.4M.

Free cash flow margin was -6.3% of revenue. Cash conversion ratio was 2.25x, indicating earnings are backed by cash.

The company returned $197.9M in dividends to shareholders during the period.

Criteria supported by this page:

• HEALTH (33/100, Fail) — weak cash flow raises concerns about debt servicing
• MOAT (60/100, Partial) — cash flow generation is present but not at levels indicating a wide moat
• INCOME (55/100) — Cash conversion ratio was 2.25x confirms earnings are backed by real cash flow

Overall SharesGrow Score: 51/100 with 1/7 criteria passed.