Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.54B | $1.68B | $1.75B | $1.73B | $1.68B | $1.93B | $2.54B | $2.30B | $2.10B | $2.29B |
| Revenue growth | — | 9.2% | 4.1% | -1.3% | -2.6% | 14.9% | 31.7% | -9.5% | -8.8% | 9.0% |
| Operating income | $336M | $417M | $397M | $406M | $428M | $409M | $455M | $473M | $503M | $538M |
| Operating margin | 21.8% | 24.8% | 22.7% | 23.5% | 25.5% | 21.2% | 17.9% | 20.5% | 24.0% | 23.5% |
| Net income | $73.0M | $177M | $258M | $199M | $228M | $237M | $258M | $262M | $273M | $292M |
| Net margin | 4.7% | 10.5% | 14.8% | 11.5% | 13.5% | 12.3% | 10.2% | 11.4% | 13.0% | 12.8% |
| EPS (diluted) | $1.37 | $3.21 | $4.66 | $3.28 | $3.65 | $3.74 | $3.97 | $3.91 | $3.91 | $3.98 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $320M | $428M | $489M | $506M | $542M | -$64.6M | $585M | $944M | $719M | $673M |
| Capital expenditures | $455M | $326M | $458M | $818M | $767M | $678M | $604M | $556M | $744M | $820M |
| Free cash flow | -$134M | $102M | $31.3M | -$313M | -$226M | -$742M | -$19.6M | $389M | -$24.9M | -$146M |
| Dividends paid | $87.6M | $96.7M | $107M | $125M | $135M | $145M | $157M | $168M | $182M | $198M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $13.5M | $15.4M | $20.8M | $9.78M | $6.36M | $8.92M | $21.4M | $86.6M | $16.1M | $183M |
| Total assets | $6.54B | $6.66B | $6.96B | $7.56B | $8.09B | $9.13B | $9.62B | $9.62B | $10.0B | $10.9B |
| Long-term debt | $3.21B | $3.11B | $2.95B | $3.14B | $3.53B | $4.13B | $3.61B | $3.80B | $4.25B | $4.70B |
| Shareholders' equity | $1.61B | $1.71B | $2.18B | $2.36B | $2.56B | $2.79B | $2.99B | $3.22B | $3.50B | $3.82B |
| Retained earnings | $458M | $549M | $700M | $779M | $871M | $962M | $1.06B | $1.16B | $1.25B | $1.34B |
| Shares (wtd avg diluted) | 53.3M | 55.1M | 55.5M | 60.8M | 62.4M | 63.3M | 73.2M | 67.1M | 69.9M | 73.2M |
Every figure is extracted from BLACK HILLS CORP /SD/’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.