BKH Valuation

Black Hills Corp

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70.070

+0.08(0.114%)1D

BKH Relative Valuation

BKH's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, BKH is overvalued; if below, it's undervalued.

Historical Valuation

Black Hills Corp (BKH) is now in the Fair zone, suggesting that its current forward PE ratio of 15.58 is considered Fairly compared with the five-year average of 15.82. The fair price of Black Hills Corp (BKH) is between 68.29 to 82.54 according to relative valuation methord.

Relative Value

Fair Zone

68.29-82.54

Current Price：70.07

Fair

15.58

Trailing

Forward

10.15

EV/EBITDA

Black Hills Corp. (BKH) has a current EV/EBITDA of 10.15. The 5-year average EV/EBITDA is 11.04. The thresholds are as follows: Strongly Undervalued below 8.05, Undervalued between 8.05 and 9.55, Fairly Valued between 12.54 and 9.55, Overvalued between 12.54 and 14.03, and Strongly Overvalued above 14.03. The current Forward EV/EBITDA of 10.15 falls within the Historic Trend Line -Fairly Valued range.

15.18

EV/EBIT

Black Hills Corp. (BKH) has a current EV/EBIT of 15.18. The 5-year average EV/EBIT is 16.18. The thresholds are as follows: Strongly Undervalued below 11.67, Undervalued between 11.67 and 13.92, Fairly Valued between 18.43 and 13.92, Overvalued between 18.43 and 20.68, and Strongly Overvalued above 20.68. The current Forward EV/EBIT of 15.18 falls within the Historic Trend Line -Fairly Valued range.

2.06

Black Hills Corp. (BKH) has a current PS of 2.06. The 5-year average PS is 1.89. The thresholds are as follows: Strongly Undervalued below 1.25, Undervalued between 1.25 and 1.57, Fairly Valued between 2.20 and 1.57, Overvalued between 2.20 and 2.52, and Strongly Overvalued above 2.52. The current Forward PS of 2.06 falls within the Historic Trend Line -Fairly Valued range.

7.54

P/OCF

Black Hills Corp. (BKH) has a current P/OCF of 7.54. The 5-year average P/OCF is 9.62. The thresholds are as follows: Strongly Undervalued below -26.36, Undervalued between -26.36 and -8.37, Fairly Valued between 27.61 and -8.37, Overvalued between 27.61 and 45.60, and Strongly Overvalued above 45.60. The current Forward P/OCF of 7.54 falls within the Historic Trend Line -Fairly Valued range.

0.00

P/FCF

Black Hills Corp. (BKH) has a current P/FCF of 0.00. The 5-year average P/FCF is 225.56. The thresholds are as follows: Strongly Undervalued below -1711.49, Undervalued between -1711.49 and -742.97, Fairly Valued between 1194.08 and -742.97, Overvalued between 1194.08 and 2162.61, and Strongly Overvalued above 2162.61. The current Forward P/FCF of 0.00 falls within the Historic Trend Line -Fairly Valued range.

Black Hills Corp (BKH) has a current Price-to-Book (P/B) ratio of 1.40. Compared to its 3-year average P/B ratio of 1.23 , the current P/B ratio is approximately 13.86% higher. Relative to its 5-year average P/B ratio of 1.38, the current P/B ratio is about 1.55% higher. Black Hills Corp (BKH) has a Forward Free Cash Flow (FCF) yield of approximately 0.00%. Compared to its 3-year average FCF yield of 2.83%, the current FCF yield is approximately -100.00% lower. Relative to its 5-year average FCF yield of -2.42% , the current FCF yield is about -100.00% lower.

1.40

P/B

Median3y

1.23

Median5y

1.38

-2.00

FCF Yield

Median3y

2.83

Median5y

-2.42

Competitors Valuation Multiple

The average P/S ratio for BKH's competitors is , providing a benchmark for relative valuation. Black Hills Corp Corp (BKH) exhibits a P/S ratio of , which is NaN% above the industry average. Given its robust revenue growth of 7.12%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

Southwest Gas Holdings Inc

New Jersey Resources Corp

MDU Resources Group Inc

Loss

8.75%

4.19B

Performance Decomposition

Market capitalization of BKH increased by 10.62% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 15.87 to 17.75.

The secondary factor is the Revenue Growth, contributed 7.12%to the performance.

Overall, the performance of BKH in the past 1 year is driven by P/E Change. Which is more unsustainable.

7.12%

401.60M → 430.20M

Revenue Growth

-8.37%

6.57 → 6.02

Margin Expansion

11.87%

15.87 → 17.75

P/E Change

10.62%