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Intrinsic value of Black Hills Corporation (BKH)

Previous Close$74.40
Intrinsic Value
Upside potential
Previous Close
$74.40
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh5.78 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 214,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers. This segment owns 939 megawatts of generation capacity and 8,900 miles of electric transmission and distribution lines. The Gas Utilities segment distributes natural gas to approximately 1,066,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming. It also provides appliance repair services to residential customers through company technicians and third-party service providers; and constructs and maintains gas infrastructure facilities for gas transportation customers. This segment owns and operates approximately 4,775 miles of intrastate gas transmission pipelines; 41,210 miles of gas distribution mains and service lines; 7 natural gas storage sites; and approximately 49,000 horsepower of compression and 500 miles of gathering lines. The Power Generation segment produces electric power through wind, natural gas, and coal generating plants; and sells the electric capacity and energy primarily to utilities under long-term contracts. The Mining segment produces coal at its coal mine located near Gillette, Wyoming; and sells the coal to electric generation facilities. Black Hills Corporation was founded in 1941 and is headquartered in Rapid City, South Dakota.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %14.9NaN
Revenue, $1949NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m1540NaN
Operating income, $m409NaN
EBITDA, $m645NaN
Interest expense (income), $mNaN
Earnings before tax, $m244NaN
Tax expense, $m7NaN
Net income, $m237NaN

BALANCE SHEET

Cash and short-term investments, $m14NaN
Total assets, $m9132NaN
Adjusted assets (=assets-cash), $m9118NaN
Average production assets, $m7547NaN
Working capital, $m-94NaN
Total debt, $m4547NaN
Total liabilities, $m6345NaN
Total equity, $m2787NaN
Debt-to-equity ratio1.632NaN
Adjusted equity ratio0.350NaN

CASH FLOW

Net income, $m237NaN
Depreciation, amort., depletion, $m236NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m-65NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-677NaN
Free cash flow, $m613NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-94
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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