Black Hills annual ebitda margin
2008
2009
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2015
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2021
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2023
2024
2025
Black Hills EBITDA Margin Growth & History (BKH)
Black Hills's ebitda margin was 35.92% for fiscal 2025.
View full Black Hills company overviewBlack Hills annual ebitda margin history
| Fiscal year | Period ended | EBITDA margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 35.92% | −0.93 pp |
| 2024 | 2024-12-31 | 36.85% | +5.16 pp |
| 2023 | 2023-12-31 | 31.69% | +3.93 pp |
| 2022 | 2022-12-31 | 27.77% | −5.66 pp |
| 2021 | 2021-12-31 | 33.42% | −5.41 pp |
| 2020 | 2020-12-31 | 38.84% | +3.20 pp |
| 2019 | 2019-12-31 | 35.63% | +1.70 pp |
| 2018 | 2018-12-31 | 33.93% | −2.07 pp |
| 2017 | 2017-12-31 | 36.01% | +2.75 pp |
| 2016 | 2016-12-31 | 33.25% | −0.60 pp |
| 2015 | 2015-12-31 | 33.85% | +4.53 pp |
| 2014 | 2014-12-31 | 29.32% | −1.78 pp |
| 2013 | 2013-12-31 | 31.10% | −4.88 pp |
| 2012 | 2012-12-31 | 35.98% | +10.68 pp |
| 2011 | 2011-12-31 | 25.30% | +1.58 pp |
| 2010 | 2010-12-31 | 23.72% | +4.41 pp |
| 2009 | 2009-12-31 | 19.31% | +3.08 pp |
| 2008 | 2008-12-31 | 16.22% | — |
Black Hills quarterly ebitda margin
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Q3.09
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Q3.11
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Q2.23
Q3.23
Q4.23
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Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | EBITDA margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 39.11% | +4.15 pp |
| Q1 2026 | 2026-03-31 | 36.31% | +2.05 pp |
| Q4 2025 | 2025-12-31 | 39.28% | −0.32 pp |
| Q3 2025 | 2025-09-30 | 35.14% | −1.26 pp |
| Q2 2025 | 2025-06-30 | 34.96% | +0.40 pp |
| Q1 2025 | 2025-03-31 | 34.26% | −1.88 pp |
| Q4 2024 | 2024-12-31 | 39.60% | +5.02 pp |
| Q3 2024 | 2024-09-30 | 36.40% | −4.26 pp |
| Q2 2024 | 2024-06-30 | 34.55% | +2.90 pp |
| Q1 2024 | 2024-03-31 | 36.14% | +10.21 pp |
| Q4 2023 | 2023-12-31 | 34.58% | +10.24 pp |
| Q3 2023 | 2023-09-30 | 40.66% | +9.52 pp |
| Q2 2023 | 2023-06-30 | 31.65% | +2.62 pp |
| Q1 2023 | 2023-03-31 | 25.93% | −2.52 pp |
| Q4 2022 | 2022-12-31 | 24.34% | −7.28 pp |
| Q3 2022 | 2022-09-30 | 31.14% | −8.22 pp |
| Q2 2022 | 2022-06-30 | 29.03% | −5.09 pp |
| Q1 2022 | 2022-03-31 | 28.45% | −2.58 pp |
| Q4 2021 | 2021-12-31 | 31.62% | −5.92 pp |
| Q3 2021 | 2021-09-30 | 39.36% | −0.89 pp |
| Q2 2021 | 2021-06-30 | 34.12% | −4.00 pp |
| Q1 2021 | 2021-03-31 | 31.03% | −8.49 pp |
| Q4 2020 | 2020-12-31 | 37.54% | +0.70 pp |
| Q3 2020 | 2020-09-30 | 40.25% | +2.43 pp |
| Q2 2020 | 2020-06-30 | 38.12% | +6.10 pp |
| Q1 2020 | 2020-03-31 | 39.53% | +4.22 pp |
| Q4 2019 | 2019-12-31 | 36.84% | +4.10 pp |
| Q3 2019 | 2019-09-30 | 37.82% | +2.17 pp |
| Q2 2019 | 2019-06-30 | 32.02% | −1.53 pp |
| Q1 2019 | 2019-03-31 | 35.31% | +0.98 pp |
| Q4 2018 | 2018-12-31 | 32.74% | −3.45 pp |
| Q3 2018 | 2018-09-30 | 35.65% | −2.09 pp |
| Q2 2018 | 2018-06-30 | 33.55% | −0.56 pp |
| Q1 2018 | 2018-03-31 | 34.34% | −1.62 pp |
| Q4 2017 | 2017-12-31 | 36.20% | +4.31 pp |
| Q3 2017 | 2017-09-30 | 37.74% | +0.79 pp |
| Q2 2017 | 2017-06-30 | 34.12% | −0.82 pp |
| Q1 2017 | 2017-03-31 | 35.96% | +5.23 pp |
| Q4 2016 | 2016-12-31 | 31.89% | −56.26 pp |
| Q3 2016 | 2016-09-30 | 36.95% | +23.82 pp |
| Q2 2016 | 2016-06-30 | 34.94% | +34.50 pp |
| Q1 2016 | 2016-03-31 | 30.73% | +5.95 pp |
| Q4 2015 | 2015-12-31 | 88.15% | +59.64 pp |
| Q3 2015 | 2015-09-30 | 13.13% | −20.63 pp |
| Q2 2015 | 2015-06-30 | 0.44% | −28.97 pp |
| Q1 2015 | 2015-03-31 | 24.77% | −2.54 pp |
| Q4 2014 | 2014-12-31 | 28.51% | −0.56 pp |
| Q3 2014 | 2014-09-30 | 33.76% | −1.89 pp |
| Q2 2014 | 2014-06-30 | 29.41% | −1.03 pp |
| Q1 2014 | 2014-03-31 | 27.31% | −3.06 pp |
| Q4 2013 | 2013-12-31 | 29.07% | −12.49 pp |
| Q3 2013 | 2013-09-30 | 35.66% | −12.65 pp |
| Q2 2013 | 2013-06-30 | 30.43% | +4.84 pp |
| Q1 2013 | 2013-03-31 | 30.37% | +0.68 pp |
| Q4 2012 | 2012-12-31 | 41.56% | +16.56 pp |
| Q3 2012 | 2012-09-30 | 48.30% | +19.11 pp |
| Q2 2012 | 2012-06-30 | 25.59% | −0.65 pp |
| Q1 2012 | 2012-03-31 | 29.69% | +7.16 pp |
| Q4 2011 | 2011-12-31 | 25.00% | +0.84 pp |
| Q3 2011 | 2011-09-30 | 29.20% | +0.93 pp |
| Q2 2011 | 2011-06-30 | 26.24% | +3.72 pp |
| Q1 2011 | 2011-03-31 | 22.52% | −1.02 pp |
| Q4 2010 | 2010-12-31 | 24.16% | — |
| Q3 2010 | 2010-09-30 | 28.27% | +7.57 pp |
| Q2 2010 | 2010-06-30 | 22.52% | +1.07 pp |
| Q1 2010 | 2010-03-31 | 23.54% | — |
| Q3 2009 | 2009-09-30 | 20.70% | — |
| Q2 2009 | 2009-06-30 | 21.45% | — |
Black Hills ebitda margin trends
Over the last five fiscal years, Black Hills's ebitda margin decreased from 38.84% to 35.92%, a change of −2.91 percentage points. The latest reported quarter, Q2 2026, shows 39.11%.
About the metric
What EBITDA margin means
EBITDA margin measures EBITDA as a percentage of revenue. It can help compare operating profitability over time, but it excludes capital intensity, financing costs, taxes, and other items and is generally unsuitable for financial companies.
Calculation and source
How EBITDA margin is calculated
TickerStat calculates EBITDA margin as EBITDA divided by positive reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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