Black Hills annual net debt
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2025
Black Hills Net Debt Growth & History (BKH)
Black Hills's net debt was $4.52B for fiscal 2025.
View full Black Hills company overviewBlack Hills annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $4.52B | $150.4M | +3.44% |
| 2024 | 2024-12-31 | $4.37B | $53.3M | +1.24% |
| 2023 | 2023-12-31 | $4.31B | −$331.9M | −7.14% |
| 2022 | 2022-12-31 | $4.65B | $108.3M | +2.39% |
| 2021 | 2021-12-31 | $4.54B | $774.0M | +20.56% |
| 2020 | 2020-12-31 | $3.76B | $273.2M | +7.83% |
| 2019 | 2019-12-31 | $3.49B | $369.6M | +11.84% |
| 2018 | 2018-12-31 | $3.12B | −$189.6M | −5.73% |
| 2017 | 2017-12-31 | $3.31B | $11.0M | +0.33% |
| 2016 | 2016-12-31 | $3.30B | $1.81B | +121.53% |
| 2015 | 2015-12-31 | $1.49B | −$106.8M | −6.69% |
| 2014 | 2014-12-31 | $1.60B | $124.8M | +8.48% |
| 2013 | 2013-12-31 | $1.47B | $167.2M | +12.82% |
| 2012 | 2012-12-31 | $1.30B | −$301.9M | −18.79% |
| 2011 | 2011-12-31 | $1.61B | $182.5M | +12.82% |
| 2010 | 2010-12-31 | $1.42B | $485.5M | +51.75% |
| 2009 | 2009-12-31 | $938.3M | — | — |
Black Hills quarterly net debt
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Q2.10
Q3.10
Q4.10
Q1.11
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Q3.11
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Q4.22
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Q2.23
Q3.23
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Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $4.42B | $54.4M | +1.25% |
| Q1 2026 | 2026-03-31 | $4.63B | $326.2M | +7.58% |
| Q4 2025 | 2025-12-31 | $4.52B | $150.4M | +3.44% |
| Q3 2025 | 2025-09-30 | $4.36B | $103.9M | +2.44% |
| Q2 2025 | 2025-06-30 | $4.37B | $145.7M | +3.45% |
| Q1 2025 | 2025-03-31 | $4.30B | $25.1M | +0.59% |
| Q4 2024 | 2024-12-31 | $4.37B | $53.3M | +1.24% |
| Q3 2024 | 2024-09-30 | $4.25B | −$76.4M | −1.76% |
| Q2 2024 | 2024-06-30 | $4.22B | −$105.9M | −2.45% |
| Q1 2024 | 2024-03-31 | $4.28B | −$160.2M | −3.61% |
| Q4 2023 | 2023-12-31 | $4.31B | −$331.9M | −7.14% |
| Q3 2023 | 2023-09-30 | $4.33B | −$290.5M | −6.29% |
| Q2 2023 | 2023-06-30 | $4.33B | −$126.3M | −2.84% |
| Q1 2023 | 2023-03-31 | $4.44B | −$13.4M | −0.30% |
| Q4 2022 | 2022-12-31 | $4.65B | $108.3M | +2.39% |
| Q3 2022 | 2022-09-30 | $4.62B | $172.8M | +3.88% |
| Q2 2022 | 2022-06-30 | $4.45B | $88.6M | +2.03% |
| Q1 2022 | 2022-03-31 | $4.45B | $114.9M | +2.65% |
| Q4 2021 | 2021-12-31 | $4.54B | $774.0M | +20.56% |
| Q3 2021 | 2021-09-30 | $4.45B | $833.8M | +23.07% |
| Q2 2021 | 2021-06-30 | $4.37B | $860.3M | +24.54% |
| Q1 2021 | 2021-03-31 | $4.34B | $931.0M | +27.32% |
| Q4 2020 | 2020-12-31 | $3.76B | $273.2M | +7.83% |
| Q3 2020 | 2020-09-30 | $3.61B | $271.6M | +8.13% |
| Q2 2020 | 2020-06-30 | $3.51B | $348.3M | +11.03% |
| Q1 2020 | 2020-03-31 | $3.41B | $293.1M | +9.41% |
| Q4 2019 | 2019-12-31 | $3.49B | $369.6M | +11.84% |
| Q3 2019 | 2019-09-30 | $3.34B | $33.3M | +1.01% |
| Q2 2019 | 2019-06-30 | $3.16B | −$69.7M | −2.16% |
| Q1 2019 | 2019-03-31 | $3.11B | −$133.3M | −4.10% |
| Q4 2018 | 2018-12-31 | $3.12B | −$189.6M | −5.73% |
| Q3 2018 | 2018-09-30 | $3.31B | −$18.1M | −0.54% |
| Q2 2018 | 2018-06-30 | $3.23B | −$35.5M | −1.09% |
| Q1 2018 | 2018-03-31 | $3.25B | −$8.3M | −0.26% |
| Q4 2017 | 2017-12-31 | $3.31B | $11.0M | +0.33% |
| Q3 2017 | 2017-09-30 | $3.33B | $66.6M | +2.04% |
| Q2 2017 | 2017-06-30 | $3.26B | $97.3M | +3.07% |
| Q1 2017 | 2017-03-31 | $3.26B | −$92.5M | −2.76% |
| Q4 2016 | 2016-12-31 | $3.30B | $1.81B | +121.53% |
| Q3 2016 | 2016-09-30 | $3.26B | $1.63B | +99.77% |
| Q2 2016 | 2016-06-30 | $3.17B | $1.59B | +100.98% |
| Q1 2016 | 2016-03-31 | $3.35B | $1.78B | +113.21% |
| Q4 2015 | 2015-12-31 | $1.49B | −$106.8M | −6.69% |
| Q3 2015 | 2015-09-30 | $1.63B | $77.6M | +4.99% |
| Q2 2015 | 2015-06-30 | $1.57B | $60.0M | +3.96% |
| Q1 2015 | 2015-03-31 | $1.57B | $91.3M | +6.17% |
| Q4 2014 | 2014-12-31 | $1.60B | $124.8M | +8.48% |
| Q3 2014 | 2014-09-30 | $1.55B | $218.2M | +16.33% |
| Q2 2014 | 2014-06-30 | $1.51B | $231.5M | +18.04% |
| Q1 2014 | 2014-03-31 | $1.48B | $205.6M | +16.14% |
| Q4 2013 | 2013-12-31 | $1.47B | $167.2M | +12.82% |
| Q3 2013 | 2013-09-30 | $1.34B | $87.3M | +6.99% |
| Q2 2013 | 2013-06-30 | $1.28B | −$173.9M | −11.94% |
| Q1 2013 | 2013-03-31 | $1.27B | −$176.1M | −12.15% |
| Q4 2012 | 2012-12-31 | $1.30B | −$301.9M | −18.79% |
| Q3 2012 | 2012-09-30 | $1.25B | −$364.8M | −22.61% |
| Q2 2012 | 2012-06-30 | $1.46B | −$87.9M | −5.69% |
| Q1 2012 | 2012-03-31 | $1.45B | $195,000 | +0.01% |
| Q4 2011 | 2011-12-31 | $1.61B | $182.5M | +12.82% |
| Q3 2011 | 2011-09-30 | $1.61B | $334.3M | +26.12% |
| Q2 2011 | 2011-06-30 | $1.55B | $389.6M | +33.71% |
| Q1 2011 | 2011-03-31 | $1.45B | — | — |
| Q4 2010 | 2010-12-31 | $1.42B | $485.5M | +51.75% |
| Q3 2010 | 2010-09-30 | $1.28B | — | — |
| Q2 2010 | 2010-06-30 | $1.16B | — | — |
| Q4 2009 | 2009-12-31 | $938.3M | — | — |
Black Hills net debt trends
Over the last five fiscal years, Black Hills's net debt increased from $3.76B to $4.52B, a change of $754.1M. The latest reported quarter, Q2 2026, shows $4.42B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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