Black Hills annual return on equity
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Black Hills Return on Equity (ROE) Growth & History (BKH)
Black Hills's return on equity was 7.96% for fiscal 2025.
View full Black Hills company overviewBlack Hills annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 7.96% | −0.17 pp |
| 2024 | 2024-12-31 | 8.13% | −0.31 pp |
| 2023 | 2023-12-31 | 8.44% | −0.49 pp |
| 2022 | 2022-12-31 | 8.94% | +0.09 pp |
| 2021 | 2021-12-31 | 8.85% | −0.39 pp |
| 2020 | 2020-12-31 | 9.25% | +0.47 pp |
| 2019 | 2019-12-31 | 8.77% | −4.51 pp |
| 2018 | 2018-12-31 | 13.29% | +2.63 pp |
| 2017 | 2017-12-31 | 10.65% | +5.92 pp |
| 2016 | 2016-12-31 | 4.74% | +7.02 pp |
| 2015 | 2015-12-31 | −2.28% | −12.20 pp |
| 2014 | 2014-12-31 | 9.93% | +0.69 pp |
| 2013 | 2013-12-31 | 9.24% | +2.35 pp |
| 2012 | 2012-12-31 | 6.89% | +2.49 pp |
| 2011 | 2011-12-31 | 4.40% | −1.89 pp |
| 2010 | 2010-12-31 | 6.29% | −1.35 pp |
| 2009 | 2009-12-31 | 7.64% | — |
Black Hills quarterly return on equity
Q2.10
Q3.10
Q4.10
Q1.11
Q2.11
Q3.11
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Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.97% | +0.21 pp |
| Q1 2026 | 2026-03-31 | 3.37% | −0.39 pp |
| Q4 2025 | 2025-12-31 | 2.76% | −0.06 pp |
| Q3 2025 | 2025-09-30 | 0.67% | −0.04 pp |
| Q2 2025 | 2025-06-30 | 0.76% | +0.07 pp |
| Q1 2025 | 2025-03-31 | 3.76% | −0.14 pp |
| Q4 2024 | 2024-12-31 | 2.82% | +0.33 pp |
| Q3 2024 | 2024-09-30 | 0.72% | −0.73 pp |
| Q2 2024 | 2024-06-30 | 0.68% | −0.06 pp |
| Q1 2024 | 2024-03-31 | 3.91% | +0.16 pp |
| Q4 2023 | 2023-12-31 | 2.49% | +0.03 pp |
| Q3 2023 | 2023-09-30 | 1.45% | +0.23 pp |
| Q2 2023 | 2023-06-30 | 0.74% | −0.42 pp |
| Q1 2023 | 2023-03-31 | 3.75% | −0.41 pp |
| Q4 2022 | 2022-12-31 | 2.46% | −0.13 pp |
| Q3 2022 | 2022-09-30 | 1.21% | −0.44 pp |
| Q2 2022 | 2022-06-30 | 1.16% | +0.21 pp |
| Q1 2022 | 2022-03-31 | 4.15% | +0.44 pp |
| Q4 2021 | 2021-12-31 | 2.59% | −0.45 pp |
| Q3 2021 | 2021-09-30 | 1.65% | +0.21 pp |
| Q2 2021 | 2021-06-30 | 0.95% | +0.12 pp |
| Q1 2021 | 2021-03-31 | 3.71% | −0.10 pp |
| Q4 2020 | 2020-12-31 | 3.04% | +0.09 pp |
| Q3 2020 | 2020-09-30 | 1.44% | +0.94 pp |
| Q2 2020 | 2020-06-30 | 0.83% | +0.20 pp |
| Q1 2020 | 2020-03-31 | 3.81% | −0.84 pp |
| Q4 2019 | 2019-12-31 | 2.95% | −1.39 pp |
| Q3 2019 | 2019-09-30 | 0.51% | −0.43 pp |
| Q2 2019 | 2019-06-30 | 0.63% | −0.57 pp |
| Q1 2019 | 2019-03-31 | 4.65% | −2.89 pp |
| Q4 2018 | 2018-12-31 | 4.33% | +1.98 pp |
| Q3 2018 | 2018-09-30 | 0.93% | −0.95 pp |
| Q2 2018 | 2018-06-30 | 1.21% | −0.31 pp |
| Q1 2018 | 2018-03-31 | 7.54% | +2.67 pp |
| Q4 2017 | 2017-12-31 | 2.36% | +1.63 pp |
| Q3 2017 | 2017-09-30 | 1.88% | +0.75 pp |
| Q2 2017 | 2017-06-30 | 1.51% | +1.30 pp |
| Q1 2017 | 2017-03-31 | 4.87% | +2.16 pp |
| Q4 2016 | 2016-12-31 | 0.73% | +1.76 pp |
| Q3 2016 | 2016-09-30 | 1.13% | +1.89 pp |
| Q2 2016 | 2016-06-30 | 0.22% | +3.34 pp |
| Q1 2016 | 2016-03-31 | 2.72% | +0.23 pp |
| Q4 2015 | 2015-12-31 | −1.03% | — |
| Q3 2015 | 2015-09-30 | −0.77% | — |
| Q2 2015 | 2015-06-30 | −3.12% | — |
| Q1 2015 | 2015-03-31 | 2.48% | — |
| Q2 2013 | 2013-06-30 | 2.40% | +3.51 pp |
| Q1 2013 | 2013-03-31 | 3.50% | +1.01 pp |
| Q4 2012 | 2012-12-31 | 2.54% | +0.27 pp |
| Q3 2012 | 2012-09-30 | 2.86% | +3.82 pp |
| Q2 2012 | 2012-06-30 | −1.11% | −1.81 pp |
| Q1 2012 | 2012-03-31 | 2.50% | +0.06 pp |
| Q4 2011 | 2011-12-31 | 2.28% | −0.80 pp |
| Q3 2011 | 2011-09-30 | −0.96% | −2.10 pp |
| Q2 2011 | 2011-06-30 | 0.70% | +1.50 pp |
| Q1 2011 | 2011-03-31 | 2.43% | — |
| Q4 2010 | 2010-12-31 | 3.07% | — |
| Q3 2010 | 2010-09-30 | 1.15% | — |
| Q2 2010 | 2010-06-30 | −0.80% | — |
Black Hills return on equity trends
Over the last five fiscal years, Black Hills's return on equity decreased from 9.25% to 7.96%, a change of −1.28 percentage points. The latest reported quarter, Q2 2026, shows 0.97%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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