Black Hills Corp

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BKH : NYSE : Utilities
$58.76 up 0.26 | 0.44%
Today's Range: 57.74 - 58.76
Avg. Daily Volume: 372200.0
12/05/16 - 4:02 PM ET

Financial Analysis


BLACK HILLS CORP's gross profit margin for the third quarter of its fiscal year 2016 has increased when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not. BLACK HILLS CORP has very weak liquidity. Currently, the Quick Ratio is 0.34 which clearly shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 24.66% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)333.79272.11
EBITDA ($mil)125.7397.6
EBIT ($mil)76.859.83
Net Income ($mil)14.13-9.94


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)65.141.3
Total Assets ($mil)6452.144246.56
Total Debt ($mil)3292.511685.7
Equity ($mil)1604.641287.21


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin37.6735.87
EBITDA Margin37.6635.86
Operating Margin23.0121.99
Sales Turnover0.220.32
Return on Assets0.620.39
Return on Equity2.531.28
Debt Q3 FY16 Q3 FY15
Current Ratio0.870.9
Debt/Capital0.670.57
Interest Expense37.3122.38
Interest Coverage2.062.67


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)53.1144.86
Div / share0.420.41
EPS0.26-0.22
Book value / share30.2128.7
Institutional Own % n/a n/a
Avg Daily Volume372170.0361171.0

Valuation


HOLD. BLACK HILLS CORP's P/E ratio indicates a significant premium compared to an average of 19.32 for the Multi-Utilities industry and a significant premium compared to the S&P 500 average of 25.22. For additional comparison, its price-to-book ratio of 1.94 indicates a discount versus the S&P 500 average of 2.79 and a discount versus the industry average of 2.17. The current price-to-sales ratio is above the S&P 500 average, but below the industry average.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
BKH 79.05 Peers 19.32   BKH 13.19 Peers 7.88

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

BKH is trading at a significant premium to its peers.

 

Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

BKH is trading at a significant premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
BKH 16.34 Peers 17.06   BKH NM Peers 1.42

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

BKH is trading at a premium to its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

BKH's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
BKH 1.94 Peers 2.17   BKH 100.00 Peers -58.14

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

BKH is trading at a discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

BKH is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
BKH 2.18 Peers 2.38   BKH 4.61 Peers -4.28

Average. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

BKH is trading at a valuation on par with its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

BKH has a sales growth rate that significantly exceeds its peers.

 

 

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