Black Hills Corporation (BKH)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	2,127,700	2,122,332	2,127,832	2,136,532	2,331,332	2,531,039	2,586,551	2,649,446	2,551,816	2,322,885	2,240,863	2,139,240	1,949,102	1,872,981	1,838,981	1,793,323	1,696,941	1,688,208	1,667,166	1,674,140
Total current assets	US$ in thousands	742,300	599,500	1,173,600	797,600	826,600	1,240,270	802,328	918,318	1,071,700	849,248	760,427	849,308	808,133	627,726	571,739	578,615	493,291	403,657	414,105	489,673
Total current liabilities	US$ in thousands	763,400	536,200	1,106,800	1,088,400	1,185,100	1,602,670	977,860	1,038,910	1,666,700	969,597	785,180	794,724	901,713	758,117	1,230,530	1,229,600	696,533	513,932	384,965	719,854
Working capital turnover		—	33.53	31.85	—	—	—	—	—	—	—	—	39.19	—	—	—	—	—	—	57.21	—

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,127,700K ÷ ($742,300K – $763,400K)
= —

Based on the provided data for Black Hills Corporation's working capital turnover, the ratio has fluctuated over the period from June 30, 2020, to December 31, 2024.

The working capital turnover ratio represents how efficiently a company utilizes its working capital to generate sales revenue. A higher turnover ratio generally indicates that the company is effectively managing its working capital.

Here's a breakdown of the key findings:
- As of June 30, 2020, the working capital turnover was 57.21, indicating that Black Hills Corporation was efficiently utilizing its working capital to generate revenue.
- The ratio was not available for March 31, 2020, September 30, 2020, and subsequent quarters until December 31, 2024, suggesting either a lack of data or potential changes in working capital management during those periods.
- By June 30, 2022, the working capital turnover had decreased to 31.85, which could imply a potential decrease in efficiency in utilizing working capital.
- Subsequently, the ratio increased to 33.53 by September 30, 2024, indicating a slight improvement in the efficiency of working capital management compared to the previous quarter.

In conclusion, based on the available data, Black Hills Corporation has shown variability in its working capital turnover ratio over the analyzed period, with some fluctuations suggesting potential shifts in how effectively the company is using its working capital to support its operations and generate revenue. Further analysis would be required to understand the underlying reasons for these fluctuations and assess the overall trend in working capital efficiency.