Black Hills Corporation (BKH)

Working capital turnover

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	2,331,300	2,531,007	2,586,493	2,649,405	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	1,734,900	1,758,442	1,754,873	1,776,689
Total current assets	US$ in thousands	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	473,184	377,421	369,673	484,570
Total current liabilities	US$ in thousands	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	811,294	691,124	488,401	591,015
Working capital turnover		—	—	—	—	—	—	—	39.19	—	—	—	—	—	—	57.21	—	—	—	—	—

December 31, 2023 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $2,331,300K ÷ ($826,600K – $1,185,100K)
= —

The working capital turnover for Black Hills Corporation for Q1 2022 is 39.19 times. This indicates that the company is able to effectively utilize its working capital to generate revenue during that period. However, without additional data for the subsequent quarters of 2022 and all quarters of 2023, it is challenging to provide a trend analysis or make comparisons. It would be important to assess the consistency of this ratio over time and compare it to industry benchmarks to better understand the efficiency of Black Hills Corporation's working capital management.