Black Hills Corporation (BKH)

Operating profit margin

		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
Operating income (ttm)	US$ in thousands	472,700	466,193	447,901	456,774	455,244	439,196	449,590	444,467	409,429	421,405	413,766	413,433	428,303	423,711	412,028	399,096	406,042	398,810	393,344	408,894
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
Operating profit margin		20.28%	18.42%	17.32%	17.24%	17.84%	18.91%	20.06%	20.78%	21.01%	22.50%	22.50%	23.05%	25.24%	25.10%	24.71%	23.84%	23.40%	22.68%	22.41%	23.01%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $472,700K ÷ $2,331,300K
= 20.28%

To analyze Black Hills Corporation's operating profit margin, we observe fluctuations over the past eight quarters. The operating profit margin has ranged from 17.24% to 20.78% during this period. Notably, the margins have been relatively consistent, staying within a narrow range, with Q2 2022 showing the highest margin at 20.78% and Q1 2023 at the lowest with 17.24%.

Overall, the company has maintained a healthy operating profit margin, indicating efficient cost management and strong operational performance. The slight fluctuations in the margins suggest some variability in the company's profitability, which may be influenced by factors such as operating expenses, revenue streams, and economic conditions.

Further analysis of trends and comparison with industry peers could provide additional insights into Black Hills Corporation's operational efficiency and competitive position in the market.