Black Hills Corporation (BKH)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	262,200	258,400	236,744	227,608	199,310
Total assets	US$ in thousands	9,620,400	9,618,200	9,131,900	8,088,790	7,558,460
ROA		2.73%	2.69%	2.59%	2.81%	2.64%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $262,200K ÷ $9,620,400K
= 2.73%

The return on assets (ROA) for Black Hills Corporation has shown a fluctuating trend over the past five years. In 2023, the ROA increased to 2.73% from 2.69% in 2022 and 2.59% in 2021. This indicates an improvement in the company's ability to generate earnings from its assets in the most recent period. However, the ROA was higher in 2020 at 2.81% compared to 2023.

Overall, Black Hills Corporation has maintained relatively stable ROA levels around the 2.6-2.8% range during the last five years. It is important for the company to continuously monitor and improve its ROA as it signifies the efficiency of utilizing its assets to generate profits for shareholders.