Black Hills Corporation (BKH)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	262,200	254,993	244,583	254,945	258,387	257,069	266,208	257,954	236,744	242,774	234,945	230,750	227,608	219,602	195,059	188,676	199,310	216,702	221,912	229,246
Total stockholders’ equity	US$ in thousands	3,215,300	3,167,320	3,110,020	3,097,950	2,994,900	2,886,620	2,885,450	2,871,920	2,787,090	2,697,520	2,659,040	2,624,510	2,561,380	2,519,050	2,513,290	2,523,170	2,362,120	2,329,480	2,316,750	2,279,160
ROE		8.15%	8.05%	7.86%	8.23%	8.63%	8.91%	9.23%	8.98%	8.49%	9.00%	8.84%	8.79%	8.89%	8.72%	7.76%	7.48%	8.44%	9.30%	9.58%	10.06%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $262,200K ÷ $3,215,300K
= 8.15%

Based on the data provided, Black Hills Corporation's return on equity (ROE) has been relatively stable over the past eight quarters, ranging from 7.86% to 9.23%. The ROE peaked in Q3 2022 at 9.23% and has since experienced a slight decline. The company's ROE in Q4 2023 was 8.15%, which is slightly below the ROE in the same quarter of the previous year (8.63%).

Overall, Black Hills Corporation's ROE remains within a consistent range, indicating that the company is effectively utilizing its equity to generate profits. However, the slight downward trend in ROE over the past few quarters may warrant further analysis to understand any underlying factors affecting the company's profitability and efficiency in generating returns for its shareholders.