Black Hills Corporation (BKH)

Debt-to-equity ratio

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
Long-term debt US$ in thousands 4,250,200 4,248,800 4,247,100 3,802,800 3,801,200 3,799,510 3,955,740 3,954,410 3,607,300 4,131,030 4,129,660 4,128,290 4,126,920 4,125,570 3,530,220 3,529,160 3,528,100 3,526,890 3,532,890 3,136,890
Total stockholders’ equity US$ in thousands 3,501,500 3,446,600 3,357,300 3,333,900 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
Debt-to-equity ratio 1.21 1.23 1.27 1.14 1.18 1.20 1.27 1.28 1.20 1.43 1.43 1.44 1.48 1.53 1.33 1.34 1.38 1.40 1.41 1.24

December 31, 2024 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $4,250,200K ÷ $3,501,500K
= 1.21

The debt-to-equity ratio of Black Hills Corporation has exhibited fluctuations over the periods analyzed. It has ranged from a low of 1.14 as of March 31, 2024, to a high of 1.53 as of September 30, 2021. Overall, the trend has shown a slight decrease in the ratio from 1.41 as of June 30, 2020, to 1.21 as of December 31, 2024. This indicates that the company's reliance on debt compared to equity has varied but generally trended downwards in recent periods. A ratio above 1 suggests that the company has more debt than equity, highlighting its debt financing strategy. The company should continue to monitor this ratio to ensure a healthy balance between debt and equity in its capital structure.