Black Hills Corporation (BKH)

Financial leverage 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
Total assets US$ in thousands 10,022,600 9,718,700 10,185,900 9,676,700 9,620,400 9,932,930 9,409,100 9,460,140 9,618,200 9,322,290 9,134,560 9,130,650 9,131,900 8,910,390 8,738,050 8,696,200 8,088,790 7,829,050 7,689,930 7,648,810
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
Financial leverage ratio 2.86 2.82 3.03 2.90 2.99 3.14 3.03 3.05 3.21 3.23 3.17 3.18 3.28 3.30 3.29 3.31 3.16 3.11 3.06 3.03

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $10,022,600K ÷ $3,501,500K
= 2.86

Black Hills Corporation's financial leverage ratio has shown fluctuations over the past few years. The ratio increased steadily from March 2020 to March 2021, reaching a peak of 3.31. However, it slightly decreased in the following quarters but remained above the 3.0 level. By December 2023, the ratio decreased to 2.99, indicating a potential improvement in the company's leverage position. The ratio further declined to 2.86 by December 2024, suggesting a potential reduction in the company's reliance on debt financing. Overall, the trend in the financial leverage ratio for Black Hills Corporation shows a mix of stability and slight fluctuations over the reviewed period.