Company / Working Capital
Black Hills Corporation Working Capital History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Working Capital
$255.9M
FY2025
5-year range
-$595.0M / $255.9M
FY2021-FY2025
Trend
+1312.8%
vs FY2024
Sector context
#13 of 73
Utilities
What the data says
Working Capital changed +1313% YoY in FY2025, a notable deviation from the 9-year average annual change of +84%.
Based on SEC 10-K filings.
$256M in FY2025. Top quartile in the Utilities sector.
Improved from -$359M to $256M over the past 2 years.
Utilities sector context is included.
Working Capital over time
Growth rates
- 3-Year CAGR
- -
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Sector benchmark
Top 18% in UtilitiesTop 18% of 73This company $255.9M Sector average -$608.9M
▼
+142.0% above sector average
Key checks
Key Insights
- Black Hills Corporation's working capital has grown for 3 consecutive years.
- In FY2025, working capital increased 1312.8% year-over-year.
- Ranks #13 out of 73 companies in the Utilities sector.
- Lowest working capital in the period was in FY2022.
Company context
Key Data Points
- Altman Z-Score 0.72 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Working CapitalValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $255.9M | +1312.8% |
| FY2024 | -$21.1M | +94.1% |
| FY2023 | -$358.5M | +39.7% |
| FY2022 | -$595.0M | -535.8% |
| FY2021 | -$93.6M | +54.0% |
| FY2020 | -$203.2M | +39.9% |
| FY2019 | -$338.1M | -134.2% |
| FY2018 | -$144.4M | -84.4% |
| FY2017 | -$78.3M | -28.1% |
| FY2016 | -$61.1M | -115.3% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026