Black Hills (STU:BHI) EBIT: €470 Mil (TTM As of Mar. 2026)


STU:BHI Black Hills Corp STU:BHI
71 GF Score
Price €65.05
GF Value €50.64
Valuation Modestly Overvalued
! 10 Warning Signs
View Full Analysis

What is Black Hills EBIT?

Black Hills STU:BHI -1.06% 71 EBIT is €470 Mil as of Mar. 2026. GuruFocus rates STU:BHI with a GF Score™ of 71/100 and a GF Value™ of €50.64 (Modestly Overvalued). The stock has 10 warning signs investors should review.

Black Hills's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €175 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €470 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Black Hills's annualized ROC % for the quarter that ended in Mar. 2026 was 6.81%. Black Hills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.77%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Black Hills's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 5.16%.


Black Hills  (STU:BHI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Black Hills's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=698.572 * ( 1 - 11.68% )/( (8714.643 + 9417.601)/ 2 )
=616.9787904/9066.122
=6.81 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=9282.809 - 412.055 - ( 156.111 - max(0, 631.96 - 850.499+156.111))
=8714.643

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=9359.3 - 315.984 - ( 20.414 - max(0, 1056.078 - 681.793+20.414))
=9417.601

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Black Hills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=700.996/( ( (7032.007 + max(-98.978, 0)) + (7260.637 + max(59.945, 0)) )/ 2 )
=700.996/( ( 7032.007 + 7320.582 )/ 2 )
=700.996/7176.2945
=9.77 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(190.698 + 147.23 + 195.054) - (412.055 + 50.386 + 169.519)
=-98.978

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(233.031 + 126.982 + 183.207) - (315.984 + 39.271 + 128.02)
=59.945

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Black Hills's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=470.028/9110.823
=5.16 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Black Hills EBIT Related Terms


Black Hills EBIT Historical Data

* Premium members only.

The historical data trend for Black Hills's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Black Hills EBIT Chart

Black Hills Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 365.06 432.92 441.63 492.02 470.04

Black Hills Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 190.74 71.96 68.59 154.23 175.25

STU:BHI vs NJR, OGS, SWX: EBIT Comparison

For the Utilities - Regulated Gas subindustry, Black Hills's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Black Hills EV-to-EBIT vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Black Hills's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Black Hills's EV-to-EBIT falls into.


STU:BHI
71GF Score
Black Hills Corp STU:BHI
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Black Hills EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €470 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €470 Mil mean?
Black Hills (STU:BHI) has a EBIT of €470 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Black Hills.
Is Black Hills' EBIT too high?
Black Hills' current EBIT is €470 Mil. Overall, Black Hills has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Black Hills' EBIT compare to NJR and OGS?
Black Hills' EBIT of €470 Mil can be compared against companies in the Utilities - Regulated industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Utilities - Regulated company?
A good EBIT depends on the Utilities - Regulated industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Black Hills. Black Hills's current EBIT is €470 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Black Hills stock overvalued right now?
Based on GuruFocus' analysis, Black Hills (STU:BHI) is currently considered Modestly Overvalued. The stock's GF Value™ is €50.64, compared to a current price of €65.05 — trading 28.5% above its estimated fair value. The current EBIT is €470 Mil. Black Hills' overall GF Score™ is 71/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Black Hills (STU:BHI), the current EBIT is €470 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Black Hills (STU:BHI) Overvalued in 2026?

Based on GuruFocus' analysis, Black Hills stock appears to be overvalued. The current stock price of €65.05 is trading 28.5% above its estimated GF Value™ of €50.64. GuruFocus considers Black Hills to be Modestly Overvalued.

Key valuation signals for STU:BHI:

  • EBIT: €470 Mil
  • GF Value™: €50.64 vs. price of €65.05 (28.5% above fair value)
  • GF Score™: 71/100 with 10 warning signs

No single metric tells the full story. See the STU:BHI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Black Hills Business Description

Other Exchanges BKH:USA
Address 7001 Mount Rushmore Road, Rapid City, SD, USA, 57702
Black Hills Corp is a U.S.-based energy company that operates through its Electric Utilities and Gas Utilities segment. These segments operate in states in the Midwest and mountain regions in the U.S. The company's customers include residential, commercial, industrial, and municipal consumers. These customers are residential. Black Hills derives the majority of its revenue from its utility business group, specifically from gas utilities.
71GF Score

Get the complete analysis for STU:BHI

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€65.05
Price
€50.64
GF Value