Black HillsMEX:BKH 75 Return-on-Tangible-Equity is 20.33% as of Mar. 2026, which is 21% above its 10-year median of 16.85. GuruFocus rates MEX:BKH with a GF Score™ of 75/100 and a GF Value™ of MXN854.43. The stock has 10 warning signs investors should review. Among 497 Utilities - Regulated companies, Black Hills ranks better than 53.72% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Black Hills's annualized net income for the quarter that ended in Mar. 2026 was MXN9,449 Mil. Black Hills's average shareholder tangible equity for the quarter that ended in Mar. 2026 was MXN46,469 Mil. Therefore, Black Hills's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 20.33%.
The historical rank and industry rank for Black Hills's Return-on-Tangible-Equity or its related term are showing as below:
MEX:BKH'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 10.35 Med: 16.85 Max: 49.96
Current: 11.75
During the past 13 years, Black Hills's highest Return-on-Tangible-Equity was 49.96%. The lowest was 10.35%. And the median was 16.85%.
MEX:BKH's Return-on-Tangible-Equity is ranked better than 53.72% of 497
companies
in the Utilities - Regulated industry
Industry Median: 10.9
vs MEX:BKH: 11.75
Black Hills (MEX:BKH) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Black Hills Return-on-Tangible-Equity Related Terms
Black Hills Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Black Hills's Return-on-Tangible-Equity 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.
MEX:BKH vs NJR, OGS, SWX: Return-on-Tangible-Equity Comparison
For the Utilities - Regulated Gas subindustry, Black Hills's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Black Hills's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Black Hills's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 20.33% mean?
Black Hills (MEX:BKH) has a Return-on-Tangible-Equity of 20.33% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Black Hills and its competitors. This is 21% above median its historical median of 16.85. Over the past decade, Black Hills' Return-on-Tangible-Equity has ranged from 10.35 to 49.96. According to the industry distribution chart, Black Hills ranks #230 out of 497 companies in the Utilities - Regulated industry, placing it in the top 46.3%.
Is Black Hills' Return-on-Tangible-Equity too high?
Black Hills' current Return-on-Tangible-Equity of 20.33% is 21% above median its 10-year median of 16.85. Over the past 10 years, this metric has ranged from a low of 10.35 to a high of 49.96. The Utilities - Regulated industry median Return-on-Tangible-Equity is 10.90. Black Hills' value of 20.33% is 86.5% above this industry median. Based on the distribution chart, Black Hills ranks #230 out of 497 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Black Hills has a GF Score™ of 75/100, reflecting its overall financial health beyond just this single metric.
How does Black Hills' Return-on-Tangible-Equity compare to NJR and OGS?
According to the Utilities - Regulated industry distribution chart, Black Hills ranks #230 out of 497 companies for Return-on-Tangible-Equity. This puts Black Hills in the upper half of its industry. The industry median Return-on-Tangible-Equity is 10.90. Black Hills' value of 20.33% is 86.5% above this benchmark. Historically, Black Hills' own Return-on-Tangible-Equity has ranged from 10.35 to 49.96 over the past decade. While the company's 10-year median is 16.85 vs. the industry median of 10.90, Black Hills has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Utilities - Regulated company?
The median Return-on-Tangible-Equity among Utilities - Regulated companies is 10.90, based on 497 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Black Hills's current Return-on-Tangible-Equity of 20.33% is 86.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Black Hills and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Equity is 10.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Black Hills's current Return-on-Tangible-Equity is 20.33%, which is 21% above median its own 10-year median of 16.85. 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?
Black Hills (MEX:BKH) has a current Return-on-Tangible-Equity of 20.33%. The stock's GF Value™ is MXN854.43, compared to a current price of MXN1,089.00 — trading 27.5% above its estimated fair value. The current Return-on-Tangible-Equity is 20.33%, which is 21% above median its 10-year median of 16.85 and 86.5% above the Utilities - Regulated industry median of 10.90. Black Hills' overall GF Score™ is 75/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Black Hills (MEX:BKH), the current Return-on-Tangible-Equity is 20.33% 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 (MEX:BKH) Overvalued in 2026?
Based on GuruFocus' analysis, Black Hills stock appears to be overvalued.
The current stock price of MXN1,089.00 is trading 27.5% above its estimated GF Value™ of MXN854.43.
Key valuation signals for MEX:BKH:
Return-on-Tangible-Equity: 20.33% (21% above median its 10-year median of 16.85)
GF Value™: MXN854.43 vs. price of MXN1,089.00 (27.5% above fair value)
Industry Position: 86.5% above the Utilities - Regulated median (#230 of 497)
No single metric tells the full story. See the MEX:BKH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
75GF Score
Get the complete analysis for MEX:BKH
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:BKH has been successfully added to your 
