Start with its own history
At 18.95×, BKH is 4.0% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · BKHRegulated GasUpdated Oct 25, 2026
Black Hills Corporation P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
18.95×
4.0% belowthe 10-year annual average
Share price79.41
÷Earnings per share4.19
Price and EPS in quote currency. Calculation details
Investors are paying 18.95 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 19.75×
3-year average15.39×3 positive annual observations
5-year average16.54×5 positive annual observations
10-year average19.75×10 positive annual observations
Peer median · TTM18.09×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 17.40× | +16.2% |
| Dec 31, 2024 | 14.97× | +8.5% |
| Dec 31, 2023 | 13.80× | -21.9% |
| Dec 31, 2022 | 17.67× | -6.3% |
| Dec 31, 2021 | 18.87× | +12.1% |
| Dec 31, 2020 | 16.84× | -29.5% |
| Dec 31, 2019 | 23.87× | +80.6% |
| Dec 31, 2018 | 13.22× | -23.9% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 17.37× | -60.1% |
| Dec 31, 2016 | 43.50× | N/M |
| Dec 31, 2015 | N/M | N/M |
| Dec 31, 2014 | 17.98× | -8.9% |
| Dec 31, 2013 | 19.74× | +27.1% |
| Dec 31, 2012 | 15.53× | -42.2% |
| Dec 31, 2011 | 26.86× | +57.6% |
| Dec 31, 2010 | 17.05× | +35.1% |
| Dec 31, 2009 | 12.62× | +28.7% |
| Dec 31, 2008 | 9.80× | -40.9% |
| Dec 31, 2007 | 16.58× | +9.5% |
| Dec 31, 2006 | 15.14× | -55.4% |
| Dec 31, 2005 | 33.93× | +96.9% |
| Dec 31, 2004 | 17.24× | +15.6% |
| Dec 31, 2003 | 14.91× | +28.2% |
| Dec 31, 2002 | 11.63× | +18.6% |
| Dec 31, 2001 | 9.81× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How BKH compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 BKH This stockBlack Hills Corporation | 18.95× |
 NWENorthwestern Energy Group Inc | 27.81× |
 ALEALLETE, Inc. | 66.57× |
 OGSONE Gas, Inc. | 16.72× |
 PCGPG&E Corporation | 9.36× |
 NJRNew Jersey Resources Corporation | 14.62× |
 AVAAvista Corporation | 13.56× |
 DTWDTE Energy Company 5.25 % Debentures 2017-01.12.77 Global | 20.70× |
 PORPortland General Electric Company | 19.45× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does BKH’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 18.09×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take BKH into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("BKH", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 79.41 ÷ EPS 4.19 = 18.95×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Oct 25, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
BKH P/E ratio: common questions
The essentials behind the numbers.
Black Hills Corporation's current P/E is 18.95× based on the quote data last updated Oct 25, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.