Black Hills (BKH) FY2016 results: revenue $1.5 billion, up 22.0% on the year
Black Hills Corp. (BKH) reported revenue of $1.5 billion for fiscal 2016, the year ended 31 December 2016, up 22.0% on the year before. Net income was $73 million, and diluted earnings per share $1.37. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$1.5 billion
+22.0% on the year
FY2009FY2016
Operating margin
21.8%
23.8% a year earlier
FY2009FY2016
Net income
$73 million
FY2009FY2016
Diluted EPS
$1.37
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
1,539
1,261
1,394
+22.0%
Operating income
336
300
264
+11.9%
Operating margin
21.8%
23.8%
18.9%
Interest expense
136
84.7
71.0
+60.8%
Pre-tax income
206
220
198
-6.5%
Income tax
59.1
78.7
66.6
-24.9%
Effective tax rate
28.7%
35.7%
33.7%
Net income
73.0
-32.1
131
Net margin
4.7%
-2.5%
9.4%
Diluted EPS
$1.37
-$0.71
$2.93
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
320
424
315
-24.5%
Capital expenditure
455
266
398
+70.8%
Free cash flow
-134
158
-83.2
Free cash flow margin
-8.7%
12.5%
-6.0%
Cash from investing
-1,589
-476
-401
Cash from financing
841
484
91.1
+73.9%
Depreciation and amortisation
176
127
145
+38.7%
Share-based compensation
10.9
4.1
9.3
+167.1%
Dividends paid
87.6
72.6
69.6
+20.6%
Dividend per share
$1.68
$1.62
$1.56
+3.7%
Diluted shares, weighted
53m
45m
45m
+17.6%
Shares outstanding at period end
n/a
51m
45m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,615
1,466
1,354
+10.1%
Non-controlling interest
115
n/a
n/a
Debt
3,314
1,930
1,618
+71.6%
Other liabilities
1,498
1,230
1,274
+21.8%
Total liabilities and equity
6,542
4,627
4,246
+41.4%
Fixed assets
4,386
3,259
3,205
+34.6%
Goodwill
1,299
360
353
+261.2%
Intangible assets
8.4
3.4
3.2
+148.3%
Investments
12.6
12.0
17.3
+4.8%
Cash and equivalents
13.5
441
21.2
-96.9%
Receivables
259
147
190
+75.8%
Inventory
104
86.9
91.2
+19.2%
Other assets
459
317
364
+44.7%
Total assets
6,542
4,627
4,246
+41.4%
10-K for the year ended 31 December 2016, filed 19 February 2019: the filing.