Black Hills (BKH) FY2021 results: revenue $1.9 billion, up 14.9% on the year
Black Hills Corp. (BKH) reported revenue of $1.9 billion for fiscal 2021, the year ended 31 December 2021, up 14.9% on the year before. Net income was $237 million, up 4.0%, and diluted earnings per share $3.74. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2022.
Revenue
$1.9 billion
+14.9% on the year
FY2014FY2021
Operating margin
21.0%
25.2% a year earlier
FY2014FY2021
Net income
$237 million
+4.0% on the year
FY2014FY2021
Diluted EPS
$3.74
+2.5% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
-64.6
542
506
Capital expenditure
677
767
818
-11.7%
Free cash flow
-742
-226
-313
Free cash flow margin
-38.1%
-13.3%
-18.0%
Cash from investing
-664
-762
-816
Cash from financing
732
217
300
+237.4%
Depreciation and amortisation
236
224
209
+5.1%
Share-based compensation
9.7
5.4
12.1
+80.5%
Dividends paid
145
135
125
+7.1%
Dividend per share
$2.29
$2.17
$2.05
+5.5%
Diluted shares, weighted
63m
62m
61m
+1.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,787
2,561
2,362
+8.8%
Non-controlling interest
100
101
102
-1.2%
Debt
4,547
3,771
3,495
+20.6%
Other liabilities
1,698
1,656
1,599
+2.5%
Total liabilities and equity
9,132
8,089
7,558
+12.9%
Fixed assets
6,449
6,020
5,503
+7.1%
Goodwill
1,299
1,299
1,299
0.0%
Intangible assets
10.8
11.9
13.3
-9.2%
Investments
15.5
15.8
21.9
-2.1%
Cash and equivalents
8.9
6.4
9.8
+40.4%
Receivables
322
266
256
+20.9%
Inventory
151
117
117
+28.6%
Other assets
875
352
338
+148.6%
Total assets
9,132
8,089
7,558
+12.9%
10-K for the year ended 31 December 2021, filed 15 February 2022: the filing.