Black Hills Corporation (BKH) — Working Capital to Net Assets Ratio
Black Hills Corporation (BKH) has a Working Capital to Net Assets ratio of -10.7% as of March 2026. Working capital of $-432.70 Million (current assets of $788.20 Million minus current liabilities of $1.22 Billion) is measured against net assets of $4.03 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Black Hills Corporation (BKH) net asset quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Black Hills Corporation Working Capital to Net Assets (1994–2025)
This chart shows how Black Hills Corporation's Working Capital to Net Assets ratio has evolved across 32 annual periods from 1994 to 2025. As of March 2026, the ratio stands at -10.7%, reflecting working capital of $-432.70 Million against net assets of $4.03 Billion USD. Check BKH tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Black Hills Corporation (1994–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Black Hills Corporation from 1994 to 2025, covering 32 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see how much is Black Hills Corporation worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 6.6% | $255.90 Million | $3.91 Billion | $995.90 Million | $740.00 Million | ▲ +7.1 pp |
| 2024 | -0.6% | $-21.10 Million | $3.59 Billion | $742.30 Million | $763.40 Million | ▲ +10.3 pp |
| 2023 | -10.8% | $-358.50 Million | $3.31 Billion | $826.60 Million | $1.19 Billion | ▲ +8.4 pp |
| 2022 | -19.3% | $-595.00 Million | $3.09 Billion | $1.07 Billion | $1.67 Billion | ▼ -16.0 pp |
| 2021 | -3.2% | $-93.58 Million | $2.89 Billion | $808.13 Million | $901.71 Million | ▲ +4.4 pp |
| 2020 | -7.6% | $-203.24 Million | $2.66 Billion | $493.29 Million | $696.53 Million | ▲ +6.1 pp |
| 2019 | -13.7% | $-338.11 Million | $2.46 Billion | $473.18 Million | $811.29 Million | ▼ -7.4 pp |
| 2018 | -6.3% | $-144.40 Million | $2.29 Billion | $503.83 Million | $648.23 Million | ▼ -2.0 pp |
| 2017 | -4.3% | $-78.32 Million | $1.82 Billion | $570.78 Million | $649.10 Million | ▼ -0.8 pp |
| 2016 | -3.5% | $-61.12 Million | $1.73 Billion | $466.81 Million | $527.93 Million | ▼ -30.8 pp |
| 2015 | 27.3% | $400.12 Million | $1.47 Billion | $822.15 Million | $422.03 Million | ▲ +41.6 pp |
| 2014 | -14.3% | $-197.25 Million | $1.38 Billion | $454.04 Million | $651.28 Million | ▼ -11.8 pp |
| 2013 | -2.5% | $-33.11 Million | $1.31 Billion | $345.29 Million | $378.39 Million | ▲ +24.2 pp |
| 2012 | -26.8% | $-329.78 Million | $1.23 Billion | $405.11 Million | $734.89 Million | ▼ -16.9 pp |
| 2011 | -9.9% | $-119.15 Million | $1.21 Billion | $758.92 Million | $878.07 Million | ▲ +0.7 pp |
| 2010 | -10.6% | $-116.57 Million | $1.10 Billion | $670.87 Million | $787.44 Million | ▼ -8.8 pp |
| 2009 | -1.8% | $-19.99 Million | $1.08 Billion | $624.87 Million | $644.86 Million | ▲ +41.4 pp |
| 2008 | -43.2% | $-454.16 Million | $1.05 Billion | $799.51 Million | $1.25 Billion | ▼ -38.1 pp |
| 2007 | -5.1% | $-50.06 Million | $975.02 Million | $530.90 Million | $580.96 Million | ▲ +1.7 pp |
| 2006 | -6.9% | $-54.48 Million | $795.20 Million | $474.50 Million | $528.98 Million | ▼ -16.4 pp |
| 2005 | 9.6% | $71.34 Million | $743.80 Million | $541.97 Million | $470.62 Million | ▼ -7.0 pp |
| 2004 | 16.5% | $122.56 Million | $740.60 Million | $480.31 Million | $357.75 Million | ▼ -11.1 pp |
| 2003 | 27.6% | $197.49 Million | $714.44 Million | $483.75 Million | $286.26 Million | ▲ +77.7 pp |
| 2002 | -50.0% | $-271.00 Million | $541.62 Million | $400.31 Million | $671.30 Million | ▲ +17.8 pp |
| 2001 | -67.8% | $-362.71 Million | $534.70 Million | $220.35 Million | $583.06 Million | ▼ -14.8 pp |
| 2000 | -53.0% | $-169.85 Million | $320.31 Million | $419.01 Million | $588.86 Million | ▼ -41.9 pp |
| 1999 | -11.2% | $-24.20 Million | $216.60 Million | $181.20 Million | $205.40 Million | ▼ -29.5 pp |
| 1998 | 18.3% | $37.90 Million | $206.70 Million | $140.50 Million | $102.60 Million | ▲ +3.6 pp |
| 1997 | 14.7% | $30.20 Million | $205.40 Million | $84.00 Million | $53.80 Million | ▲ +2.9 pp |
| 1996 | 11.9% | $22.90 Million | $193.20 Million | $51.00 Million | $28.10 Million | ▲ +5.9 pp |
| 1995 | 6.0% | $10.90 Million | $182.30 Million | $40.80 Million | $29.90 Million | ▲ +9.9 pp |
| 1994 | -3.9% | $-6.90 Million | $175.40 Million | $61.50 Million | $68.40 Million | — |