Black Hills Corporation
$10.10B- Market cap
- $5.58B
- Debt
- +$4.70B
- Cash
- −$182.80M
Capital structure 54% equity / 46% debt · EV / Revenue 4.37x · EV / EBITDA 13.78x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: BKH stock price at discount vs U $73.21 current versus $300.28 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at U's multiple
Implied fair value · at BKH's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: BKH FY 2025 (ended Dec 31, 2025) · U FY 2025 (ended Dec 31, 2025).
Trendline
Nine fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 54% equity / 46% debt · EV / Revenue 4.37x · EV / EBITDA 13.78x
Capital structure 87% equity / 13% debt · EV / Revenue 10.30x · EV / EBITDA 451.13x
U carries the larger enterprise value at $19.05B against $10.10B; BKH trades on the lower EV / Revenue multiple (4.37x vs 10.30x); BKH on the lower EV / EBITDA (13.78x vs 451.13x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Black Hills Corporation · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
UNITY SOFTWARE INC. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.23x
0.86x
Net debt / EBITDA
Leverage against operating earnings
6.16x
16.88x
Cash and equivalents
Liquid reserves on the balance sheet
$182.80M
$2.06B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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