Avista vs Black Hills
Black Hills is the larger business, with $2.31bn of revenue in fiscal 2025 against $1.96bn for Avista (1.2 times as much). Black Hills grew faster (8.6% against 1.3%). Black Hills kept more of each dollar of sales as profit: a net margin of 12.6% against 9.8%. Avista carries less debt relative to equity (116.2% against 122.9%).
| Latest fiscal year | AvistaAVA, 2025 | Black HillsBKH, 2025 |
|---|---|---|
| Revenue | $1.96bn | $2.31bn |
| Revenue growth | 1.3% | 8.6% |
| Net income | $193m | $292m |
| Operating margin | 18.0% | 23.3% |
| Net margin | 9.8% | 12.6% |
| Return on equity | 7.3% | 8.0% |
| Free cash flow | −$101m | −$146m |
| Cash | $19.0m | $183m |
| Total debt | $3.15bn | $4.70bn |
| Debt to equity | 116.2% | 122.9% |
| Dividend per share | $1.96 | $2.70 |
| Dividend yield | 5.0% | 3.3% |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $3.21bn | $6.23bn |
| Price vs our value range | — | — |
| Moat score | 34 (Weak) | 40 (Weak) |
| Insider trades, 12 months | 0 buys, 8 sales | 0 buys, 2 sales |