Black Hills Corporation (BKH) exhibits 41.0% gross margins and 5.1% return on invested capital within Utilities (Electric Utilities: Central), balanced against a 8.7x enterprise multiple and 5.2% implied options volatility.
Sustained 41.0% gross profitability converts into 23.5% operating margin and 5.1% ROIC, outpacing sector cost of capital.
ROIC: 5.1% // GM: 41.0%YoY revenue trajectory of +9.0% paired with -2.36% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +9.0% // FCF YLD: -2.36%Altman Z-Score of 1.29 and Piotroski F-Score of 7/9 indicate low near-term refinancing stress.
ALTMAN Z: 1.29 // F-SCORE: 7/9Trading at 21.3x trailing P/E (19.8x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 21.3x // EV/EBITDA: 8.7xOptions market prices a ±5.2% implied move with a 0.85 put/call ratio around $80.00 max pain.
IMPL MOVE: ±5.2% // P/C: 0.85Elevated industry capital intensity and customer concentration in Electric Utilities: Central require continuous execution to defend 12.8% net margins.
NET MARGIN: 12.8% // D/E: 1.23x| FILER | SIDE | $ VALUE |
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| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
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| INSPECT GEX & CHAIN IN OPT <GO> | ||
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