Avista vs Black Hills
Black Hills reported revenue of $2.3 billion in fiscal 2025, 1.2 times Avista's $2.0 billion in fiscal 2025. Avista's revenue grew 1.3% in its latest year, and Black Hills' grew 8.6%. Avista had an operating margin of 18.0%, against 23.3% at Black Hills. Free cash flow was −$101 million at Avista and −$146 million at Black Hills.
Side by side
| Avista | Black Hills | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $2.0B | $2.3B |
| Revenue growth | 1.3% | 8.6% |
| Revenue growth a year, last 5 years | 8.2% | 6.4% |
| Gross margin | — | — |
| Operating margin | 18.0% | 23.3% |
| Net margin | 9.8% | 12.6% |
| Free cash flow | −$101M | −$146M |
| Free cash flow margin | −5.1% | −6.3% |
| Return on capital | — | 5.7% |
| Net debt to EBITDA | — | 5.5x |
| Dividends and buybacks | $159M | $198M |
| Change in diluted share count | 2.8% | 4.7% |
| Last close | $37.23 | $80.20 |
| P/E at the last close | 13.4× | 20.2× |
| Insider trades, last 12 months | sold $692,716 | sold $1.3 million |
| Piotroski F-score | — | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AvistaBlack Hills
Operating margin
Percent of revenue
AvistaBlack Hills
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AvistaBlack Hills
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Avista and Black Hills pages.