Is BKH or NI cheaper?

On trailing earnings, BKH is cheaper: BKH trades at a 18.95 P/E and NI at 23.51.

Which has grown faster, BKH or NI?

Over the past five years, NI grew revenue faster — BKH at a 4.97% CAGR versus NI at 8.10%.

Does BKH or NI pay a bigger dividend?

BKH yields 3.79% and NI yields 2.45% based on trailing dividends and the latest price.

Is BKH or NI more profitable?

NI runs the higher net margin — BKH at 12.61% versus NI at 14.10%.

Which has been the better investment, BKH or NI?

Over the past 10-year, NI delivered the higher annualized total return — BKH at 5.26% versus NI at 9.89%. Past performance doesn't predict future results.

Black Hills Corporation (BKH) vs NiSource Inc. (NI)

BKH and NI are evenly matched — 8 metrics each of 16.

A side-by-side comparison of Black Hills Corporation and NiSource Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 20, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

BKH

Black Hills Corporation

Total return — BKH vs NI

growth of $100 · last 30y

BKH +361.9%NI +548.3%NI compounded faster

BKH NI

BKH vs NI: by the numbers

•NI is the larger company ($22.66B vs $5.54B market cap).
•BKH trades at the lower earnings multiple (18.95 vs 23.51 P/E).
•NI converts more revenue to profit (14.10% vs 12.61% net margin).
•NI grew revenue faster over the past five years (8.10% vs 4.97% CAGR).
•BKH pays the higher dividend yield (3.79% vs 2.45%).

Which is better, BKH or NI?

Metric tally: BKH 8 · NI 8

It depends on what you're optimizing for:

ValueBKH(lower P/E)

GrowthNI(faster 5Y revenue CAGR)

IncomeBKH(higher dividend yield)

QualityBKH(higher ROIC)

Metrics side by side

Valuation

Metric	BKH	NI
P/E ratio	18.95●	23.51
Forward P/E	15.77●	21.10
P/S ratio	2.41●	3.33
P/B ratio	1.39●	2.35
PEG ratio	8.50	1.05●
EV / EBITDA	12.21●	12.63

Profitability

Metric	BKH	NI
Gross margin	35.66%	55.92%●
Operating margin	23.30%	27.78%●
Net margin	12.61%	14.10%●
ROE	7.31%	9.96%●
ROIC	4.63%●	4.51%

Dividends

Metric	BKH	NI
Dividend yield	3.79%●	2.45%
Payout ratio	69.12%	59.18%

Growth (annualized)

Metric	BKH	NI
Revenue CAGR (5Y)	4.97%	8.10%●
EPS CAGR (5Y)	1.80%	14.27%●
FCF CAGR (5Y)	20.20%●	-7.40%
Total return CAGR (5Y)	5.65%	17.34%●

Frequently asked

Which is better, BKH or NI?: It depends on your goal. value: BKH (lower P/E); growth: NI (faster 5Y revenue CAGR); income: BKH (higher dividend yield); quality: BKH (higher ROIC). Across all compared metrics, they are evenly matched.
Is BKH or NI cheaper?: On trailing earnings, BKH is cheaper: BKH trades at a 18.95 P/E and NI at 23.51.
Which has grown faster, BKH or NI?: Over the past five years, NI grew revenue faster — BKH at a 4.97% CAGR versus NI at 8.10%.
Does BKH or NI pay a bigger dividend?: BKH yields 3.79% and NI yields 2.45% based on trailing dividends and the latest price.
Is BKH or NI more profitable?: NI runs the higher net margin — BKH at 12.61% versus NI at 14.10%.
Which has been the better investment, BKH or NI?: Over the past 10-year, NI delivered the higher annualized total return — BKH at 5.26% versus NI at 9.89%. Past performance doesn't predict future results.

Go deeper

Full BKH analysis Full NI analysis Interactive comparison tool

Dig into the metrics

Black Hills P/E ratio NiSource P/E ratio Black Hills dividend yield NiSource dividend yield Black Hills ROE NiSource ROE Black Hills operating margin NiSource operating margin Black Hills revenue growth NiSource revenue growth Black Hills free cash flow NiSource free cash flow

Black Hills & NiSource appear in these rankings

Highest Dividend Yield Stocks Dividend Aristocrats

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 20, 2026.