Black Hills Corporation (BKH) vs Pinnacle West Capital Corporation (PNW)
BKH leads on 9 of 15 compared metrics.
A side-by-side comparison of Black Hills Corporation and Pinnacle West Capital Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 25, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).
BKH
Black Hills Corporation
$74.56Utilities
PNW
Pinnacle West Capital Corporation
$105.37Utilities
Total return — BKH vs PNW
growth of $100 · last 30yBKH +371.0%PNW +276.3%BKH compounded faster
BKH PNW
BKH vs PNW: by the numbers
- •PNW is the larger company ($12.89B vs $5.68B market cap).
- •BKH trades at the lower earnings multiple (19.42 vs 19.66 P/E).
- •BKH converts more revenue to profit (12.61% vs 11.99% net margin).
- •PNW grew revenue faster over the past five years (8.55% vs 4.97% CAGR).
- •BKH pays the higher dividend yield (3.70% vs 3.44%).
Which is better, BKH or PNW?
Metric tally: BKH 9 · PNW 6It depends on what you're optimizing for:
GrowthPNW(faster 5Y revenue CAGR)
IncomeBKH(higher dividend yield)
QualityBKH(higher ROIC)
Metrics side by side
Valuation
| Metric | BKH | PNW |
|---|---|---|
| P/E ratio | 19.42 | 19.66 |
| Forward P/E | 16.17● | 18.98 |
| P/S ratio | 2.47 | 2.39● |
| P/B ratio | 1.43● | 1.85 |
| PEG ratio | 8.50● | 18.90 |
| EV / EBITDA | 12.37● | 12.91 |
Profitability
| Metric | BKH | PNW |
|---|---|---|
| Gross margin | 35.66% | 40.72%● |
| Operating margin | 23.30% | 27.54%● |
| Net margin | 12.61%● | 11.99% |
| ROE | 7.31% | 9.25%● |
| ROIC | 4.63%● | 3.18% |
Dividends
| Metric | BKH | PNW |
|---|---|---|
| Dividend yield | 3.70%● | 3.44% |
| Payout ratio | 69.12% | 70.39% |
Growth (annualized)
| Metric | BKH | PNW |
|---|---|---|
| Revenue CAGR (5Y) | 4.97% | 8.55%● |
| EPS CAGR (5Y) | 1.80%● | 1.04% |
| FCF CAGR (5Y) | 20.20%● | -32.59% |
| Total return CAGR (5Y) | 6.18% | 9.90%● |
Frequently asked
- Which is better, BKH or PNW?
- It depends on your goal. growth: PNW (faster 5Y revenue CAGR); income: BKH (higher dividend yield); quality: BKH (higher ROIC). Across all compared metrics, BKH leads 9 to 6.
- Is BKH or PNW cheaper?
- On trailing earnings, BKH is cheaper: BKH trades at a 19.42 P/E and PNW at 19.66.
- Which has grown faster, BKH or PNW?
- Over the past five years, PNW grew revenue faster — BKH at a 4.97% CAGR versus PNW at 8.55%.
- Does BKH or PNW pay a bigger dividend?
- BKH yields 3.70% and PNW yields 3.44% based on trailing dividends and the latest price.
- Is BKH or PNW more profitable?
- BKH runs the higher net margin — BKH at 12.61% versus PNW at 11.99%.
- Which has been the better investment, BKH or PNW?
- Over the past 10-year, PNW delivered the higher annualized total return — BKH at 5.57% versus PNW at 7.30%. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Black Hills P/E ratioPinnacle West Capital P/E ratioBlack Hills dividend yieldPinnacle West Capital dividend yieldBlack Hills ROEPinnacle West Capital ROEBlack Hills operating marginPinnacle West Capital operating marginBlack Hills revenue growthPinnacle West Capital revenue growthBlack Hills free cash flowPinnacle West Capital free cash flow
Black Hills & Pinnacle West Capital appear in these rankings
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 25, 2026.