Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 42.92% is 19% above its 5-year average of 36.13%, around the middle of its 5-year range (26.49%–74.93%).
2.96% below its 12-month average of 44.23%.
Reported quarterly gross margin; no daily interpolation. Q2 FY2026 (2026-06-30): 74.93%.
GROSS MARGIN
42.92%
GROSS MARGIN AVG TTM
44.23%
GROSS MARGIN AVG 3Y
38.98%
GROSS MARGIN AVG 5Y
36.13%
GROSS MARGIN AVG 10Y
37.94%
GROSS MARGIN AVG 15Y
37.15%
GROSS MARGIN AVG 20Y
38.50%
CURRENT VS TTM AVG
-2.96%
CURRENT VS 3Y AVG
+10.12%
CURRENT VS 5Y AVG
+18.79%
CURRENT VS 10Y AVG
+13.14%
CURRENT VS 15Y AVG
+15.52%
CURRENT VS 20Y AVG
+11.47%
SECTOR MEDIAN · UTILITIES
41.05%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+4.56%
vs the sector median at left
Black Hills Corporation
Market Cap
$5.36B
Gross Margin
42.92%
TTM Avg
44.23%
3Y Avg
38.98%
5Y Avg
36.13%
Market Cap
$2.03B
Gross Margin
45.17%
TTM Avg
37.03%
3Y Avg
35.59%
5Y Avg
36.57%
Market Cap
$9.13B
Gross Margin
24.45%
TTM Avg
36.47%
3Y Avg
51.03%
5Y Avg
56.24%
Market Cap
$1.03B
Gross Margin
17.33%
TTM Avg
34.81%
3Y Avg
41.75%
5Y Avg
45.94%
Market Cap
$10.58B
Gross Margin
20.29%
TTM Avg
18.46%
3Y Avg
19.24%
5Y Avg
21.53%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Black Hills Corporation (BKH) | $5.36B | 42.92% | 44.23% | 38.98% | 36.13% |
| Oklo Inc. (OKLO)vs › | $6.61B | 0.00% | 0.00% | 0.00% | 0.00% |
| Avista Corporation (AVA)vs › | $3.04B | 24.19% | 41.51% | 49.97% | 55.86% |
| UGI Corporation (UGI)vs › | $8.07B | 46.72% | 50.45% | 41.03% | 46.83% |
| Northwest Natural Holding Company (NWN)vs › | $2.03B | 45.17% | 37.03% | 35.59% | 36.57% |
| Brookfield Renewable Partners L.P. (BEP)vs › | $9.13B | 24.45% | 36.47% | 51.03% | 56.24% |
| Fluence Energy, Inc. (FLNC)vs › | $1.35B | 9.18% | 12.86% | 6.72% | 3.02% |
| XPLR Infrastructure, LP (XIFR)vs › | $1.03B | 17.33% | 34.81% | 41.75% | 45.94% |
| The AES Corporation (AES)vs › | $10.58B | 20.29% | 18.46% | 19.24% | 21.53% |
| Pinnacle West Capital Corporation (PNW)vs › | $11.42B | 25.41% | 33.55% | 36.47% | 39.35% |
Gross Margin
42.9%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-06-30 | 74.93% |
| 2026-03-31 | 27.92% |
| 2025-12-31 | 41.24% |
| 2025-09-30 | 38.91% |
| 2025-06-30 | 38.13% |
| 2025-03-31 | 36.24% |
| 2024-12-31 | 41.67% |
| 2024-09-30 | 40.21% |
| 2024-06-30 | 38.20% |
| 2024-03-31 | 38.02% |
| 2023-12-31 | 37.03% |
| 2023-09-30 | 44.02% |
| 2023-06-30 | 35.06% |
| 2023-03-31 | 27.56% |
| 2022-12-31 | 26.49% |
| 2022-09-30 | 34.51% |
| 2022-06-30 | 32.28% |
| 2022-03-31 | 30.42% |
| 2021-12-31 | 33.74% |
| 2021-09-30 | 43.16% |
| 2021-06-30 | 37.81% |
| 2021-03-31 | 33.25% |
| 2020-12-31 | 40.15% |
| 2020-09-30 | 43.90% |
| 2020-06-30 | 42.21% |
| 2020-03-31 | 41.65% |
| 2019-12-31 | 39.66% |
| 2019-09-30 | 41.60% |
| 2019-06-30 | 35.56% |
| 2019-03-31 | 37.55% |
| 2018-12-31 | 35.22% |
| 2018-09-30 | 39.14% |
| 2018-06-30 | 37.32% |
| 2018-03-31 | 36.78% |
| 2017-12-31 | 40.50% |
| 2017-09-30 | 41.74% |
| 2017-06-30 | 38.55% |
| 2017-03-31 | 38.94% |
| 2016-12-31 | 38.70% |
| 2016-09-30 | 41.49% |
| 2016-06-30 | 39.46% |
| 2016-03-31 | 38.01% |
| 2015-12-31 | 39.09% |
| 2015-09-30 | 40.66% |
| 2015-06-30 | 39.68% |
| 2015-03-31 | 32.47% |
| 2014-12-31 | 31.49% |
| 2014-09-30 | 37.85% |
| 2014-06-30 | 33.36% |
| 2014-03-31 | 29.59% |
| 2013-12-31 | 32.61% |
| 2013-09-30 | 39.19% |
| 2013-06-30 | 33.87% |
| 2013-03-31 | 32.96% |
| 2012-12-31 | 36.48% |
| 2012-09-30 | 41.47% |
| 2012-06-30 | 40.70% |
| 2012-03-31 | 33.16% |
| 2011-12-31 | 48.56% |
| 2011-09-30 | 32.97% |
| 2011-06-30 | 29.04% |
| 2011-03-31 | 47.48% |
| 2010-12-31 | 52.14% |
| 2010-09-30 | 65.16% |
| 2010-06-30 | 61.96% |
| 2010-03-31 | 44.59% |
| 2009-12-31 | 46.79% |
| 2009-09-30 | 58.32% |
| 2009-06-30 | 56.41% |
| 2009-03-31 | 40.40% |
| 2008-12-31 | 46.27% |
| 2008-09-30 | 55.02% |
| 2008-06-30 | 69.37% |
| 2008-03-31 | 69.52% |
| 2007-12-31 | 75.32% |
| 2007-09-30 | 69.94% |
| 2007-06-30 | 75.21% |
| 2007-03-31 | 72.50% |
| 2006-12-31 | 69.85% |
| 2006-09-30 | 69.71% |
| 2006-06-30 | 67.96% |
| 2006-03-31 | 68.51% |
| 2005-12-31 | 30.50% |
| 2005-09-30 | 66.61% |
| 2005-06-30 | 70.81% |
| 2005-03-31 | 69.43% |
| 2004-12-31 | 40.01% |
| 2004-09-30 | 34.91% |
| 2004-06-30 | 32.29% |
| 2004-03-31 | 36.97% |
| 2003-12-31 | 36.88% |
| 2003-09-30 | 55.07% |
| 2003-06-30 | 37.07% |
| 2003-03-31 | 36.57% |
| 2002-12-31 | 88.60% |
| 2002-09-30 | 36.33% |
