Basis: Latest stored market observation. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 12.20x is in line with its 5-year average of 12.04x, around the middle of its 5-year range (10.44x–14.98x).
As of Tuesday, August 4, 2026. 3.19% above its 12-month average of 11.82x.
EV/EBITDA RATIO
12.20x
EV/EBITDA RATIO AVG TTM
11.82x
EV/EBITDA RATIO AVG 3Y
11.28x
EV/EBITDA RATIO AVG 5Y
12.04x
EV/EBITDA RATIO AVG 10Y
12.13x
EV/EBITDA RATIO AVG 15Y
11.32x
EV/EBITDA RATIO AVG 20Y
10.71x
CURRENT VS TTM AVG
+3.19%
CURRENT VS 3Y AVG
+8.18%
CURRENT VS 5Y AVG
+1.30%
CURRENT VS 10Y AVG
+0.60%
CURRENT VS 15Y AVG
+7.80%
CURRENT VS 20Y AVG
+13.94%
SECTOR MEDIAN · UTILITIES
12.34x
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-1.17%
vs the sector median at left
Black Hills Corporation
Market Cap
$5.47B
EV/EBITDA Ratio
12.20x
TTM Avg
11.82x
3Y Avg
11.28x
5Y Avg
12.04x
Market Cap
$3.25B
EV/EBITDA Ratio
10.09x
TTM Avg
10.20x
3Y Avg
10.61x
5Y Avg
11.36x
Market Cap
$2.83B
EV/EBITDA Ratio
N/A
TTM Avg
39.51x
3Y Avg
39.51x
5Y Avg
39.51x
Market Cap
$8.31B
EV/EBITDA Ratio
13.20x
TTM Avg
12.35x
3Y Avg
10.80x
5Y Avg
10.38x
Market Cap
$2.05B
EV/EBITDA Ratio
7.63x
TTM Avg
9.25x
3Y Avg
9.47x
5Y Avg
9.99x
Market Cap
$1.11B
EV/EBITDA Ratio
10.56x
TTM Avg
11.54x
3Y Avg
17.26x
5Y Avg
17.26x
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Black Hills Corporation (BKH) | $5.47B | 12.20x | 11.82x | 11.28x | 12.04x |
| Oklo Inc. (OKLO)vs › | $7.55B | N/A | N/A | N/A | N/A |
| Avista Corporation (AVA)vs › | $3.25B | 10.09x | 10.20x | 10.61x | 11.36x |
| UGI Corporation (UGI)vs › | $7.75B | 9.35x | 9.10x | 10.39x | 9.06x |
| NuScale Power Corporation (SMR)vs › | $2.83B | N/A | N/A | N/A | N/A |
| Fluence Energy, Inc. (FLNC)vs › | $2.83B | N/A | 39.51x | 39.51x | 39.51x |
| Clearway Energy, Inc. (CWEN-A)vs › | $8.31B | 13.20x | 12.35x | 10.80x | 10.38x |
| Northwest Natural Holding Company (NWN)vs › | $2.05B | 7.63x | 9.25x | 9.47x | 9.99x |
| XPLR Infrastructure, LP (XIFR)vs › | $1.11B | 10.56x | 11.54x | 17.26x | 17.26x |
| Brookfield Renewable Partners L.P. (BEP)vs › | $10.12B | 14.29x | 13.44x | 11.56x | 9.91x |
At 12.2, EV/EBITDA is richer than usual, sitting higher than 72% of its 20-year history.
20-year low
6.8
median
10.8
20-year high
34.3
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-08-03 | 12.20x |
| 2026-07-31 | 12.20x |
| 2026-07-30 | 12.29x |
| 2026-07-29 | 12.36x |
| 2026-07-28 | 12.53x |
| 2026-07-27 | 12.52x |
| 2026-07-24 | 12.58x |
| 2026-07-23 | 12.56x |
| 2026-07-22 | 12.55x |
| 2026-07-21 | 12.49x |
| 2026-07-20 | 12.50x |
| 2026-07-17 | 12.51x |
| 2026-07-16 | 12.62x |
| 2026-07-15 | 12.48x |
| 2026-07-14 | 12.60x |
| 2026-07-13 | 12.62x |
| 2026-07-10 | 12.57x |
| 2026-07-09 | 12.39x |
| 2026-07-08 | 12.36x |
| 2026-07-07 | 12.39x |
| 2026-07-06 | 12.29x |
| 2026-07-02 | 12.44x |
| 2026-07-01 | 12.42x |
| 2026-06-30 | 12.49x |
| 2026-06-29 | 12.57x |
| 2026-06-26 | 12.65x |
| 2026-06-25 | 12.49x |
| 2026-06-24 | 12.51x |
| 2026-06-23 | 12.44x |
| 2026-06-22 | 12.36x |
| 2026-06-18 | 12.34x |
| 2026-06-17 | 12.28x |
| 2026-06-16 | 12.41x |
| 2026-06-15 | 12.44x |
| 2026-06-12 | 12.41x |
| 2026-06-11 | 12.25x |
| 2026-06-10 | 12.27x |
| 2026-06-09 | 11.88x |
| 2026-06-08 | 12.29x |
| 2026-06-05 | 12.35x |
| 2026-06-04 | 12.26x |
| 2026-06-03 | 12.22x |
| 2026-06-02 | 12.28x |
| 2026-06-01 | 12.13x |
| 2026-05-29 | 12.35x |
| 2026-05-28 | 12.37x |
| 2026-05-27 | 12.50x |
| 2026-05-26 | 12.53x |
| 2026-05-22 | 12.48x |
| 2026-05-21 | 12.47x |
| 2026-05-20 | 12.44x |
| 2026-05-19 | 12.39x |
| 2026-05-18 | 12.46x |
| 2026-05-15 | 12.35x |
| 2026-05-14 | 12.50x |
| 2026-05-13 | 12.46x |
| 2026-05-12 | 12.49x |
| 2026-05-11 | 12.41x |
| 2026-05-08 | 12.57x |
| 2026-05-07 | 12.57x |
| 2026-05-06 | 12.31x |
| 2026-05-05 | 12.30x |
| 2026-05-04 | 12.40x |
| 2026-05-01 | 12.46x |
| 2026-04-30 | 12.44x |
| 2026-04-29 | 12.35x |
| 2026-04-28 | 12.43x |
| 2026-04-27 | 12.43x |
| 2026-04-24 | 12.33x |
| 2026-04-23 | 12.38x |
| 2026-04-22 | 12.18x |
| 2026-04-21 | 12.27x |
| 2026-04-20 | 12.47x |
| 2026-04-17 | 12.51x |
| 2026-04-16 | 12.58x |
| 2026-04-15 | 12.55x |
| 2026-04-14 | 12.56x |
| 2026-04-13 | 12.15x |
| 2026-04-10 | 12.30x |
| 2026-04-09 | 12.32x |
| 2026-04-08 | 12.30x |
| 2026-04-07 | 12.23x |
| 2026-04-06 | 12.07x |
| 2026-04-02 | 12.03x |
| 2026-04-01 | 11.94x |
| 2026-03-31 | 11.90x |
| 2026-03-30 | 11.87x |
| 2026-03-27 | 11.83x |
| 2026-03-26 | 11.81x |
| 2026-03-25 | 11.85x |
| 2026-03-24 | 11.82x |
| 2026-03-23 | 11.79x |
| 2026-03-20 | 11.75x |
| 2026-03-19 | 12.04x |
| 2026-03-18 | 12.07x |
| 2026-03-17 | 12.10x |
| 2026-03-16 | 12.11x |
| 2026-03-13 | 12.18x |
| 2026-03-12 | 12.01x |
| 2026-03-11 | 11.96x |
| 2026-03-10 | 12.06x |
| 2026-03-09 | 12.19x |
| 2026-03-06 | 12.27x |
| 2026-03-05 | 12.35x |
| 2026-03-04 | 12.48x |
| 2026-03-03 | 12.35x |
| 2026-03-02 | 12.27x |
| 2026-02-27 | 12.29x |
| 2026-02-26 | 12.30x |
| 2026-02-25 | 12.27x |
| 2026-02-24 | 12.29x |
| 2026-02-23 | 12.27x |
| 2026-02-20 | 12.26x |
| 2026-02-19 | 12.24x |
| 2026-02-18 | 12.23x |
| 2026-02-17 | 12.28x |
| 2026-02-13 | 12.32x |
| 2026-02-12 | 12.25x |
| 2026-02-11 | 12.19x |
| 2026-02-10 | 11.94x |
| 2026-02-09 | 11.85x |
| 2026-02-06 | 11.93x |
| 2026-02-05 | 12.12x |
| 2026-02-04 | 12.06x |
| 2026-02-03 | 12.08x |
| 2026-02-02 | 11.94x |
| 2026-01-30 | 11.99x |
| 2026-01-29 | 11.97x |
| 2026-01-28 | 11.91x |
| 2026-01-27 | 12.05x |
| 2026-01-26 | 11.96x |
| 2026-01-23 | 11.87x |
| 2026-01-22 | 11.93x |
| 2026-01-21 | 12.02x |
| 2026-01-20 | 11.95x |
| 2026-01-16 | 12.02x |
| 2026-01-15 | 12.00x |
| 2026-01-14 | 11.91x |
| 2026-01-13 | 11.79x |
| 2026-01-12 | 11.77x |
| 2026-01-09 | 11.78x |
| 2026-01-08 | 11.83x |
| 2026-01-07 | 11.89x |
| 2026-01-06 | 11.66x |
| 2026-01-05 | 11.66x |
| 2026-01-02 | 11.69x |
| 2025-12-31 | 11.67x |
| 2025-12-30 | 11.68x |
| 2025-12-29 | 11.70x |
| 2025-12-26 | 11.66x |
| 2025-12-24 | 11.67x |
| 2025-12-23 | 11.64x |
| 2025-12-22 | 11.62x |
| 2025-12-19 | 11.49x |
| 2025-12-18 | 11.62x |
| 2025-12-17 | 11.77x |
| 2025-12-16 | 11.78x |
| 2025-12-15 | 11.91x |
| 2025-12-12 | 11.96x |
| 2025-12-11 | 11.90x |
| 2025-12-10 | 11.83x |
| 2025-12-09 | 11.77x |
| 2025-12-08 | 11.73x |
| 2025-12-05 | 11.71x |
| 2025-12-04 | 11.72x |
| 2025-12-03 | 11.82x |
| 2025-12-02 | 11.88x |
| 2025-12-01 | 11.94x |
| 2025-11-28 | 12.06x |
| 2025-11-26 | 11.99x |
| 2025-11-25 | 11.90x |
| 2025-11-24 | 11.82x |
| 2025-11-21 | 11.73x |
| 2025-11-20 | 11.72x |
| 2025-11-19 | 11.69x |
| 2025-11-18 | 11.75x |
| 2025-11-17 | 11.68x |
| 2025-11-14 | 11.71x |
| 2025-11-13 | 11.75x |
| 2025-11-12 | 11.92x |
| 2025-11-11 | 11.90x |
| 2025-11-10 | 11.82x |
| 2025-11-07 | 11.69x |
| 2025-11-06 | 11.52x |
| 2025-11-05 | 11.27x |
| 2025-11-04 | 11.26x |
| 2025-11-03 | 11.20x |
| 2025-10-31 | 11.16x |
| 2025-10-30 | 11.18x |
| 2025-10-29 | 11.19x |
| 2025-10-28 | 11.33x |
| 2025-10-27 | 11.38x |
| 2025-10-24 | 11.40x |
| 2025-10-23 | 11.34x |
| 2025-10-22 | 11.32x |
| 2025-10-21 | 11.26x |
| 2025-10-20 | 11.28x |
| 2025-10-17 | 11.13x |
| 2025-10-16 | 11.06x |
| 2025-10-15 | 11.03x |
| 2025-10-14 | 10.94x |
| 2025-10-13 | 10.85x |
| 2025-10-10 | 10.88x |
| 2025-10-09 | 10.94x |
| 2025-10-08 | 11.01x |
| 2025-10-07 | 10.96x |
| 2025-10-06 | 10.89x |
| 2025-10-03 | 10.86x |
| 2025-10-02 | 10.82x |
| 2025-10-01 | 10.89x |
| 2025-09-30 | 10.99x |
| 2025-09-29 | 10.95x |
| 2025-09-26 | 10.93x |
| 2025-09-25 | 10.85x |
| 2025-09-24 | 10.85x |
| 2025-09-23 | 10.80x |
| 2025-09-22 | 10.75x |
| 2025-09-19 | 10.72x |
| 2025-09-18 | 10.73x |
| 2025-09-17 | 10.71x |
| 2025-09-16 | 10.70x |
| 2025-09-15 | 10.80x |
| 2025-09-12 | 10.79x |
| 2025-09-11 | 10.79x |
| 2025-09-10 | 10.73x |
| 2025-09-09 | 10.72x |
| 2025-09-08 | 10.71x |
| 2025-09-05 | 10.82x |
| 2025-09-04 | 10.81x |
| 2025-09-03 | 10.80x |
| 2025-09-02 | 10.81x |
| 2025-08-29 | 10.83x |
| 2025-08-28 | 10.82x |
| 2025-08-27 | 10.88x |
| 2025-08-26 | 10.82x |
| 2025-08-25 | 10.87x |
| 2025-08-22 | 10.94x |
| 2025-08-21 | 10.82x |
| 2025-08-20 | 10.85x |
| 2025-08-19 | 10.93x |
| 2025-08-18 | 10.88x |
| 2025-08-15 | 10.99x |
| 2025-08-14 | 10.99x |
| 2025-08-13 | 10.98x |
| 2025-08-12 | 10.94x |
| 2025-08-11 | 10.88x |
| 2025-08-08 | 10.93x |
| 2025-08-07 | 10.88x |
| 2025-08-06 | 10.83x |
| 2025-08-05 | 10.76x |
| 2025-08-04 | 10.75x |
| 2025-08-01 | 10.65x |
| 2025-07-31 | 10.65x |
| 2025-07-30 | 10.67x |
| 2025-07-29 | 10.61x |
| 2025-07-28 | 10.55x |
| 2025-07-25 | 10.63x |
| 2025-07-24 | 10.59x |
| 2025-07-23 | 10.64x |
| 2025-07-22 | 10.75x |
Showing the most recent 260 of 5,030 data points. The chart above shows the full history.
