Black Hills Corporation Capital Reinvestment Ratio
Black Hills Corporation capital reinvestment ratio. Black Hills Corporation (BKH) has a Capital Reinvestment Ratio of 1.52x as of March 2026, meaning it reinvests 2% of its operating cash flow ($176.20 Million) in capital expenditures ($267.40 Million). See Black Hills Corporation (BKH) FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of Black Hills Corporation (1994–2025)
Capital reinvestment ratio of Black Hills Corporation from 1994 to 2025. This chart tracks Black Hills Corporation's Capital Reinvestment Ratio across 31 annual periods. See BKH free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
Black Hills Corporation Capital Reinvestment Ratio by Year (1994–2025)
Black Hills Corporation capital reinvestment ratio by year from 1994 to 2025. For the full cash flow conversion analysis, see BKH cash flow metrics.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.22x | $673.40 Million | $819.80 Million | ▲ +17.7% |
| 2024 | 1.03x | $719.30 Million | $744.20 Million | ▲ +75.9% |
| 2023 | 0.59x | $944.40 Million | $555.60 Million | ▼ -43.1% |
| 2022 | 1.03x | $584.80 Million | $604.37 Million | ▼ -27.0% |
| 2020 | 1.42x | $541.86 Million | $767.40 Million | ▼ -12.5% |
| 2019 | 1.62x | $505.51 Million | $818.38 Million | ▲ +73.0% |
| 2018 | 0.94x | $488.81 Million | $457.52 Million | ▲ +23.0% |
| 2017 | 0.76x | $428.26 Million | $326.01 Million | ▼ -48.6% |
| 2016 | 1.48x | $320.46 Million | $474.78 Million | ▲ +39.2% |
| 2015 | 1.06x | $428.00 Million | $455.48 Million | ▼ -13.6% |
| 2014 | 1.23x | $323.46 Million | $398.49 Million | ▲ +12.7% |
| 2013 | 1.09x | $324.63 Million | $354.75 Million | ▼ -0.8% |
| 2012 | 1.10x | $316.97 Million | $349.13 Million | ▼ -44.1% |
| 2011 | 1.97x | $223.70 Million | $440.70 Million | ▼ -38.4% |
| 2010 | 3.20x | $147.75 Million | $472.68 Million | ▲ +149.5% |
| 2009 | 1.28x | $270.50 Million | $346.87 Million | ▼ -43.2% |
| 2008 | 2.26x | $145.64 Million | $328.92 Million | ▲ +117.8% |
| 2007 | 1.04x | $252.08 Million | $261.37 Million | ▼ -12.7% |
| 2006 | 1.19x | $259.69 Million | $308.45 Million | ▲ +49.8% |
| 2005 | 0.79x | $174.85 Million | $138.63 Million | ▲ +19.1% |
| 2004 | 0.67x | $136.68 Million | $90.97 Million | ▲ +25.7% |
| 2003 | 0.53x | $170.57 Million | $90.35 Million | ▼ -50.3% |
| 2002 | 1.07x | $218.77 Million | $233.07 Million | ▼ -50.1% |
| 2001 | 2.13x | $177.40 Million | $378.48 Million | ▲ +17.8% |
| 2000 | 1.81x | $74.47 Million | $134.85 Million | ▲ +31.6% |
| 1999 | 1.38x | $75.70 Million | $104.20 Million | ▲ +175.8% |
| 1998 | 0.50x | $54.70 Million | $27.30 Million | ▼ -1.2% |
| 1997 | 0.51x | $56.00 Million | $28.30 Million | ▲ +14.7% |
| 1996 | 0.44x | $55.40 Million | $24.40 Million | ▼ -58.6% |
| 1995 | 1.06x | $45.30 Million | $48.20 Million | ▼ -48.3% |
| 1994 | 2.06x | $48.90 Million | $100.70 Million | — |