Black Hills Corporation (BKH) — 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 balance sheet independence to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Black Hills Corporation Capital Reinvestment Ratio (1994–2025)
This chart tracks Black Hills Corporation's Capital Reinvestment Ratio across 31 annual periods. Check Black Hills Corporation (BKH) total reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
Annual Capital Reinvestment Ratio for Black Hills Corporation (1994–2025)
Year-by-year Capital Reinvestment Ratio for Black Hills Corporation from 1994 to 2025. For live market cap and broader valuation context, see BKH company net worth.
| 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 | — |