Black Hills Corporation (BKH) — Cash Flow Reinvestment Rate
Black Hills Corporation (BKH) has a Cash Flow Reinvestment Rate of 1.52x as of March 2026, reinvesting $267.40 Million (capex $267.40 Million ) from operating cash flow of $176.20 Million. Check how high is Black Hills Corporation's earnings quality to evaluate the quality of earnings relative to operating cash generation.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
Black Hills Corporation Cash Flow Reinvestment Rate (1994–2025)
Historical reinvestment intensity for Black Hills Corporation across 31 annual periods. Explore long-term investment intensity of Black Hills Corporation to see how much of total assets are deployed in long-term investments.
Annual Cash Flow Reinvestment Rate for Black Hills Corporation (1994–2025)
Year-by-year capital reinvestment analysis for Black Hills Corporation. For live market cap and broader valuation context, see BKH market cap.
| Year | Reinvestment Rate | Total Reinvested (USD) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2025 | 1.22x | $819.80 Million | $673.40 Million | $819.80 Million | ▼ -41.2% |
| 2024 | 2.07x | $1.49 Billion | $719.30 Million | $744.20 Million | ▲ +78.4% |
| 2023 | 1.16x | $1.10 Billion | $944.40 Million | $555.60 Million | ▼ -43.8% |
| 2022 | 2.07x | $1.21 Billion | $584.80 Million | $604.37 Million | ▼ -26.8% |
| 2020 | 2.82x | $1.53 Billion | $541.86 Million | $767.40 Million | ▼ -12.7% |
| 2019 | 3.23x | $1.63 Billion | $505.51 Million | $818.38 Million | ▲ +228.0% |
| 2018 | 0.99x | $481.95 Million | $488.81 Million | $457.52 Million | ▼ -34.4% |
| 2017 | 1.50x | $643.67 Million | $428.26 Million | $326.01 Million | ▼ -76.7% |
| 2016 | 6.44x | $2.06 Billion | $320.46 Million | $474.78 Million | ▲ +474.3% |
| 2015 | 1.12x | $479.91 Million | $428.00 Million | $455.48 Million | ▼ -9.0% |
| 2014 | 1.23x | $398.49 Million | $323.46 Million | $398.49 Million | ▲ +12.7% |
| 2013 | 1.09x | $354.75 Million | $324.63 Million | $354.75 Million | ▼ -0.8% |
| 2012 | 1.10x | $349.13 Million | $316.97 Million | $349.13 Million | ▼ -44.1% |
| 2011 | 1.97x | $440.70 Million | $223.70 Million | $440.70 Million | ▼ -38.4% |
| 2010 | 3.20x | $472.68 Million | $147.75 Million | $472.68 Million | ▲ +149.5% |
| 2009 | 1.28x | $346.87 Million | $270.50 Million | $346.87 Million | ▼ -43.2% |
| 2008 | 2.26x | $328.92 Million | $145.64 Million | $328.92 Million | ▲ +117.8% |
| 2007 | 1.04x | $261.37 Million | $252.08 Million | $261.37 Million | ▼ -12.7% |
| 2006 | 1.19x | $308.45 Million | $259.69 Million | $308.45 Million | ▲ +49.8% |
| 2005 | 0.79x | $138.63 Million | $174.85 Million | $138.63 Million | ▲ +19.1% |
| 2004 | 0.67x | $90.97 Million | $136.68 Million | $90.97 Million | ▲ +25.7% |
| 2003 | 0.53x | $90.35 Million | $170.57 Million | $90.35 Million | ▼ -50.3% |
| 2002 | 1.07x | $233.07 Million | $218.77 Million | $233.07 Million | ▼ -50.1% |
| 2001 | 2.13x | $378.48 Million | $177.40 Million | $378.48 Million | ▲ +17.8% |
| 2000 | 1.81x | $134.85 Million | $74.47 Million | $134.85 Million | ▲ +31.6% |
| 1999 | 1.38x | $104.20 Million | $75.70 Million | $104.20 Million | ▲ +175.8% |
| 1998 | 0.50x | $27.30 Million | $54.70 Million | $27.30 Million | ▼ -1.2% |
| 1997 | 0.51x | $28.30 Million | $56.00 Million | $28.30 Million | ▲ +14.7% |
| 1996 | 0.44x | $24.40 Million | $55.40 Million | $24.40 Million | ▼ -58.6% |
| 1995 | 1.06x | $48.20 Million | $45.30 Million | $48.20 Million | ▼ -48.3% |
| 1994 | 2.06x | $100.70 Million | $48.90 Million | $100.70 Million | — |