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. See BKH free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
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. For the full cash flow conversion analysis, see cash efficiency ratio of Black Hills Corporation.
Annual Cash Flow Reinvestment Rate for Black Hills Corporation (1994–2025)
Year-by-year capital reinvestment analysis for Black Hills Corporation. See financial flexibility index of Black Hills Corporation to measure the company's free cash flow as a share of total liabilities.
| 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 | — |