Black Hills Corporation (BKH) quarterly cash flow statement — complete operating, investing & financing history
Black Hills Corporation (BKH) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 |
|---|
| Cash from Operations | 171.3M | 195.1M | 176.2M | 168.1M | 88.9M | 188.6M | 227.8M | 153.2M | 102.1M | 230.6M | 233.4M | 188.35M | 150.9M | 276.4M | 328.7M | 90.51M | 52.26M | 177.91M | 264.12M | 80.19M |
| Operating CF Growth % | 92.69% | 3.45% | -22.65% | 9.73% | -12.93% | -18.21% | -2.4% | -18.66% | -32.34% | -16.57% | -28.99% | 108.09% | 188.77% | 55.36% | 24.45% | 12.87% | -50.43% | 30.9% | 168.41% | -34.48% |
| Operating CF / Revenue % | 36.75% | 43.09% | 22.57% | 26.45% | 20.66% | 42.96% | 28.29% | 25.66% | 25.42% | 57.28% | 32.13% | 31.83% | 37.07% | 67.2% | 35.68% | 11.44% | 11.3% | 37.52% | 32.07% | 14.26% |
| Net Income | 45.7M | 40.4M | 131M | 108.7M | 25.9M | 28.8M | 136.4M | 101.1M | 26.4M | 24.6M | 131.6M | 79.6M | 48.8M | 26.5M | 114.1M | 76.05M | 37.83M | 35.85M | 121.02M | 74.32M |
| Depreciation & Amortization | -150.1M | 75.3M | 74.8M | 73.3M | 71.5M | 69.8M | 69.2M | 68.3M | 69.3M | 66.6M | 65.9M | 65.6M | 64.8M | 64.8M | 61.6M | 126.32M | 64.02M | 64.13M | 60.46M | 63.89M |
| Deferred Taxes | -35.1M | 3.3M | 31.8M | 13.7M | 3.1M | 4.3M | 33.2M | 12.4M | 3M | 19.9M | 16.7M | 9.29M | 6.9M | -5.7M | 14.9M | 9.53M | 2.2M | -602K | 14.46M | 1.42M |
| Other Non-Cash Items | 325.8M | -11.1M | 10.8M | -3.2M | -4.6M | 4.1M | 7.1M | -2.7M | 4.5M | -7.7M | 2.5M | 19.22M | -3.7M | -4.5M | 4M | -56.41M | -2.08M | -20.84M | 10.67M | 8.97M |
| Working Capital Changes | -11.8M | 84M | -72.2M | -28.2M | -9.3M | 78.5M | -20.7M | -28.3M | -3.9M | 124.2M | 14.3M | 12.2M | 33.8M | 192.8M | 132.3M | -66.75M | -52.66M | 98.97M | 53.86M | -70.82M |
| Capital Expenditures | 485.5M | -218.1M | -267.4M | -269.6M | -178.4M | -218.9M | -152.9M | -213.7M | -188.1M | -166.2M | -176.2M | -133.83M | -160.1M | -142.6M | -119.1M | -138.06M | -172.5M | -157.02M | -136.78M | -179.64M |
| CapEx / Revenue % | 104.16% | 48.17% | 34.25% | 42.42% | 41.47% | 49.86% | 18.99% | 35.79% | 46.84% | 41.28% | 24.26% | 22.62% | 39.33% | 34.67% | 12.93% | 17.44% | 37.29% | 33.11% | 16.61% | 31.94% |
| CapEx / D&A | -3.23x | 2.90x | 3.57x | 3.68x | 2.50x | 3.14x | 2.21x | 3.13x | 2.71x | 2.50x | 2.67x | 2.04x | 2.47x | 2.20x | 1.93x | 1.09x | 2.69x | 2.45x | 2.26x | 2.81x |
| CapEx Coverage (OCF/CapEx) | 0.35x | 0.89x | 0.66x | 0.62x | 0.50x | 0.86x | 1.49x | 0.72x | 0.54x | 1.39x | 1.32x | 1.41x | 0.94x | 1.94x | 2.76x | 0.66x | 0.30x | 1.13x | 1.93x | 0.45x |
| Cash from Investing | 492.1M | -222.1M | -270M | -271.8M | -180.2M | -221M | -155.2M | -214M | -191.3M | -163.8M | -176.9M | -132.91M | -158.4M | -143.9M | -101.5M | -137.56M | -174.94M | -153.54M | -137.84M | -180.12M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 6.6M | -4M | -2.6M | -2.2M | -1.8M | -2.1M | -2.3M | -300K | -3.2M | 2.4M | -700K | 915K | 1.7M | -1.3M | 17.6M | 504K | -2.44M | 3.48M | -1.06M | -481K |
| Cash from Financing | -9.9M | 75.1M | -65.2M | 265M | 104.6M | 34.1M | -81.9M | 64.6M | -522.9M | 435.2M | -19.8M | -562.95M | 449.4M | -19M | -209.1M | 56.94M | 124.41M | -30.35M | -118.74M | 98.81M |
| Dividends Paid | -106.6M | -53.5M | -53.1M | -51.1M | -49.2M | -49M | -48.6M | -46.5M | -46.5M | -44.9M | -44.4M | -42.65M | -42.3M | -41.7M | -41.4M | -40.85M | -38.71M | -38.6M | -38.53M | -38.07M |
| Dividend Payout Ratio % | - | 140.05% | 40.53% | 48.71% | 197.59% | 178.18% | 36.19% | 47.4% | 190.57% | 196.93% | 34.71% | 53.53% | 93.17% | 180.52% | 36.28% | 56.37% | 110.7% | 115.53% | 32.79% | 53.5% |
| Debt Issuance (Net) | 0 | 1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | 1000K | 0 | -1000K | 1000K | 0 | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K |
| Stock Issued | -50.1M | 9.4M | 40.7M | 0 | 154.2M | 19.4M | 45.6M | -200K | 108.6M | 41.8M | 31.2M | 10.92M | 52.7M | 27.3M | 27.4M | 70.02M | -68K | 16.3M | 3.79M | 56M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 96.7M | -3.6M | -5M | -7.9M | -2.7M | -100K | -5M | -5M | -2.5M | -11.7M | -6.6M | -6.22M | -11M | -4.6M | -9.5M | -6.46M | -3.11M | -1.62M | -5.3M | -6.79M |
| Net Change in Cash | 0 | 48.1M | -159M | 161.3M | 13.3M | 1.7M | -9.3M | 3.8M | -612.1M | 502M | 36.7M | -507.5M | 441.9M | 113.5M | 18.1M | 9.89M | 1.73M | -5.99M | 7.54M | -1.12M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 79.5M | 31.4M | 190.4M | 29.1M | 15.8M | 14.1M | 23.4M | 19.6M | 631.7M | 129.7M | 93M | 600.5M | 158.6M | 45.1M | 27M | 17.09M | 15.36M | 21.35M | 13.81M | 14.93M |
| Cash at End | 0 | 79.5M | 31.4M | 190.4M | 29.1M | 15.8M | 14.1M | 23.4M | 19.6M | 631.7M | 129.7M | 93M | 600.5M | 158.6M | 45.1M | 26.98M | 17.09M | 15.36M | 21.35M | 13.81M |
| Free Cash Flow | 656.8M | -23M | -91.2M | -101.5M | -89.5M | -30.3M | 74.9M | -60.5M | -86M | 64.4M | 57.2M | 54.52M | -9.2M | 133.8M | 209.6M | -47.55M | -120.24M | 20.89M | 127.34M | -99.45M |
| FCF Growth % | 833.85% | 24.09% | -221.76% | -67.77% | -4.07% | -147.05% | 30.94% | -210.97% | -834.78% | -51.87% | -72.71% | 214.66% | 92.35% | 540.65% | 64.6% | 52.19% | -64.81% | 156.05% | 123.92% | 8.77% |
| FCF Margin % | 140.91% | -5.08% | -11.68% | -15.97% | -20.8% | -6.9% | 9.3% | -10.13% | -21.41% | 16% | 7.87% | 9.21% | -2.26% | 32.53% | 22.75% | -6.01% | -25.99% | 4.4% | 15.46% | -17.68% |
| FCF / Net Income % | 1601.95% | -60.21% | -69.62% | -96.76% | -359.44% | -110.18% | 55.77% | -61.67% | -352.46% | 282.46% | 44.72% | 68.42% | -20.26% | 579.22% | 183.7% | -65.61% | -343.81% | 62.5% | 108.35% | -139.76% |