$71.90
+0.60%Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines. The Gas Utilities segment distributes natural gas to approximately 1,094,000 natural gas utility customers in Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming; owns and operates 4,732 miles of intrastate gas transmission pipelines; 41,644 miles of gas distribution mains and service lines; six natural gas storage sites; and approximately 50,000 horsepower of compression and 515 miles of gathering lines. The company also constructs and maintains gas infrastructure facilities for gas transportation customers; and provides appliance repair services to residential utility customers, as well as electrical system construction services to large industrial customers. In addition, it produces electric power through wind, natural gas, and coal-fired generating plants; and coal at its coal mine located near Gillette, Wyoming. The company was incorporated in 1941 and is headquartered in Rapid City, South Dakota.
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.
BKH โข NYSE
| Black Hills Corporation Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||||
299.8M | 283.7M | 262.2M | 270.8M | 251.3M | 242.8M | 213.3M | 279.5M | 208.4M | 82.6M | -32.1M | 128.8M | 115.8M | 88.5M | 40.4M | 68.7M | 78.8M | 105.1M | 98.8M | 81M | |
283.8M | 270.1M | 256.8M | 250.9M | 245.5M | 243.3M | 241.3M | 204.9M | 217.6M | 310.3M | 430M | 162.9M | 132.4M | 195.4M | 156.1M | 132.8M | 140.2M | 0.0 | 0.0 | 0.0 | |
54.3M | 52M | 25.4M | 25.6M | 7.3M | 38.1M | 38M | -24.2M | 81M | 36.2M | -26M | 69M | 63.8M | 39.7M | 33.6M | 19.2M | 39.7M | 2.1M | 31.4M | 33.2M | |
11.8M | 10.6M | 7M | 8.6M | 9.7M | 5.4M | 12.1M | 12.4M | 7.6M | 10.9M | 4.1M | 9.3M | 12.6M | 8.3M | 5.6M | 5.8M | 4M | 0.0 | 0.0 | 0.0 | |
3.4M | -3.4M | 10.2M | -4.5M | 14.2M | 11.5M | 17.6M | 7.7M | -32.6M | -41.6M | -17.7M | 7.1M | 4.4M | -24.3M | 20.8M | -11.6M | -22.9M | 120.1M | 93.7M | 98.8M | |
(0.0) | (0.0) | (1M) | (771K) | (1.5M) | (2.2M) | (4.7M) | (0.0) | (1.8M) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (33M) | (14.2M) | (2.7M) | |
20.3M | 106.3M | 382.8M | 33.4M | -592.4M | 818K | -16.8M | 8.6M | -53.7M | -78M | 69.8M | -53.6M | -4.4M | 9.4M | -32.8M | -67.2M | 30.7M | -81.6M | 28.2M | 46.6M | |
673.4M | 719.3M | 944.4M | 584.8M | -64.6M | 541.9M | 505.5M | 488.8M | 428.3M | 320.5M | 428M | 323.5M | 324.6M | 317M | 223.7M | 147.8M | 270.5M | 145.6M | 252.1M | 259.7M | |
INVESTING ACTIVITIES | ||||||||||||||||||||
-819.8M | -744.2M | -555.6M | -604.4M | -677.5M | -767.4M | -818.4M | -457.5M | -326M | -474.8M | -455.5M | -398.5M | -354.7M | -349.1M | -440.7M | -472.7M | -346.9M | -328.9M | -261.4M | -308.5M | |
(0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -907.9M | -22M | (0.0) | (0.0) | (107.5M) | (0.0) | (0.0) | (0.0) | -102.8M | (0.0) | (40.7M) | |
(0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -24.4M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 583K | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |
-8.4M | -1.8M | 18.9M | 500K | 13.3M | 5.7M | 2.2M | 16.1M | 8.3M | -1.1B | -20.9M | -2.7M | 5.5M | 252.8M | -6.9M | 83.5M | 77M | -25.3M | 1.1M | -382K | |
-828.2M | -746M | -536.7M | -603.9M | -664.2M | -761.7M | -816.2M | -465.8M | -317.7M | -1.6B | -476.4M | -401.1M | -349.3M | (11.2M) | -447M | -389.2M | -269.8M | -457.1M | -260.3M | -268.1M | |
FINANCING ACTIVITIES | ||||||||||||||||||||
219.2M | 181.4M | 118.3M | 90.1M | 119M | 99.3M | 101.4M | 300.8M | 4.4M | 121.6M | 538.8M | 3.3M | 4.4M | 4.7M | 123M | 3.2M | 4.8M | 2.7M | 150.8M | 4.1M | |
316.2M | -16.2M | -260.6M | 115.4M | 777.7M | 275.9M | 358.1M | -154.7M | 9M | 623.1M | 26.8M | 140.3M | 159.6M | -308.1M | 187.6M | 224.6M | 1.6M | 536.5M | -33.5M | 54M | |
-197.9M | -182.3M | -168.1M | -156.7M | -145M | -135.4M | -124.6M | -106.6M | -96.7M | -87.6M | -72.6M | -69.6M | -67.6M | -65.3M | -59.2M | -56.5M | -55.2M | -53.7M | -50.3M | -44M | |
-15.7M | -25.8M | -31.3M | -16.5M | -19.8M | -22.9M | -34.6M | -56.6M | -25.3M | 305.5M | -9.3M | 17.2M | -79.3M | -2.8M | -1.8M | -10.4M | -7.6M | -86.8M | -15M | -2.3M | |
321.8M | -42.9M | -341.7M | 32.3M | 731.9M | 216.9M | 300.2M | -17.1M | -108.7M | 841M | 483.7M | 91.1M | 17M | -371.4M | 249.6M | 161M | -56.3M | 398.7M | 51.9M | 11.7M | |
CASH FLOW SUMMARY | ||||||||||||||||||||
167M | -69.6M | 66M | 13.2M | 3.1M | -2.9M | -10.5M | 5.9M | 1.9M | -427.3M | 435.3M | 13.4M | -7.6M | -43.3M | 26.3M | -80.5M | -55.6M | 87.3M | 43.7M | 3.3M | |
23.4M | 93M | 27M | 13.8M | 10.7M | 13.7M | 24.1M | 18.2M | 13.5M | 440.9M | 21.2M | 7.8M | 15.5M | 58.8M | 32.4M | 112.9M | 168.5M | 81.3M | 37.5M | 34.2M | |
190.4M | 23.4M | 93M | 27M | 13.8M | 10.7M | 13.7M | 24.1M | 15.4M | 13.6M | 456.5M | 21.2M | 7.8M | 15.5M | 58.8M | 32.4M | 112.9M | 168.5M | 81.3M | 37.5M | |
-146.4M | -24.9M | 388.8M | -19.6M | -742.1M | -225.5M | -312.9M | 31.3M | 102.3M | -154.3M | -27.5M | -75M | -30.1M | -32.2M | -217M | -324.9M | -76.4M | -183.3M | -9.3M | -48.8M |
BKH - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 15, 2026 | May 15, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 07, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 06, 2026 | May 06, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 01, 2026 | April 29, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 02, 2026 | April 02, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | March 18, 2026 | April 29, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 19, 2026 | February 19, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 11, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | February 04, 2026 | February 04, 2026 | 2026 | |
S-4 S-4 N/A | January 30, 2026 | January 30, 2026 | ย |
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