Black Hills (BKH) Capital Expenditures (2009 - 2026)
Black Hills (BKH) posted quarterly Capital Expenditures of $267.4 million for Q1 2026, up 208.06% year-over-year from $86.8 million in Q1 2025, and down 0.82% quarter-over-quarter from $269.6 million in Q4 2025.
Black Hills (BKH) Capital Expenditures (2009 - 2026) Analysis & Trends
Black Hills (BKH) has reported Capital Expenditures for 18 consecutive years, with $267.4 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Capital Expenditures rose 208.06% year-over-year to $267.4 million; the TTM figure through Mar 2026 stood at $1.0 billion (up 673.7% YoY), while the FY2025 annual figure was $819.8 million, up 922.19% from the prior year.
- Capital Expenditures retreated to $267.4 million in Q1 2026 per BKH's latest filing, from $269.6 million in the prior quarter.
- Across five years, Capital Expenditures topped out at $561.7 million in Q4 2022 and bottomed at -$369.4 million in Q4 2023.
- Historically, Capital Expenditures has averaged $107.3 million across 5 years, with a median of $39.6 million in 2022.
- Annual changes were most pronounced in 2022 — Capital Expenditures plunged 658.67% — and 2025, when it soared 5341.11%.
- Black Hills' Capital Expenditures stood at $561.7 million in 2022, then sank by 165.76% to -$369.4 million in 2023, then surged by 104.39% to $16.2 million in 2024, then jumped by 1564.2% to $269.6 million in 2025, then decreased by 0.82% to $267.4 million in 2026.
- Business Quant data shows BKH's Capital Expenditures at $267.4 million in Q1 2026, $269.6 million in Q4 2025, and $471.7 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.25 Bn | 27.72 Bn | - | 1.04 Bn |
| 2 | Nisource | 19.72 Bn | 19.65 Bn | 867.50 Mn | 1.10 Bn |
| 3 | Ugi | 8.08 Bn | 7.60 Bn | 573.00 Mn | 226.00 Mn |
| 4 | Black Hills | 5.45 Bn | 5.38 Bn | - | 218.10 Mn |
| 5 | New Jersey Resources | 5.44 Bn | 5.40 Bn | 243.61 Mn | 18.78 Mn |
| 6 | ONE Gas | 5.02 Bn | 4.99 Bn | 272.01 Mn | 173.50 Mn |
| 7 | Mdu Resources | 4.18 Bn | 4.14 Bn | - | 101.09 Mn |
| 8 | Chesapeake Utilities | 3.25 Bn | 3.23 Bn | 150.20 Mn | 125.00 Mn |
| 9 | Brookfield Infrastructure | 2.18 Bn | 1.42 Bn | 572.00 Mn | 357.00 Mn |
| 10 | Centuri Holdings | 2.17 Bn | 2.12 Bn | 69.14 Mn | 27.91 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 218.10 Mn |
| Jun 30, 2026 | 218.10 Mn |
| Mar 31, 2026 | 267.40 Mn |
| Mar 31, 2026 | 267.40 Mn |
| Dec 31, 2025 | 269.60 Mn |
| Dec 31, 2025 | 269.60 Mn |
| Sep 30, 2025 | 471.70 Mn |
| Sep 30, 2025 | 471.70 Mn |
| Jun 30, 2025 | -8.30 Mn |
| Jun 30, 2025 | -8.30 Mn |
| Mar 31, 2025 | 86.80 Mn |
| Mar 31, 2025 | 86.80 Mn |
| Dec 31, 2024 | 16.20 Mn |
| Dec 31, 2024 | 16.20 Mn |
| Sep 30, 2024 | -9.00 Mn |
| Sep 30, 2024 | -9.00 Mn |
| Jun 30, 2024 | 35.30 Mn |
| Jun 30, 2024 | 35.30 Mn |
| Mar 31, 2024 | 37.70 Mn |
| Mar 31, 2024 | 37.70 Mn |