Black Hills (BKH) Invested Capital (2009 - 2026)

Black Hills' Invested Capital history runs 18 years deep, the most recent figure standing at $8.3 billion for Q1 2026.

• In Q1 2026, Invested Capital rose 6.1% year-over-year to $8.3 billion; the TTM figure through Mar 2026 stood at $8.3 billion (up 6.1% YoY), while the FY2025 annual figure was $8.5 billion, up 8.0% from the prior year.
• Invested Capital was $8.3 billion for Q1 2026 at Black Hills, down from $8.5 billion in the prior quarter.
• In the past five years, Invested Capital ranged from a high of $8.5 billion in Q4 2025 to a low of $6.7 billion in Q3 2022.
• Historically, Invested Capital has averaged $7.7 billion across 5 years, with a median of $7.8 billion in 2025.
• The sharpest annual moves came in 2022 and 2023: Invested Capital slipped 8.14% in 2022, then grew 21.77% in 2023.
• A 5-year view of Invested Capital shows it stood at $6.9 billion in 2022, then gained by 9.79% to $7.5 billion in 2023, then grew by 4.17% to $7.8 billion in 2024, then rose by 8.0% to $8.5 billion in 2025, then dropped by 2.02% to $8.3 billion in 2026.
• The last three Invested Capital figures came in at $8.3 billion (Q1 2026), $8.5 billion (Q4 2025), and $8.1 billion (Q3 2025), per Business Quant data.