Black Hills (BKH) Invested Capital (2009 - 2026)
Black Hills (BKH) posted quarterly Invested Capital of $410.0 million for Q1 2026, up 36.67% year-over-year from $300.0 million in Q1 2025, and up 225.4% quarter-over-quarter from $126.0 million in Q3 2025.
Black Hills (BKH) Invested Capital (2009 - 2026) Analysis & Trends
Black Hills (BKH) has reported Invested Capital for 18 consecutive years, with $410.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Invested Capital rose 36.67% year-over-year to $410.0 million; the TTM figure through Mar 2026 stood at $836.0 million (down 20.48% YoY), while the FY2024 annual figure was $133.8 million, down 77.7% from the prior year.
- Invested Capital climbed to $410.0 million in Q1 2026 per BKH's latest filing, from $126.0 million in the prior quarter.
- Across five years, Invested Capital topped out at $600.0 million in Q4 2023 and bottomed at $17.5 million in Q3 2024.
- Historically, Invested Capital has averaged $380.4 million across 5 years, with a median of $375.7 million in 2022.
- Annual changes were most pronounced in 2022 — Invested Capital soared 4686.43% — and 2024, when it tumbled 77.7%.
- Black Hills' Invested Capital stood at $535.6 million in 2022, then advanced by 12.02% to $600.0 million in 2023, then sank by 77.7% to $133.8 million in 2024, then declined by 5.83% to $126.0 million in 2025, then jumped by 225.4% to $410.0 million in 2026.
- Business Quant data shows BKH's Invested Capital at $410.0 million in Q1 2026, $126.0 million in Q3 2025, and $300.0 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Atmos Energy | 28.94 Bn | 28.41 Bn | - | 25.07 Bn |
| 2 | Nisource | 20.08 Bn | 20.01 Bn | 867.50 Mn | 27.51 Bn |
| 3 | Ugi | 8.16 Bn | 7.68 Bn | 573.00 Mn | 18.00 Mn |
| 4 | Black Hills | 5.60 Bn | 5.52 Bn | - | 410.00 Mn |
| 5 | New Jersey Resources | 5.56 Bn | 5.52 Bn | 243.61 Mn | 5.84 Bn |
| 6 | ONE Gas | 5.16 Bn | 5.13 Bn | 272.01 Mn | 5.88 Bn |
| 7 | Mdu Resources | 4.30 Bn | 4.26 Bn | - | 4.70 Mn |
| 8 | Chesapeake Utilities | 3.30 Bn | 3.28 Bn | 150.20 Mn | 2.99 Bn |
| 9 | Centuri Holdings | 2.22 Bn | 2.18 Bn | 69.14 Mn | 14.00 Mn |
| 10 | Brookfield Infrastructure | 2.20 Bn | 1.43 Bn | 572.00 Mn | 12.79 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 410.00 Mn |
| Mar 31, 2026 | 410.00 Mn |
| Sep 30, 2025 | 126.00 Mn |
| Jun 30, 2025 | 300.00 Mn |
| Mar 31, 2025 | 300.00 Mn |
| Dec 31, 2024 | 133.80 Mn |
| Sep 30, 2024 | 17.50 Mn |
| Jun 30, 2024 | 600.00 Mn |
| Mar 31, 2024 | 600.00 Mn |
| Dec 31, 2023 | 600.00 Mn |
| Mar 31, 2023 | 525.00 Mn |
| Dec 31, 2022 | 535.60 Mn |
| Sep 30, 2022 | 501.35 Mn |
| Jun 30, 2022 | 335.05 Mn |
| Mar 31, 2022 | 341.48 Mn |
| Jun 30, 2021 | 7.00 Mn |
| Mar 31, 2021 | 815.87 Mn |
| Dec 31, 2020 | 234.04 Mn |
| Sep 30, 2020 | 84.32 Mn |
| Jun 30, 2020 | 4.31 Mn |