Black Hills annual capital expenditures (capex)
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Black Hills Capital Expenditures (CapEx) Growth & History (BKH)
Black Hills's capital expenditures (capex) was $819.8M for fiscal 2025.
View full Black Hills company overviewBlack Hills annual capital expenditures (capex) history
| Fiscal year | Period ended | Capital expenditures (CapEx) | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $819.8M | $75.6M | +10.16% |
| 2024 | 2024-12-31 | $744.2M | $188.6M | +33.95% |
| 2023 | 2023-12-31 | $555.6M | −$48.8M | −8.07% |
| 2022 | 2022-12-31 | $604.4M | −$73.1M | −10.79% |
| 2021 | 2021-12-31 | $677.5M | −$89.9M | −11.72% |
| 2020 | 2020-12-31 | $767.4M | −$51.0M | −6.23% |
| 2019 | 2019-12-31 | $818.4M | $360.9M | +78.87% |
| 2018 | 2018-12-31 | $457.5M | $131.5M | +40.34% |
| 2017 | 2017-12-31 | $326.0M | −$128.9M | −28.34% |
| 2016 | 2016-12-31 | $455.0M | $188.6M | +70.79% |
| 2015 | 2015-12-31 | $266.4M | −$132.1M | −33.15% |
| 2014 | 2014-12-31 | $398.5M | $43.7M | +12.33% |
| 2013 | 2013-12-31 | $354.7M | $5.6M | +1.61% |
| 2012 | 2012-12-31 | $349.1M | −$91.6M | −20.78% |
| 2011 | 2011-12-31 | $440.7M | −$31.6M | −6.69% |
| 2010 | 2010-12-31 | $472.3M | $125.6M | +36.24% |
| 2009 | 2009-12-31 | $346.6M | $17.7M | +5.39% |
| 2008 | 2008-12-31 | $328.9M | — | — |
Black Hills quarterly capital expenditures (capex)
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| Fiscal quarter | Period ended | Capital expenditures (CapEx) | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $218.1M | −$800,000 | −0.37% |
| Q1 2026 | 2026-03-31 | $267.4M | $114.5M | +74.89% |
| Q4 2025 | 2025-12-31 | $269.6M | $55.9M | +26.16% |
| Q3 2025 | 2025-09-30 | $178.4M | −$9.7M | −5.16% |
| Q2 2025 | 2025-06-30 | $218.9M | $52.7M | +31.71% |
| Q1 2025 | 2025-03-31 | $152.9M | −$23.3M | −13.22% |
| Q4 2024 | 2024-12-31 | $213.7M | $79.9M | +59.72% |
| Q3 2024 | 2024-09-30 | $188.1M | $28.0M | +17.49% |
| Q2 2024 | 2024-06-30 | $166.2M | $23.6M | +16.55% |
| Q1 2024 | 2024-03-31 | $176.2M | $57.1M | +47.94% |
| Q4 2023 | 2023-12-31 | $133.8M | −$4.3M | −3.11% |
| Q3 2023 | 2023-09-30 | $160.1M | −$12.4M | −7.19% |
| Q2 2023 | 2023-06-30 | $142.6M | −$14.4M | −9.19% |
| Q1 2023 | 2023-03-31 | $119.1M | −$17.7M | −12.93% |
| Q4 2022 | 2022-12-31 | $138.1M | −$41.6M | −23.13% |
| Q3 2022 | 2022-09-30 | $172.5M | −$5.9M | −3.29% |
| Q2 2022 | 2022-06-30 | $157.0M | −$16.1M | −9.33% |
| Q1 2022 | 2022-03-31 | $136.8M | −$9.5M | −6.51% |
| Q4 2021 | 2021-12-31 | $179.7M | −$51.8M | −22.37% |
| Q3 2021 | 2021-09-30 | $178.4M | −$9.3M | −4.96% |
| Q2 2021 | 2021-06-30 | $173.2M | −$3.3M | −1.85% |
| Q1 2021 | 2021-03-31 | $146.3M | −$25.6M | −14.88% |
| Q4 2020 | 2020-12-31 | $231.4M | $5.6M | +2.47% |
| Q3 2020 | 2020-09-30 | $187.7M | −$87.2M | −31.72% |
| Q2 2020 | 2020-06-30 | $176.4M | $2.9M | +1.65% |
| Q1 2020 | 2020-03-31 | $171.9M | $27.8M | +19.26% |
| Q4 2019 | 2019-12-31 | $225.8M | $46.4M | +25.89% |
| Q3 2019 | 2019-09-30 | $274.9M | $153.5M | +126.43% |
| Q2 2019 | 2019-06-30 | $173.6M | $86.8M | +100.01% |
| Q1 2019 | 2019-03-31 | $144.1M | $74.2M | +105.98% |
| Q4 2018 | 2018-12-31 | $179.4M | $92.2M | +105.80% |
| Q3 2018 | 2018-09-30 | $121.4M | $36.8M | +43.57% |
| Q2 2018 | 2018-06-30 | $86.8M | −$1.0M | −1.18% |
| Q1 2018 | 2018-03-31 | $70.0M | $3.5M | +5.25% |
| Q4 2017 | 2017-12-31 | $87.2M | −$33.7M | −27.87% |
| Q3 2017 | 2017-09-30 | $84.5M | −$49.7M | −37.02% |
| Q2 2017 | 2017-06-30 | $87.8M | −$28.2M | −24.28% |
| Q1 2017 | 2017-03-31 | $66.5M | −$17.4M | −20.75% |
| Q4 2016 | 2016-12-31 | $120.9M | $37.8M | +45.44% |
| Q3 2016 | 2016-09-30 | $134.2M | −$8.8M | −6.12% |
| Q2 2016 | 2016-06-30 | $116.0M | $27.0M | +30.38% |
| Q1 2016 | 2016-03-31 | $83.9M | −$33.6M | −28.62% |
| Q4 2015 | 2015-12-31 | $83.1M | −$25.1M | −23.20% |
| Q3 2015 | 2015-09-30 | $143.0M | $30.0M | +26.55% |
| Q2 2015 | 2015-06-30 | $88.9M | −$4.7M | −5.06% |
| Q1 2015 | 2015-03-31 | $117.5M | $33.9M | +40.56% |
| Q4 2014 | 2014-12-31 | $108.2M | −$7.1M | −6.13% |
| Q3 2014 | 2014-09-30 | $113.0M | $20.7M | +22.48% |
| Q2 2014 | 2014-06-30 | $93.7M | $10.4M | +12.49% |
| Q1 2014 | 2014-03-31 | $83.6M | $19.7M | +30.76% |
| Q4 2013 | 2013-12-31 | $115.3M | $27.5M | +31.41% |
| Q3 2013 | 2013-09-30 | $92.3M | −$20.4M | −18.07% |
| Q2 2013 | 2013-06-30 | $83.3M | $2.1M | +2.63% |
| Q1 2013 | 2013-03-31 | $63.9M | −$3.7M | −5.49% |
| Q4 2012 | 2012-12-31 | $87.7M | −$24.0M | −21.51% |
| Q3 2012 | 2012-09-30 | $112.6M | $9.5M | +9.23% |
| Q2 2012 | 2012-06-30 | $81.2M | −$23.1M | −22.15% |
| Q1 2012 | 2012-03-31 | $67.7M | −$54.0M | −44.37% |
| Q4 2011 | 2011-12-31 | $111.7M | −$36.7M | −24.70% |
| Q3 2011 | 2011-09-30 | $103.1M | −$49.7M | −32.52% |
| Q2 2011 | 2011-06-30 | $104.2M | $14.4M | +16.06% |
| Q1 2011 | 2011-03-31 | $121.6M | $40.3M | +49.61% |
| Q4 2010 | 2010-12-31 | $148.4M | — | — |
| Q3 2010 | 2010-09-30 | $152.8M | $71.3M | +87.43% |
| Q2 2010 | 2010-06-30 | $89.8M | — | — |
| Q1 2010 | 2010-03-31 | $81.3M | — | — |
| Q3 2009 | 2009-09-30 | $81.5M | — | — |
Black Hills capital expenditures (capex) trends
Over the last five fiscal years, Black Hills's capital expenditures (capex) increased from $767.4M to $819.8M, a change of $52.4M. The latest reported quarter, Q2 2026, shows $218.1M.
About the metric
What capital expenditures (CapEx) mean
Capital expenditures, commonly called CapEx, are cash investments in long-lived assets such as property, plants, equipment, infrastructure, and productive software. CapEx can support future growth or maintain existing operations, but it reduces current-period free cash flow.
Calculation and source
SEC-reported capital expenditures
TickerStat standardizes cash payments for property, plant, equipment, and other productive assets reported in company SEC filings. When a filer reports separate qualifying CapEx components instead of a total, those components are combined for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Black Hills source filings ↗