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Black Hills BKH Invested capital

Discontinued — last reported Q1 '26

Invested capital at other companies

Graphic Packaging Holding logo
Graphic Packaging HoldingGPK
5.2%-4.2pp
Griffon logo
GriffonGFF
5.9%-9.9pp
Power Integrations logo
Power IntegrationsPOWI
1.5%-1.0pp
SSR Mining logo
SSR MiningSSRM
18.7%
Repligen logo
RepligenRGEN
0.3%-6.3pp
MYR Group logo
MYR GroupMYRG
18.4%+13.4pp

Other financials

Income statement

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Revenue$780.7M-3.0%
Operating income$201.9M-1.5%
Net income$131.0M-2.5%
EPS (diluted)$1.73-7.5%

Balance sheet

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Cash & equivalents$23.6M+258%
Total debt$4.2B+5.8%
Total equity$3.9B+8.5%
Total assets$10.8B+7.5%

Cash flow

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Operating cash flow$176.2M-22.7%
CapEx$267.4M+74.9%
Free cash flow-$91.2M-222%

Valuation

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Market cap$5.54B+20.7%

Profitability

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Operating margin23.4%+0.1pp
Net margin12.6%-0.1pp
FCF margin-13.7%-14.0pp

Returns & leverage

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Return on equity7.6%-0.4pp
Debt / equity1.1×0.0×
Current ratio0.6×-0.1×

Where this comes from

Calculated from Black Hills’s reported figures.

The official record: Black Hills’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Black Hills's invested capital?
Black Hills (BKH) reported invested capital of $8.17B in Q1 2026.
How has Black Hills's invested capital changed year-over-year?
Black Hills's invested capital increased by 6.9% year-over-year, from $7.64B to $8.17B.
What is the long-term trend for Black Hills's invested capital?
Over 5 years (2020 to 2025), Black Hills's invested capital has grown at a 5.7% compound annual growth rate (CAGR), from $6.31B to $8.34B.
What does invested capital mean?
Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).