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Black Hills free cash flow BKH

Cash from operations less capital spending, by quarter and over the last twelve months, from 2009.

Last 12 months, to Jun 30, 2026
−$305.2M
Latest quarter, Q2 FY26
−$23M
Fiscal year 2025
−$146.4M

Black Hills' free cash flow was −$305.2M over the twelve months to Jun 30, 2026.

In its latest quarter, Q2 FY26, it was −$23M.

Free cash flow over time

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearFree cash flowChange
FY2025−$146.4Mn/a
FY2024−$24.9M−106%
FY2023$388.8Mn/a
FY2022−$19.6Mn/a
FY2021−$742.1Mn/a
FY2020−$225.5Mn/a
FY2019−$312.9M−1100%
FY2018$31.3M−69%
FY2017$102.3Mn/a
FY2016−$154.3Mn/a
FY2015−$27.5Mn/a
FY2014−$75Mn/a
FY2013−$30.1Mn/a
FY2012−$32.2Mn/a
FY2011−$217Mn/a

Each fiscal year is the twelve months to its fourth quarter.

Quarter by quarter

QuarterEndedFree cash flowOn a year earlierLast 12 months
Q2 FY26−$23Mn/a−$305.2M
Q1 FY26−$91.2M−222%−$312.5M
Q4 FY25−$101.5Mn/a−$146.4M
Q3 FY25−$89.5Mn/a−$105.4M
Q2 FY25−$30.3M−147%−$101.9M
Q1 FY25$74.9M+31%−$7.2M
Q4 FY24−$60.5M−211%−$24.9M
Q3 FY24−$86Mn/a$90.2M
Q2 FY24$64.4M−52%$167.1M
Q1 FY24$57.2M−73%$236.4M
Q4 FY23$54.6Mn/a$388.8M
Q3 FY23−$9.1Mn/a$286.7M

Against its peers

Companies in Regulated Electric nearest Black Hills' size, closest first, today.

CompanyFree cash flow yield
BKHBlack Hills−5.0%
TXNMTXNM Energy−8.4%
ORAOrmat Technologies−4.9%
PORPortland General Electric−3.6%
NWENorthWestern Energy−4.0%
IDAIdacorp−12.0%
OTTROtter Tail−2.1%
OGEOGE Energy2.7%
AVAAvista−3.3%
PNWPinnacle West Capital−6.8%
LNTAlliant Energy−5.8%
Peer median−4.5%

What the free cash flow tells you

Cash from operations minus capital spending. The cash the company could hand back or reinvest.

Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.

More on Black Hills

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.