Artisan Partners Asset Management, Inc.
S&P 600
Cash Flow
Cash Flow Breakdown
Figures in US$OperatingInvestingFinancing
How to read this: the three bars show where cash moved each year. Operating is cash from the core business (you generally want this positive and growing). Investing is usually negative — money spent on assets or acquisitions. Financing shows money raised from, or returned to, lenders and shareholders. Bars above the line are cash in; bars below are cash out.
Operating Cash Flow vs Capex
Figures in US$Operating Cash FlowCapital Expenditure
How to read this: operating cash flow is the cash the business generated; capital expenditure is what it spent on long-term assets like plant and equipment. The gap between them is roughly free cash flow — the cash left over. A wide gap (operating well above capex) means the business funds its investment comfortably from its own earnings.
| Period | Operating Cash Flow | Investing Cash Flow | Financing Cash Flow | Capital Expenditure |
|---|---|---|---|---|
| FY2014 | $351.57M | $-7.78M | $-373.35M | $4.80M |
| FY2015 | $321.24M | $-11.33M | $-326.01M | $3.79M |
| FY2016 | $270.36M | $-2.33M | $-277.71M | $2.93M |
| FY2017 | $225.95M | $-4.70M | $-218.86M | $1.58M |
| FY2018 | $333.32M | $-14.34M | $-263.48M | $2.83M |
| FY2019 | $292.79M | $-17.51M | $-306.57M | $3.50M |
| FY2020 | $318.68M | $18.75M | $-282.23M | $2.05M |
| FY2021 | $398.55M | $-26.97M | $-335.43M | $2.44M |
| FY2022 | $312.61M | $-63.73M | $-306.40M | $6.64M |
| FY2023 | $253.03M | $-38.17M | $-174.96M | $2.26M |
| FY2024 | $372.84M | $-24.87M | $-254.22M | $1.57M |
| FY2025 | $171.99M | $35.25M | $-182.96M | $371.00K |
Figures in USD. Educational data only.
Understanding these terms
Plain-English explanations of each figure in the table above, and what a beginner typically looks at. These are educational descriptions only, not advice.
- Operating Cash Flow
- Cash produced by the company's core operations during the period. The US equivalent of "Cash from Operating Activity".How a beginner reads it: A beginner uses this as a reality check on profit, since it reflects cash actually collected. Healthy, consistent operating cash flow underpins a company's ability to invest and repay debt.
- Investing Cash Flow
- Cash used for or generated by buying and selling long-term assets and investments. The US equivalent of "Cash from Investing Activity".How a beginner reads it: A beginner expects this to be negative for companies investing in growth. Reading it next to operating cash flow shows whether the business funds its investments from its own earnings.
- Financing Cash Flow
- Cash flows with lenders and shareholders — borrowing, repaying, issuing shares, buybacks, and dividends. The US equivalent of "Cash from Financing Activity".How a beginner reads it: A beginner reads this to understand whether the company is taking in money (borrowing/issuing) or paying it out (repaying/dividends), and how that fits the operating picture.
- Capital Expenditure
- Money spent on buying or upgrading long-lived assets like plant, equipment, and buildings. Often shortened to "capex".How a beginner reads it: A beginner reads capex against operating cash flow to see whether a company funds its investment from its own earnings. Operating cash flow minus capex is roughly free cash flow.