Frost Bank
S&P 400
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 | $289.85M | $-2.28B | $1.80B | $131.97M |
| FY2015 | $394.86M | $-1.24B | $71.46M | $147.13M |
| FY2016 | $437.84M | $-1.37B | $1.49B | $53.65M |
| FY2017 | $538.08M | $-670.60M | $1.04B | $34.09M |
| FY2018 | $562.39M | $-1.91B | $253.66M | $79.27M |
| FY2019 | $634.09M | $-1.39B | $585.06M | $206.72M |
| FY2020 | $524.24M | $-1.63B | $7.61B | $95.42M |
| FY2021 | $648.29M | $-2.53B | $8.17B | $65.85M |
| FY2022 | $722.58M | $-8.28B | $3.00B | $102.50M |
| FY2023 | $478.85M | $-942.75M | $-2.88B | $158.63M |
| FY2024 | $989.53M | $-180.88M | $738.33M | $127.78M |
| FY2025 | $273.98M | $-1.60B | $-33.09M | $146.65M |
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.