Ciena
S&P 500
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 | $89.82M | $-106.39M | $258.53M | $48.22M |
| FY2015 | $262.11M | $-43.13M | $-8.05M | $62.11M |
| FY2016 | $289.52M | $-296.26M | $-4.23M | $107.19M |
| FY2017 | $234.88M | $-61.37M | $-311.05M | $94.60M |
| FY2018 | $229.26M | $-19.38M | $-99.23M | $67.62M |
| FY2019 | $413.14M | $24.08M | $-278.97M | $62.58M |
| FY2020 | $493.65M | $-220.24M | $-87.22M | $82.67M |
| FY2021 | $541.65M | $-90.72M | $-116.84M | $79.55M |
| FY2022 | $-167.76M | $-101.25M | $-133.06M | $90.82M |
| FY2023 | $168.33M | $-383.45M | $229.38M | $106.20M |
| FY2024 | $514.53M | $-306.48M | $-285.06M | $136.64M |
| FY2025 | $806.09M | $-241.50M | $-405.92M | $140.80M |
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.