Cohen & Steers, 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 | $54.58M | $9.84M | $-65.62M | $5.92M |
| FY2015 | $89.80M | $397.00K | $-71.11M | $2.43M |
| FY2016 | $114.96M | $2.90M | $-74.54M | $10.18M |
| FY2017 | $64.25M | $5.71M | $-60.42M | $3.24M |
| FY2018 | $72.60M | $-53.19M | $-118.11M | $3.47M |
| FY2019 | $141.45M | $35.95M | $-170.13M | $2.75M |
| FY2020 | $89.19M | $-1.77M | $-148.90M | $2.50M |
| FY2021 | $242.90M | $47.65M | $-145.43M | $2.70M |
| FY2022 | $61.68M | $-2.86M | $8.98M | $4.22M |
| FY2023 | $171.96M | $-114.78M | $-119.05M | $56.99M |
| FY2024 | $96.69M | $-119.71M | $18.17M | $11.65M |
| FY2025 | $-120.44M | $8.36M | $73.84M | $5.98M |
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.