Donnelley Financial Solutions, 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 | $125.30M | $-29.50M | $-90.40M | $28.80M |
| FY2015 | $120.90M | $-37.10M | $-94.80M | $27.10M |
| FY2016 | $106.00M | $-29.30M | $-60.00M | $26.20M |
| FY2017 | $91.40M | $-31.00M | $-45.70M | $27.80M |
| FY2018 | $66.30M | $30.20M | $-99.00M | $37.10M |
| FY2019 | $54.50M | $-12.20M | $-74.50M | $44.80M |
| FY2020 | $154.20M | $-19.80M | $-77.50M | $31.10M |
| FY2021 | $180.00M | $-45.00M | $-154.90M | $42.30M |
| FY2022 | $150.20M | $-50.90M | $-121.10M | $54.20M |
| FY2023 | $124.00M | $-51.30M | $-84.60M | $61.80M |
| FY2024 | $171.10M | $-53.30M | $-82.10M | $65.90M |
| FY2025 | $164.90M | $-57.00M | $-141.80M | $57.10M |
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.