Equitable Holdings
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 |
|---|---|---|---|
| FY2016 | $-236.00M | $-5.77B | $5.11B |
| FY2017 | $-243.00M | $-9.69B | $9.07B |
| FY2018 | $61.00M | $-2.05B | $1.66B |
| FY2019 | $-216.00M | $-8.50B | $8.71B |
| FY2020 | $-61.00M | $-7.82B | $9.67B |
| FY2021 | $-193.00M | $-12.69B | $11.95B |
| FY2022 | $-250.00M | $-7.49B | $7.05B |
| FY2023 | $-208.00M | $-4.85B | $9.00B |
| FY2024 | $2.01B | $-15.86B | $12.44B |
| FY2025 | $714.00M | $-10.97B | $15.72B |
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.