FTI Consulting
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 | $135.40M | $-57.60M | $6.33M | $39.26M |
| FY2015 | $139.92M | $-31.74M | $-235.96M | $31.40M |
| FY2016 | $233.49M | $-30.13M | $-125.31M | $28.94M |
| FY2017 | $147.63M | $-40.64M | $-140.93M | $32.00M |
| FY2018 | $230.67M | $18.74M | $-117.52M | $32.27M |
| FY2019 | $217.89M | $-60.61M | $-103.31M | $41.82M |
| FY2020 | $327.07M | $-60.12M | $-360.05M | $34.85M |
| FY2021 | $355.48M | $-79.09M | $-61.67M | $68.67M |
| FY2022 | $188.79M | $-60.06M | $-106.01M | $53.32M |
| FY2023 | $224.46M | $-73.84M | $-354.66M | $49.48M |
| FY2024 | $395.10M | $-10.16M | $-15.38M | $35.41M |
| FY2025 | $152.13M | $-58.53M | $-510.48M | $58.53M |
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.