FactSet
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 | $265.02M | $-70.71M | $-276.73M | $17.74M |
| FY2015 | $306.44M | $-64.88M | $-187.33M | $25.68M |
| FY2016 | $331.14M | $-158.41M | $-91.00M | $47.74M |
| FY2017 | $320.53M | $-347.31M | $-8.16M | $36.86M |
| FY2018 | $385.67M | $-48.53M | $-320.04M | $33.52M |
| FY2019 | $427.14M | $-56.10M | $-214.27M | $59.37M |
| FY2020 | $505.84M | $-73.63M | $-218.08M | $77.64M |
| FY2021 | $555.23M | $-135.99M | $-322.71M | $61.33M |
| FY2022 | $538.28M | $-2.03B | $1.34B | $51.16M |
| FY2023 | $645.57M | $-95.39M | $-632.02M | $60.79M |
| FY2024 | $700.34M | $-144.32M | $-560.85M | $85.68M |
| FY2025 | $726.26M | $-392.77M | $-407.82M | $108.81M |
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.