First Financial Bankshares
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 | $131.40M | $-575.21M | $485.26M | $17.41M |
| FY2015 | $109.09M | $-384.23M | $294.55M | $17.43M |
| FY2016 | $160.74M | $-251.96M | $74.82M | $20.40M |
| FY2017 | $190.27M | $-398.04M | $323.63M | $14.16M |
| FY2018 | $186.35M | $-273.29M | $-36.77M | $17.65M |
| FY2019 | $202.45M | $-447.80M | $279.31M | $8.67M |
| FY2020 | $210.67M | $-1.26B | $1.50B | $16.45M |
| FY2021 | $355.15M | $-2.61B | $2.06B | $19.21M |
| FY2022 | $324.27M | $-838.01M | $315.83M | $15.78M |
| FY2023 | $284.82M | $127.29M | $-206.20M | $17.25M |
| FY2024 | $309.64M | $-736.88M | $654.06M | $16.72M |
| FY2025 | $299.45M | $-1.02B | $1.03B | $13.44M |
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.