Federated Hermes
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 | $192.48M | $-16.42M | $-165.24M | $8.85M |
| FY2015 | $233.18M | $-5.73M | $-170.09M | $6.03M |
| FY2016 | $265.67M | $-21.04M | $-312.37M | $12.84M |
| FY2017 | $387.38M | $1.00M | $-176.92M | $9.80M |
| FY2018 | $206.28M | $-174.44M | $-186.12M | $17.27M |
| FY2019 | $334.94M | $-94.68M | $-152.68M | $15.05M |
| FY2020 | $373.24M | $-24.82M | $-295.14M | $13.50M |
| FY2021 | $170.38M | $10.82M | $-249.47M | $10.42M |
| FY2022 | $323.95M | $-32.36M | $-168.51M | $4.37M |
| FY2023 | $311.83M | $-30.61M | $-243.09M | $7.92M |
| FY2024 | $346.55M | $64.25M | $-286.40M | $4.02M |
| FY2025 | $297.35M | $2.01M | $-237.88M | $2.76M |
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.