Garmin
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 | $522.71M | $131.33M | $-599.62M | $73.34M |
| FY2015 | $280.47M | $-111.98M | $-500.09M | $80.59M |
| FY2016 | $705.68M | $-121.68M | $-561.68M | $90.96M |
| FY2017 | $660.84M | $-194.38M | $-448.41M | $139.70M |
| FY2018 | $919.52M | $-307.50M | $-286.16M | $155.76M |
| FY2019 | $698.55M | $-450.75M | $-416.03M | $118.03M |
| FY2020 | $1.14B | $-260.52M | $-461.76M | $185.40M |
| FY2021 | $1.01B | $-475.37M | $-486.71M | $307.65M |
| FY2022 | $788.26M | $-145.12M | $-840.62M | $244.29M |
| FY2023 | $1.38B | $-332.97M | $-636.51M | $193.52M |
| FY2024 | $1.43B | $-393.33M | $-626.86M | $193.57M |
| FY2025 | $1.63B | $-645.24M | $-844.08M | $270.45M |
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.