Goldman Sachs
S&P 500
Dow Jones
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 | $-7.93B | $-14.91B | $19.00B | $678.00M |
| FY2015 | $9.48B | $-18.57B | $27.51B | $1.83B |
| FY2016 | $6.49B | $9.68B | $12.10B | $2.87B |
| FY2017 | $-20.49B | $-26.38B | $35.21B | $3.18B |
| FY2018 | $16.56B | $-18.82B | $22.75B | $7.98B |
| FY2019 | $23.87B | $-24.24B | $3.37B | $8.44B |
| FY2020 | $-18.54B | $-34.36B | $70.38B | $6.31B |
| FY2021 | $6.30B | $-30.47B | $134.74B | $4.67B |
| FY2022 | $8.71B | $-75.96B | $59.60B | $3.75B |
| FY2023 | $-12.59B | $-17.31B | $27.80B | $2.32B |
| FY2024 | $-13.21B | $-49.62B | $7.32B | $2.09B |
| FY2025 | $-45.15B | $-44.23B | $66.10B | $2.06B |
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.