Harley-Davidson
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 | $1.15B | $-744.65M | $-536.10M | $232.32M |
| FY2015 | $1.10B | $-915.85M | $-354.06M | $259.97M |
| FY2016 | $1.17B | $-392.73M | $-777.89M | $256.26M |
| FY2017 | $1.01B | $-562.47M | $-550.26M | $206.29M |
| FY2018 | $1.21B | $-662.27M | $-14.76M | $213.52M |
| FY2019 | $868.27M | $-508.13M | $-712.22M | $181.44M |
| FY2020 | $1.18B | $-66.78M | $1.37B | $131.05M |
| FY2021 | $975.70M | $-459.45M | $-1.88B | $120.18M |
| FY2022 | $548.46M | $-773.01M | $-201.97M | $151.67M |
| FY2023 | $754.89M | $-512.30M | $-174.65M | $207.40M |
| FY2024 | $1.06B | $-383.33M | $-572.32M | $196.56M |
| FY2025 | $568.92M | $3.78B | $-3.01B | $153.68M |
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.