HealthEquity
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 |
|---|---|---|---|---|
| FY2015 | $15.05M | $-8.44M | $90.48M | $1.71M |
| FY2016 | $26.54M | $-90.55M | $36.65M | $2.38M |
| FY2017 | $45.59M | $-13.05M | $23.78M | $3.65M |
| FY2018 | $81.70M | $-36.75M | $14.56M | $5.46M |
| FY2019 | $113.42M | $25.65M | $22.93M | $3.87M |
| FY2020 | $105.01M | $-1.74B | $1.47B | $7.29M |
| FY2021 | $181.62M | $-96.96M | $52.42M | $13.09M |
| FY2022 | $141.00M | $-639.25M | $394.86M | $8.91M |
| FY2023 | $150.65M | $-119.13M | $-2.67M | $3.37M |
| FY2024 | $242.83M | $-46.07M | $-47.04M | $1.69M |
| FY2025 | $339.86M | $-505.45M | $57.57M | $2.08M |
| FY2026 | $457.09M | $-47.14M | $-386.98M | $1.97M |
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.