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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 | $-630.69M | $-44.78M | $501.72M | — |
| FY2015 | $181.19M | $-11.30M | $31.69M | — |
| FY2016 | $188.66M | $-6.08M | $-149.92M | — |
| FY2017 | $513.22M | $-15.74M | $-369.61M | — |
| FY2018 | $221.51M | $-20.11M | $-347.15M | $7.37M |
| FY2019 | $251.04M | $-40.94M | $-330.36M | $40.46M |
| FY2020 | $310.68M | $-26.56M | $-56.44M | $28.84M |
| FY2021 | $-37.30M | $-38.08M | $-315.01M | $39.40M |
| FY2022 | $183.42M | $-71.77M | $-73.58M | $45.23M |
| FY2023 | $1.08B | $-58.06M | $-627.49M | $35.47M |
| FY2024 | $362.72M | $-50.12M | $-440.75M | $39.31M |
| FY2025 | $335.68M | $-61.80M | $-642.64M | $48.40M |
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.