Lincoln Electric
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 | $401.70M | $-78.99M | $-314.36M | $72.99M |
| FY2015 | $312.83M | $-85.35M | $-171.88M | $50.51M |
| FY2016 | $312.56M | $-159.95M | $-72.01M | $49.88M |
| FY2017 | $334.85M | $-272.03M | $-135.04M | $61.66M |
| FY2018 | $329.15M | $20.84M | $-302.13M | $71.25M |
| FY2019 | $403.19M | $-192.82M | $-371.94M | $69.62M |
| FY2020 | $351.36M | $-49.21M | $-246.14M | $59.20M |
| FY2021 | $365.06M | $-205.36M | $-221.94M | $62.53M |
| FY2022 | $383.39M | $-504.69M | $133.73M | $71.88M |
| FY2023 | $667.54M | $-74.73M | $-412.39M | $90.99M |
| FY2024 | $598.98M | $-361.23M | $-244.64M | $116.60M |
| FY2025 | $661.17M | $-257.33M | $-461.89M | $126.97M |
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.