Lincoln Financial
S&P 600
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 |
|---|---|---|---|
| FY2014 | $2.53B | $-1.81B | $834.00M |
| FY2015 | $2.24B | $-4.22B | $1.21B |
| FY2016 | $1.27B | $-3.67B | $1.97B |
| FY2017 | $788.00M | $-4.19B | $2.31B |
| FY2018 | $1.94B | $-5.82B | $4.59B |
| FY2019 | $-2.69B | $-5.50B | $8.40B |
| FY2020 | $534.00M | $-9.48B | $8.09B |
| FY2021 | $-217.00M | $-3.58B | $4.71B |
| FY2022 | $3.61B | $-11.65B | $8.77B |
| FY2023 | $-2.07B | $-3.33B | $5.43B |
| FY2024 | $-2.01B | $821.00M | $3.62B |
| FY2025 | $-167.00M | $-4.01B | $7.88B |
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.