McCormick & Company
S&P 500
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 | $503.60M | $-131.60M | $-348.90M | $132.70M |
| FY2015 | $590.00M | $-338.90M | $-199.60M | $128.40M |
| FY2016 | $658.10M | $-267.10M | $-371.50M | $153.80M |
| FY2017 | $815.30M | $-4.51B | $3.76B | $182.40M |
| FY2018 | $821.20M | $-158.50M | $-751.10M | $169.10M |
| FY2019 | $946.80M | $-171.00M | $-725.80M | $173.70M |
| FY2020 | $1.04B | $-1.03B | $220.90M | $225.30M |
| FY2021 | $828.30M | $-908.60M | $22.00M | $278.00M |
| FY2022 | $651.50M | $-146.40M | $-487.20M | $262.00M |
| FY2023 | $1.24B | $-260.50M | $-1.18B | $263.90M |
| FY2024 | $921.90M | $-269.00M | $-583.10M | $274.90M |
| FY2025 | $962.20M | $-255.20M | $-840.90M | $221.80M |
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.