MarketAxess
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 | Capital Expenditure |
|---|---|---|---|---|
| FY2014 | $109.95M | $-13.03M | $-60.22M | $4.63M |
| FY2015 | $120.20M | $-37.95M | $-51.05M | $4.80M |
| FY2016 | $89.75M | $-53.18M | $-65.29M | $6.39M |
| FY2017 | $168.04M | $-53.65M | $-117.07M | $12.09M |
| FY2018 | $223.92M | $-50.30M | $-92.67M | $35.89M |
| FY2019 | $265.94M | $-122.05M | $-118.10M | $12.29M |
| FY2020 | $404.49M | $68.87M | $-145.11M | $15.01M |
| FY2021 | $282.09M | $-67.69M | $-189.78M | $17.49M |
| FY2022 | $289.23M | $-86.27M | $-242.38M | $13.14M |
| FY2023 | $333.77M | $-155.29M | $-147.06M | $9.33M |
| FY2024 | $385.24M | $-86.94M | $-201.38M | $9.94M |
| FY2025 | $382.14M | $-96.93M | $-332.37M | $8.20M |
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.