Meritage Homes Corporation
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 | $-211.25M | $-62.87M | $103.31M | $20.79M |
| FY2015 | $-3.34M | $-16.49M | $178.70M | $16.09M |
| FY2016 | $-103.40M | $-20.11M | $-7.00M | $16.66M |
| FY2017 | $-87.13M | $-17.07M | $143.25M | $18.10M |
| FY2018 | $262.20M | $-33.53M | $-87.95M | $33.42M |
| FY2019 | $346.82M | $-13.49M | $-325.33M | $24.39M |
| FY2020 | $530.36M | $-18.23M | $-85.97M | $19.93M |
| FY2021 | $-152.09M | $-26.82M | $51.63M | $25.66M |
| FY2022 | $405.27M | $-32.29M | $-129.76M | $26.97M |
| FY2023 | $355.57M | $-43.62M | $-252.28M | $38.19M |
| FY2024 | $-227.58M | $-44.07M | $1.98M | $28.66M |
| FY2025 | $118.29M | $-57.70M | $63.01M | $25.72M |
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.