Photronics, Inc.
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 | $96.36M | $-87.49M | $-29.54M | $91.09M |
| FY2015 | $133.20M | $-104.31M | $-7.10M | $104.03M |
| FY2016 | $122.14M | $52.29M | $-67.02M | $50.15M |
| FY2017 | $96.83M | $-98.02M | $-10.93M | $91.97M |
| FY2018 | $130.57M | $-90.87M | $-13.81M | $92.59M |
| FY2019 | $68.39M | $-151.41M | $-42.06M | $178.38M |
| FY2020 | $143.05M | $-65.71M | $-16.01M | $70.82M |
| FY2021 | $150.77M | $-103.49M | $-53.90M | $109.10M |
| FY2022 | $275.19M | $-147.76M | $-38.69M | $112.34M |
| FY2023 | $302.18M | $-101.55M | $-18.49M | $131.30M |
| FY2024 | $261.44M | $-156.47M | $-7.73M | $130.94M |
| FY2025 | $247.80M | $-238.90M | $-115.26M | $188.14M |
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.