Steel Dynamics
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 | $628.22M | $-1.75B | $1.09B | $111.79M |
| FY2015 | $1.05B | $-142.63M | $-545.33M | $114.50M |
| FY2016 | $852.76M | $-312.89M | $-425.43M | $198.16M |
| FY2017 | $739.42M | $-139.11M | $-413.34M | $164.94M |
| FY2018 | $1.42B | $-895.26M | $-720.87M | $239.39M |
| FY2019 | $1.40B | $-576.69M | $-266.63M | $451.95M |
| FY2020 | $987.03M | $-993.26M | $-7.05M | $1.20B |
| FY2021 | $2.20B | $-999.42M | $-1.33B | $1.01B |
| FY2022 | $4.46B | $-1.88B | $-2.20B | $908.90M |
| FY2023 | $3.52B | $-1.97B | $-1.78B | $1.66B |
| FY2024 | $1.84B | $-1.30B | $-1.35B | $1.87B |
| FY2025 | $1.45B | $-974.96M | $-294.32M | $948.03M |
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.