Strategic Education, 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 | $77.55M | $-6.90M | $-3.13M | $6.90M |
| FY2015 | $77.55M | $-12.69M | $-120.25M | $12.69M |
| FY2016 | $44.52M | $-20.80M | $-1.36M | $13.16M |
| FY2017 | $56.16M | $-18.05M | $-11.42M | $18.05M |
| FY2018 | $46.87M | $130.14M | $-21.22M | $27.55M |
| FY2019 | $202.15M | $-38.07M | $-55.82M | $38.69M |
| FY2020 | $142.91M | $-642.19M | $279.19M | $46.81M |
| FY2021 | $180.53M | $-33.09M | $-67.89M | $49.43M |
| FY2022 | $126.05M | $-31.36M | $-142.36M | $43.17M |
| FY2023 | $117.12M | $-48.55M | $-113.61M | $36.94M |
| FY2024 | $169.33M | $-64.36M | $-136.77M | $40.58M |
| FY2025 | $198.20M | $8.51M | $-206.16M | $44.25M |
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.