WD-40 Company
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 | $38.73M | $-10.50M | $-25.84M | $4.09M |
| FY2015 | $55.06M | $-16.95M | $-38.66M | $5.78M |
| FY2016 | $65.30M | $-20.92M | $-43.23M | $4.35M |
| FY2017 | $55.57M | $-42.29M | $-26.84M | $20.15M |
| FY2018 | $64.82M | $71.21M | $-121.41M | $12.36M |
| FY2019 | $62.85M | $-12.68M | $-69.01M | $13.28M |
| FY2020 | $72.66M | $-18.95M | $-26.71M | $19.31M |
| FY2021 | $84.71M | $-14.46M | $-40.75M | $15.06M |
| FY2022 | $2.60M | $-7.69M | $-38.01M | $8.30M |
| FY2023 | $98.39M | $-6.22M | $-85.05M | $6.87M |
| FY2024 | $92.03M | $-9.74M | $-83.94M | $4.21M |
| FY2025 | $87.93M | $-2.39M | $-74.12M | $4.53M |
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.