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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 |
|---|---|---|---|---|
| FY2015 | $28.56B | $-11.13B | $-15.07B | $12.17B |
| FY2016 | $27.55B | $-10.68B | $-16.29B | $11.48B |
| FY2017 | $31.67B | $-13.90B | $-19.07B | $10.62B |
| FY2018 | $28.34B | $-9.08B | $-19.88B | $10.05B |
| FY2019 | $27.75B | $-24.04B | $-2.54B | $10.34B |
| FY2020 | $25.26B | $-9.13B | $-14.30B | $10.71B |
| FY2021 | $36.07B | $-10.07B | $-16.12B | $10.26B |
| FY2022 | $24.18B | $-6.02B | $-22.83B | $13.11B |
| FY2023 | $28.84B | $-17.72B | $-17.04B | $16.86B |
| FY2024 | $35.73B | $-21.29B | $-13.41B | $20.61B |
| FY2025 | $36.44B | $-21.38B | $-14.82B | $23.78B |
| FY2026 | $41.57B | $-26.35B | $-13.55B | $26.64B |
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.