Ameresco, Inc. (AMRC) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 35.4M | -42.9M | 17.71M | -26.87M | -28.3M | 18.38M | 25.09M | 53.31M | 20.82M | -29.57M | -6.57M | -92.62M | 58.77M | -65.12M | 34.67M | -31.72M | -276.12M | -55.95M | -19.86M | -57.76M |
| Operating CF Margin % | 8.82% | -7.38% | 3.37% | -5.69% | -8.02% | 3.45% | 5.01% | 12.17% | 6.98% | -6.7% | -1.96% | -28.32% | 21.68% | -19.63% | 7.86% | -5.49% | -58.25% | -13.45% | -7.26% | -21.09% |
| Operating CF Growth % | 225.06% | -333.43% | -29.41% | -150.41% | -235.97% | 162.14% | 481.79% | 157.56% | -64.58% | 54.59% | -118.95% | -191.99% | 121.28% | -16.38% | 274.58% | 45.08% | -613.05% | -197.71% | -94.81% | -163.09% |
| Net Income | -18.28M | 18.37M | 18.5M | 15.52M | -5.61M | 37.91M | 17.01M | 5.19M | -6.18M | 33.09M | 21.24M | 6.34M | 1.56M | 18.64M | 27.73M | 32.87M | 19.3M | 29.59M | 20.28M | 17.89M |
| Depreciation & Amortization | 29.39M | 27.89M | 27.34M | 24.02M | 23.94M | 26.55M | 23.45M | 20.38M | 18.84M | 18.53M | 17.12M | 16.1M | 14.29M | 13.85M | 14.03M | 13.28M | 13.12M | 12.49M | 12.15M | 11.34M |
| Stock-Based Compensation | 0 | 0 | 0 | 3.75M | 2.84M | 3.76M | 3.66M | 3.68M | 3.03M | -2M | 0 | 0 | 4.04M | 4.21M | 3.63M | 3.67M | 3.53M | 4.44M | 2.17M | 1.35M |
| Deferred Taxes | -1.9M | -10.65M | -4.89M | -1.19M | 1.19M | -20.4M | -4.6M | 0 | 687K | -14.51M | -9.91M | 3.96M | -7.14M | -1.01M | 1.32M | 2.32M | 1.28M | -2.93M | -2.17M | -1.07M |
| Other Non-Cash Items | 8.88M | 927K | 7.7M | -8.9M | -2.14M | -23.03M | 2.83M | 50K | -1.83M | 1.25M | 3.11M | 7.39M | 772K | 738K | 1.74M | 143K | 1.92M | -1.25M | 3.26M | 2.25M |
| Working Capital Changes | 17.3M | -79.43M | -30.94M | -60.07M | -48.53M | -6.41M | -17.26M | 24.02M | 6.28M | -65.93M | -38.13M | -126.42M | 45.26M | -101.55M | -13.78M | -84.02M | -315.27M | -98.29M | -55.55M | -89.51M |
| Change in Receivables | 16.97M | -158.54M | -100.26M | -66.69M | 55.74M | -158.05M | 55.98M | -86.55M | -26.58M | -141.53M | -63.64M | -125.43M | 119.78M | 25.03M | -33.86M | -278.07M | -237.03M | -200.11M | -64.46M | -81.03M |
| Change in Inventory | 89K | 176K | -397K | -40K | -792K | 417K | 511K | 592K | 561K | 11K | 479K | -517K | 608K | -1.12M | -2.21M | -1.17M | -914K | -478K | 470K | -272K |
| Change in Payables | -5.76M | 0 | 101.86M | 3.85M | -87.99M | 130.26M | -59.27M | 48.93M | 23.85M | 91.68M | 42.11M | 1.71M | -82.27M | -106.87M | 16.24M | 203.95M | -77.16M | 101.15M | 5.26M | -3.61M |
| Cash from Investing | -96.94M | 2.24M | -81.33M | -57.66M | -118.37M | -31.25M | -122.18M | -129.44M | -103.77M | -101.75M | -185.95M | -193.8M | -101.25M | -125.69M | -70.38M | -74.55M | -57.73M | -55.16M | -44.35M | -49.27M |
| Capital Expenditures | -96.94M | -55.79M | -81.44M | -147K | -114.24M | -79.9M | -118.47M | -128.03M | -111.95M | -93.61M | -188.14M | -177.99M | -92.03M | -125.69M | -69.92M | -74.55M | -57.73M | -33.67M | -44.35M | -49.27M |
| CapEx % of Revenue | 24.15% | 9.6% | 15.48% | 0.03% | 32.38% | 15% | 23.65% | 29.23% | 37.52% | 21.21% | 56.14% | 54.42% | 33.96% | 37.89% | 15.84% | 12.91% | 12.18% | 8.1% | 16.2% | 17.99% |
| Acquisitions | 0 | 0 | 301K | 4.13M | -4.13M | 52.93M | -4.12M | -1.42M | 8.18M | -8.14M | 6.21M | -15.81M | -9.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 132.37M | 0 | -108.52M | 0 | -4.28M | 403K | 0 | 0 | 1K | 0 | 0 | -38K | -1K | -458K | 0 | 0 | -21.48M | 0 | 0 |
| Cash from Financing | 128.5M | 12.13M | 88.11M | 107.39M | 114.55M | 8.89M | 66.62M | 161.06M | 77.37M | 108.4M | 267.32M | 174.76M | 106.13M | 176.03M | 88.52M | 110.27M | 355.4M | 104.19M | 64.34M | 84.54M |
| Debt Issued (Net) | 102.87M | -4.65M | 44.03M | 102.75M | 82.15M | -21.39M | 58.64M | 63.23M | 24.78M | 59.09M | 232.2M | 154.85M | 43.03M | 85.77M | 31.87M | 41.56M | 285.31M | 55.25M | 21.35M | 44.45M |
| Equity Issued (Net) | 455K | 1.46M | 159K | 868K | 0 | 0 | 0 | 0 | 0 | 0 | 274K | 2.54M | 0 | 0 | 0 | 0 | 0 | 0 | 3K | -135K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 25.18M | 15.33M | 43.92M | 3.77M | 32.4M | 30.27M | 7.99M | 97.83M | 52.59M | 49.31M | 34.85M | 17.37M | 63.1M | 90.26M | 56.65M | 68.71M | 70.09M | 48.94M | 42.99M | 40.22M |
| Net Change in Cash | 30.97M | -28.75M | 22.61M | 25.24M | -31.61M | -6.01M | -28.71M | 85.13M | -5.71M | -22.02M | 76.55M | -112.03M | 63.69M | -13.67M | 52.25M | 2.9M | 21.35M | -6.72M | -64K | -22.5M |
| Free Cash Flow | -61.54M | -98.68M | -63.72M | -27.02M | -142.54M | -61.53M | -93.38M | -74.71M | -91.13M | -123.18M | -194.71M | -270.61M | -33.26M | -190.81M | -35.24M | -106.28M | -333.86M | -89.63M | -64.21M | -107.03M |
| FCF Margin % | -15.33% | -16.98% | -12.12% | -5.72% | -40.4% | -11.55% | -18.64% | -17.06% | -30.54% | -27.91% | -58.1% | -82.74% | -12.27% | -57.52% | -7.99% | -18.41% | -70.43% | -21.55% | -23.46% | -39.07% |
| FCF Growth % | 56.83% | -60.39% | 31.76% | 63.83% | -56.41% | 50.05% | 52.04% | 72.39% | -173.99% | 35.45% | -452.46% | -154.63% | 90.04% | -112.9% | 45.11% | 0.71% | -250.68% | -20.99% | -8.66% | -50.1% |
| FCF per Share | -1.16 | -1.83 | -1.19 | -0.51 | -2.71 | -1.16 | -1.75 | -1.41 | -1.74 | -2.31 | -3.65 | -5.09 | -0.62 | -3.58 | -0.66 | -2.00 | -6.22 | -1.69 | -1.22 | -2.04 |
| FCF Conversion (FCF/Net Income) | -1.94x | -2.33x | 0.96x | -2.09x | 5.16x | 0.50x | 1.43x | 10.64x | -7.09x | -0.88x | -0.31x | -14.54x | 53.33x | -3.63x | 1.27x | -0.98x | -15.88x | -1.98x | -1.14x | -4.23x |
| Interest Paid | 0 | 0 | 0 | 27.67M | 22.19M | 30.21M | 24.64M | 28.62M | 26.91M | 29.07M | 0 | 0 | 13.13M | 9.3M | 9.99M | 9.18M | 4.49M | 5.81M | 3.88M | 4.86M |
| Taxes Paid | 0 | 0 | 0 | 2.61M | 1.17M | 2.51M | 1.12M | 765K | 59K | 1.11M | 0 | 0 | 323K | 3.55M | 899K | 2.75M | 78K | 730K | 727K | 942K |