Clearwater Paper Corporation (CLW) 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 | 500K | 5M | 34M | -28.2M | 1.5M | -35.1M | 16.2M | 21.1M | 59.2M | 65.7M | 88.2M | 46M | -9.2M | 17.3M | 13.3M | 78.5M | 41.1M | 32.1M | 16.3M | 14.3M |
| Operating CF Margin % | 0.14% | 1.29% | 8.52% | -7.2% | 0.4% | -9.07% | 4.12% | 6.13% | 11.93% | 24.46% | 31.62% | 8.77% | -1.75% | 3.28% | 2.47% | 14.91% | 8.42% | 6.55% | 3.62% | 3.52% |
| Operating CF Growth % | -66.67% | 114.24% | 109.88% | -233.65% | -97.47% | -153.42% | -81.63% | -54.13% | 743.48% | 279.77% | 563.16% | -41.4% | -122.38% | -46.11% | -18.4% | 448.95% | 21.6% | -54.73% | -70.79% | -86.88% |
| Net Income | -12.8M | -53K | -53.3M | 2.7M | -6.3M | -19.6M | 5.8M | -25.8M | 17.2M | 17.6M | 36.6M | 29.7M | 23.8M | -5.9M | 20.6M | 14.7M | 16.6M | 9.6M | 1.9M | -51.6M |
| Depreciation & Amortization | 23.4M | 23.7M | 23.7M | 23M | 22M | 22.2M | 24.2M | 30.9M | 23.2M | 24.8M | 24.4M | 24.6M | 24.8M | 25.9M | 26.2M | 25.7M | 25.4M | 25.4M | 25.9M | 26.8M |
| Stock-Based Compensation | 600K | -300K | 600K | 2.5M | 1M | 0 | -900K | 4.7M | 3.3M | 2.9M | 3.5M | 0 | 0 | 0 | 4M | 0 | 0 | 2.2M | 3.8M | 700K |
| Deferred Taxes | -3.5M | -15.6M | -6.4M | 1.7M | -2.3M | 49M | -4.9M | -3.5M | -1.6M | -7.6M | -4.4M | -1.6M | -1.3M | -2.1M | -1.6M | -1.9M | -2.2M | 9.7M | 2.4M | -21.4M |
| Other Non-Cash Items | -7.2M | 41.75M | 49.4M | 4M | 0 | -81.9M | 200K | 1.1M | -800K | 5.3M | 300K | 1.5M | 2.5M | 4.4M | 2.1M | 11.6M | 1.5M | 1.2M | 2.6M | 38.5M |
| Working Capital Changes | 0 | -44.5M | 20M | -62.1M | -12.9M | -4.8M | -8.2M | 13.7M | 17.9M | 22.7M | 27.8M | -8.2M | -59M | -5M | -38M | 28.5M | -200K | -16M | -20.3M | 21.3M |
| Change in Receivables | -2.6M | -29M | 4.2M | 11.5M | 11.1M | -24.9M | -4.5M | -65.6M | 7.8M | -9.2M | 22M | -7.7M | -6.4M | 700K | 4.2M | -11.2M | -10.6M | -5.2M | -12.9M | -12.9M |
| Change in Inventory | 12.4M | 1.8M | 0 | -26.2M | 900K | 18M | -6.6M | 9.2M | -8.2M | 14.1M | 6.9M | 5.3M | -22.3M | 2.8M | -39.2M | -5.8M | -4.2M | 8.1M | -3.5M | 4.9M |
| Change in Payables | -15.5M | -10.3M | 11.4M | -52.4M | -24M | 9.1M | -100K | 69.4M | 20.5M | 25.6M | -4.4M | -10.8M | -31.7M | -800K | -4.4M | 40.6M | 13.9M | -11.9M | -4.8M | 24.8M |
| Cash from Investing | -9.1M | -14.4M | -30.4M | -22.9M | -32.7M | 959.5M | -47M | -726.3M | -18.5M | -25.2M | -14.2M | -12.8M | -21.5M | -13.6M | -6.7M | -5.4M | -7.9M | 4.8M | -8.9M | -9.9M |
| Capital Expenditures | -9.1M | -14.9M | -18.3M | -22.9M | -32.7M | -33M | -47M | -18.1M | -18.5M | -25.2M | -14.2M | -12.8M | -21.5M | -13.6M | -6.7M | -5.4M | -7.9M | -8.5M | -8.9M | -9.9M |
| CapEx % of Revenue | 2.53% | 3.86% | 4.59% | 5.84% | 8.65% | 8.52% | 11.95% | 5.26% | 3.73% | 9.38% | 5.09% | 2.44% | 4.09% | 2.58% | 1.24% | 1.03% | 1.62% | 1.74% | 1.98% | 2.44% |
| Acquisitions | 0 | 500K | -12.1M | 0 | 0 | 992.5M | 0 | -708.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.3M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 14.3M | 5.8M | -15.8M | 53.7M | -4.4M | -880.3M | 26.8M | 689.7M | -27.6M | -108.7M | -5.5M | -8.9M | -6.3M | -1M | -25.7M | -40M | -21.9M | -39.5M | -40.5M | -500K |
| Debt Issued (Net) | 0 | 9.9M | 6.8M | 46.9M | -200K | -880.3M | 29.2M | 696.4M | -23.5M | -102.9M | -200K | -200K | -200K | -100K | -25.3M | -35.1M | -20.4M | -39.7M | -40.5M | -400K |
| Equity Issued (Net) | 0 | 0 | -2.1M | -4.2M | -10.9M | -4M | -2.5M | -3M | -500K | -2.8M | -5M | -8.4M | -5.9M | -100K | -1M | -3.9M | 0 | -500K | 0 | 0 |
| 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 | -2.1M | -4.2M | -10.9M | -4M | -2.5M | -3M | -500K | -2.8M | -5M | -8.4M | -1.7M | -100K | -1M | -3.9M | 0 | 0 | 0 | 0 |
| Other Financing | 14.3M | -4.1M | -20.5M | 11M | 6.7M | 4M | 100K | -4.1M | -3.6M | -3M | -300K | -300K | -200K | -800K | 600K | -1M | -1.5M | 700K | 0 | -100K |
| Net Change in Cash | 5.8M | -3.7M | -12.3M | 2.7M | -35.6M | 44.1M | -4.1M | -15.6M | 13.2M | -68.2M | 68.5M | 24.3M | -37M | 3.6M | -19.1M | 33.1M | 11.3M | -2.7M | -33.1M | 3.8M |
| Free Cash Flow | -8.6M | -9.9M | 15.7M | -51.1M | -31.2M | -68.1M | -30.8M | 3M | 40.7M | 40.5M | 74M | 33.2M | -30.6M | 3.7M | 6.6M | 73.1M | 33.2M | 23.6M | 7.4M | 4.4M |
| FCF Margin % | -2.39% | -2.56% | 3.93% | -13.04% | -8.25% | -17.59% | -7.83% | 0.87% | 8.2% | 15.08% | 26.53% | 6.33% | -5.82% | 0.7% | 1.22% | 13.89% | 6.8% | 4.82% | 1.64% | 1.08% |
| FCF Growth % | 72.44% | 85.46% | 150.97% | -1803.33% | -176.66% | -268.15% | -141.62% | -90.96% | 233.01% | 994.59% | 1021.21% | -54.58% | -192.17% | -84.32% | -10.81% | 1561.36% | 46.26% | -59.86% | -83.95% | -95.67% |
| FCF per Share | -0.53 | -0.62 | 0.97 | -3.15 | -1.91 | -4.06 | -1.85 | 0.18 | 2.41 | 2.40 | 4.38 | 1.96 | -1.80 | 0.22 | 0.39 | 4.28 | 1.94 | 1.38 | 0.44 | 0.26 |
| FCF Conversion (FCF/Net Income) | -0.04x | 0.14x | -0.63x | -7.83x | -0.24x | 0.33x | 2.75x | -0.51x | 3.44x | 3.73x | 2.41x | 1.55x | -0.39x | -2.93x | 0.65x | 5.34x | 2.48x | 3.38x | 8.58x | -0.28x |
| Interest Paid | 0 | 0 | 0 | 800K | 6.5M | 9.7M | 24.9M | 7.9M | 0 | 7.9M | 14.5M | 800K | 0 | 700K | 15.4M | 1.2M | 0 | 0 | 15.9M | 0 |
| Taxes Paid | 0 | 0 | 0 | 57.2M | 200K | -14.6M | -600K | 15.2M | 0 | -11.4M | 12.8M | 15.1M | 0 | 17.6M | 12.9M | 12.5M | 0 | 0 | 1M | 0 |