Heidrick & Struggles International, Inc. (HSII) quarterly cash flow statement — complete operating, investing & financing history
| Metric | 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 | Q1'21 | Q4'20 |
|---|
| Cash from Operations | 134.68M | 68.61M | -232.22M | 190.19M | 101.14M | 62.52M | -203.42M | 153.82M | 109.47M | 46.94M | -337.03M | 160.34M | 138.46M | 82.68M | -262.2M | 206.63M | 117.12M | 90.23M | -142.57M | 96.26M |
| Operating CF Margin % | 41.72% | 21.31% | -80.79% | 67.71% | 35.76% | 22.1% | -75.59% | 59.76% | 40.86% | 17.15% | -139.2% | 67.18% | 53.61% | 27.46% | -91.83% | 71.95% | 44.14% | 34.54% | -73.21% | 59.35% |
| Operating CF Growth % | 33.15% | 9.74% | -14.16% | 23.64% | -7.61% | 33.2% | 39.64% | -4.06% | -20.94% | -43.23% | -28.54% | -22.4% | 18.23% | -8.36% | -83.91% | 114.66% | 125.84% | 120.96% | 13.91% | -15.61% |
| Net Income | 17.65M | 21.07M | 13.31M | -14.98M | 14.83M | -5.16M | 14.03M | 14.86M | 14.99M | 8.98M | 15.59M | 16.04M | 20.83M | 24.15M | 18.47M | 12.48M | 24.5M | 20.77M | 14.83M | 5.54M |
| Depreciation & Amortization | 5.38M | 5.01M | 4.85M | 5.21M | 4.95M | 3.91M | 4.79M | 5.08M | 4.74M | 4.82M | 3.87M | 2.78M | 2.58M | 2.62M | 2.62M | -6.62M | 4.53M | 5.97M | 2.07M | 6.02M |
| Stock-Based Compensation | 3.75M | 3.99M | 2.51M | 2.82M | 3.79M | 3.46M | 2.64M | 4.3M | 3.14M | 1.62M | 2.6M | 5M | 4.21M | 3.78M | 3.7M | 5.53M | 2.82M | 2.86M | 5.46M | 3.05M |
| Deferred Taxes | 0 | 509K | -1.88M | -17.36M | 273K | -2.25M | -87K | 0 | 0 | 0 | 0 | 8.06M | -730K | 231K | 0 | 0 | -347K | -644K | 0 | -2.38M |
| Other Non-Cash Items | -7.13M | -1.15M | -460K | 43.62M | -862K | 16.5M | -59K | 3.12M | 1.9M | 6.84M | 528K | -2.28M | 229K | 416K | 4.97M | 1.8M | 194K | 275K | 10.2M | -12K |
| Working Capital Changes | 115.03M | 39.17M | -250.54M | 170.88M | 78.16M | 46.05M | -224.74M | 126.48M | 84.72M | 24.68M | -359.62M | 130.73M | 111.35M | 51.48M | -291.95M | 193.43M | 85.42M | 61M | -175.13M | 84.04M |
| Change in Receivables | 5.23M | -23.18M | -45.61M | 47.19M | 4.13M | -14.72M | -41.13M | 59.12M | 7.79M | -35.66M | -24.33M | 69.28M | 20.03M | -31.64M | -53.14M | 48.06M | -13.9M | -29.77M | -41.21M | 32.26M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 111.59M | 92.19M | 0 | 57.77M |
| Change in Payables | 0 | 980K | -2.51M | 17.92M | -10.97M | -255K | -2.07M | 0 | 0 | 0 | 0 | -2.48M | 694K | 212K | 0 | 0 | 434K | 1.13M | 0 | -2.36M |
| Cash from Investing | 111.82M | -77.29M | -73.13M | -18.43M | 69.04M | -119.94M | 54.71M | -33.05M | -31.22M | -30.21M | 228.08M | -86.54M | -184.45M | -2.55M | -6.05M | -4.04M | -1.18M | -33.88M | 17.85M | 46.78M |
| Capital Expenditures | -5.5M | -3.91M | -2.73M | -16.67M | 6.89M | -10.37M | -6.17M | -3.81M | -2.81M | -3.01M | -3.81M | -2.96M | -3.94M | -2.43M | -1.8M | -2.34M | -1.2M | -1.76M | -945K | -201K |
| CapEx % of Revenue | 1.7% | 1.21% | 0.95% | 5.93% | 2.44% | 3.66% | 2.29% | 1.48% | 1.05% | 1.1% | 1.57% | 1.24% | 1.53% | 0.81% | 0.63% | 0.81% | 0.45% | 0.67% | 0.49% | 0.12% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11.9M | -2.2M | -5.84M | -29.91M | 2.96M | 180.51M | 120K | 0 | -1.55M | 1.2M | 1.76M | 0 | 201K |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 117.32M | 0 | 0 | 0 | 0 | 0 | 0 | -17.34M | -26.21M | -21.36M | 261.79M | -2.96M | -180.51M | -120K | -4.25M | -157K | -1.2M | -33.73M | 18.8M | -201K |
| Cash from Financing | -3.58M | -4.14M | -6.45M | -3.33M | -3.26M | -4.07M | -6.08M | -1.12M | -5.19M | -4.03M | -43.2M | -3.12M | -3.12M | -3.1M | -6.34M | -3.5M | -2.86M | -2.99M | -6.16M | -3.04M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | -317K | -887K | -1000K | -17K | -53K | -885K | -1000K | 0 | 0 | -904K | -1000K | 0 | 0 | 0 | -1000K | -50K | 0 | 0 | -1000K | 0 |
| Dividends Paid | -3.11M | -3.25M | -3.2M | -3.31M | -3.21M | -3.18M | -3.22M | -3.02M | -3.01M | -3M | -3.01M | -3.12M | -3.12M | -3.1M | -2.94M | -2.78M | -2.86M | -2.99M | -2.9M | -3.04M |
| Share Repurchases | -317K | -887K | -2.89M | -17K | -53K | -885K | -2.86M | 0 | 0 | -904K | -4.14M | 0 | 0 | 0 | -3.22M | -50K | 0 | 0 | -3.09M | 0 |
| Other Financing | -147K | 0 | -360K | 0 | 0 | 0 | 0 | 1.9M | -2.17M | -119K | -36.05M | 0 | 0 | 0 | -179K | -669K | 0 | 0 | -167K | 0 |
| Net Change in Cash | 243.47M | -696K | -303.68M | 152.39M | 173.5M | -62.91M | -159.79M | 126.15M | 68.65M | 13.08M | -150.76M | 79.98M | -61.14M | 68.65M | -277.26M | 196.93M | 110.48M | 53.78M | -132.42M | 145.91M |
| Free Cash Flow | 129.18M | 64.7M | -234.96M | 173.52M | 108.04M | 52.16M | -209.6M | 150.01M | 106.67M | 43.93M | -340.84M | 157.38M | 134.52M | 80.25M | -264M | 204.29M | 115.92M | 88.47M | -143.52M | 96.06M |
| FCF Margin % | 40.01% | 20.1% | -81.74% | 61.78% | 38.2% | 18.44% | -77.89% | 58.28% | 39.82% | 16.05% | -140.77% | 65.94% | 52.09% | 26.65% | -92.46% | 71.13% | 43.69% | 33.86% | -73.7% | 59.23% |
| FCF Growth % | 19.57% | 24.06% | -12.1% | 15.67% | 1.28% | 18.72% | 38.51% | -4.68% | -20.71% | -45.25% | -29.11% | -22.96% | 16.05% | -9.29% | -83.95% | 112.67% | 135.16% | 132.61% | 14.24% | -15.26% |
| FCF per Share | 6.06 | 3.05 | -11.02 | 8.21 | 5.14 | 2.57 | -9.96 | 7.26 | 5.19 | 2.13 | -16.57 | 7.68 | 6.59 | 3.95 | -12.87 | 10.06 | 5.73 | 4.40 | -7.11 | 4.84 |
| FCF Conversion (FCF/Net Income) | 7.63x | 3.26x | -17.45x | -12.70x | 6.82x | -12.12x | -14.50x | 10.36x | 7.30x | 5.23x | -21.62x | 9.99x | 6.65x | 3.42x | -14.20x | 16.56x | 4.78x | 4.35x | -9.61x | 17.38x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |