Moelis & Company (MC) 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 | -278.8M | 338.74M | 198.87M | 204.17M | -165.48M | 315.34M | 137.18M | 139.96M | -165M | 99.34M | 140.12M | 71.16M | -152.14M | 122.4M | 125.53M | 57.52M | -272.45M | 389.84M | 315.28M | 254.82M |
| Operating CF Margin % | -87.18% | 69.42% | 55.72% | 55.88% | -53.97% | 71.88% | 50.11% | 52.9% | -75.87% | 46.23% | 51.48% | 39.56% | -81% | 59.08% | 53.76% | 23.72% | -90.19% | 91.72% | 64.23% | 70.61% |
| Operating CF Growth % | -68.48% | 7.42% | 44.97% | 45.87% | -0.29% | 217.45% | -2.1% | 96.7% | -8.45% | -18.84% | 11.62% | 23.72% | 44.16% | -68.6% | -60.18% | -77.43% | -1086.28% | 19.67% | 213.41% | 235.57% |
| Net Income | 42.3M | 87.86M | 60.07M | 50.26M | 50.27M | 99.84M | 16.89M | 14.92M | 17.48M | -5.66M | -10.73M | -13.25M | 3.67M | 22.67M | 28.56M | 43.86M | 73.59M | 113.51M | 140.46M | 93.2M |
| Depreciation & Amortization | 3.49M | 3.41M | 2.98M | 2.76M | 2.78M | 2.83M | 2.8M | 2.43M | 2.38M | 2.29M | 2.01M | 1.94M | 2.07M | 2.18M | 1.92M | 1.84M | 2.04M | 2.21M | 1.95M | 1.64M |
| Stock-Based Compensation | 72.21M | 0 | 40.17M | 41.61M | 86.23M | 38.71M | 36.8M | 25.96M | 59.98M | 32.99M | 31.98M | 33.58M | 59.64M | 32.17M | 28.84M | 30.86M | 37.07M | 59.11M | 28.82M | 29.04M |
| Deferred Taxes | 3.87M | 0 | 22M | 17.38M | -10.72M | 28.25M | 7.42M | 6.86M | -7.45M | -640K | 1.48M | -1.97M | -3.17M | -2.22M | 1.38M | 1.66M | 25.97M | -5.5M | 4.16M | 2.96M |
| Other Non-Cash Items | 2.03M | 95.3M | -28.5M | -3.23M | 2.62M | -4M | -5.29M | -8K | 2.95M | -829K | -8.04M | -2.9M | 2.14M | 4.2M | 1.99M | 3.64M | 4.93M | -2.1M | -27.01M | -4.67M |
| Working Capital Changes | -402.69M | 152.17M | 102.16M | 95.38M | -296.66M | 149.71M | 78.55M | 89.8M | -240.33M | 71.18M | 123.43M | 53.74M | -216.49M | 63.41M | 62.84M | -24.34M | -416.06M | 222.61M | 166.9M | 132.65M |
| Change in Receivables | -16.58M | -10.24M | 790K | -7.31M | -19.99M | 14.15M | -12.4M | 9.99M | -16.33M | -25.77M | 4.19M | -4.38M | 7.52M | 571K | -11.03M | -12.51M | 14.6M | 55.28M | -43.95M | 19.12M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -47.2M | 0 | 47.2M | 0 | 0 | 0 | 0 | 0 | 114.92M | 199.53M | 0 |
| Change in Payables | 16.06M | 15.62M | 2.71M | -14.48M | 14.39M | 5.66M | 1.21M | -17.99M | 11.14M | 6.44M | 2.63M | -1.83M | 16.51M | 4.02M | -3.98M | -27.29M | -17.8M | 49.43M | 16.86M | -15.38M |
| Cash from Investing | 127.6M | -9.73M | -73.19M | -106.08M | -6.98M | 3.69M | -95.34M | -20.63M | 129.39M | -15.43M | -108.03M | 1.81M | 170.22M | -15.43M | -55.84M | 32.73M | 27.36M | 76.06M | -168.07M | -15.85M |
| Capital Expenditures | -12.79M | -9.16M | -19.32M | -4.75M | -3.1M | -2.31M | -2.08M | -2.34M | -5.37M | -5.28M | -4.73M | -5.58M | -1.1M | -2.03M | -1.13M | -336K | -2.46M | -4.54M | -1.79M | -6.56M |
| CapEx % of Revenue | 4% | 1.88% | 5.41% | 1.3% | 1.01% | 0.53% | 0.76% | 0.88% | 2.47% | 2.46% | 1.74% | 3.1% | 0.59% | 0.98% | 0.49% | 0.14% | 0.81% | 1.07% | 0.36% | 1.82% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 228.82M | 369.07M | 366.83M | 290.18M | 188.4M | 184.6M | 188.31M | 87.15M | 67.68M | 210.36M | 197.66M | 87.21M | 91.68M | 265.25M | 247.41M | 191.9M | 228.35M | 263.34M | 338.63M | 130.37M |
| Other Investing | 923K | -733K | 29.92M | -112K | 250K | 0 | 16.71M | 0 | -6.33M | 48.57M | -103.3M | 7.39M | 0 | -3M | -54.7M | 33.06M | 0 | -29.16M | 29.16M | 0 |
| Cash from Financing | -204.42M | -99.5M | -66.59M | -61.07M | -56.73M | -46.96M | -48.59M | -71.9M | -47.66M | -46.16M | -45.31M | -47.15M | -90.56M | -52.48M | -53.3M | -77.39M | -143.72M | -226.59M | -61.69M | -200.36M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -117.27M | -46.12M | -15.2M | -1.63M | -11.64M | -1.09M | -1.02M | -332K | -8.39M | -1.48M | -763K | -230K | -44.53M | -1.25M | -13.46M | -34.9M | -97.93M | -4.13M | -4.1M | -21.71M |
| Dividends Paid | -54.94M | -53.09M | -51.4M | -59.13M | -45.09M | -45.87M | -47.56M | -51.46M | -39.26M | -44.67M | -44.53M | -46.92M | -46.03M | -44.87M | -41.64M | -42.49M | -45.65M | -220.37M | -41.26M | -178.65M |
| Share Repurchases | -117.27M | -46.12M | -15.2M | -1.63M | -11.64M | -1.09M | -1.02M | -332K | -8.39M | -1.48M | -763K | -230K | -44.53M | -1.25M | -13.46M | -34.9M | -97.93M | -4.13M | -4.1M | -21.71M |
| Other Financing | -32.21M | -288K | 0 | -314K | 0 | 0 | 0 | -20.1M | 0 | 0 | -15K | 0 | 0 | -6.37M | 1.8M | 0 | -148K | -2.09M | -16.34M | 0 |
| Net Change in Cash | -355.63M | 226.93M | 59.92M | 37.14M | -227.8M | 267.11M | -5.18M | 47.99M | -83.96M | 39M | -12.6M | 25.43M | -72.15M | 58.59M | 9.51M | 8.38M | -389.96M | 241.28M | 82.2M | 41.05M |
| Free Cash Flow | -291.59M | 329.58M | 179.55M | 199.41M | -168.58M | 313.03M | 135.1M | 137.62M | -170.36M | 94.06M | 135.39M | 65.58M | -153.25M | 120.37M | 124.4M | 57.18M | -274.91M | 385.31M | 313.49M | 248.26M |
| FCF Margin % | -91.18% | 67.55% | 50.31% | 54.58% | -54.99% | 71.35% | 49.35% | 52.01% | -78.33% | 43.77% | 49.74% | 36.46% | -81.59% | 58.1% | 53.27% | 23.58% | -91% | 90.66% | 63.87% | 68.79% |
| FCF Growth % | -72.96% | 5.29% | 32.9% | 44.9% | 1.04% | 232.81% | -0.21% | 109.87% | -11.17% | -21.86% | 8.84% | 14.68% | 44.26% | -68.76% | -60.32% | -76.97% | -937.17% | 21.81% | 244.32% | 268.24% |
| FCF per Share | -3.67 | 4.14 | 2.27 | 2.54 | -2.15 | 4.03 | 1.76 | 1.82 | -2.27 | 1.37 | 1.97 | 0.96 | -2.14 | 1.71 | 1.78 | 0.82 | -3.93 | 5.48 | 4.59 | 3.67 |
| FCF Conversion (FCF/Net Income) | -7.25x | 3.86x | 3.73x | 4.92x | -3.29x | 3.53x | 8.12x | 10.63x | -9.96x | -17.55x | -13.06x | -5.94x | -41.50x | 6.10x | 4.90x | 1.48x | -4.15x | 3.94x | 2.62x | 3.21x |
| 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 | 896K | 1.4M | 3.41M | 333K | 1.04M | 649K | 595K | 0 | -305K | 270K | 2.35M | 1.73M | 2.23M | 65.3M | 7.17M | 0 | 24.07M | 22.55M |