Mesa Air Group, Inc. (MESA) quarterly cash flow statement — complete operating, investing & financing history
| Metric | 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 | Q1'21 |
|---|
| Cash from Operations | -2.83M | -9.39M | -22.39M | -11.56M | 14.65M | 11.21M | 16.23M | -7.84M | -10.25M | -5.2M | -2.6M | -6.03M | -222K | 3.63M | 5.21M | 4.75M | 1.66M | 52.64M | -698K | 79.27M |
| Operating CF Margin % | -3.12% | -10.13% | -23.63% | -11.2% | 12.71% | 10.12% | 12.33% | -6.6% | -8.97% | -4.53% | -2.14% | -4.1% | -0.18% | 2.7% | 4.23% | 3.22% | 1.27% | 42.06% | -0.72% | 52.72% |
| Operating CF Growth % | -119.3% | -183.82% | -237.96% | -47.44% | 242.85% | 315.5% | 723.71% | -29.95% | -4518.92% | -243.44% | -149.97% | -227% | -113.38% | -93.11% | 845.99% | -94.01% | -97.67% | 37.08% | -102.59% | 107.36% |
| Net Income | -14.12M | 20.86M | -58.63M | -114.56M | -24.92M | -19.91M | 11.66M | -57.85M | -28.34M | -47.56M | -35.12M | -9.09M | -115.64M | -9.98M | -42.78M | -14.27M | -7.5M | 4.28M | 5.69M | 14.12M |
| Depreciation & Amortization | 2.26M | 3.38M | 5.96M | 7.98M | 7.2M | 9.73M | 9.82M | 13.29M | 13.3M | 15.32M | 16.54M | 15.2M | 19.63M | 20.1M | 20.75M | 21.03M | 20.74M | 20.93M | 20.7M | 20.47M |
| Stock-Based Compensation | 167K | 268K | 264K | 279K | 282K | 248K | 372K | 427K | 363K | 556K | 668K | 688K | 655K | 719K | 671K | 716K | 712K | 756K | 808K | 850K |
| Deferred Taxes | 1.38M | -21K | -4.62M | -2.96M | 113K | -848K | 65K | 428K | -3.15M | -2.95M | -2.19M | -1.01M | -33.08M | -2.48M | -12.44M | -4.22M | -2.37M | 1.38M | 1.82M | 4.84M |
| Other Non-Cash Items | 5.49M | -22.56M | 53.33M | 111.93M | 24.72M | 12.12M | -4.66M | 38.41M | 4.67M | 24.68M | 17.41M | 6.62M | 130.51M | 5.11M | 45.6M | 9.69M | 10.36M | 3.15M | 6.24M | 104K |
| Working Capital Changes | 1.99M | -11.32M | -18.69M | -14.23M | 7.25M | 9.87M | -1.03M | -2.55M | 2.91M | 4.75M | 98K | -18.44M | -2.3M | -9.85M | -6.59M | -8.19M | -20.3M | 22.15M | -35.95M | 38.9M |
| Change in Receivables | -4.21M | 4.49M | -9.42M | -2.93M | 690K | -1.3M | 867K | 2.74M | -2.92M | 3.21M | 3.19M | -9.14M | 72K | 2.8M | -3.93M | 248K | 10.54M | 37.93M | -12.91M | -1.7M |
| Change in Inventory | -1.19M | -1.72M | -3.35M | -900K | 73K | -1.18M | -644K | 415K | -514K | -1.78M | -1.38M | 1.15M | -464K | -169K | -1.27M | -978K | 29K | -1.81M | -340K | 256K |
| Change in Payables | 12.67M | -5.84M | -4.96M | -11.16M | 7.69M | 7.06M | 2.9M | -3.9M | 6.84M | 5.34M | -4.68M | -7.01M | -7.14M | -10.05M | 14.24M | 174K | 8.26M | -15.87M | 21.19M | -5.72M |
| Cash from Investing | 17.63M | 15.69M | 62.13M | 115.83M | 35.87M | 18.41M | 47.9M | 46.6M | 33.29M | 47.2M | 78.41M | -16.61M | 41.75M | -10.38M | -3.08M | -26.93M | -16.43M | -5.36M | -9.9M | -1.77M |
| Capital Expenditures | -1.68M | -1.1M | -2.24M | -2.06M | -3.4M | -3.72M | -6.31M | -6.88M | -5.02M | -7.09M | -7.79M | -16.74M | -8.25M | -10.38M | -3.08M | -19.77M | -6.43M | -5.46M | -3.49M | -1.77M |
| CapEx % of Revenue | 1.85% | 1.19% | 2.37% | 2% | 2.95% | 3.35% | 4.79% | 5.8% | 4.39% | 6.18% | 6.39% | 11.37% | 6.57% | 7.72% | 2.5% | 13.38% | 4.92% | 4.36% | 3.59% | 1.18% |
| Acquisitions | 0 | 0 | 0 | 0 | -107.73M | 0 | 54.25M | 53.49M | 38.77M | 53.77M | 86.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 19.3M | 16.8M | 64.38M | 117.9M | 140.12M | 19.02M | 341K | 0 | -458K | 513K | 96K | 131K | 50M | 0 | 0 | -6.95M | 0 | 92K | -6.41M | 0 |
| Cash from Financing | -18.54M | -17.94M | -25.57M | -79.92M | -51.17M | -31.85M | -61.82M | -55.63M | -38.45M | -45.07M | -80.66M | 21.04M | -38.3M | -14.7M | -28.57M | 3.99M | -45.11M | -14.74M | -23.11M | 4.59M |
| Debt Issued (Net) | 43.46M | -17.93M | -25.57M | -79.92M | 148.3M | -31.73M | -60.94M | -55.63M | -39.49M | -44.8M | -80.73M | 21.04M | -38.42M | -14.36M | -28.75M | 4.01M | -45.27M | -13.74M | -22.89M | 5.87M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | -18K | 0 | 48K | 0 | 136K | 30K | 119K | -1K | -41K | -339K | 179K | -15K | -101K | -1000K | -157K | -19K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -148K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30K | -29K | -1K | -41K | -339K | -60K | -15K | -101K | -1.21M | -157K | -19K |
| Other Financing | -61.99M | -3K | -1K | 0 | -199.46M | -125K | -875K | 0 | 1.18M | -273K | -43K | 0 | 160K | 0 | 0 | 0 | 264K | 0 | -69K | -1.26M |
| Net Change in Cash | -3.74M | -11.64M | 14.18M | 24.35M | -655K | -2.23M | 2.31M | -16.87M | -15.42M | -3.08M | -4.85M | -1.6M | 3.23M | -21.45M | -26.43M | -18.18M | -59.88M | 32.53M | -33.72M | 82.09M |
| Free Cash Flow | -4.5M | -10.5M | -24.63M | -13.63M | 11.24M | 7.49M | 9.92M | -14.72M | -15.28M | -12.29M | -10.39M | -22.77M | -8.47M | -6.75M | 2.13M | -21.98M | -4.77M | 47.27M | -10.6M | 77.5M |
| FCF Margin % | -4.97% | -11.32% | -26% | -13.2% | 9.75% | 6.76% | 7.54% | -12.4% | -13.36% | -10.72% | -8.53% | -15.47% | -6.74% | -5.03% | 1.73% | -14.87% | -3.65% | 37.77% | -10.9% | 51.54% |
| FCF Growth % | -140.06% | -240.14% | -348.28% | 7.46% | 173.6% | 160.96% | 195.47% | 35.34% | -80.29% | -81.97% | -587.43% | -3.62% | -77.52% | -114.29% | 120.11% | -128.36% | -104.34% | 80.38% | -180.8% | 206.19% |
| FCF per Share | -0.11 | -0.25 | -0.60 | -0.33 | 0.27 | 0.18 | 0.24 | -0.36 | -0.37 | -0.30 | -0.26 | -0.63 | -0.23 | -0.19 | 0.06 | -0.61 | -0.13 | 1.20 | -0.27 | 2.11 |
| FCF Conversion (FCF/Net Income) | 0.20x | -0.45x | 0.38x | 0.10x | -0.59x | -0.56x | 1.39x | 0.14x | 0.36x | 0.11x | 0.07x | 0.66x | 0.00x | -0.36x | -0.12x | -0.33x | -0.22x | 12.31x | -0.12x | 5.62x |
| Interest Paid | 0 | 2.38M | 3.09M | 5.69M | 0 | 0 | 0 | 0 | 9.61M | 7.92M | 13.12M | 7.76M | 10.2M | 5.23M | 6.65M | 0 | 9.86M | 5.98M | 10.18M | 6.74M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 392K | 1K | 26K | 0 | 45K | 266K | 176K | 0 | 6K | 349K | 48K | 1K |