Barings Participation Investors (MPV) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 | Q4'21 | Q2'21 | Q4'20 | Q2'20 | Q4'19 | Q2'19 | Q4'17 | Q2'17 | Q4'16 | Q2'16 | Q4'15 | Q2'15 |
|---|
| Cash from Operations | 5.05M | 5.63M | 10.12M | 6.62M | 8.5M | 11.22M | 3.29M | -3.84M | -88.58K | 1.6M | 5.04M | 3.47M | 4.72M | 2.42M | 4.42M | 7.38M | -4M | 11.89M | 6.49M | 4.5M |
| Operating CF Margin % | 61.61% | 63.22% | 91.25% | 66.35% | 82.68% | 114.11% | 41.52% | -62.65% | -1.31% | 28.91% | 72.39% | 55.65% | 74.99% | 34.68% | 64.95% | 101.49% | -59.71% | 194.6% | 110.35% | 68.3% |
| Operating CF Growth % | -50.12% | -14.97% | 19.05% | -41.01% | 158.36% | 392.09% | 3812.99% | -339.89% | -101.76% | -53.79% | 6.8% | 43.15% | - | - | 210.52% | -37.92% | -161.65% | 164.34% | 31.73% | 154.84% |
| Net Income | 6.99M | 6.24M | 9.05M | 8.2M | 9.29M | 8.83M | 6.75M | 207.33K | 13M | 12.38M | 12.75M | -6.4M | 7.75M | 10.06M | 7.9M | 13.95M | 5.19M | 6.45M | 419.81K | 8.14M |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | -6.11K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -1.88M | -848.12K | 10.63M | -5.11M | 3.43M | -331.26K | 344.56K | -1.93M | 1.58M | -829.75K | 1.36M | -223.1K | 413.84K | -1.79M | 2.06M | -790.27K | -317.3K | 253.09K | 71.69K | -946.05K |
| Working Capital Changes | -57.08K | 236.75K | -9.56M | 3.53M | -4.22M | 2.73M | -3.81M | -2.12M | -14.66M | -9.95M | -9.06M | 10.09M | -3.44M | -5.86M | -5.54M | -5.78M | -8.88M | 5.19M | 6M | -2.69M |
| Change in Receivables | 0 | 503.91K | 128.18K | -2.05M | -786K | 224.94K | -668K | -1.69K | -266K | -572K | 134.03K | -178K | 374.61K | -266K | 343.07K | 1.2M | -467K | 179.25K | 71.92K | -206K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -9.67K | 0 | 0 | 0 | 0 | 13.19K | 0 | 0 | 0 | 0 | 0 | 0 | -795 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -728.59K | -1.37M | -9.99M | 6.16M | -3.86M | 2.42M | -2.19M | -3.06M | -14.96M | -9.66M | -8M | 10.15M | -3.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | 0% | 0% | 0% | 0% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 191.2M | 8.13M | 8.71M | 0 | 1.51M | 175.93M | 178.35M | 175.25M | 173.1M | 158.13M | 148.48M | 140.47M | 150.63M | 146.86M | 36.3M | 34.17M | 36.73M | 25.38M | 33.11M | 39.58M |
| Other Investing | 0 | 0 | 0 | 0 | 351 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 5.25M | -7.04M | 1.55M | -13.95M | -6.75M | -7.51M | -4.14M | -2.05M | 1.71M | -4.24M | -4.24M | -4.75M | -5.24M | -5.22M | -5.13M | -5.12M | -5.16M | -5.21M | -5.39M | -5.38M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 634.03K | 715.13K | 912.77K | 320.36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -7.94M | -8.98M | -7.88M | -7.53M | -7M | -5.51M | -4.45M | -4.24M | -4.24M | -4.24M | -4.24M | -4.98M | -5.71M | -5.69M | -5.63M | -5.62M | -5.6M | -5.58M | -5.57M | -5.57M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -14.94M | -22.9K | 8.52M | 17.64K | 15M | 0 | 316.81K | -5.97K | 5.95M | 0 | 0 | 227.53K | 464.73K | 468.95K | 501.54K | 502.31K | 435.09K | 371.88K | 183.5K | 185.23K |
| Net Change in Cash | 9.57M | -2.78M | 1.67M | -1.16M | -2.11M | 8.59M | -5.73M | 5.73M | -10M | 10M | -11.84M | 11.84M | -13.64M | 13.64M | -6.48M | 1.13M | -13.36M | 13.36M | -5.58M | 5.58M |
| Free Cash Flow | 5.05M | 4.26M | 126.33K | 12.79M | 4.64M | 11.22M | 3.29M | -3.84M | -88.58K | 1.6M | 5.04M | 3.47M | 4.72M | 2.42M | 4.42M | 7.38M | -4M | 11.89M | 6.49M | 4.5M |
| FCF Margin % | 61.61% | 47.79% | 1.14% | 128.12% | 45.13% | 114.11% | 41.52% | -62.65% | -1.31% | 28.91% | 72.39% | 55.65% | 74.99% | 34.68% | 64.95% | 101.49% | -59.71% | 194.6% | 110.35% | 68.3% |
| FCF Growth % | 3893.96% | -66.71% | -97.28% | 13.91% | 41.02% | 392.09% | 3812.99% | -339.89% | -101.76% | -53.79% | 6.8% | 43.15% | - | - | 210.52% | -37.92% | -161.65% | 164.34% | 31.73% | 154.84% |
| FCF per Share | 0.47 | 0.40 | 0.01 | 1.20 | 0.44 | 1.06 | 0.31 | -0.36 | -0.01 | 0.15 | 0.48 | 0.33 | 0.44 | 0.23 | 0.42 | 0.71 | -0.38 | 1.15 | 0.63 | 0.44 |
| FCF Conversion (FCF/Net Income) | 0.72x | 0.90x | 1.12x | 0.81x | 0.91x | 1.27x | 0.49x | -18.54x | -0.01x | 0.13x | 0.40x | -0.54x | 0.61x | 0.24x | 0.56x | 0.66x | -0.77x | 1.84x | 15.47x | 0.55x |
| Interest Paid | 0 | 836.12K | 634.37K | 0 | 585.68K | 619.59K | 548.63K | 445.28K | 306.75K | 306.75K | 306.75K | 306.75K | 306.75K | 306.75K | 306.75K | 0 | 306.75K | 306.75K | 306.75K | 306.75K |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |