INNOVATE Corp. (VATE) 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 | 45.5M | 101.1M | 19.2M | 40.4M | -14.1M | 41.4M | -28.4M | 21.5M | -25.4M | 61.2M | 26.1M | 16.2M | -77M | 62.7M | -29.5M | 20.7M | -63.4M | 41.6M | -14.2M | 2.1M |
| Operating CF Margin % | 12.47% | 26.42% | 5.53% | 16.69% | -5.14% | 17.5% | -11.73% | 6.87% | -8.06% | 16.95% | 6.95% | 4.39% | -24.22% | 15.32% | -6.97% | 5.28% | -15.36% | 10.54% | -3.6% | 0.86% |
| Operating CF Growth % | 422.7% | 144.2% | 167.61% | 87.91% | 44.49% | -32.35% | -208.81% | 32.72% | 67.01% | -2.39% | 188.47% | -21.74% | -21.45% | 50.72% | -107.75% | 885.71% | -2436% | 214.6% | -147.97% | -83.2% |
| Net Income | -17.1M | -7.4M | -9.6M | -21M | -25.8M | -17.3M | -16.2M | 14.4M | -20.1M | -10.6M | -8.6M | -11.7M | -8M | -7.3M | -6.7M | -13.9M | -14.1M | 144.4M | -11.6M | -22M |
| Depreciation & Amortization | 7.4M | 4.4M | 7.5M | 7.4M | 7.9M | 8.1M | 8.1M | 8.3M | 8.4M | 8.3M | 7.8M | 9.7M | 10.2M | 10.4M | 10.7M | 10.5M | 10.6M | 11.6M | 12.3M | 7.6M |
| Stock-Based Compensation | 600K | 500K | 700K | 700K | 800K | 2.3M | 300K | 0 | 400K | 200K | 800K | 700K | 500K | 700K | 400K | 500K | 800K | 700K | 0 | 0 |
| Deferred Taxes | 0 | -1.7M | -200K | 0 | 100K | 300K | 0 | 100K | 100K | 0 | 100K | 0 | -5.4M | -100K | 400K | 400K | 400K | 900K | -200K | 700K |
| Other Non-Cash Items | 6.1M | 10.9M | 5.4M | 7.6M | 7.2M | 600K | -100K | -7M | 6.3M | 7.9M | 5.5M | 2M | -11M | 2.2M | 800K | 1.8M | 2M | -149.9M | 1.1M | 13.1M |
| Working Capital Changes | 48.5M | 94.4M | 15.4M | 45.7M | -4.3M | 47.4M | -20.5M | 5.7M | -20.5M | 55.4M | 20.5M | 15.5M | -63.3M | 56.8M | -35.1M | 21.4M | -63.1M | 33.9M | -15.8M | 2.7M |
| Change in Receivables | 64.6M | 40.7M | -20.8M | -26.6M | 200K | 5.8M | -21.6M | 74.5M | 45.4M | 64.1M | 5.2M | -35M | -13.5M | 62.4M | -59M | -7.6M | -47.8M | 85.5M | -68.9M | -62.4M |
| Change in Inventory | 600K | 2.1M | 2.6M | -1M | 1.1M | 500K | -100K | 900K | 600K | -3.8M | 2.1M | 600K | -2.4M | 1.8M | -600K | -600K | -2.5M | 0 | 0 | 0 |
| Change in Payables | -14.2M | 42.5M | 19.7M | -24.4M | 19.3M | 1.7M | -6.2M | -32.7M | -20M | -7.4M | -30.4M | 13.9M | -36.3M | -9.8M | 29.8M | -18.5M | 20.2M | -7.8M | 41.1M | 25.9M |
| Cash from Investing | -9.6M | -7.5M | -4.9M | -6.3M | -3.9M | -9.9M | -3.3M | 2.6M | -3.3M | -2.1M | -5.5M | -4.5M | 51.2M | -4.2M | -6.8M | -4.1M | -7.4M | -8.3M | -186.3M | -104.9M |
| Capital Expenditures | -9.5M | -7.5M | -7.8M | -6.1M | -4.7M | -7.2M | -3.1M | -3.1M | -5.6M | -4.5M | -5.7M | -4.5M | -3.7M | -4.4M | -7.5M | -4.2M | -4.6M | -9.1M | -7M | -4.8M |
| CapEx % of Revenue | 2.6% | 1.96% | 2.25% | 2.52% | 1.71% | 3.04% | 1.28% | 0.99% | 1.78% | 1.25% | 1.52% | 1.22% | 1.16% | 1.07% | 1.77% | 1.07% | 1.11% | 2.31% | 1.77% | 1.97% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.7M | 0 | 0 | 0 | 0 | 54.2M | 0 | 0 | 0 | 0 | 0 | 11.6M | -133.2M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -100K | -4.6M | 2.9M | -200K | 1.1M | -2.7M | -200K | 100K | 2.3M | 2.4M | 200K | 0 | 700K | 200K | 700K | 100K | 1.7M | 800K | -190.9M | 33.1M |
| Cash from Financing | -13.5M | -17.1M | -11.9M | -34.6M | 2.4M | -32.9M | 1.8M | 17.5M | -12.9M | -34.7M | 6.7M | 700K | -38M | -5.1M | 38.4M | -16.4M | 51.2M | -50.3M | -8.8M | 107.7M |
| Debt Issued (Net) | -13M | -15.9M | -11.4M | -33.8M | 2.8M | -32.3M | 2.1M | 9.6M | -37.6M | -34.4M | 7.1M | 8.1M | -20.7M | -3.9M | 39.5M | -15.2M | 53.6M | -45.5M | -7.1M | 121.2M |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -25M | 25M | 0 | 0 | -7M | 0 | 0 | 0 | 0 | 0 | 0 | 500K | -10.4M |
| Dividends Paid | -400K | -700K | -400K | -800K | -300K | -300K | -300K | -300K | -300K | -400K | -200K | -400K | -1.2M | -1.3M | -1.2M | -300K | -2.4M | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10.4M |
| Other Financing | -100K | -500K | -100K | 0 | -100K | -300K | 0 | 33.2M | 0 | 100K | -200K | 0 | -16.1M | 100K | 100K | -900K | 0 | -4.8M | -2.2M | -3.1M |
| Net Change in Cash | 22.5M | 76.6M | 2.1M | 100K | -15.4M | -3.2M | -29.2M | 41.8M | -42.4M | 25.2M | 26.9M | 12.2M | -64.2M | 54.5M | 1M | -1.7M | -19.1M | -16.6M | 46M | -36.1M |
| Free Cash Flow | 36M | 93.6M | 11.4M | 34.3M | -18.8M | 34.2M | -31.5M | 18.4M | -31M | 56.7M | 20.4M | 11.7M | -80.7M | 58.3M | -37M | 16.5M | -68M | 32.5M | -21.2M | -2.7M |
| FCF Margin % | 9.87% | 24.46% | 3.28% | 14.17% | -6.86% | 14.45% | -13.01% | 5.88% | -9.84% | 15.71% | 5.44% | 3.17% | -25.39% | 14.24% | -8.75% | 4.21% | -16.47% | 8.23% | -5.37% | -1.11% |
| FCF Growth % | 291.49% | 173.68% | 136.19% | 86.41% | 39.35% | -39.68% | -254.41% | 57.27% | 61.59% | -2.74% | 155.14% | -29.09% | -18.68% | 79.38% | -74.53% | 711.11% | -1092.98% | 182.28% | -184.8% | -136% |
| FCF per Share | 2.70 | 7.02 | 0.86 | 2.61 | -1.43 | 2.61 | -2.43 | 1.28 | -3.94 | 7.22 | 2.60 | 1.50 | -10.39 | 7.51 | -4.77 | 2.13 | -8.80 | 4.20 | -2.75 | -0.35 |
| FCF Conversion (FCF/Net Income) | -2.71x | -13.66x | -2.16x | -2.04x | 0.58x | -2.49x | 1.89x | 1.49x | 1.46x | -6.58x | -3.73x | -1.64x | 8.56x | -11.00x | 5.46x | -1.67x | 5.11x | -8.85x | 0.07x | -0.09x |
| Interest Paid | 0 | 0 | 0 | 0 | 19.5M | 4.7M | 0 | 0 | 19.6M | 0 | 0 | 0 | 19.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 800K | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |