Albemarle Corporation (ALB) Cash Flow Statement
Where ALB’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $1.28B +86.4% vs 2024
- Capital expenditures
- $589.8M 11.5% of revenue
- Free cash flow
- $692.5M 13.5% margin
- Returned to shareholders
- $357.3M 52% of free cash flow
- Change in cash
- $425.8M cash at year-end $1.62B
Cash from operations
$1.28B
Capital expenditures
−$589.8M
Investments (net)
+$411.2M
Acquisitions & other
+$32.6M
Dividends
−$357.3M
Net borrowing (repayment)
−$454.7M
Other financing
−$25.5M
Currency & other
+$126.9M
Change in cash
$425.8M
Drawn to scale: where the cash came from and how it was used. Hover for values.
ALB operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ALB cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $733.4M2016 | $1.28B2025 | +6.4%/yr | |
| Capital expenditures | $196.7M2016 | $589.8M2025 | +13.0%/yr | |
| Free cash flow | $536.7M2016 | $692.5M2025 | +2.9%/yr | |
| Free cash flow margin | 20.0%2016 | 13.5%2025 | −6.6 pts | |
| Operating cash flow / net income | 1.082016 | 0.792023 | −0.28 | |
| Stock-based compensation | $17.0M2016 | $40.3M2025 | +10.0%/yr | |
| Dividends paid | $135.4M2016 | $357.3M2025 | +11.4%/yr | |
| Share buybacks (net) | $2.2M2016 | $02025 | −100.0% | |
| Capex / revenue | 7.3%2016 | 11.5%2025 | +4.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ALB cash flow by activity
OperatingInvestingFinancingChange in cash
ALB net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
ALB cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$465.2M | −$1.14B | $1.67B | $2.82B | $199.9M | $446.6M | $604.4M | $739.1M | $99.5M | $680.8M |
| Depreciation & amortization | $658.7M | $588.6M | $429.9M | $300.8M | $254.0M | $232.0M | $213.5M | $200.7M | $196.9M | $226.2M |
| Stock-based compensation | $40.3M | $32.1M | $36.5M | $30.5M | $20.1M | $22.8M | $19.7M | $15.2M | $19.4M | $17.0M |
| Change in working capital | $694.4M | $736.9M | −$1.01B | −$1.41B | $111.7M | −$86.5M | −$114.3M | −$152.0M | −$392.3M | $239.2M |
| Other non-cash items | $354.2M | $465.7M | $196.8M | $176.1M | −$241.5M | $184.0M | −$3.8M | −$256.9M | $380.4M | −$429.8M |
| Cash from operating activities | $1.28B | $687.9M | $1.33B | $1.91B | $344.3M | $798.9M | $719.4M | $546.2M | $304.0M | $733.4M |
| Investing activities | ||||||||||
| Capital expenditures | −$589.8M | −$1.68B | −$2.15B | −$1.26B | −$953.7M | −$850.5M | −$851.8M | −$700.0M | −$317.7M | −$196.7M |
| Investments (net) | $411.2M | −$1.57B | −$2.32B | −$706,000 | −$666.6M | $8.6M | −$1.66B | −$5.9M | −$357.8M | $2.92B |
| Acquisitions & other investing | $32.6M | $1.67B | $1.91B | −$160.3M | $953.7M | −$21.7M | $851.8M | $402.2M | $317.7M | $196.7M |
| Cash from investing activities | −$146.0M | −$1.58B | −$2.56B | −$1.42B | −$666.6M | −$863.6M | −$1.66B | −$303.7M | −$357.8M | $2.92B |
| Financing activities | ||||||||||
| Dividends paid | −$357.3M | −$311.3M | −$187.2M | −$184.4M | −$177.9M | −$161.8M | −$152.2M | −$144.6M | −$140.6M | −$135.4M |
| Share repurchases & issuance (net) | $3.2M | $2.24B | −$27.5M | $2.8M | $79.4M | $40.4M | $4.8M | −$500.0M | −$250.0M | −$2.2M |
| Net borrowing (repayment) | −$454.7M | −$631.8M | $944.2M | $851.1M | −$1.11B | $335.8M | $1.30B | −$113.6M | −$612.5M | −$1.42B |
| Shares issued | $0 | $2.24B | $0 | $0 | $1.45B | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$25.5M | −$2.29B | −$105.6M | −$57.5M | −$192.4M | −$37.2M | −$106.2M | −$28.4M | −$83.9M | −$24.3M |
| Cash from financing activities | −$834.2M | $1.24B | $623.9M | $611.9M | $50.2M | $177.3M | $1.04B | −$786.5M | −$1.09B | −$1.58B |
| Summary | ||||||||||
| Net change in cash | $425.8M | $302.3M | −$609.2M | $1.06B | −$307.5M | $133.6M | $57.8M | −$582.0M | −$1.13B | $2.06B |
| Cash at end of period | $1.62B | $1.19B | $889.9M | $1.50B | $439.3M | $746.7M | $613.1M | $555.3M | $1.14B | $2.27B |
| Free cash flow | $692.5M | −$992.7M | −$828.0M | $646.2M | −$609.4M | −$51.6M | −$132.4M | −$153.8M | −$13.7M | $536.7M |
| Free cash flow margin | 13.5% | −18.5% | −8.6% | 8.8% | −18.3% | −1.6% | −3.7% | −4.6% | −0.4% | 20.0% |
| Capex / revenue | 11.5% | 31.3% | 22.4% | 17.2% | 28.7% | 27.2% | 23.7% | 20.7% | 10.3% | 7.3% |
| Operating cash flow / net income | — | — | 0.79 | 0.68 | 1.72 | 1.79 | 1.19 | 0.74 | 3.06 | 1.08 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $499.2M | $329.0M | −$401.8M | −$147.9M | $35.2M | $49.3M | $85.1M | −$1.06B | −$176.6M | $16.6M | −$603.3M | $320.7M |
| Depreciation & amortization | $155.8M | $157.8M | $163.7M | $164.5M | $168.7M | $161.8M | $163.1M | $163.5M | $138.3M | $123.8M | $144.1M | $105.4M |
| Stock-based compensation | $6.8M | $7.9M | $12.2M | $11.0M | $10.1M | $7.0M | $7.7M | $9.0M | $6.1M | $9.3M | $7.1M | $9.4M |
| Change in working capital | $91.3M | −$144.4M | $322.0M | $151.1M | $243.3M | −$22.0M | $535.1M | $450.1M | $398.8M | −$52.3M | −$183.3M | −$176.6M |
| Other non-cash items | −$43.1M | −$4.0M | $292.3M | $176.9M | −$464.5M | $349.4M | −$790.4M | $665.1M | $539,000 | $559,000 | $537.1M | $369.9M |
| Cash from operating activities | $710.0M | $346.2M | $388.5M | $355.6M | −$7.2M | $545.4M | $674,000 | $227.1M | $367.2M | $98.0M | −$98.2M | $628.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$71.7M | −$98.7M | −$155.4M | −$132.2M | −$119.6M | −$182.6M | −$355.7M | −$303.1M | −$455.3M | −$579.3M | −$684.1M | −$545.9M |
| Investments (net) | −$8.7M | $114.5M | −$28.4M | −$153.0M | $362.9M | −$179.3M | −$327.8M | −$302.1M | −$450.0M | −$494.5M | −$1.07B | −$662.9M |
| Acquisitions & other investing | −$60,000 | $525.1M | $7.1M | $132.2M | $119.6M | $182.6M | $355.7M | $288.2M | $460.6M | $579.3M | $684.1M | −$506.8M |
| Cash from investing activities | −$80.4M | $541.0M | −$176.6M | −$153.0M | $362.9M | −$179.3M | −$327.8M | −$317.1M | −$444.7M | −$494.5M | −$1.07B | −$1.72B |
| Financing activities | ||||||||||||
| Dividends paid | −$89.4M | −$89.4M | −$89.3M | −$89.3M | −$89.3M | −$89.3M | −$89.3M | −$88.7M | −$86.4M | −$46.9M | −$46.9M | −$46.9M |
| Share repurchases & issuance (net) | $3.9M | −$3.9M | $3.2M | $1.5M | −$37,000 | $1.2M | $2.24B | $10.7M | −$58,000 | −$10.6M | $942.8M | $117,000 |
| Net borrowing (repayment) | −$1.1M | −$1.29B | −$441.4M | −$1.3M | −$1.2M | −$10.8M | −$2.4M | −$2.0M | — | — | — | $174.3M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.24B | $0 | $0 |
| Other financing | $6.5M | −$30.6M | −$5.6M | −$1.4M | −$41,000 | −$21.1M | −$2.24B | −$29.9M | −$26.3M | −$621.9M | −$498.9M | −$27.8M |
| Cash from financing activities | −$80.1M | −$1.41B | −$533.0M | −$90.5M | −$90.6M | −$120.0M | −$92.9M | −$110.0M | −$112.7M | $1.56B | $397.0M | $99.7M |
| Summary | ||||||||||||
| Net change in cash | $541.9M | −$528.2M | −$313.8M | $124.9M | $288.3M | $326.3M | −$472.3M | −$165.7M | −$225.6M | $1.17B | −$711.8M | $1.9M |
| Cash at end of period | $1.63B | $1.09B | $1.62B | $1.93B | $1.81B | $1.52B | $1.19B | $1.66B | $1.83B | $2.06B | $889.9M | $1.60B |
| Free cash flow | $638.3M | $247.6M | $233.1M | $223.4M | −$126.8M | $362.8M | −$355.1M | −$76.0M | −$88.1M | −$481.4M | −$782.3M | $83.0M |
| Free cash flow margin | 36.6% | 17.3% | 16.3% | 17.1% | −9.5% | 33.7% | −28.8% | −5.6% | −6.2% | −35.4% | −33.2% | 3.6% |
| Capex / revenue | 4.1% | 6.9% | 10.9% | 10.1% | 9.0% | 17.0% | 28.9% | 22.4% | 31.8% | 42.6% | 29.0% | 23.6% |
| Operating cash flow / net income | 1.42 | 1.05 | — | — | −0.20 | 11.06 | 0.01 | — | — | 5.88 | — | 1.96 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
ALB cash generation
In fiscal 2025 (ended December 31, 2025), Albemarle generated $1.3 billion of cash from operations (up 86.4%) and spent $589.8 million on capital expenditures, leaving free cash flow of $692.5 million, 13.5% of revenue. It returned $357.3 million to shareholders through dividends ($357.3 million) and net share buybacks ($0). Cash and equivalents rose by $425.8 million over the year.
Related: ALB income statement, ALB balance sheet, ALB dividend history. See the ALB stock overview for the latest quote and news.
ALB cash flow FAQ
What is Albemarle's free cash flow?
Albemarle's free cash flow was $692.5 million in fiscal 2025: $1.3 billion of operating cash flow minus $589.8 million of capital expenditures It was -$992.7 million a year earlier..
How much cash does Albemarle generate from operations?
Albemarle generated $1.3 billion of cash from operating activities in fiscal 2025.
How much does Albemarle spend on capital expenditures?
Albemarle spent $589.8 million on capital expenditures in fiscal 2025, 11.5% of revenue, compared with $1.7 billion the year before.
How much does Albemarle pay in dividends?
Albemarle paid $357.3 million in dividends in fiscal 2025, 51.6% of free cash flow.