ArrowMark Financial Corp. (BANX) Cash Flow Statement
Where BANX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $10.9M −55.0% vs 2024
- Capital expenditures
- $5 0.0% of revenue
- Free cash flow
- $10.9M 62.6% margin
- Returned to shareholders
- $17.6M 162% of free cash flow
- Change in cash
- −$5.7M cash at year-end $3.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
BANX operating cash flow, capex and free cash flow
BANX cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$27.7M2016 | $10.9M2025 | — | |
| Capital expenditures | $02016 | $52025 | — | |
| Free cash flow | −$27.7M2016 | $10.9M2025 | — | |
| Free cash flow margin | −318.5%2016 | 62.6%2025 | +381.1 pts | |
| Operating cash flow / net income | −3.942016 | 0.612025 | +4.55 | |
| Dividends paid | $9.1M2016 | $17.6M2025 | +7.6%/yr | |
| Capex / revenue | 0.0%2016 | 0.0%2025 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BANX cash flow by activity
BANX net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
BANX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $17.9M | $16.7M | $20.2M | $5.4M | $12.6M | $7.8M | $12.6M | $10.0M | $12.0M | $7.0M |
| Change in working capital | −$1.2M | $1.8M | −$895,368 | −$1.2M | $3.9M | −$4.8M | $1.8M | −$539,967 | −$1.1M | −$21.9M |
| Other non-cash items | −$5.8M | $5.6M | −$4.3M | $11.6M | −$36.4M | −$16.2M | $26.8M | $614,531 | −$1.7M | −$12.7M |
| Cash from operating activities | $10.9M | $24.2M | $15.1M | $15.8M | −$19.8M | −$13.2M | $41.2M | $10.1M | $9.2M | −$27.7M |
| Investing activities | ||||||||||
| Capital expenditures | −$5 | $0 | −$1 | −$2 | −$1 | −$1 | −$4 | $0 | $0 | $0 |
| Acquisitions & other investing | $7.6M | −$3.3M | $7.5M | −$2.8M | −$41.0M | −$10.4M | $31.7M | −$25.0M | $32.8M | — |
| Cash from investing activities | $7.6M | −$3.3M | $7.5M | −$2.8M | −$41.0M | −$10.4M | $31.7M | −$25.0M | $32.8M | — |
| Financing activities | ||||||||||
| Dividends paid | −$17.6M | −$13.4M | −$15.0M | −$11.6M | −$10.3M | −$9.9M | −$10.7M | −$9.8M | −$9.5M | −$9.1M |
| Share repurchases & issuance (net) | — | — | — | — | −$17.0M | — | — | — | — | — |
| Net borrowing (repayment) | −$21.6M | $1.8M | −$10.6M | −$4.4M | $17.0M | $25.3M | −$33.3M | $25.2M | −$35.8M | $36.5M |
| Shares issued | $15.0M | $0 | $0 | $458,264 | $10.9M | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | $0 | $17.0M | $0 | $0 | $0 | $0 | $0 |
| Cash from financing activities | −$24.2M | −$11.6M | −$25.6M | −$15.5M | $17.7M | $15.4M | −$44.0M | $15.5M | −$45.2M | $27.4M |
| Summary | ||||||||||
| Net change in cash | −$5.7M | $8.1M | −$3.0M | $311,640 | −$2.2M | $2.2M | −$2.8M | $580,475 | −$3.7M | −$243,670 |
| Cash at end of period | $3.2M | $8.9M | $807,308 | $395,418 | $83,778 | $2.3M | $35,328 | $2.8M | $30,142 | $3.8M |
| Free cash flow | $10.9M | $13.8M | $15.1M | $15.8M | −$19.8M | −$13.2M | $41.2M | −$12.7M | $41.5M | −$27.7M |
| Free cash flow margin | 62.6% | 46.8% | 52.6% | 201.5% | −137.7% | −134.0% | 285.2% | −107.0% | 297.1% | −318.5% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | 0.61 | 1.44 | 0.75 | 2.95 | −1.57 | −1.70 | 3.27 | 1.01 | 0.77 | −3.94 |
| Jun '26 | Dec '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||||
| Net income | $5.8M | $7.6M | $10.3M | $8.4M | $8.4M | $20.2M | $9.1M | $4.5M | $2.7M | $1.4M | $2.7M |
| Change in working capital | $50,062 | −$309,454 | −$902,432 | $911,150 | $911,150 | −$895,368 | −$268,956 | — | −$575,261 | — | −$575,261 |
| Other non-cash items | $3.6M | $981,259 | −$6.8M | $2.8M | $2.8M | −$4.3M | −$2.5M | $3.1M | $5.8M | $6.3M | $5.8M |
| Cash from operating activities | $9.5M | $8.3M | $2.6M | $12.1M | $12.1M | $15.1M | $6.4M | $7.7M | $7.9M | $7.7M | $7.9M |
| Investing activities | |||||||||||
| Capital expenditures | −$3 | −$3 | $0 | −$4 | $0 | $0 | −$4 | $0 | $0 | $0 | $0 |
| Acquisitions & other investing | −$48.7M | $6.8M | $850,760 | −$1.7M | −$1.7M | $7.5M | $6.1M | — | −$1.4M | — | −$1.4M |
| Cash from investing activities | −$48.7M | $6.8M | $850,760 | −$1.7M | −$1.7M | $7.5M | $6.1M | — | −$1.4M | — | −$1.4M |
| Financing activities | |||||||||||
| Dividends paid | −$12.3M | −$6.0M | −$11.6M | −$6.7M | −$6.7M | −$15.0M | −$8.9M | −$4.5M | −$5.8M | −$4.5M | −$5.8M |
| Net borrowing (repayment) | — | — | — | — | — | — | −$3.4M | −$3.4M | −$3.4M | −$3.4M | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $50.5M | −$24.3M | $17.7M | $900,000 | $900,000 | −$10.6M | −$3.4M | $0 | $1.4M | $0 | −$2.0M |
| Cash from financing activities | $38.2M | −$30.3M | $6.1M | −$5.8M | −$5.8M | −$25.6M | −$15.6M | −$7.8M | −$7.8M | −$7.8M | −$7.8M |
| Summary | |||||||||||
| Net change in cash | −$943,147 | −$14.7M | $9.1M | $6.4M | $1.7M | $807,308 | −$3.2M | −$128,559 | $311,640 | −$2.1M | −$10.1M |
| Cash at end of period | $2.3M | $3.2M | $17.9M | $8.9M | $2.5M | $807,308 | $653,415 | $3.8M | $395,418 | $5.3M | $839,727 |
| Free cash flow | $9.5M | $8.3M | $2.6M | $6.9M | $6.9M | $15.1M | $6.4M | $7.7M | $7.9M | $7.7M | $7.9M |
| Free cash flow margin | 81.0% | 71.9% | 44.2% | 47.0% | 46.6% | 99.7% | 47.0% | — | 67.0% | 405.1% | 81.5% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | 1.62 | 1.09 | 0.25 | 1.44 | 1.44 | 0.75 | 0.70 | 1.69 | 2.95 | 5.46 | 2.95 |
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.
BANX cash generation
In fiscal 2025 (ended December 31, 2025), ArrowMark Financial generated $10.9 million of cash from operations (down 55.0%) and spent $0.0 million on capital expenditures, leaving free cash flow of $10.9 million, 62.6% of revenue. It returned $17.6 million to shareholders through dividends ($17.6 million) and net share buybacks ($0). Cash and equivalents fell by $5.7 million over the year.
Related: BANX income statement, BANX balance sheet, BANX dividend history. See the BANX stock overview for the latest quote and news.
BANX cash flow FAQ
What is ArrowMark Financial's free cash flow?
ArrowMark Financial's free cash flow was $10.9 million in fiscal 2025: $10.9 million of operating cash flow minus $0.0 million of capital expenditures It was $13.8 million a year earlier..
How much cash does ArrowMark Financial generate from operations?
ArrowMark Financial generated $10.9 million of cash from operating activities in fiscal 2025, 0.61 times its net income of $17.9 million.
How much does ArrowMark Financial spend on capital expenditures?
ArrowMark Financial spent $0.0 million on capital expenditures in fiscal 2025, 0.0% of revenue.
How much does ArrowMark Financial pay in dividends?
ArrowMark Financial paid $17.6 million in dividends in fiscal 2025, 161.6% of free cash flow.