DMC Global Inc. (BOOM) Cash Flow Statement
Where BOOM’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $53.5M +14.9% vs 2024
- Capital expenditures
- $16.5M 2.7% of revenue
- Free cash flow
- $37.0M 6.1% margin
- Returned to shareholders
- $1.2M 3% of free cash flow
- Change in cash
- $17.6M cash at year-end $31.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
BOOM operating cash flow, capex and free cash flow
BOOM cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $18.2M2016 | $53.5M2025 | +12.7%/yr | |
| Capital expenditures | $5.7M2016 | $16.5M2025 | +12.5%/yr | |
| Free cash flow | $12.5M2016 | $37.0M2025 | +12.8%/yr | |
| Free cash flow margin | 7.9%2016 | 6.1%2025 | −1.8 pts | |
| Operating cash flow / net income | 0.912018 | 1.902023 | +0.99 | |
| Stock-based compensation | $2.3M2016 | $5.5M2025 | +10.1%/yr | |
| Dividends paid | $1.1M2016 | $2.5M2024 | +10.2%/yr | |
| Share buybacks (net) | $25,0002016 | $1.2M2025 | +53.2%/yr | |
| Capex / revenue | 3.6%2016 | 2.7%2025 | −0.9 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BOOM cash flow by activity
BOOM 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).
BOOM cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$11.7M | −$152.0M | $34.8M | $13.8M | −$1.0M | −$1.4M | $34.0M | $30.5M | −$18.9M | −$6.5M |
| Depreciation & amortization | $34.0M | $35.0M | $36.5M | $51.2M | $12.7M | $11.1M | $9.9M | $9.5M | $10.6M | $10.8M |
| Stock-based compensation | $5.5M | $6.9M | $10.3M | $10.1M | $6.6M | $5.7M | $5.2M | $3.6M | $3.0M | $2.3M |
| Change in working capital | $16.9M | $5.0M | −$19.3M | −$32.1M | −$29.4M | $13.5M | −$9.0M | −$13.1M | −$10.7M | $9.9M |
| Other non-cash items | $8.9M | $151.6M | $3.7M | $1.9M | −$1.7M | $1.5M | $24.5M | −$2.8M | $22.8M | $1.7M |
| Cash from operating activities | $53.5M | $46.6M | $65.9M | $44.9M | −$12.8M | $30.4M | $64.6M | $27.6M | $6.7M | $18.2M |
| Investing activities | ||||||||||
| Capital expenditures | −$16.5M | −$17.3M | −$16.0M | −$18.6M | −$8.7M | −$13.9M | −$27.2M | −$45.1M | −$6.2M | −$5.7M |
| Investments (net) | $0 | −$3.6M | −$22.6M | −$20.9M | $25.7M | −$25.7M | −$25.9M | −$45.1M | −$6.2M | −$5.7M |
| Acquisitions & other investing | $9.9M | $17.3M | $10.5M | $18.6M | −$284.9M | $36,000 | $27.2M | $45.1M | $6.2M | $5.7M |
| Cash from investing activities | −$6.6M | −$3.6M | −$28.1M | −$20.9M | −$267.8M | −$39.6M | −$25.9M | −$45.1M | −$6.2M | −$5.7M |
| Financing activities | ||||||||||
| Dividends paid | — | −$2.5M | — | $0 | −$150.0M | −$3.7M | −$2.8M | −$1.2M | −$1.2M | −$1.1M |
| Share repurchases & issuance (net) | −$1.2M | −$1.2M | −$2.5M | −$1.2M | −$2.5M | −$1.9M | −$1.1M | −$453,000 | −$337,000 | −$25,000 |
| Net borrowing (repayment) | −$20.5M | −$45.0M | −$17.5M | −$15.0M | $138.2M | −$3.2M | −$27.3M | $23.1M | $1.9M | −$11.3M |
| Shares issued | $0 | $132,000 | $413,000 | $201,000 | $149.2M | $26.2M | $557,000 | $442,000 | $0 | $0 |
| Other financing | −$7.0M | −$11.2M | −$13.6M | −$12.5M | $147.7M | $0 | $0 | $0 | $296,000 | $321,000 |
| Cash from financing activities | −$28.7M | −$59.8M | −$33.2M | −$28.5M | $282.6M | $17.3M | −$30.6M | $21.9M | $647,000 | −$12.1M |
| Summary | ||||||||||
| Net change in cash | $17.6M | −$16.8M | $5.9M | −$5.7M | $2.6M | $7.8M | $7.0M | $4.4M | $2.6M | $128,000 |
| Cash at end of period | $31.9M | $14.3M | $31.0M | $25.1M | $30.8M | $28.2M | $20.4M | $13.4M | $9.0M | $6.4M |
| Free cash flow | $37.0M | $29.3M | $50.0M | $26.4M | −$21.5M | $16.5M | $37.4M | −$17.5M | $561,000 | $12.5M |
| Free cash flow margin | 6.1% | 4.6% | 6.9% | 4.0% | −8.3% | 7.2% | 9.4% | −5.3% | 0.3% | 7.9% |
| Capex / revenue | 2.7% | 2.7% | 2.2% | 2.8% | 3.3% | 6.0% | 6.8% | 13.8% | 3.2% | 3.6% |
| Operating cash flow / net income | — | — | 1.90 | 3.25 | — | — | 1.90 | 0.91 | — | — |
| 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 | $2.0M | −$6.8M | −$11.7M | −$2.1M | $321,000 | $1.9M | −$1.2M | −$159.4M | $6.3M | $2.3M | $207,000 | $11.5M |
| Depreciation & amortization | $7.9M | $8.1M | $8.6M | $8.5M | $8.5M | $8.4M | $8.9M | $8.7M | $8.7M | $8.7M | $9.2M | $9.1M |
| Stock-based compensation | $794,000 | $863,000 | $1.2M | $1.4M | $1.4M | $1.6M | $1.8M | $1.8M | $1.8M | $1.5M | $1.7M | $1.8M |
| Change in working capital | −$15.1M | −$14.5M | $11.3M | $10.7M | $3.7M | −$8.9M | $3.7M | $13.2M | −$14.1M | $2.2M | $6.1M | $1.1M |
| Other non-cash items | −$3.6M | $10.0M | $5.9M | $730,000 | $1.3M | $1.5M | −$1.5M | $154.7M | −$332,000 | −$1.3M | $5.9M | $607,000 |
| Cash from operating activities | −$8.0M | −$2.4M | $15.2M | $19.3M | $15.2M | $4.5M | $11.8M | $19.0M | $2.3M | $13.4M | $23.2M | $24.2M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.3M | −$2.1M | −$5.6M | −$4.2M | −$2.9M | −$3.8M | −$5.7M | −$6.1M | −$2.5M | −$3.0M | −$8.5M | −$2.3M |
| Investments (net) | — | — | $0 | −$2.3M | $2.6M | −$3.3M | −$5.1M | −$5.7M | −$2.4M | $9.7M | −$13.1M | −$7.4M |
| Acquisitions & other investing | $891,000 | $847,000 | $2.0M | $4.2M | $2.9M | $3.8M | $5.7M | $6.1M | $2.5M | $3.0M | $8.5M | $2.3M |
| Cash from investing activities | −$383,000 | −$1.3M | −$3.5M | −$2.3M | $2.6M | −$3.3M | −$5.1M | −$5.7M | −$2.4M | $9.7M | −$13.1M | −$7.4M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | −$2.5M | — | — | — | — | — |
| Share repurchases & issuance (net) | −$93,000 | −$367,000 | −$587,000 | −$15,000 | −$79,000 | −$484,000 | −$240,000 | −$48,000 | −$16,000 | −$936,000 | −$153,000 | −$157,000 |
| Net borrowing (repayment) | $5.0M | $3.2M | −$6.0M | −$2.2M | −$13.8M | $1.5M | −$3.5M | −$10.0M | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $102,000 | $0 |
| Other financing | $0 | $0 | $0 | −$795,000 | −$5.8M | −$1.2M | −$124,000 | −$3.6M | −$5.4M | −$33.4M | −$6.9M | −$7.8M |
| Cash from financing activities | $4.9M | $2.8M | −$6.6M | −$3.1M | −$19.6M | −$135,000 | −$6.4M | −$13.7M | −$5.4M | −$34.3M | −$7.0M | −$7.9M |
| Summary | ||||||||||||
| Net change in cash | −$3.0M | −$387,000 | $5.5M | $14.0M | −$2.3M | $416,000 | −$222,000 | −$56,000 | −$5.9M | −$10.6M | $3.0M | $9.3M |
| Cash at end of period | $28.6M | $31.5M | $31.9M | $26.4M | $12.4M | $14.7M | $14.3M | $14.5M | $14.6M | $20.4M | $31.0M | $28.1M |
| Free cash flow | −$9.2M | −$4.5M | $9.6M | $15.0M | $12.3M | $709,000 | $6.1M | $12.9M | −$204,000 | $10.5M | $14.7M | $21.9M |
| Free cash flow margin | −5.9% | −3.3% | 6.7% | 9.9% | 7.9% | 0.4% | 4.0% | 8.5% | −0.1% | 6.3% | 8.4% | 12.7% |
| Capex / revenue | 0.8% | 1.6% | 3.9% | 2.8% | 1.9% | 2.4% | 3.7% | 4.0% | 1.5% | 1.8% | 4.9% | 1.4% |
| Operating cash flow / net income | −3.95 | — | — | — | 47.50 | 2.41 | — | — | 0.37 | 5.80 | 111.98 | 2.10 |
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.
BOOM cash generation
In fiscal 2025 (ended December 31, 2025), DMC Global generated $53.5 million of cash from operations (up 14.9%) and spent $16.5 million on capital expenditures, leaving free cash flow of $37.0 million, 6.1% of revenue. It returned $1.2 million to shareholders through dividends ($0) and net share buybacks ($1.2 million). Cash and equivalents rose by $17.6 million over the year.
Related: BOOM income statement, BOOM balance sheet. See the BOOM stock overview for the latest quote and news.
BOOM cash flow FAQ
What is DMC Global's free cash flow?
DMC Global's free cash flow was $37.0 million in fiscal 2025: $53.5 million of operating cash flow minus $16.5 million of capital expenditures It was $29.3 million a year earlier..
How much cash does DMC Global generate from operations?
DMC Global generated $53.5 million of cash from operating activities in fiscal 2025.
How much does DMC Global spend on capital expenditures?
DMC Global spent $16.5 million on capital expenditures in fiscal 2025, 2.7% of revenue, compared with $17.3 million the year before.
How much stock does DMC Global buy back?
DMC Global spent $1.2 million on net share repurchases in fiscal 2025.