Capital Clean Energy Carriers Corp. (CCEC) Cash Flow Statement
Where CCEC’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $242.1M +0.6% vs 2024
- Capital expenditures
- $315.3M 154.8% of revenue
- Free cash flow
- −$73.3M −36.0% margin
- Returned to shareholders
- $19.0M
- Change in cash
- −$31.8M cash at year-end $280.9M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CCEC operating cash flow, capex and free cash flow
CCEC cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $155.1M2016 | $242.1M2025 | +5.1%/yr | |
| Capital expenditures | $90.8M2016 | $315.3M2025 | +14.8%/yr | |
| Free cash flow | $64.3M2016 | −$73.3M2025 | — | |
| Free cash flow margin | 25.1%2016 | −36.0%2025 | −61.1 pts | |
| Operating cash flow / net income | 3.022016 | 2.132025 | −0.88 | |
| Stock-based compensation | $1.1M2016 | $6.4M2025 | +21.9%/yr | |
| Dividends paid | $67.1M2016 | $19.0M2025 | −13.1%/yr | |
| Share buybacks (net) | $116.8M2019 | $02025 | −100.0% | |
| Capex / revenue | 35.4%2016 | 154.8%2025 | +119.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CCEC cash flow by activity
CCEC 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).
CCEC cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $113.4M | $53.1M | $5.5M | $119.6M | $94.3M | $29.8M | $24.2M | −$7.3M | $37.8M | $51.4M |
| Depreciation & amortization | $109.8M | $102.0M | $50.2M | $81.3M | $54.2M | $53.1M | $43.6M | $47.2M | $89.2M | $86.4M |
| Stock-based compensation | $6.4M | $6.9M | $3.8M | $3.8M | $2.0M | $2.0M | $907,000 | $613,000 | $1.2M | $1.1M |
| Change in working capital | −$472,000 | $26.7M | $16.1M | $7.0M | $618,000 | −$7.9M | −$24.8M | −$10.2M | −$6.4M | $13.8M |
| Other non-cash items | $12.9M | $51.8M | $113.8M | −$43.5M | −$46.2M | −$1.2M | $9.4M | $67.5M | $208,000 | $2.3M |
| Cash from operating activities | $242.1M | $240.5M | $189.4M | $168.2M | $105.0M | $75.9M | $53.4M | $97.8M | $122.0M | $155.1M |
| Investing activities | ||||||||||
| Capital expenditures | −$315.3M | −$1.20B | −$451.6M | −$141.2M | −$368.1M | −$185.2M | −$6.5M | −$2.4M | −$2.0M | −$90.8M |
| Investments (net) | — | −$753.1M | −$447.1M | −$14.1M | −$175.1M | −$185.2M | — | — | — | — |
| Acquisitions & other investing | $230.8M | $1.20B | $451.6M | $141.2M | $368.1M | $185.2M | −$1.5M | −$2.0M | $0 | −$1.0M |
| Cash from investing activities | −$84.6M | −$753.1M | −$447.1M | −$14.1M | −$175.1M | −$185.2M | −$8.0M | −$4.5M | −$2.0M | −$91.8M |
| Financing activities | ||||||||||
| Dividends paid | −$19.0M | −$33.8M | −$12.2M | −$11.9M | −$7.5M | −$16.8M | −$28.3M | −$51.8M | −$50.9M | −$67.1M |
| Share repurchases & issuance (net) | $0 | $0 | −$4.1M | −$5.9M | −$4.5M | $0 | −$116.8M | — | — | — |
| Net borrowing (repayment) | −$76.4M | $789.5M | $316.5M | $104.2M | $58.8M | — | — | — | — | — |
| Shares issued | $207,000 | $0 | $45.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$102.6M | −$110.7M | −$39.0M | −$117.0M | −$140,000 | $117.0M | $125.1M | −$74.6M | −$112.5M | $20.3M |
| Cash from financing activities | −$197.8M | $645.0M | $307.0M | −$30.7M | $46.7M | $100.2M | −$20.1M | −$126.4M | −$163.3M | −$46.8M |
| Summary | ||||||||||
| Net change in cash | −$31.8M | $121.6M | $47.8M | $124.3M | −$27.0M | −$10.6M | $36.8M | −$42.1M | −$43.4M | $16.5M |
| Cash at end of period | $280.9M | $314.0M | $192.4M | $144.6M | $20.4M | $47.3M | $58.0M | $21.2M | $63.3M | $106.7M |
| Free cash flow | −$73.3M | −$960.7M | −$262.2M | $27.0M | −$263.1M | −$109.3M | $46.9M | $95.4M | $119.9M | $64.3M |
| Free cash flow margin | −36.0% | −260.1% | −72.7% | 9.0% | −142.5% | −77.6% | 38.2% | 72.3% | 45.4% | 25.1% |
| Capex / revenue | 154.8% | 325.2% | 125.2% | 47.2% | 199.3% | 131.5% | 5.3% | 1.8% | 0.8% | 35.4% |
| Operating cash flow / net income | 2.13 | 4.53 | 34.55 | 1.41 | 1.11 | 2.55 | 2.21 | — | 3.22 | 3.02 |
| 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 | $47.3M | $22.0M | $36.5M | $23.3M | $29.9M | $32.8M | $20.5M | −$34.3M | $12.0M | $33.5M | $876,000 | $16.3M |
| Depreciation & amortization | $47.2M | $28.2M | $24.6M | $26.3M | $29.6M | $29.3M | $28.7M | $16.0M | $23.1M | $21.6M | $12.7M | $21.9M |
| Stock-based compensation | $3.2M | $1.6M | $1.6M | $1.6M | $1.6M | $1.6M | $947,000 | $947,000 | $937,000 | $974,000 | $1.9M | $948,000 |
| Change in working capital | $3.6M | −$558,000 | −$2.4M | $12.2M | −$3.3M | −$7.4M | $8.5M | $13.1M | $6.0M | $2.6M | $6.9M | −$1.4M |
| Other non-cash items | $8.4M | −$1.3M | −$622,000 | $3.2M | $6.1M | −$17,000 | $5.1M | $72.6M | $13.6M | −$11.4M | $34.6M | $1.3M |
| Cash from operating activities | $109.7M | $49.9M | $59.7M | $66.5M | $63.9M | $56.3M | $63.7M | $68.3M | $55.6M | $47.3M | $57.0M | $39.1M |
| Investing activities | ||||||||||||
| Capital expenditures | −$751.5M | −$94.9M | −$134.9M | −$49.7M | −$84.5M | −$51.0M | −$23.8M | −$59.9M | −$885.6M | −$245.2M | −$4.0M | −$10.9M |
| Investments (net) | — | — | — | −$57.3M | −$80.6M | $69.7M | $175.4M | −$64.7M | −$901.2M | $37.5M | $17.5M | −$8.8M |
| Acquisitions & other investing | $115,000 | — | — | $49.7M | $84.1M | $51.0M | $44.3M | $59.9M | $1.08B | $55.2M | $8.4M | $11.1M |
| Cash from investing activities | −$751.4M | — | — | −$57.3M | −$81.0M | $69.7M | $195.8M | −$64.7M | −$707.8M | −$152.5M | $22.0M | −$8.7M |
| Financing activities | ||||||||||||
| Dividends paid | −$6.4M | −$3.4M | −$542,000 | −$652,000 | −$9.5M | −$9.0M | −$8.0M | −$8.3M | −$8.4M | −$8.3M | −$2.9M | −$3.0M |
| Share repurchases & issuance (net) | −$2.1M | — | — | — | — | — | $0 | $0 | — | −$22,000 | $17,863 | −$244,000 |
| Net borrowing (repayment) | $330.2M | $268.5M | $18.8M | −$29.1M | −$33.1M | −$33.0M | −$75.1M | $94.1M | — | — | — | — |
| Shares issued | $0 | $0 | $11,000 | $23,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $258.2M | −$541,000 | −$1.2M | −$4.3M | −$2.6M | −$205,000 | −$24.6M | −$7.5M | $604.4M | $67.1M | $19.6M | −$23.2M |
| Cash from financing activities | $579.9M | $264.6M | $17.1M | −$34.1M | −$45.2M | −$42.2M | −$107.7M | $78.4M | $596.1M | $58.8M | $16.6M | −$26.5M |
| Summary | ||||||||||||
| Net change in cash | −$26.0M | $255.0M | −$36.1M | −$24.9M | −$63.1M | $83.8M | $149.2M | $81.9M | −$58.2M | −$46.4M | $95.7M | $3.8M |
| Cash at end of period | $268.9M | $546.4M | $294.9M | $332.3M | $335.6M | $420.3M | $314.0M | $183.1M | $88.3M | $146.5M | $192.4M | $96.8M |
| Free cash flow | −$641.9M | −$44.9M | −$75.1M | $16.8M | −$20.6M | $5.3M | $87.5M | $8.4M | −$829.9M | −$198.0M | $61.0M | $28.2M |
| Free cash flow margin | −611.9% | −45.8% | −86.6% | 16.9% | −19.8% | 4.8% | 41.5% | 7.9% | −524.4% | −259.9% | 31.9% | 29.5% |
| Capex / revenue | 716.4% | 96.8% | 155.5% | 50.0% | 81.2% | 46.7% | 11.3% | 56.5% | 559.6% | 322.0% | 2.1% | 11.4% |
| Operating cash flow / net income | 2.32 | 2.27 | 1.64 | 2.85 | 2.14 | 1.72 | 3.11 | — | 4.64 | 1.41 | 65.07 | 2.39 |
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.
CCEC cash generation
In fiscal 2025 (ended December 31, 2025), Capital Clean Energy Carriers generated $242.1 million of cash from operations (up 0.6%) and spent $315.3 million on capital expenditures, leaving free cash flow of -$73.3 million, −36.0% of revenue. It returned $19.0 million to shareholders through dividends ($19.0 million) and net share buybacks ($0). Cash and equivalents fell by $31.8 million over the year.
Related: CCEC income statement, CCEC balance sheet, CCEC dividend history. See the CCEC stock overview for the latest quote and news.
CCEC cash flow FAQ
What is Capital Clean Energy Carriers's free cash flow?
Capital Clean Energy Carriers's free cash flow was -$73.3 million in fiscal 2025: $242.1 million of operating cash flow minus $315.3 million of capital expenditures It was -$960.7 million a year earlier..
How much cash does Capital Clean Energy Carriers generate from operations?
Capital Clean Energy Carriers generated $242.1 million of cash from operating activities in fiscal 2025, 2.13 times its net income of $113.4 million.
How much does Capital Clean Energy Carriers spend on capital expenditures?
Capital Clean Energy Carriers spent $315.3 million on capital expenditures in fiscal 2025, 154.8% of revenue, compared with $1.2 billion the year before.
How much does Capital Clean Energy Carriers pay in dividends?
Capital Clean Energy Carriers paid $19.0 million in dividends in fiscal 2025.