Check Point Software Technologies Ltd. (CHKP) Cash Flow Statement
Where CHKP’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $1.20B +14.0% vs 2024
- Capital expenditures
- $26.6M 1.0% of revenue
- Free cash flow
- $1.17B 43.0% margin
- Returned to shareholders
- $1.40B 119% of free cash flow
- Change in cash
- $1.29B cash at year-end $1.80B
Drawn to scale: where the cash came from and how it was used. Hover for values.
CHKP operating cash flow, capex and free cash flow
CHKP cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $949.3M2016 | $1.20B2025 | +2.6%/yr | |
| Capital expenditures | $24.1M2016 | $26.6M2025 | +1.1%/yr | |
| Free cash flow | $925.2M2016 | $1.17B2025 | +2.7%/yr | |
| Free cash flow margin | 53.1%2016 | 43.0%2025 | −10.1 pts | |
| Operating cash flow / net income | 1.312016 | 1.132025 | −0.17 | |
| Stock-based compensation | $82.7M2016 | $205.6M2025 | +10.6%/yr | |
| Share buybacks (net) | $987.9M2016 | $1.40B2025 | +3.9%/yr | |
| Capex / revenue | 1.4%2016 | 1.0%2025 | −0.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CHKP cash flow by activity
CHKP 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).
CHKP cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $1.06B | $845.7M | $840.3M | $796.9M | $815.6M | $846.6M | $825.7M | $821.3M | $802.9M | $724.8M |
| Depreciation & amortization | $92.9M | $83.6M | $47.4M | $36.2M | $30.7M | $27.1M | $24.0M | $20.8M | $16.7M | $14.7M |
| Stock-based compensation | $205.6M | $149.7M | $145.3M | $131.4M | $120.3M | $112.5M | $106.7M | $89.3M | $87.4M | $82.7M |
| Change in working capital | −$98.1M | −$8.4M | $4.5M | $115.8M | $216.2M | $154.2M | $133.4M | $180.2M | $117.1M | $156.5M |
| Other non-cash items | −$57.9M | −$18.2M | $400,000 | $18.2M | $21.1M | $20.6M | $14.5M | $32.0M | $85.5M | −$29.6M |
| Cash from operating activities | $1.20B | $1.05B | $1.04B | $1.10B | $1.20B | $1.16B | $1.10B | $1.14B | $1.11B | $949.3M |
| Investing activities | ||||||||||
| Capital expenditures | −$26.6M | −$24.2M | −$18.6M | −$22.1M | −$15.9M | −$19.3M | −$25.9M | −$17.2M | −$28.8M | −$24.1M |
| Investments (net) | −$220.8M | −$24.0M | −$411.4M | −$70.4M | −$235.6M | −$55.8M | $60.0M | −$330.0M | −$178.8M | −$109.8M |
| Acquisitions & other investing | −$433.0M | $24.2M | $898.7M | $86.1M | $176.2M | −$23.1M | $25.9M | $17.2M | $28.8M | $24.1M |
| Cash from investing activities | −$680.4M | −$24.0M | $468.7M | −$6.4M | −$75.3M | −$98.2M | $60.0M | −$330.0M | −$178.8M | −$109.8M |
| Financing activities | ||||||||||
| Share repurchases & issuance (net) | −$1.40B | −$1.30B | −$1.29B | −$1.30B | −$1.30B | −$1.30B | −$1.28B | −$1.10B | −$995.3M | −$987.9M |
| Net borrowing (repayment) | $1.97B | $0 | $0 | — | — | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $330.3M | $216.8M | $95.3M | $353.5M | $0 | $0 |
| Other financing | $180.3M | $240.0M | $122.7M | $131.9M | −$143.2M | −$5.4M | −$6.0M | −$4.6M | $122.1M | $143.5M |
| Cash from financing activities | $752.0M | −$1.06B | −$1.16B | −$1.17B | −$1.11B | −$1.09B | −$1.19B | −$755.0M | −$873.2M | −$844.4M |
| Summary | ||||||||||
| Net change in cash | $1.29B | −$31.5M | $341.7M | −$75.9M | $16.2M | −$23.5M | −$24.4M | $58.6M | $57.6M | −$4.9M |
| Cash at end of period | $1.80B | $506.2M | $537.7M | $196.0M | $271.9M | $255.7M | $279.2M | $303.6M | $245.0M | $187.4M |
| Free cash flow | $1.17B | $1.03B | $1.02B | $1.08B | $1.19B | $1.14B | $1.08B | $1.13B | $1.08B | $925.2M |
| Free cash flow margin | 43.0% | 40.1% | 42.2% | 46.2% | 54.8% | 55.3% | 54.1% | 58.8% | 58.3% | 53.1% |
| Capex / revenue | 1.0% | 0.9% | 0.8% | 0.9% | 0.7% | 0.9% | 1.3% | 0.9% | 1.6% | 1.4% |
| Operating cash flow / net income | 1.13 | 1.24 | 1.24 | 1.38 | 1.48 | 1.37 | 1.34 | 1.39 | 1.38 | 1.31 |
| 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 | $193.8M | $191.6M | $304.5M | $358.7M | $202.8M | $190.9M | $257.5M | $206.9M | $197.4M | $183.9M | $249.2M | $205.0M |
| Depreciation & amortization | $19.3M | $19.5M | $17.8M | $25.4M | $25.3M | $24.4M | $25.5M | $18.6M | $18.7M | $20.8M | $19.2M | $9.8M |
| Stock-based compensation | $55.9M | $59.8M | $56.4M | $62.1M | $45.9M | $41.2M | $29.8M | $39.0M | $39.3M | $41.6M | $39.9M | $36.5M |
| Change in working capital | −$99.6M | $172.3M | −$55.4M | −$223.5M | −$8.3M | $187.3M | −$53.3M | −$23.8M | −$56.1M | $124.8M | −$53.7M | −$37.7M |
| Other non-cash items | $200,000 | $2.1M | −$38.8M | $48.2M | −$3.6M | −$22.7M | −$16.9M | $8.2M | $600,000 | −$10.1M | −$15.6M | $8.7M |
| Cash from operating activities | $169.6M | $445.3M | $284.5M | $271.0M | $262.1M | $421.1M | $242.6M | $248.9M | $199.9M | $361.0M | $239.0M | $222.3M |
| Investing activities | ||||||||||||
| Capital expenditures | −$8.9M | −$9.4M | −$7.2M | −$5.9M | −$6.1M | −$7.4M | −$6.5M | −$4.8M | −$6.4M | −$6.5M | −$4.7M | −$6.1M |
| Investments (net) | — | — | −$338.7M | −$165.8M | −$89.8M | −$7.4M | $179.5M | −$190.6M | −$6.4M | −$6.5M | $937.6M | −$6.5M |
| Acquisitions & other investing | −$2.2M | −$92.2M | −$189.4M | $118.4M | $6.1M | $7.4M | $6.5M | $4.8M | $6.4M | $6.5M | $4.7M | −$448.5M |
| Cash from investing activities | −$11.1M | −$101.6M | −$535.3M | −$53.3M | −$89.8M | −$7.4M | $179.5M | −$190.6M | −$6.4M | −$6.5M | $937.6M | −$461.1M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | −$324.9M | −$325.0M | −$425.0M | −$366.8M | −$325.0M | −$325.0M | −$324.9M | −$325.0M | −$325.0M | −$325.0M | −$313.2M | −$324.6M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$900,000 | $33.5M | $1.83B | $163.2M | $125.9M | $44.5M | $7.5M | $41.5M | $146.5M | $44.5M | $14.8M | $30.5M |
| Cash from financing activities | −$325.8M | −$291.5M | $1.41B | −$203.6M | −$199.1M | −$280.5M | −$317.4M | −$283.5M | −$178.5M | −$280.5M | −$298.4M | −$294.1M |
| Summary | ||||||||||||
| Net change in cash | −$176.3M | $52.2M | $1.18B | $10.3M | −$18.6M | $148.2M | −$2.37B | −$185.1M | $22.6M | $75.6M | −$2.45B | −$526.8M |
| Cash at end of period | $4.20B | $1.85B | $1.80B | $619.9M | $2.91B | $2.93B | $506.2M | $2.87B | $3.06B | $3.04B | $537.7M | $2.99B |
| Free cash flow | $160.7M | $435.9M | $277.3M | $265.1M | $256.0M | $413.7M | $236.1M | $244.1M | $193.5M | $354.5M | $234.3M | $216.2M |
| Free cash flow margin | 23.9% | 65.2% | 37.2% | 39.1% | 38.5% | 64.9% | 33.6% | 38.4% | 30.8% | 59.2% | 35.3% | 36.3% |
| Capex / revenue | 1.3% | 1.4% | 1.0% | 0.9% | 0.9% | 1.2% | 0.9% | 0.8% | 1.0% | 1.1% | 0.7% | 1.0% |
| Operating cash flow / net income | 0.88 | 2.32 | 0.93 | 0.76 | 1.29 | 2.21 | 0.94 | 1.20 | 1.01 | 1.96 | 0.96 | 1.08 |
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.
CHKP cash generation
In fiscal 2025 (ended December 31, 2025), Check Point Software Technologies generated $1.2 billion of cash from operations (up 14.0%) and spent $26.6 million on capital expenditures, leaving free cash flow of $1.2 billion, 43.0% of revenue. It returned $1.4 billion to shareholders through dividends ($0) and net share buybacks ($1.4 billion). Cash and equivalents rose by $1.3 billion over the year.
Related: CHKP income statement, CHKP balance sheet. See the CHKP stock overview for the latest quote and news.
CHKP cash flow FAQ
What is Check Point Software Technologies's free cash flow?
Check Point Software Technologies's free cash flow was $1.2 billion in fiscal 2025: $1.2 billion of operating cash flow minus $26.6 million of capital expenditures It was $1.0 billion a year earlier..
How much cash does Check Point Software Technologies generate from operations?
Check Point Software Technologies generated $1.2 billion of cash from operating activities in fiscal 2025, 1.13 times its net income of $1.1 billion.
How much does Check Point Software Technologies spend on capital expenditures?
Check Point Software Technologies spent $26.6 million on capital expenditures in fiscal 2025, 1.0% of revenue, compared with $24.2 million the year before.
How much stock does Check Point Software Technologies buy back?
Check Point Software Technologies spent $1.4 billion on net share repurchases in fiscal 2025.