Crawford & Company (CRD-A) Cash Flow Statement
Where CRD-A’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $101.8M +97.3% vs 2024
- Capital expenditures
- $7.0M 0.5% of revenue
- Free cash flow
- $94.8M 7.2% margin
- Returned to shareholders
- $24.8M 26% of free cash flow
- Change in cash
- $8.2M cash at year-end $64.5M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CRD-A operating cash flow, capex and free cash flow
CRD-A cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $98.9M2016 | $101.8M2025 | +0.3%/yr | |
| Capital expenditures | $29.2M2016 | $7.0M2025 | −14.7%/yr | |
| Free cash flow | $69.7M2016 | $94.8M2025 | +3.5%/yr | |
| Free cash flow margin | 5.9%2016 | 7.2%2025 | +1.3 pts | |
| Operating cash flow / net income | 2.622016 | 5.182025 | +2.55 | |
| Stock-based compensation | $5.3M2016 | $5.2M2025 | −0.1%/yr | |
| Dividends paid | $13.6M2016 | $14.3M2025 | +0.6%/yr | |
| Share buybacks (net) | $1.3M2016 | $10.5M2025 | +25.7%/yr | |
| Capex / revenue | 2.5%2016 | 0.5%2025 | −1.9 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CRD-A cash flow by activity
CRD-A 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).
CRD-A cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $19.7M | $26.5M | $30.6M | −$18.5M | $30.5M | $27.1M | $9.5M | $25.6M | $27.2M | $37.7M |
| Depreciation & amortization | $40.0M | $36.2M | $35.7M | $36.1M | $40.2M | $40.1M | $40.5M | $44.1M | $41.7M | $40.7M |
| Stock-based compensation | $5.2M | $5.8M | $5.6M | $4.9M | $7.6M | $4.4M | $4.1M | $6.2M | $6.7M | $5.3M |
| Change in working capital | $37.0M | −$13.3M | $39.8M | −$40.5M | −$21.0M | $26.7M | $544,000 | −$52.7M | −$52.0M | $4.6M |
| Other non-cash items | −$73,000 | −$3.5M | −$8.0M | $45.6M | −$3.0M | −$5.1M | $20.5M | $29.3M | $17.2M | $10.6M |
| Cash from operating activities | $101.8M | $51.6M | $103.8M | $27.6M | $54.3M | $93.2M | $75.2M | $52.4M | $40.8M | $98.9M |
| Investing activities | ||||||||||
| Capital expenditures | −$7.0M | −$41.6M | −$36.6M | −$34.6M | −$31.0M | −$37.4M | −$21.1M | −$30.0M | −$44.9M | −$29.2M |
| Investments (net) | — | −$41.6M | −$36.6M | −$57.9M | −$70.8M | −$27.0M | −$23.4M | $6.4M | −$81.9M | −$33.0M |
| Acquisitions & other investing | −$29.2M | $41.6M | $36.6M | $34.6M | $31.0M | $37.4M | $21.1M | $30.0M | $44.9M | $29.2M |
| Cash from investing activities | −$36.2M | −$41.6M | −$36.6M | −$57.9M | −$70.8M | −$27.0M | −$23.4M | $6.4M | −$81.9M | −$33.0M |
| Financing activities | ||||||||||
| Dividends paid | −$14.3M | −$13.8M | −$12.7M | −$11.8M | −$12.7M | −$9.6M | −$13.2M | −$13.5M | −$13.7M | −$13.6M |
| Share repurchases & issuance (net) | −$10.5M | −$3.9M | −$2.7M | −$26.7M | −$19.1M | −$2.7M | −$26.2M | −$11.5M | −$7.4M | −$1.3M |
| Net borrowing (repayment) | −$29.8M | $8.4M | −$31.5M | $67.4M | $58.7M | −$61.6M | −$14.8M | −$34.5M | $32.8M | −$39.4M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.4M | $0 | $0 |
| Other financing | −$3.0M | −$3.6M | −$7.7M | −$2.9M | −$2.2M | −$463,000 | $726,000 | −$574,000 | −$1.3M | −$844,000 |
| Cash from financing activities | −$57.6M | −$12.9M | −$54.7M | $25.9M | $24.7M | −$74.4M | −$53.4M | −$58.7M | $10.3M | −$55.2M |
| Summary | ||||||||||
| Net change in cash | $8.2M | −$3.2M | $12.9M | −$7.0M | $9.0M | −$7.1M | −$1.3M | −$892,000 | −$27.6M | $5.5M |
| Cash at end of period | $64.5M | $56.3M | $59.5M | $46.6M | $53.7M | $44.7M | $51.8M | $53.1M | $54.0M | $81.6M |
| Free cash flow | $94.8M | $10.0M | $67.2M | −$7.0M | $23.4M | $55.8M | $54.1M | $22.4M | −$4.2M | $69.7M |
| Free cash flow margin | 7.2% | 0.7% | 5.1% | −0.6% | 2.1% | 5.5% | 5.2% | 2.0% | −0.4% | 5.9% |
| Capex / revenue | 0.5% | 3.1% | 2.8% | 2.8% | 2.7% | 3.7% | 2.0% | 2.7% | 3.9% | 2.5% |
| Operating cash flow / net income | 5.18 | 1.95 | 3.39 | — | 1.78 | 3.44 | 7.90 | 2.05 | 1.50 | 2.62 |
| 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 | $13.4M | $4.9M | −$7.2M | $12.4M | $7.8M | $6.7M | $5.9M | $9.5M | $8.6M | $2.8M | −$989,000 | $12.2M |
| Depreciation & amortization | $9.5M | $9.6M | $10.5M | $10.1M | $9.8M | $9.6M | $9.2M | $8.8M | $8.8M | $9.3M | $8.4M | $9.1M |
| Stock-based compensation | $481,000 | $1.0M | $357,000 | $52,000 | $214,000 | $1.4M | $1.9M | $188,000 | $139,000 | $1.2M | $1.4M | $1.6M |
| Change in working capital | −$7.1M | −$12.1M | $48.1M | $6.4M | $15.1M | −$32.6M | $25.4M | $2.3M | −$2.8M | −$33.2M | $37.7M | $15.9M |
| Other non-cash items | $3.6M | −$192,000 | −$1.6M | $1.7M | $2.1M | $927,000 | −$1.9M | −$1.4M | −$3.2M | $70,000 | −$10.8M | $2.1M |
| Cash from operating activities | $19.9M | $3.3M | $50.1M | $30.6M | $35.0M | −$13.9M | $40.5M | $19.3M | $11.6M | −$19.8M | $35.7M | $40.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$7.9M | −$7.9M | −$3.2M | −$1.4M | −$1.4M | −$9.3M | −$12.2M | −$1.6M | −$123,000 | −$9.6M | −$8.9M | −$9.7M |
| Investments (net) | — | — | — | — | −$9.2M | −$9.1M | −$12.2M | −$11.0M | −$8.9M | −$9.6M | −$8.9M | −$9.7M |
| Acquisitions & other investing | $6.0M | $0 | −$7.7M | −$5.6M | $1.4M | $9.3M | $12.2M | $1.6M | $123,000 | $9.6M | $8.9M | $9.7M |
| Cash from investing activities | −$1.8M | −$7.9M | −$11.0M | −$7.0M | −$9.2M | −$9.1M | −$12.2M | −$11.0M | −$8.9M | −$9.6M | −$8.9M | −$9.7M |
| Financing activities | ||||||||||||
| Dividends paid | −$3.6M | −$3.7M | −$3.7M | −$3.7M | −$3.5M | −$3.5M | −$3.4M | −$3.4M | −$3.4M | −$3.4M | −$3.4M | −$3.4M |
| Share repurchases & issuance (net) | −$3.5M | −$5.5M | −$7.6M | −$3.0M | $0 | $0 | −$263,000 | −$1.5M | −$1.3M | −$733,000 | −$2.1M | −$582,000 |
| Net borrowing (repayment) | $4.0M | $5.0M | −$29.1M | — | −$21.9M | $28.5M | −$20.6M | $4.2M | $3.8M | — | — | −$24.8M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$4.9M | $7.6M | −$3.5M | −$6.1M | −$734,000 | −$38,000 | −$1.8M | −$1.6M | $549,000 | $20.2M | −$11.0M | −$740,000 |
| Cash from financing activities | −$8.0M | $3.4M | −$43.8M | −$12.7M | −$26.1M | $25.0M | −$26.2M | −$2.3M | −$418,000 | $16.1M | −$16.6M | −$29.6M |
| Summary | ||||||||||||
| Net change in cash | $9.4M | −$108,000 | −$4.6M | $10.2M | $898,000 | $1.7M | $1.6M | $6.3M | $1.7M | −$12.9M | $9.3M | $1.8M |
| Cash at end of period | $73.8M | $64.4M | $64.5M | $69.1M | $58.9M | $58.0M | $56.3M | $54.7M | $48.3M | $46.7M | $59.5M | $50.3M |
| Free cash flow | $27.7M | −$4.6M | $46.9M | $29.3M | $33.6M | −$23.2M | $28.3M | $17.8M | $11.7M | −$29.4M | $26.8M | $31.2M |
| Free cash flow margin | 8.4% | −1.4% | 14.6% | 9.1% | 10.0% | −7.2% | 7.9% | 5.2% | 3.6% | −9.4% | 8.4% | 9.1% |
| Capex / revenue | 2.4% | 2.4% | 1.0% | 0.4% | 0.4% | 2.9% | 3.4% | 0.5% | 0.0% | 3.1% | 2.8% | 2.8% |
| Operating cash flow / net income | 1.48 | 0.67 | — | 2.47 | 4.50 | −2.07 | 6.91 | 2.05 | 1.35 | −7.13 | — | 3.36 |
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.
CRD-A cash generation
In fiscal 2025 (ended December 31, 2025), Crawford & Company generated $101.8 million of cash from operations (up 97.3%) and spent $7.0 million on capital expenditures, leaving free cash flow of $94.8 million, 7.2% of revenue. It returned $24.8 million to shareholders through dividends ($14.3 million) and net share buybacks ($10.5 million). Cash and equivalents rose by $8.2 million over the year.
Related: CRD-A income statement, CRD-A balance sheet, CRD-A dividend history. See the CRD-A stock overview for the latest quote and news.
CRD-A cash flow FAQ
What is Crawford & Company's free cash flow?
Crawford & Company's free cash flow was $94.8 million in fiscal 2025: $101.8 million of operating cash flow minus $7.0 million of capital expenditures It was $10.0 million a year earlier..
How much cash does Crawford & Company generate from operations?
Crawford & Company generated $101.8 million of cash from operating activities in fiscal 2025, 5.18 times its net income of $19.7 million.
How much does Crawford & Company spend on capital expenditures?
Crawford & Company spent $7.0 million on capital expenditures in fiscal 2025, 0.5% of revenue, compared with $41.6 million the year before.
How much stock does Crawford & Company buy back?
Crawford & Company spent $10.5 million on net share repurchases in fiscal 2025.
How much does Crawford & Company pay in dividends?
Crawford & Company paid $14.3 million in dividends in fiscal 2025, 15.1% of free cash flow.