CrowdStrike Holdings, Inc. (CRWD) Cash Flow Statement
Where CRWD’s cash came from and went, FY2026
January 31, 2026 · U.S. dollars- Cash from operations
- $1.61B +16.7% vs FY2025
- Capital expenditures
- $302.1M 6.3% of revenue
- Free cash flow
- $1.31B 27.2% margin
- Returned to shareholders
- —
- Change in cash
- $990.0M cash at year-end $5.31B
Cash from operations
$1.61B
Capital expenditures
−$302.1M
Investments (net)
−$11.4M
Acquisitions & other
−$451.0M
Other financing
+$132.5M
Currency & other
+$9.6M
Change in cash
$990.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CRWD operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
CRWD cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$52.0MFY2017 | $1.61BFY2026 | — | |
| Capital expenditures | $12.6MFY2017 | $302.1MFY2026 | +42.3%/yr | |
| Free cash flow | −$64.6MFY2017 | $1.31BFY2026 | — | |
| Free cash flow margin | −122.6%FY2017 | 27.2%FY2026 | +149.8 pts | |
| Stock-based compensation | $2.0MFY2017 | $1.10BFY2026 | +101.6%/yr | |
| Dividends paid | $0FY2017 | $50.3MFY2022 | — | |
| Share buybacks (net) | $0FY2017 | $0FY2025 | — | |
| Capex / revenue | 24.0%FY2017 | 6.3%FY2026 | −17.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CRWD cash flow by activity
OperatingInvestingFinancingChange in cash
CRWD net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
CRWD cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$161.2M | −$16.6M | $89.3M | −$182.3M | −$232.4M | −$92.6M | −$141.8M | −$140.1M | −$135.5M | −$91.3M |
| Depreciation & amortization | $281.5M | $214.0M | $145.3M | $93.8M | $68.8M | $40.1M | $23.5M | $15.4M | $7.7M | $3.0M |
| Stock-based compensation | $1.10B | $865.4M | $631.5M | $526.5M | $310.0M | $149.7M | $79.9M | $20.5M | $12.3M | $2.0M |
| Change in working capital | −$59.3M | −$6.0M | $51.5M | $320.4M | $321.7M | $185.6M | $97.5M | $49.3M | $42.5M | $29.1M |
| Other non-cash items | $454.7M | $324.9M | $248.6M | $182.5M | $106.7M | $73.8M | $40.8M | $31.9M | $14.2M | $5.2M |
| Cash from operating activities | $1.61B | $1.38B | $1.17B | $941.0M | $574.8M | $356.6M | $99.9M | −$23.0M | −$58.8M | −$52.0M |
| Investing activities | ||||||||||
| Capital expenditures | −$302.1M | −$313.8M | −$237.1M | −$266.4M | −$133.7M | −$63.8M | −$87.5M | −$42.6M | −$29.8M | −$12.6M |
| Investments (net) | −$11.4M | −$536.6M | −$340.6M | −$250.0M | −$16.3M | $644.8M | −$542.1M | −$142.0M | $7.9M | −$11.9M |
| Acquisitions & other investing | −$451.0M | $313.8M | $237.1M | −$40.2M | −$414.5M | −$85.5M | $0 | $42.6M | −$6.5M | $12.6M |
| Cash from investing activities | −$764.5M | −$536.6M | −$340.6M | −$556.7M | −$564.5M | $495.4M | −$629.6M | −$142.0M | −$28.3M | −$11.9M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | −$50.3M | −$799.3M | — | $0 | $0 | $0 |
| Share repurchases & issuance (net) | — | $99.6M | $76.4M | $59.4M | $50.3M | $34.3M | $12.4M | $208.5M | $134.1M | $767,000 |
| Net borrowing (repayment) | — | $0 | $0 | −$1.6M | −$1.8M | $739.6M | $739.6M | −$16.2M | −$9.3M | $16.9M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $665.1M | $206.9M | $0 | $0 |
| Other financing | $132.5M | $7.6M | $16.8M | $19.6M | $74.3M | $825.6M | −$710.9M | −$208.8M | $2.0M | −$247,000 |
| Cash from financing activities | $132.5M | $107.2M | $93.2M | $77.4M | $72.5M | $800.1M | $706.1M | $190.4M | $126.8M | $17.5M |
| Summary | ||||||||||
| Net change in cash | $990.0M | $947.1M | $920.7M | $460.3M | $78.0M | $1.65B | $176.4M | $25.2M | $40.4M | −$46.4M |
| Cash at end of period | $5.31B | $4.32B | $3.38B | $2.46B | $2.00B | $1.92B | $264.8M | $88.4M | $63.2M | $22.8M |
| Free cash flow | $1.31B | $1.07B | $929.1M | $674.6M | $441.1M | $292.7M | $12.5M | −$65.6M | −$88.5M | −$64.6M |
| Free cash flow margin | 27.2% | 27.0% | 30.4% | 30.1% | 30.4% | 33.5% | 2.6% | −26.3% | −74.5% | −122.6% |
| Capex / revenue | 6.3% | 7.9% | 7.8% | 11.9% | 9.2% | 7.3% | 18.2% | 17.1% | 25.1% | 24.0% |
| Operating cash flow / net income | — | — | 13.06 | — | — | — | — | — | — | — |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $5.3M | $46.0M | $61.5M | −$34.0M | −$77.6M | −$111.0M | −$92.7M | −$16.8M | $47.0M | $42.8M | $53.7M | $26.7M |
| Depreciation & amortization | $95.4M | $87.9M | $77.5M | $71.8M | $68.0M | $64.1M | $57.4M | $55.2M | $52.6M | $48.7M | $42.4M | $38.4M |
| Stock-based compensation | $376.9M | $297.7M | $274.0M | $282.0M | $287.2M | $253.6M | $272.5M | $208.9M | $200.9M | $183.1M | $176.3M | $159.6M |
| Change in working capital | $309.3M | $130.0M | −$31.9M | −$39.9M | −$56.8M | $69.4M | $19.0M | −$5.7M | −$50.9M | $31.6M | $7.0M | −$11.7M |
| Other non-cash items | −$256.7M | $29.3M | $116.9M | $117.6M | $112.1M | $108.1M | $89.4M | $84.6M | $77.1M | $77.0M | $67.6M | $60.5M |
| Cash from operating activities | $530.3M | $590.9M | $497.9M | $397.5M | $332.8M | $384.1M | $345.7M | $326.1M | $326.6M | $383.2M | $347.0M | $273.5M |
| Investing activities | ||||||||||||
| Capital expenditures | −$124.4M | −$97.6M | −$121.5M | −$100.2M | −$47.8M | −$103.2M | −$104.9M | −$95.0M | −$53.8M | −$60.2M | −$74.0M | −$33.9M |
| Investments (net) | $2.4M | $7.5M | −$1.9M | −$9.8M | −$48.8M | −$101.8M | −$325.0M | −$105.6M | −$54.9M | −$51.1M | $20.4M | −$468.8M |
| Acquisitions & other investing | −$29.5M | −$903.9M | −$4.1M | −$380.9M | $47.8M | $103.2M | $104.9M | $95.0M | $53.8M | $60.2M | $74.0M | $33.9M |
| Cash from investing activities | −$151.6M | −$994.1M | −$127.5M | −$490.9M | −$48.8M | −$101.8M | −$325.0M | −$105.6M | −$54.9M | −$51.1M | $20.4M | −$468.8M |
| Financing activities | ||||||||||||
| Dividends paid | −$21.0M | −$21.0M | — | — | — | — | — | — | — | — | — | — |
| Share repurchases & issuance (net) | $262.2M | −$175.6M | — | — | $74.6M | $0 | — | — | — | — | $76.4M | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$157.3M | $683,000 | $55.9M | $4.8M | −$435,000 | $2.1M | $46.4M | $844,000 | $62.5M | −$2.5M | −$42.9M | $2.1M |
| Cash from financing activities | $84.0M | −$195.9M | $55.9M | $4.8M | $74.2M | $2.1M | $46.4M | $844,000 | $62.5M | −$2.5M | $33.5M | $2.1M |
| Summary | ||||||||||||
| Net change in cash | $460.9M | −$598.9M | $513.5M | −$87.9M | $358.3M | $291.0M | $62.5M | $221.8M | $335.1M | $327.7M | $406.2M | −$197.8M |
| Cash at end of period | $5.18B | $4.72B | $5.31B | $4.89B | $4.97B | $4.62B | $4.32B | $4.26B | $4.04B | $3.71B | $3.38B | $2.97B |
| Free cash flow | $405.9M | $493.3M | $376.4M | $297.4M | $285.0M | $280.9M | $240.8M | $231.2M | $272.9M | $323.1M | $273.0M | $239.6M |
| Free cash flow margin | 27.6% | 35.6% | 28.8% | 24.1% | 24.4% | 25.5% | 22.7% | 22.9% | 28.3% | 35.1% | 32.3% | 30.5% |
| Capex / revenue | 8.5% | 7.0% | 9.3% | 8.1% | 4.1% | 9.4% | 9.9% | 9.4% | 5.6% | 6.5% | 8.8% | 4.3% |
| Operating cash flow / net income | 99.94 | 12.86 | 8.10 | — | — | — | — | — | 6.95 | 8.95 | 6.46 | 10.26 |
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.
CRWD cash generation
In fiscal 2026 (ended January 31, 2026), CrowdStrike generated $1.6 billion of cash from operations (up 16.7%) and spent $302.1 million on capital expenditures, leaving free cash flow of $1.3 billion, 27.2% of revenue. Cash and equivalents rose by $990.0 million over the year.
Related: CRWD income statement, CRWD balance sheet. See the CRWD stock overview for the latest quote and news.
CRWD cash flow FAQ
What is CrowdStrike's free cash flow?
CrowdStrike's free cash flow was $1.3 billion in fiscal 2026: $1.6 billion of operating cash flow minus $302.1 million of capital expenditures It was $1.1 billion a year earlier..
How much cash does CrowdStrike generate from operations?
CrowdStrike generated $1.6 billion of cash from operating activities in fiscal 2026.
How much does CrowdStrike spend on capital expenditures?
CrowdStrike spent $302.1 million on capital expenditures in fiscal 2026, 6.3% of revenue, compared with $313.8 million the year before.