BlackRock ESG Capital Allocation Trust (ECAT) Cash Flow Statement
Where ECAT’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $344.6M +1.8% vs 2024
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- $344.6M 159.4% margin
- Returned to shareholders
- $347.6M 101% of free cash flow
- Change in cash
- −$2.6M cash at year-end $25.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
ECAT operating cash flow, capex and free cash flow
ECAT cash flow trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$2.10B2021 | $344.6M2025 | — | |
| Capital expenditures | $02021 | $02025 | — | |
| Free cash flow | −$2.10B2021 | $344.6M2025 | — | |
| Free cash flow margin | −2,489.5%2021 | 159.4%2025 | +2,648.9 pts | |
| Operating cash flow / net income | −25.002021 | 1.622025 | +26.62 | |
| Dividends paid | $9.3M2021 | $347.6M2025 | +147.0%/yr | |
| Share buybacks (net) | $02021 | $46.0M2024 | — | |
| Capex / revenue | 0.0%2021 | 0.0%2025 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ECAT cash flow by activity
ECAT 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).
ECAT cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Operating activities | |||||
| Net income | $213.4M | $240.6M | $294.9M | −$312.9M | $84.0M |
| Change in working capital | −$2.8M | −$101,225 | $6.1M | −$6.7M | $1.2M |
| Other non-cash items | $134.0M | $97.9M | −$135.5M | $505.4M | −$2.19B |
| Cash from operating activities | $344.6M | $338.4M | $165.6M | $185.9M | −$2.10B |
| Investing activities | |||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 |
| Financing activities | |||||
| Dividends paid | −$347.6M | −$288.4M | −$151.8M | −$125.8M | −$9.3M |
| Share repurchases & issuance (net) | — | −$46.0M | −$9.0M | −$45.6M | $0 |
| Net borrowing (repayment) | $382,375 | — | $0 | −$5,975 | $5,975 |
| Shares issued | $0 | $0 | $0 | $0 | $2.11B |
| Other financing | $0 | −$1 | $0 | $0 | $0 |
| Cash from financing activities | −$347.2M | −$334.4M | −$160.8M | −$171.4M | $2.10B |
| Summary | |||||
| Net change in cash | −$2.6M | $4.0M | $4.8M | $14.5M | $4.8M |
| Cash at end of period | $25.7M | $28.2M | $24.2M | $19.4M | $4.9M |
| Free cash flow | $344.6M | $338.4M | $165.6M | $185.9M | −$2.10B |
| Free cash flow margin | 159.4% | 138.4% | 55.7% | — | −2,489.5% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | — | 0.0% |
| Operating cash flow / net income | 1.62 | 1.41 | 0.56 | — | −25.00 |
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.
ECAT cash generation
In fiscal 2025 (ended December 31, 2025), BlackRock ESG Capital Allocation generated $344.6 million of cash from operations (up 1.8%) and spent $0 on capital expenditures, leaving free cash flow of $344.6 million, 159.4% of revenue. It returned $347.6 million to shareholders through dividends ($347.6 million) and net share buybacks ($0). Cash and equivalents fell by $2.6 million over the year.
Related: ECAT income statement, ECAT balance sheet, ECAT dividend history. See the ECAT stock overview for the latest quote and news.
ECAT cash flow FAQ
What is BlackRock ESG Capital Allocation's free cash flow?
BlackRock ESG Capital Allocation's free cash flow was $344.6 million in fiscal 2025: $344.6 million of operating cash flow minus $0 of capital expenditures It was $338.4 million a year earlier..
How much cash does BlackRock ESG Capital Allocation generate from operations?
BlackRock ESG Capital Allocation generated $344.6 million of cash from operating activities in fiscal 2025, 1.62 times its net income of $213.4 million.
How much does BlackRock ESG Capital Allocation pay in dividends?
BlackRock ESG Capital Allocation paid $347.6 million in dividends in fiscal 2025, 100.9% of free cash flow.