Ellsworth Growth and Income Fund Ltd. (ECF) Cash Flow Statement
Where ECF’s cash came from and went, FY2021
September 30, 2021 · U.S. dollars- Cash from operations
- $38.4M +9.5% vs FY2020
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- $38.4M 98.7% margin
- Returned to shareholders
- $19.3M 50% of free cash flow
- Change in cash
- $63,770 cash at year-end $64,984
Drawn to scale: where the cash came from and how it was used. Hover for values.
ECF operating cash flow, capex and free cash flow
ECF cash flow trends, FY2015–FY2021
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$2.4MFY2015 | $38.4MFY2021 | — | |
| Capital expenditures | $0FY2015 | $0FY2021 | — | |
| Free cash flow | −$2.4MFY2015 | $38.4MFY2021 | — | |
| Free cash flow margin | 96.7%FY2016 | 98.7%FY2021 | +2.0 pts | |
| Operating cash flow / net income | 1.00FY2016 | 1.00FY2021 | 0.00 | |
| Dividends paid | $8.8MFY2015 | $19.3MFY2021 | +13.9%/yr | |
| Share buybacks (net) | $3.1MFY2015 | $0FY2021 | −100.0% | |
| Capex / revenue | 0.0%FY2016 | 0.0%FY2021 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ECF cash flow by activity
ECF 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).
ECF cash flow statement
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | $38.4M | $35.0M | $12.7M | $19.4M | $14.3M | $12.4M | −$2.4M |
| Change in working capital | — | — | −$2.2M | −$133,740 | $4.0M | $551,960 | $254,790 |
| Other non-cash items | −$4 | $4 | $2.2M | $133,736 | −$4.0M | −$551,959 | −$254,793 |
| Cash from operating activities | $38.4M | $35.0M | $12.7M | $19.4M | $14.2M | $12.4M | −$2.4M |
| Investing activities | |||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing activities | |||||||
| Dividends paid | −$19.3M | −$12.2M | −$7.9M | −$7.8M | −$5.7M | −$10.3M | −$8.8M |
| Share repurchases & issuance (net) | $4.0M | $2.1M | $745,970 | $604,490 | −$358,860 | $814,490 | −$3.1M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | −$10 | $0 | −$39,620 | −$1.1M | $0 | $0 |
| Cash from financing activities | −$15.2M | −$10.1M | −$7.2M | −$7.2M | −$7.1M | −$9.5M | −$11.9M |
| Summary | |||||||
| Net change in cash | $63,770 | $24.9M | $5.5M | $12.2M | $7.1M | $3.0M | −$14.3M |
| Cash at end of period | $64,984 | $1,214 | $5.5M | $12.5M | $14.9M | $3.8M | −$14.3M |
| Free cash flow | $38.4M | $35.0M | $12.7M | $19.4M | $14.2M | $12.4M | −$2.4M |
| Free cash flow margin | 98.7% | 98.2% | 96.2% | 97.8% | 96.8% | 96.7% | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Operating cash flow / net income | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | — |
| Mar '22 | Sep '21 | Mar '21 | Sep '20 | |
|---|---|---|---|---|
| Operating activities | ||||
| Net income | −$25.4M | $19.2M | $19.2M | $40.9M |
| Change in working capital | — | — | — | −$3.1M |
| Other non-cash items | $9.6M | $19.2M | $10.2M | −$26.1M |
| Cash from operating activities | −$15.8M | $38.4M | $29.4M | $11.7M |
| Investing activities | ||||
| Capital expenditures | $0 | $0 | $0 | $0 |
| Financing activities | ||||
| Dividends paid | −$17.6M | −$19.3M | −$15.0M | −$12.2M |
| Share repurchases & issuance (net) | $5.2M | $4.0M | $4.0M | $2.1M |
| Shares issued | $0 | $0 | $0 | $0 |
| Other financing | −$166,280 | $0 | −$10 | −$10 |
| Cash from financing activities | −$12.6M | −$15.2M | −$10.9M | −$10.1M |
| Summary | ||||
| Net change in cash | −$28.4M | $63,770 | $63,770 | $17.6M |
| Cash at end of period | $64,984 | $64,984 | $64,984 | $1,214 |
| Free cash flow | −$15.8M | $38.4M | $29.4M | $11.7M |
| Free cash flow margin | −157.8% | — | — | — |
| Capex / revenue | 0.0% | — | — | — |
| Operating cash flow / net income | — | 2.00 | 1.53 | 0.29 |
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.
ECF cash generation
In fiscal 2021 (ended September 30, 2021), Ellsworth Growth and Income Fund generated $38.4 million of cash from operations (up 9.5%) and spent $0 on capital expenditures, leaving free cash flow of $38.4 million, 98.7% of revenue. It returned $19.3 million to shareholders through dividends ($19.3 million) and net share buybacks ($0). Cash and equivalents rose by $0.1 million over the year.
Related: ECF income statement, ECF balance sheet, ECF dividend history. See the ECF stock overview for the latest quote and news.
ECF cash flow FAQ
What is Ellsworth Growth and Income Fund's free cash flow?
Ellsworth Growth and Income Fund's free cash flow was $38.4 million in fiscal 2021: $38.4 million of operating cash flow minus $0 of capital expenditures It was $35.0 million a year earlier..
How much cash does Ellsworth Growth and Income Fund generate from operations?
Ellsworth Growth and Income Fund generated $38.4 million of cash from operating activities in fiscal 2021, 1.00 times its net income of $38.4 million.
How much does Ellsworth Growth and Income Fund pay in dividends?
Ellsworth Growth and Income Fund paid $19.3 million in dividends in fiscal 2021, 50.2% of free cash flow.