Edison International (EIX) Cash Flow Statement
Where EIX’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $5.80B +15.7% vs 2024
- Capital expenditures
- $6.51B 33.7% of revenue
- Free cash flow
- −$715.0M −3.7% margin
- Returned to shareholders
- $3.07B
- Change in cash
- −$75.0M cash at year-end $158.0M
Cash from operations
$5.80B
Capital expenditures
−$6.51B
Investments (net)
+$121.0M
Acquisitions & other
+$59.0M
Dividends
−$1.38B
Share buybacks (net)
−$1.70B
Net borrowing (repayment)
+$3.77B
Other financing
−$120.0M
Currency & other
−$111.0M
Change in cash
−$75.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
EIX operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
EIX cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $3.26B2016 | $5.80B2025 | +6.6%/yr | |
| Capital expenditures | $3.73B2016 | $6.51B2025 | +6.4%/yr | |
| Free cash flow | −$478.0M2016 | −$715.0M2025 | — | |
| Free cash flow margin | −4.0%2016 | −3.7%2025 | +0.3 pts | |
| Operating cash flow / net income | 2.512016 | 1.232025 | −1.27 | |
| Stock-based compensation | $34.0M2016 | $46.0M2023 | +4.4%/yr | |
| Dividends paid | $626.0M2016 | $1.38B2025 | +9.2%/yr | |
| Share buybacks (net) | $125.0M2016 | $1.70B2025 | +33.6%/yr | |
| Capex / revenue | 31.5%2016 | 33.7%2025 | +2.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EIX cash flow by activity
OperatingInvestingFinancingChange in cash
EIX 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).
EIX cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $4.70B | $1.37B | $1.28B | $824.0M | $925.0M | $871.0M | $1.41B | −$457.0M | $565.0M | $1.30B |
| Depreciation & amortization | $3.24B | $2.94B | $2.72B | $2.63B | $2.29B | $2.03B | $1.80B | $1.94B | $2.12B | $2.10B |
| Stock-based compensation | — | — | $46.0M | $42.0M | $71.0M | −$116.0M | $184.0M | $21.0M | $23.0M | $34.0M |
| Change in working capital | −$3.37B | $749.0M | −$674.0M | −$52.0M | −$3.50B | −$1.05B | −$932.0M | $2.21B | −$172.0M | −$3.0M |
| Other non-cash items | $1.23B | −$45.0M | $24.0M | −$231.0M | $227.0M | −$470.0M | −$2.77B | −$541.0M | $1.07B | −$172.0M |
| Cash from operating activities | $5.80B | $5.01B | $3.40B | $3.22B | $11.0M | $1.26B | −$307.0M | $3.18B | $3.60B | $3.26B |
| Investing activities | ||||||||||
| Capital expenditures | −$6.51B | −$5.71B | −$5.45B | −$5.78B | −$5.50B | −$5.48B | −$4.88B | −$4.51B | −$3.84B | −$3.73B |
| Investments (net) | $121.0M | −$5.54B | −$5.36B | −$5.57B | $256.0M | $197.0M | $106.0M | $187.0M | $197.0M | $179.0M |
| Acquisitions & other investing | $59.0M | $5.71B | $5.58B | $5.78B | $98.0M | $316.0M | $93.0M | $83.0M | $61.0M | $139.0M |
| Cash from investing activities | −$6.33B | −$5.54B | −$5.23B | −$5.57B | −$5.15B | −$4.97B | −$4.68B | −$4.24B | −$3.59B | −$3.42B |
| Financing activities | ||||||||||
| Dividends paid | −$1.38B | −$1.29B | −$1.22B | −$1.15B | −$1.02B | −$928.0M | −$810.0M | −$788.0M | −$707.0M | −$626.0M |
| Share repurchases & issuance (net) | −$1.70B | −$856.0M | −$289.0M | $13.0M | $10.04B | −$308.0M | $3.52B | $26.0M | −$475.0M | −$125.0M |
| Net borrowing (repayment) | $3.77B | $2.46B | $2.39B | $4.03B | $4.52B | $4.15B | $3.44B | $972.0M | $2.03B | $788.0M |
| Shares issued | $0 | $345.0M | $19.0M | $13.0M | $2.01B | $912.0M | $2.39B | $0 | $0 | $0 |
| Other financing | −$120.0M | $9.0M | $543.0M | −$22.0M | −$10.10B | −$95.0M | −$3.64B | −$128.0M | $157.0M | $58.0M |
| Cash from financing activities | $571.0M | $674.0M | $1.45B | $2.88B | $5.45B | $3.73B | $4.90B | $82.0M | $1.01B | $95.0M |
| Summary | ||||||||||
| Net change in cash | −$75.0M | −$147.0M | −$537.0M | $523.0M | $305.0M | $19.0M | −$82.0M | −$980.0M | $1.04B | −$65.0M |
| Cash at end of period | $158.0M | $233.0M | $380.0M | $917.0M | $394.0M | $89.0M | $70.0M | $152.0M | $1.13B | $96.0M |
| Free cash flow | −$715.0M | −$693.0M | −$2.05B | −$2.56B | −$5.49B | −$4.22B | −$5.18B | −$1.33B | −$247.0M | −$478.0M |
| Free cash flow margin | −3.7% | −3.9% | −12.5% | −14.9% | −36.9% | −31.1% | −42.0% | −10.5% | −2.0% | −4.0% |
| Capex / revenue | 33.7% | 32.4% | 33.3% | 33.6% | 36.9% | 40.4% | 39.5% | 35.6% | 31.2% | 31.5% |
| Operating cash flow / net income | 1.23 | 3.66 | 2.65 | 3.90 | 0.01 | 1.45 | −0.22 | — | 6.37 | 2.51 |
| 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 | $561.0M | $570.0M | $1.92B | $889.0M | $398.0M | $1.49B | $362.0M | $538.0M | $460.0M | $11.0M | $386.0M | $212.0M |
| Depreciation & amortization | $834.0M | $834.0M | $807.0M | $862.0M | $826.0M | $742.0M | $756.0M | $710.0M | $726.0M | $707.0M | $687.0M | $663.0M |
| Stock-based compensation | — | — | — | — | — | — | — | — | — | — | $46.0M | — |
| Change in working capital | −$290.0M | −$131.0M | −$1.71B | $66.0M | −$303.0M | −$1.42B | $75.0M | $1.22B | −$964.0M | $416.0M | −$166.0M | $988.0M |
| Other non-cash items | $165.0M | $154.0M | $547.0M | $305.0M | −$39.0M | $414.0M | −$23.0M | $2.0M | $107.0M | −$91.0M | −$98.0M | −$29.0M |
| Cash from operating activities | $1.27B | $1.43B | $1.57B | $2.12B | $882.0M | $1.22B | $1.17B | $2.47B | $329.0M | $1.04B | $855.0M | $1.83B |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.85B | −$1.54B | −$1.89B | −$1.50B | −$1.71B | −$1.41B | −$1.50B | −$1.51B | −$1.42B | −$1.28B | −$1.46B | −$1.28B |
| Investments (net) | −$16.0M | −$2.0M | $17.0M | −$1.49B | −$1.63B | −$1.37B | −$1.44B | −$1.43B | −$1.39B | −$1.28B | −$1.34B | −$1.24B |
| Acquisitions & other investing | $55.0M | −$47.0M | $32.0M | $1.50B | $1.71B | $1.41B | $1.50B | $1.51B | $1.42B | $1.28B | $1.46B | −$1.37B |
| Cash from investing activities | −$1.81B | −$1.59B | −$1.84B | −$1.49B | −$1.63B | −$1.37B | −$1.44B | −$1.43B | −$1.39B | −$1.28B | −$1.34B | −$3.89B |
| Financing activities | ||||||||||||
| Dividends paid | −$299.0M | −$351.0M | −$336.0M | −$361.0M | −$318.0M | −$363.0M | −$302.0M | −$344.0M | −$301.0M | −$339.0M | −$282.0M | −$331.0M |
| Share repurchases & issuance (net) | −$4.0M | −$26.0M | −$1.66B | −$3.0M | −$29.0M | −$29.0M | −$478.0M | $378.0M | −$359.0M | −$19.0M | −$289.0M | $597.0M |
| Net borrowing (repayment) | $850.0M | $1.16B | $2.11B | −$130.0M | −$32.0M | $1.81B | $1.14B | −$890.0M | — | — | — | −$13.0M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12.0M | $345.0M | $12.0M | $546.0M | $3.0M |
| Other financing | −$57.0M | −$569.0M | −$21.0M | −$19.0M | −$4.0M | −$47.0M | −$53.0M | −$357.0M | $892.0M | $1.33B | $592.0M | −$595.0M |
| Cash from financing activities | $490.0M | $212.0M | $93.0M | −$513.0M | −$383.0M | $1.37B | $310.0M | −$1.20B | $577.0M | $988.0M | $567.0M | −$339.0M |
| Summary | ||||||||||||
| Net change in cash | −$47.0M | $51.0M | −$298.0M | $286.0M | −$1.21B | $1.15B | −$34.0M | −$237.0M | −$555.0M | $679.0M | −$69.0M | $251.0M |
| Cash at end of period | $724.0M | $771.0M | $158.0M | $456.0M | $170.0M | $1.38B | $233.0M | $267.0M | $504.0M | $1.06B | $380.0M | $449.0M |
| Free cash flow | −$576.0M | −$112.0M | −$319.0M | $618.0M | −$830.0M | −$184.0M | −$326.0M | $961.0M | −$1.09B | −$236.0M | −$602.0M | $554.0M |
| Free cash flow margin | −13.2% | −2.7% | −6.1% | 10.7% | −18.3% | −4.8% | −8.2% | 18.5% | −25.2% | −5.8% | −16.2% | 11.8% |
| Capex / revenue | 42.4% | 37.5% | 36.3% | 26.2% | 37.7% | 36.9% | 37.6% | 29.1% | 32.8% | 31.4% | 39.3% | 27.2% |
| Operating cash flow / net income | 2.26 | 2.50 | 0.82 | 2.39 | 2.22 | 0.82 | 3.23 | 4.59 | 0.72 | 94.82 | 2.22 | 8.65 |
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.
EIX cash generation
In fiscal 2025 (ended December 31, 2025), Edison International generated $5.8 billion of cash from operations (up 15.7%) and spent $6.5 billion on capital expenditures, leaving free cash flow of -$715.0 million, −3.7% of revenue. It returned $3.1 billion to shareholders through dividends ($1.4 billion) and net share buybacks ($1.7 billion). Cash and equivalents fell by $75.0 million over the year.
Related: EIX income statement, EIX balance sheet, EIX dividend history. See the EIX stock overview for the latest quote and news.
EIX cash flow FAQ
What is Edison International's free cash flow?
Edison International's free cash flow was -$715.0 million in fiscal 2025: $5.8 billion of operating cash flow minus $6.5 billion of capital expenditures It was -$693.0 million a year earlier..
How much cash does Edison International generate from operations?
Edison International generated $5.8 billion of cash from operating activities in fiscal 2025, 1.23 times its net income of $4.7 billion.
How much does Edison International spend on capital expenditures?
Edison International spent $6.5 billion on capital expenditures in fiscal 2025, 33.7% of revenue, compared with $5.7 billion the year before.
How much stock does Edison International buy back?
Edison International spent $1.7 billion on net share repurchases in fiscal 2025.
How much does Edison International pay in dividends?
Edison International paid $1.4 billion in dividends in fiscal 2025.
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