Enservco Corporation (ENSV) Cash Flow Statement
Where ENSV’s cash came from and went, 2023
December 31, 2023 · U.S. dollars- Cash from operations
- −$2.1M
- Capital expenditures
- $268,000 1.2% of revenue
- Free cash flow
- −$2.4M −11.0% margin
- Returned to shareholders
- —
- Change in cash
- $166,000 cash at year-end $201,000
Cash from operations
−$2.1M
Capital expenditures
−$268,000
Investments (net)
+$830,000
Acquisitions & other
+$1.2M
Net borrowing (repayment)
−$876,000
Shares issued
+$3.0M
Other financing
−$1.5M
Change in cash
$166,000
Drawn to scale: where the cash came from and how it was used. Hover for values.
ENSV operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ENSV cash flow trends, 2014–2023
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $6.2M2014 | −$2.1M2023 | — | |
| Capital expenditures | $24.0M2014 | $268,0002023 | −39.3%/yr | |
| Free cash flow | −$17.7M2014 | −$2.4M2023 | — | |
| Free cash flow margin | −31.3%2014 | −11.0%2023 | +20.4 pts | |
| Stock-based compensation | $562,9032014 | $459,0002023 | −2.2%/yr | |
| Dividends paid | $02014 | $02023 | — | |
| Share buybacks (net) | $02014 | $02020 | — | |
| Capex / revenue | 42.4%2014 | 1.2%2023 | −41.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ENSV cash flow by activity
OperatingInvestingFinancingChange in cash
ENSV 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).
ENSV cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$8.5M | −$5.6M | −$8.1M | −$2.4M | −$5.3M | −$5.0M | −$6.9M | −$8.6M | −$1.3M | $4.0M |
| Depreciation & amortization | $3.7M | $4.3M | $5.2M | $5.3M | $5.7M | $4.9M | $5.8M | $6.9M | $5.8M | $3.4M |
| Stock-based compensation | $459,000 | $871,000 | $441,000 | $392,000 | $275,000 | $393,000 | $704,000 | $661,924 | $617,530 | $562,903 |
| Change in working capital | $1.2M | $1.8M | −$1.3M | $2.7M | $5.1M | $72,000 | −$5.0M | $2.9M | $7.2M | −$4.7M |
| Other non-cash items | $1.0M | −$3.7M | −$1.1M | −$10.4M | −$1.3M | $1.0M | $1.4M | −$3.9M | −$161,205 | $3.0M |
| Cash from operating activities | −$2.1M | −$2.2M | −$4.8M | −$4.4M | $4.5M | $1.3M | −$4.0M | −$2.0M | $12.1M | $6.2M |
| Investing activities | ||||||||||
| Capital expenditures | −$268,000 | −$220,000 | −$593,000 | −$361,000 | −$1.2M | −$1.8M | −$1.8M | −$5.2M | −$4.5M | −$24.0M |
| Investments (net) | $830,000 | $343,000 | −$200,000 | $1.0M | −$458,000 | −$7.3M | −$1.3M | −$4.7M | — | — |
| Acquisitions & other investing | $1.2M | $220,000 | $593,000 | $361,000 | $1.2M | $1.8M | $1.8M | $5.2M | $27,169 | $370,000 |
| Cash from investing activities | $1.8M | $343,000 | −$200,000 | $1.0M | −$458,000 | −$7.3M | −$1.3M | −$4.7M | −$4.5M | −$23.6M |
| Financing activities | ||||||||||
| Dividends paid | $0 | $0 | $0 | $0 | — | — | $0 | $0 | $0 | $0 |
| Share repurchases & issuance (net) | — | — | — | $3.3M | — | — | $0 | $4.4M | $275,385 | $393,285 |
| Net borrowing (repayment) | −$876,000 | $2.6M | −$4.4M | $919,000 | −$3.3M | $5.8M | $5.1M | $2.1M | −$8.3M | $15.8M |
| Shares issued | $3.0M | $3.0M | $9.7M | $3.6M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.5M | −$3.8M | −$1.6M | −$3.6M | −$349,000 | −$31,000 | $0 | $0 | $203,231 | $238,337 |
| Cash from financing activities | $551,000 | $1.8M | $3.7M | $4.2M | −$3.6M | $5.8M | $5.1M | $6.6M | −$7.8M | $16.4M |
| Summary | ||||||||||
| Net change in cash | $166,000 | −$114,000 | −$1.3M | $804,000 | $406,000 | −$134,000 | −$230,000 | −$183,973 | −$149,321 | −$914,132 |
| Cash at end of period | $201,000 | $35,000 | $149,000 | $1.5M | $663,000 | $257,000 | $391,000 | $620,764 | $804,737 | $954,058 |
| Free cash flow | −$2.4M | −$2.5M | −$5.4M | −$4.8M | $3.3M | −$445,000 | −$5.8M | −$7.2M | $7.6M | −$17.7M |
| Free cash flow margin | −11.0% | −11.4% | −35.0% | −30.6% | 7.6% | −0.9% | −14.1% | −29.1% | 19.6% | −31.3% |
| Capex / revenue | 1.2% | 1.0% | 3.9% | 2.3% | 2.8% | 3.8% | 4.3% | 21.0% | 11.7% | 42.4% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | — | 1.55 |
| Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$2.2M | −$2.3M | $740,000 | −$1.9M | −$3.0M | −$2.6M | −$1.0M | −$1.7M | −$3.1M | −$4.1M | $3.1M | −$3.5M |
| Depreciation & amortization | $441,000 | $406,000 | $899,000 | $979,000 | $905,000 | $945,000 | $971,000 | $1.0M | $1.1M | $1.2M | $1.1M | $1.2M |
| Stock-based compensation | $37,000 | $47,000 | $76,000 | $126,000 | $71,000 | $66,000 | $196,000 | $156,000 | $159,000 | $60,000 | $81,000 | $60,000 |
| Change in working capital | −$2.2M | $3.0M | −$859,000 | −$1.9M | $1.4M | $2.4M | −$695,000 | −$1.9M | $575,000 | $1.1M | $244,000 | $1.1M |
| Other non-cash items | $3.2M | $960,000 | $203,000 | $724,000 | $188,000 | $45,000 | $53,000 | $2,000 | $164,000 | $795,000 | −$4.1M | $187,000 |
| Cash from operating activities | −$713,000 | $2.1M | $1.1M | −$2.0M | −$486,000 | $865,000 | −$479,000 | −$2.4M | −$1.1M | −$891,000 | $497,000 | −$891,000 |
| Investing activities | ||||||||||||
| Capital expenditures | −$108,000 | −$40,000 | −$144,000 | −$153,000 | −$31,000 | −$35,000 | −$49,000 | −$90,000 | −$62,000 | −$245,000 | −$68,000 | −$245,000 |
| Investments (net) | — | $2,000 | −$125,000 | $1.1M | $443,000 | $200,000 | −$15,000 | $202,000 | −$62,000 | $271,000 | −$68,000 | $83,000 |
| Acquisitions & other investing | $663,000 | $40,000 | $144,000 | $153,000 | $31,000 | $35,000 | $49,000 | $90,000 | $62,000 | $57,000 | $68,000 | $245,000 |
| Cash from investing activities | $555,000 | $2,000 | −$125,000 | $1.1M | $443,000 | $200,000 | −$15,000 | $202,000 | −$62,000 | $83,000 | −$68,000 | $83,000 |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net borrowing (repayment) | — | −$1.9M | −$405,000 | — | — | — | — | — | $1.1M | −$1.7M | $588,000 | −$531,000 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $3.0M | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$2,000 | −$385,000 | −$256,000 | $814,000 | −$88,000 | −$2.4M | −$722,000 | $2.0M | $0 | $999,000 | −$176,000 | −$185,000 |
| Cash from financing activities | −$2,000 | −$2.3M | −$661,000 | $814,000 | −$88,000 | −$2.4M | $2.2M | $2.0M | $1.1M | −$716,000 | $412,000 | −$716,000 |
| Summary | ||||||||||||
| Net change in cash | −$160,000 | −$142,000 | $273,000 | −$99,000 | −$131,000 | −$1.3M | $1.7M | −$176,000 | −$97,000 | −$1.5M | $841,000 | −$1.5M |
| Cash at end of period | $172,000 | $332,000 | $474,000 | $201,000 | $300,000 | $431,000 | $1.8M | $35,000 | $211,000 | $149,000 | $1.7M | $1.7M |
| Free cash flow | −$5.3M | $2.1M | $915,000 | −$2.2M | −$517,000 | $830,000 | −$528,000 | −$2.4M | −$1.2M | −$1.1M | $429,000 | −$1.1M |
| Free cash flow margin | −132.8% | 55.4% | 9.3% | −34.0% | −17.6% | 22.3% | −5.9% | −36.9% | −37.7% | −27.8% | 5.0% | −27.8% |
| Capex / revenue | 2.7% | 1.1% | 1.5% | 2.4% | 1.1% | 0.9% | 0.5% | 1.4% | 2.0% | 6.0% | 0.8% | 6.0% |
| Operating cash flow / net income | — | — | 1.43 | — | — | — | — | — | — | — | 0.16 | — |
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.
ENSV cash generation
In fiscal 2023 (ended December 31, 2023), Enservco generated -$2.1 million of cash from operations and spent $0.3 million on capital expenditures, leaving free cash flow of -$2.4 million, −11.0% of revenue. Cash and equivalents rose by $0.2 million over the year.
Related: ENSV income statement, ENSV balance sheet. See the ENSV stock overview for the latest quote and news.
ENSV cash flow FAQ
What is Enservco's free cash flow?
Enservco's free cash flow was -$2.4 million in fiscal 2023: -$2.1 million of operating cash flow minus $0.3 million of capital expenditures It was -$2.5 million a year earlier..
How much cash does Enservco generate from operations?
Enservco generated -$2.1 million of cash from operating activities in fiscal 2023.
How much does Enservco spend on capital expenditures?
Enservco spent $0.3 million on capital expenditures in fiscal 2023, 1.2% of revenue, compared with $0.2 million the year before.