Faraday Future Intelligent Electric Inc. (FFAI) Cash Flow Statement
Where FFAI’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$107.6M
- Capital expenditures
- $7.9M 1,473.9% of revenue
- Free cash flow
- −$115.5M −21,544.0% margin
- Returned to shareholders
- —
- Change in cash
- $27.8M cash at year-end $35.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
FFAI operating cash flow, capex and free cash flow
FFAI cash flow trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$189.8M2019 | −$107.6M2025 | — | |
| Capital expenditures | $2.3M2019 | $7.9M2025 | +23.2%/yr | |
| Free cash flow | −$192.1M2019 | −$115.5M2025 | — | |
| Free cash flow margin | −39,449.9%2023 | −21,544.0%2025 | +17,905.8 pts | |
| Stock-based compensation | $4.6M2019 | $3.1M2025 | −6.1%/yr | |
| Share buybacks (net) | $02021 | $767,0002023 | — | |
| Capex / revenue | 3,968.0%2023 | 1,473.9%2025 | −2,494.1 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FFAI cash flow by activity
FFAI 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).
FFAI cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | −$397.1M | −$355.8M | −$431.7M | −$552.1M | −$516.5M | −$147.1M | −$143.2M |
| Depreciation & amortization | $67.8M | $74.0M | $45.5M | $5.5M | $8.2M | $3.5M | $5.2M |
| Stock-based compensation | $3.1M | $8.4M | $9.2M | $17.7M | $30.0M | $9.5M | $4.6M |
| Change in working capital | −$14.7M | $20.5M | −$49.1M | $32.5M | −$73.9M | $19.6M | −$134.7M |
| Other non-cash items | $233.2M | $182.8M | $148.1M | $113.3M | $212.5M | $73.3M | $78.3M |
| Cash from operating activities | −$107.6M | −$70.2M | −$278.2M | −$383.1M | −$339.8M | −$41.2M | −$189.8M |
| Investing activities | |||||||
| Capital expenditures | −$7.9M | −$7.6M | −$31.1M | −$123.2M | −$95.7M | −$607,000 | −$2.3M |
| Investments (net) | −$14.4M | −$7.4M | −$31.1M | −$123.2M | −$95.7M | $3.0M | — |
| Acquisitions & other investing | −$1.2M | $7.6M | $31.1M | — | $95.7M | $607,000 | $29.2M |
| Cash from investing activities | −$23.5M | −$7.4M | −$31.1M | — | −$95.7M | $3.0M | $26.9M |
| Financing activities | |||||||
| Share repurchases & issuance (net) | — | — | −$767,000 | −$767,000 | $0 | — | — |
| Net borrowing (repayment) | $147.5M | $70.8M | $230.4M | −$15.9M | $82.6M | — | — |
| Shares issued | $9.9M | $0 | $34.5M | $0 | $991.0M | $0 | $0 |
| Other financing | $4.0M | $10.0M | $27.3M | $9.9M | −$107.0M | $36.8M | $162.6M |
| Cash from financing activities | $161.4M | $80.7M | $291.4M | −$6.7M | $966.6M | $36.8M | $162.6M |
| Summary | |||||||
| Net change in cash | $27.8M | $3.1M | −$14.5M | −$512.0M | $528.6M | $1.8M | −$4.2M |
| Cash at end of period | $35.0M | $7.2M | $4.0M | $18.5M | $530.5M | $1.8M | $3.4M |
| Free cash flow | −$115.5M | −$77.8M | −$309.3M | −$506.3M | −$435.4M | −$41.8M | −$192.1M |
| Free cash flow margin | −21,544.0% | −14,427.8% | −39,449.9% | — | — | — | — |
| Capex / revenue | 1,473.9% | 1,406.3% | 3,968.0% | — | — | — | — |
| 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 | −$39.0M | −$38.9M | −$39.9M | −$222.2M | −$124.7M | −$10.3M | −$121.3M | −$77.7M | −$108.7M | −$83.8M | −$83.8M | −$78.0M |
| Depreciation & amortization | $8.0M | $9.1M | $9.1M | $20.1M | $20.5M | $18.1M | $18.6M | $18.0M | $18.9M | $17.8M | $17.8M | $14.3M |
| Stock-based compensation | $502,000 | −$802,000 | $658,000 | $1.3M | $897,000 | $301,000 | $6.1M | $1.6M | $116,000 | $261,000 | $261,000 | −$366,000 |
| Change in working capital | −$2.9M | −$7.6M | −$19.2M | $176,000 | −$802,000 | $5.1M | −$4.4M | −$3.8M | $9.4M | $15.6M | $15.6M | −$25.3M |
| Other non-cash items | $8.3M | $6.7M | $21.0M | $165.0M | $80.7M | −$33.5M | $82.6M | $39.2M | $65.9M | $12.3M | $12.3M | $9.7M |
| Cash from operating activities | −$25.1M | −$31.5M | −$28.4M | −$35.6M | −$23.3M | −$20.3M | −$18.4M | −$22.7M | −$14.4M | −$37.8M | −$37.8M | −$79.7M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.4M | −$221,000 | −$1.1M | −$1.5M | −$3.4M | −$1.6M | −$6.9M | −$301,000 | −$259,000 | −$20.3M | −$20.3M | −$15.0M |
| Investments (net) | −$1.7M | $1.8M | — | $5.3M | −$3.4M | −$1.6M | −$6.8M | −$301,000 | −$259,000 | −$12,000 | −$20.3M | $15.0M |
| Acquisitions & other investing | $2.0M | −$274,000 | −$22.6M | $1.5M | $3.4M | $1.6M | $6.9M | $301,000 | $259,000 | $12,000 | — | $15.0M |
| Cash from investing activities | −$1.1M | $1.3M | −$23.7M | $5.3M | −$3.4M | −$1.6M | −$6.8M | −$301,000 | −$259,000 | −$20.3M | — | $15.0M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | — | $0 | — |
| Net borrowing (repayment) | $71.2M | $8.3M | $15.4M | $75.5M | $33.0M | $23.6M | $13.8M | $30.1M | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $26.0M | $0 |
| Other financing | −$2.7M | −$487,000 | $10.2M | $5.2M | −$2.6M | $1.0M | $11.3M | −$1.1M | $14.7M | $53.9M | $27.9M | $55.7M |
| Cash from financing activities | $68.5M | $7.8M | $25.6M | $80.7M | $30.5M | $24.6M | $25.0M | $29.0M | $14.7M | $53.9M | $53.9M | $55.7M |
| Summary | ||||||||||||
| Net change in cash | $41.6M | −$22.7M | −$28.0M | $49.7M | $3.8M | $2.3M | −$175,000 | $6.0M | $72,000 | −$4.5M | −$4.5M | −$10.8M |
| Cash at end of period | $53.9M | $12.3M | $35.0M | $62.9M | $13.3M | $9.5M | $7.2M | $7.3M | $1.4M | $4.0M | $4.0M | $8.6M |
| Free cash flow | −$26.5M | −$31.7M | −$29.5M | −$37.1M | −$26.8M | −$21.9M | −$25.3M | −$23.0M | −$14.6M | −$58.1M | −$58.1M | −$64.7M |
| Free cash flow margin | −3,170.0% | −6,190.0% | −22,886.8% | −100,218.9% | −49,540.7% | −6,918.7% | −10,770.6% | −255,622.2% | −4,993.5% | −24,923.2% | −24,923.2% | −11,734.3% |
| Capex / revenue | 173.0% | 43.2% | 867.4% | 4,102.7% | 6,368.5% | 496.2% | 2,945.1% | 3,344.4% | 88.4% | 8,696.6% | 8,696.6% | 2,723.4% |
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.
FFAI cash generation
In fiscal 2025 (ended December 31, 2025), Faraday Future Intelligent Electric generated -$107.6 million of cash from operations and spent $7.9 million on capital expenditures, leaving free cash flow of -$115.5 million, −21,544.0% of revenue. Cash and equivalents rose by $27.8 million over the year.
Related: FFAI income statement, FFAI balance sheet. See the FFAI stock overview for the latest quote and news.
FFAI cash flow FAQ
What is Faraday Future Intelligent Electric's free cash flow?
Faraday Future Intelligent Electric's free cash flow was -$115.5 million in fiscal 2025: -$107.6 million of operating cash flow minus $7.9 million of capital expenditures It was -$77.8 million a year earlier..
How much cash does Faraday Future Intelligent Electric generate from operations?
Faraday Future Intelligent Electric generated -$107.6 million of cash from operating activities in fiscal 2025.
How much does Faraday Future Intelligent Electric spend on capital expenditures?
Faraday Future Intelligent Electric spent $7.9 million on capital expenditures in fiscal 2025, 1,473.9% of revenue, compared with $7.6 million the year before.