The Gorman-Rupp Company (GRC) Cash Flow Statement
Where GRC’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $106.2M +52.1% vs 2024
- Capital expenditures
- $17.4M 2.5% of revenue
- Free cash flow
- $88.9M 13.0% margin
- Returned to shareholders
- $20.7M 23% of free cash flow
- Change in cash
- $10.9M cash at year-end $35.1M
Drawn to scale: where the cash came from and how it was used. Hover for values.
GRC operating cash flow, capex and free cash flow
GRC cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $53.4M2016 | $106.2M2025 | +7.9%/yr | |
| Capital expenditures | $6.9M2016 | $17.4M2025 | +10.8%/yr | |
| Free cash flow | $46.6M2016 | $88.9M2025 | +7.4%/yr | |
| Free cash flow margin | 12.2%2016 | 13.0%2025 | +0.8 pts | |
| Operating cash flow / net income | 2.152016 | 2.002025 | −0.14 | |
| Stock-based compensation | $252,0002016 | $3.6M2025 | +34.3%/yr | |
| Dividends paid | $11.2M2016 | $19.6M2025 | +6.4%/yr | |
| Share buybacks (net) | $02016 | $1.2M2025 | — | |
| Capex / revenue | 1.8%2016 | 2.5%2025 | +0.7 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GRC cash flow by activity
GRC 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).
GRC cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $53.0M | $40.1M | $35.0M | $11.2M | $29.9M | $25.2M | $35.8M | $40.0M | $26.6M | $24.9M |
| Depreciation & amortization | $27.7M | $27.9M | $28.5M | $21.2M | $11.9M | $12.7M | $13.7M | $14.5M | $15.1M | $15.5M |
| Stock-based compensation | $3.6M | $4.0M | $3.3M | $3.0M | $2.4M | $42,000 | $1.0M | $1.7M | $743,000 | $252,000 |
| Change in working capital | $6.5M | −$9.1M | $19.3M | −$47.9M | −$1.7M | $7.2M | $10.0M | −$16.1M | −$822,000 | $20.9M |
| Other non-cash items | $15.5M | $6.9M | $12.2M | $26.3M | $2.9M | $6.0M | $1.6M | $1.2M | $1.7M | −$8.1M |
| Cash from operating activities | $106.2M | $69.8M | $98.2M | $13.7M | $45.4M | $51.2M | $62.2M | $41.2M | $43.3M | $53.4M |
| Investing activities | ||||||||||
| Capital expenditures | −$17.4M | −$14.3M | −$20.8M | −$18.0M | −$9.8M | −$8.0M | −$10.9M | −$10.9M | −$7.8M | −$6.9M |
| Investments (net) | — | −$11.9M | −$24.7M | −$545.7M | −$4,000 | −$4,000 | −$4,000 | $3.0M | −$3.0M | −$8.5M |
| Acquisitions & other investing | $2.0M | $14.3M | $25.4M | $18.0M | $586,000 | $299,000 | $69,000 | $512,000 | $320,000 | $6.9M |
| Cash from investing activities | −$15.3M | −$11.9M | −$20.2M | −$545.7M | −$9.2M | −$7.7M | −$10.8M | −$7.5M | −$10.4M | −$8.5M |
| Financing activities | ||||||||||
| Dividends paid | −$19.6M | −$19.0M | −$18.4M | −$17.9M | −$16.6M | −$15.4M | −$14.4M | −$65.6M | −$12.3M | −$11.2M |
| Share repurchases & issuance (net) | −$1.2M | −$267,000 | −$1.0M | −$918,000 | −$1.2M | −$361,000 | −$2.6M | — | $0 | $0 |
| Net borrowing (repayment) | −$60.0M | −$43.0M | −$34.5M | $433.0M | $448.2M | $448.2M | $448.2M | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$118,000 | −$861,000 | −$551,000 | −$130,000 | −$449.0M | −$448.6M | −$448.6M | $0 | $0 | $0 |
| Cash from financing activities | −$80.9M | −$63.1M | −$54.5M | $414.1M | −$18.6M | −$16.1M | −$17.4M | −$65.6M | −$12.3M | −$11.2M |
| Summary | ||||||||||
| Net change in cash | $10.9M | −$6.3M | $23.7M | −$118.4M | $17.0M | $27.6M | $34.1M | −$33.2M | $22.1M | $33.9M |
| Cash at end of period | $35.1M | $24.2M | $30.5M | $6.8M | $125.2M | $108.2M | $80.6M | $46.5M | $79.7M | $57.6M |
| Free cash flow | $88.9M | $55.5M | $77.4M | −$4.3M | $35.7M | $43.2M | $51.3M | $30.3M | $35.5M | $46.6M |
| Free cash flow margin | 13.0% | 8.4% | 11.7% | −0.8% | 9.4% | 12.4% | 12.9% | 7.3% | 9.4% | 12.2% |
| Capex / revenue | 2.5% | 2.2% | 3.2% | 3.5% | 2.6% | 2.3% | 2.7% | 2.6% | 2.0% | 1.8% |
| Operating cash flow / net income | 2.00 | 1.74 | 2.81 | 1.22 | 1.52 | 2.03 | 1.74 | 1.03 | 1.63 | 2.15 |
| 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 | $19.4M | $17.8M | $13.7M | $11.3M | $15.8M | $12.1M | $11.0M | $12.9M | $8.3M | $7.9M | $9.0M | $9.0M |
| Depreciation & amortization | $7.1M | $7.0M | $6.9M | $6.9M | $7.0M | $7.0M | $6.9M | $6.9M | $7.0M | $7.1M | $7.3M | $7.0M |
| Stock-based compensation | $1.4M | $1.2M | $729,000 | $1.8M | $1.0M | $1.0M | $983,000 | $1.1M | $881,000 | $1.1M | $917,000 | $729,000 |
| Change in working capital | −$5.9M | −$10.0M | −$16.5M | $21.8M | $1.7M | −$536,000 | −$10.3M | $7.8M | $1.1M | −$7.8M | $7.3M | $14.5M |
| Other non-cash items | $18.5M | $6.0M | $10.1M | $503,000 | $2.3M | $1.5M | $639,000 | −$1.5M | $5.3M | $2.5M | $2.1M | $2.6M |
| Cash from operating activities | $40.5M | $22.0M | $15.0M | $42.3M | $27.8M | $21.1M | $9.3M | $27.2M | $22.7M | $10.7M | $26.6M | $33.8M |
| Investing activities | ||||||||||||
| Capital expenditures | −$4.3M | −$4.3M | −$4.8M | −$6.6M | −$3.0M | −$3.0M | −$4.0M | −$3.2M | −$3.2M | −$3.9M | −$3.9M | −$3.6M |
| Investments (net) | — | — | — | −$6.5M | −$2.9M | −$3.0M | −$3.8M | −$3.1M | −$1.1M | −$3.9M | −$3.9M | −$3.4M |
| Acquisitions & other investing | $704,000 | $127,000 | $1.9M | $6.6M | $3.0M | $3.0M | $4.0M | $3.2M | $3.2M | $3.9M | $3.9M | −$9.3M |
| Cash from investing activities | −$3.6M | −$4.1M | −$2.9M | −$6.5M | −$2.9M | −$3.0M | −$3.8M | −$3.1M | −$1.1M | −$3.9M | −$3.9M | −$16.3M |
| Financing activities | ||||||||||||
| Dividends paid | −$5.0M | −$5.0M | −$5.0M | −$4.9M | −$4.9M | −$4.9M | −$4.9M | −$4.7M | −$4.7M | −$4.7M | −$4.7M | −$4.6M |
| Share repurchases & issuance (net) | $0 | −$2.6M | −$1.2M | $1.2M | −$11,000 | −$1.1M | $267,000 | −$267,000 | $0 | −$267,000 | −$1,000 | $1,000 |
| Net borrowing (repayment) | −$18.0M | −$15.0M | −$15.0M | −$15.0M | −$15.4M | −$14.6M | −$14.6M | −$14.6M | — | — | — | −$19.4M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$31,000 | −$30,000 | $1.1M | −$1.2M | −$29,000 | −$30,000 | −$296,000 | $215,000 | −$10.1M | −$4.4M | −$6.4M | $15,000 |
| Cash from financing activities | −$23.0M | −$22.7M | −$20.0M | −$19.9M | −$20.3M | −$20.6M | −$19.5M | −$19.4M | −$14.9M | −$9.4M | −$11.1M | −$23.9M |
| Summary | ||||||||||||
| Net change in cash | $13.7M | −$5.2M | −$7.9M | $16.0M | $5.1M | −$2.4M | −$15.5M | $5.5M | $6.5M | −$2.7M | $12.3M | $6.0M |
| Cash at end of period | $43.6M | $29.9M | $35.1M | $42.9M | $27.0M | $21.8M | $24.2M | $39.7M | $34.2M | $27.8M | $30.5M | $18.2M |
| Free cash flow | $44.7M | $17.7M | $10.2M | $35.8M | $24.8M | $18.1M | $5.2M | $24.0M | $19.4M | $6.8M | $22.6M | $30.2M |
| Free cash flow margin | 24.0% | 10.0% | 6.1% | 20.7% | 13.9% | 11.0% | 3.2% | 14.3% | 11.5% | 4.3% | 14.1% | 18.0% |
| Capex / revenue | 2.3% | 2.4% | 2.9% | 3.8% | 1.7% | 1.8% | 2.5% | 1.9% | 1.9% | 2.5% | 2.4% | 2.2% |
| Operating cash flow / net income | 2.08 | 1.23 | 1.09 | 3.73 | 1.76 | 1.74 | 0.84 | 2.10 | 2.72 | 1.36 | 2.96 | 3.77 |
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.
GRC cash generation
In fiscal 2025 (ended December 31, 2025), Gorman-Rupp generated $106.2 million of cash from operations (up 52.1%) and spent $17.4 million on capital expenditures, leaving free cash flow of $88.9 million, 13.0% of revenue. It returned $20.7 million to shareholders through dividends ($19.6 million) and net share buybacks ($1.2 million). Cash and equivalents rose by $10.9 million over the year.
Related: GRC income statement, GRC balance sheet, GRC dividend history. See the GRC stock overview for the latest quote and news.
GRC cash flow FAQ
What is Gorman-Rupp's free cash flow?
Gorman-Rupp's free cash flow was $88.9 million in fiscal 2025: $106.2 million of operating cash flow minus $17.4 million of capital expenditures It was $55.5 million a year earlier..
How much cash does Gorman-Rupp generate from operations?
Gorman-Rupp generated $106.2 million of cash from operating activities in fiscal 2025, 2.00 times its net income of $53.0 million.
How much does Gorman-Rupp spend on capital expenditures?
Gorman-Rupp spent $17.4 million on capital expenditures in fiscal 2025, 2.5% of revenue, compared with $14.3 million the year before.
How much stock does Gorman-Rupp buy back?
Gorman-Rupp spent $1.2 million on net share repurchases in fiscal 2025.
How much does Gorman-Rupp pay in dividends?
Gorman-Rupp paid $19.6 million in dividends in fiscal 2025, 22.0% of free cash flow.