Hamilton Beach Brands Holding Company (HBB) Cash Flow Statement
Where HBB’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $13.8M −78.9% vs 2024
- Capital expenditures
- $2.8M 0.5% of revenue
- Free cash flow
- $11.0M 1.8% margin
- Returned to shareholders
- $15.4M 140% of free cash flow
- Change in cash
- $789,000 cash at year-end $47.3M
Drawn to scale: where the cash came from and how it was used. Hover for values.
HBB operating cash flow, capex and free cash flow
HBB cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $62.6M2016 | $13.8M2025 | −15.5%/yr | |
| Capital expenditures | $6.0M2016 | $2.8M2025 | −8.2%/yr | |
| Free cash flow | $56.6M2016 | $11.0M2025 | −16.6%/yr | |
| Free cash flow margin | 7.6%2016 | 1.8%2025 | −5.8 pts | |
| Operating cash flow / net income | 2.392016 | 0.522025 | −1.87 | |
| Stock-based compensation | $323,0002017 | $4.1M2025 | +37.5%/yr | |
| Dividends paid | $42.0M2016 | $6.4M2025 | −18.8%/yr | |
| Share buybacks (net) | $02017 | $9.0M2025 | — | |
| Capex / revenue | 0.8%2016 | 0.5%2025 | −0.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HBB cash flow by activity
HBB 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).
HBB cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $26.5M | $30.8M | $25.2M | $25.3M | $21.3M | $24.1M | $25.1M | $21.8M | $18.1M | $26.2M |
| Depreciation & amortization | $5.9M | $4.8M | $4.4M | $4.9M | $4.9M | $3.9M | $4.0M | $4.3M | $4.1M | $6.2M |
| Stock-based compensation | $4.1M | $6.3M | $5.4M | $3.4M | $3.2M | $4.0M | $2.6M | $3.6M | $323,000 | — |
| Change in working capital | −$26.5M | $16.9M | $54.9M | −$39.3M | −$14.7M | −$60.5M | −$35.2M | −$25.3M | $3.5M | $29.1M |
| Other non-cash items | $3.9M | $6.7M | −$1.3M | $2.3M | $3.1M | $624,000 | $3.7M | $7.5M | $7.4M | $1.1M |
| Cash from operating activities | $13.8M | $65.4M | $88.6M | −$3.4M | $17.9M | −$27.9M | $202,000 | $11.8M | $33.4M | $62.6M |
| Investing activities | ||||||||||
| Capital expenditures | −$2.8M | −$3.2M | −$3.4M | −$2.3M | −$11.8M | −$3.3M | −$4.1M | −$8.1M | −$7.4M | −$6.0M |
| Investments (net) | $5.0M | −$13.9M | −$3.2M | −$2.3M | −$11.8M | −$3.8M | −$4.1M | −$8.1M | −$7.4M | −$5.9M |
| Acquisitions & other investing | −$291,000 | $3.2M | $1.4M | $2.3M | $11.8M | $3.3M | $4.1M | $8.1M | $7.4M | $6.0M |
| Cash from investing activities | $1.9M | −$13.9M | −$5.2M | −$2.3M | −$11.8M | −$3.8M | −$4.1M | −$8.1M | −$7.4M | −$5.9M |
| Financing activities | ||||||||||
| Dividends paid | −$6.4M | −$6.3M | −$6.1M | −$5.8M | −$5.5M | −$5.1M | −$4.9M | −$4.7M | −$39.2M | −$42.0M |
| Share repurchases & issuance (net) | −$9.0M | −$14.1M | −$3.1M | −$3.0M | −$1.6M | $0 | −$6.0M | — | $0 | — |
| Net borrowing (repayment) | $0 | $0 | −$60.9M | $14.3M | −$1.7M | $39.8M | $11.9M | −$4.6M | $12.6M | −$19.7M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | −$548,000 | $0 | $0 | $1.5M | −$528,000 | $0 | $0 | −$70,000 | −$186,000 |
| Cash from financing activities | −$15.4M | −$20.9M | −$70.1M | $5.6M | −$7.3M | $34.2M | $1.1M | −$9.3M | −$26.6M | −$61.8M |
| Summary | ||||||||||
| Net change in cash | $789,000 | $30.1M | $14.5M | −$245,000 | −$1.3M | −$3.7M | $812,000 | −$4.6M | −$434,000 | −$5.5M |
| Cash at end of period | $47.3M | $46.5M | $16.4M | $1.9M | $2.1M | $3.4M | $7.2M | $6.4M | $10.9M | $11.3M |
| Free cash flow | $11.0M | $62.2M | $85.2M | −$5.7M | $6.0M | −$31.2M | −$3.9M | $3.7M | $26.1M | $56.6M |
| Free cash flow margin | 1.8% | 9.5% | 13.6% | −0.9% | 0.9% | −5.2% | −0.6% | 0.6% | 3.5% | 7.6% |
| Capex / revenue | 0.5% | 0.5% | 0.5% | 0.4% | 1.8% | 0.5% | 0.7% | 1.3% | 1.0% | 0.8% |
| Operating cash flow / net income | 0.52 | 2.13 | 3.51 | −0.14 | 0.84 | −1.16 | 0.01 | 0.54 | 1.85 | 2.39 |
| 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 | $33.7M | $3.5M | $18.5M | $1.7M | $4.5M | $1.8M | $24.0M | $1.9M | $6.0M | −$1.2M | $19.6M | $10.3M |
| Depreciation & amortization | $2.8M | $2.6M | $2.1M | $1.3M | $1.3M | $1.2M | $1.1M | $1.1M | $1.4M | $1.2M | $1.3M | $950,000 |
| Stock-based compensation | $1.4M | $1.2M | $1.6M | $569,000 | $852,000 | $1.2M | −$1.1M | $4.3M | $1.2M | $1.9M | $2.2M | $1.4M |
| Change in working capital | $20.2M | −$4.3M | $819,000 | $5.9M | −$36.6M | $3.4M | $10.4M | −$24.9M | $8.4M | $16.5M | −$2.0M | −$1.7M |
| Other non-cash items | $170,000 | $225,000 | $5.4M | −$276,000 | −$359,000 | −$935,000 | −$4.1M | $15.7M | $355,000 | $1.3M | −$1.1M | $439,000 |
| Cash from operating activities | $58.2M | $3.3M | $28.5M | $9.1M | −$30.4M | $6.6M | $30.2M | −$1.9M | $17.4M | $19.7M | $20.0M | $11.4M |
| Investing activities | ||||||||||||
| Capital expenditures | −$575,000 | −$320,000 | −$549,000 | −$762,000 | −$950,000 | −$516,000 | −$846,000 | −$807,000 | −$598,000 | −$942,000 | −$1.1M | −$800,000 |
| Investments (net) | — | — | $5.0M | −$1.0M | −$950,000 | −$516,000 | −$846,000 | −$5.7M | −$598,000 | −$6.7M | −$2.7M | −$800,000 |
| Acquisitions & other investing | $0 | $0 | −$13,000 | $762,000 | $950,000 | $516,000 | $846,000 | $807,000 | $598,000 | $942,000 | $1.1M | −$836,000 |
| Cash from investing activities | −$575,000 | −$320,000 | $4.4M | −$1.0M | −$950,000 | −$516,000 | −$846,000 | −$5.7M | −$598,000 | −$6.7M | −$2.7M | −$2.4M |
| Financing activities | ||||||||||||
| Dividends paid | −$1.7M | −$1.6M | −$1.6M | −$1.6M | −$1.6M | −$1.6M | −$1.6M | −$1.6M | −$1.6M | −$1.5M | −$1.5M | −$1.5M |
| Share repurchases & issuance (net) | −$2.0M | −$1.2M | −$1.1M | −$575,000 | −$4.0M | −$3.4M | −$4.2M | −$5.3M | −$4.0M | −$554,000 | −$1.6M | −$895,000 |
| Net borrowing (repayment) | — | — | — | — | — | — | $0 | $0 | — | — | — | −$8.6M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | $0 | $0 | $0 | −$548,000 | $0 | $0 | $0 | −$1.3M | $0 |
| Cash from financing activities | −$3.6M | −$2.8M | −$2.7M | −$2.2M | −$5.6M | −$5.0M | −$6.4M | −$6.9M | −$5.6M | −$2.1M | −$4.4M | −$11.0M |
| Summary | ||||||||||||
| Net change in cash | $54.1M | $103,000 | $30.1M | $5.8M | −$37.0M | $1.8M | $23.0M | −$14.6M | $10.9M | $10.9M | $13.8M | −$506,000 |
| Cash at end of period | $101.5M | $47.4M | $47.3M | $17.2M | $11.3M | $48.3M | $46.5M | $22.6M | $38.2M | $27.2M | $15.4M | $2.6M |
| Free cash flow | $57.7M | $3.0M | $27.9M | $8.4M | −$31.3M | $6.1M | $29.4M | −$2.7M | $16.8M | $18.8M | $18.8M | $10.6M |
| Free cash flow margin | 40.4% | 2.4% | 13.1% | 6.3% | −24.5% | 4.6% | 13.8% | −1.7% | 10.7% | 14.6% | 9.1% | 6.9% |
| Capex / revenue | 0.4% | 0.3% | 0.3% | 0.6% | 0.7% | 0.4% | 0.4% | 0.5% | 0.4% | 0.7% | 0.5% | 0.5% |
| Operating cash flow / net income | 1.73 | 0.93 | 1.53 | 5.52 | −6.83 | 3.67 | 1.26 | −0.98 | 2.90 | — | 1.02 | 1.10 |
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.
HBB cash generation
In fiscal 2025 (ended December 31, 2025), Hamilton Beach Brands generated $13.8 million of cash from operations (down 78.9%) and spent $2.8 million on capital expenditures, leaving free cash flow of $11.0 million, 1.8% of revenue. It returned $15.4 million to shareholders through dividends ($6.4 million) and net share buybacks ($9.0 million). Cash and equivalents rose by $0.8 million over the year.
Related: HBB income statement, HBB balance sheet, HBB dividend history. See the HBB stock overview for the latest quote and news.
HBB cash flow FAQ
What is Hamilton Beach Brands's free cash flow?
Hamilton Beach Brands's free cash flow was $11.0 million in fiscal 2025: $13.8 million of operating cash flow minus $2.8 million of capital expenditures It was $62.2 million a year earlier..
How much cash does Hamilton Beach Brands generate from operations?
Hamilton Beach Brands generated $13.8 million of cash from operating activities in fiscal 2025, 0.52 times its net income of $26.5 million.
How much does Hamilton Beach Brands spend on capital expenditures?
Hamilton Beach Brands spent $2.8 million on capital expenditures in fiscal 2025, 0.5% of revenue, compared with $3.2 million the year before.
How much stock does Hamilton Beach Brands buy back?
Hamilton Beach Brands spent $9.0 million on net share repurchases in fiscal 2025.
How much does Hamilton Beach Brands pay in dividends?
Hamilton Beach Brands paid $6.4 million in dividends in fiscal 2025, 58.3% of free cash flow.