Hornbeck Offshore Services, Inc (HOS) Cash Flow Statement
Where HOS’s cash came from and went, 2024
December 31, 2024 · U.S. dollars- Cash from operations
- $16.5M −88.7% vs 2023
- Capital expenditures
- $120.1M 18.7% of revenue
- Free cash flow
- −$103.6M −16.2% margin
- Returned to shareholders
- $78.4M
- Change in cash
- −$39.3M cash at year-end $81.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
HOS operating cash flow, capex and free cash flow
HOS cash flow trends, 2022–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $113.0M2022 | $16.5M2024 | −61.8%/yr | |
| Capital expenditures | $132.1M2022 | $120.1M2024 | −4.7%/yr | |
| Free cash flow | −$19.1M2022 | −$103.6M2024 | — | |
| Free cash flow margin | −4.2%2022 | −16.2%2024 | −11.9 pts | |
| Operating cash flow / net income | 1.402022 | 0.182024 | −1.22 | |
| Stock-based compensation | $5.3M2022 | $9.4M2024 | +32.7%/yr | |
| Share buybacks (net) | $02022 | $78.4M2024 | — | |
| Capex / revenue | 29.3%2022 | 18.7%2024 | −10.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HOS cash flow by activity
HOS 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).
HOS cash flow statement
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Operating activities | |||
| Net income | $92.8M | $74.5M | $80.8M |
| Depreciation & amortization | $64.5M | $47.9M | $28.9M |
| Stock-based compensation | $9.4M | $19.1M | $5.3M |
| Change in working capital | −$77.6M | −$15.9M | −$53.0M |
| Other non-cash items | −$72.7M | $20.5M | $50.9M |
| Cash from operating activities | $16.5M | $146.1M | $113.0M |
| Investing activities | |||
| Capital expenditures | −$120.1M | −$171.2M | −$132.1M |
| Financing activities | |||
| Share repurchases & issuance (net) | −$78.4M | $0 | $0 |
| Net borrowing (repayment) | $163.1M | −$70.9M | $32.9M |
| Shares issued | $0 | $0 | $0 |
| Other financing | −$16.4M | −$5.1M | $11,000 |
| Cash from financing activities | $68.3M | −$76.0M | $32.9M |
| Summary | |||
| Net change in cash | −$39.3M | −$96.8M | $36.9M |
| Cash at end of period | $81.6M | $120.8M | $217.7M |
| Free cash flow | −$103.6M | −$25.1M | −$19.1M |
| Free cash flow margin | −16.2% | −4.4% | −4.2% |
| Capex / revenue | 18.7% | 29.9% | 29.3% |
| Operating cash flow / net income | 0.18 | 1.96 | 1.40 |
| Dec '24 | |
|---|---|
| Operating activities | |
| Net income | $9.7M |
| Depreciation & amortization | $17.6M |
| Stock-based compensation | $3.1M |
| Change in working capital | −$18.5M |
| Other non-cash items | −$70.6M |
| Cash from operating activities | −$58.6M |
| Investing activities | |
| Capital expenditures | −$34.7M |
| Financing activities | |
| Net borrowing (repayment) | $163.3M |
| Shares issued | $0 |
| Other financing | −$89.3M |
| Cash from financing activities | $74.1M |
| Summary | |
| Net change in cash | −$21.3M |
| Cash at end of period | $81.6M |
| Free cash flow | −$93.4M |
| Free cash flow margin | −58.0% |
| Capex / revenue | 21.6% |
| Operating cash flow / net income | −6.05 |
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.
HOS cash generation
In fiscal 2024 (ended December 31, 2024), Hornbeck Offshore Services generated $16.5 million of cash from operations (down 88.7%) and spent $120.1 million on capital expenditures, leaving free cash flow of -$103.6 million, −16.2% of revenue. It returned $78.4 million to shareholders through dividends ($0) and net share buybacks ($78.4 million). Cash and equivalents fell by $39.3 million over the year.
Related: HOS income statement, HOS balance sheet. See the HOS stock overview for the latest quote and news.
HOS cash flow FAQ
What is Hornbeck Offshore Services's free cash flow?
Hornbeck Offshore Services's free cash flow was -$103.6 million in fiscal 2024: $16.5 million of operating cash flow minus $120.1 million of capital expenditures It was -$25.1 million a year earlier..
How much cash does Hornbeck Offshore Services generate from operations?
Hornbeck Offshore Services generated $16.5 million of cash from operating activities in fiscal 2024, 0.18 times its net income of $92.8 million.
How much does Hornbeck Offshore Services spend on capital expenditures?
Hornbeck Offshore Services spent $120.1 million on capital expenditures in fiscal 2024, 18.7% of revenue, compared with $171.2 million the year before.
How much stock does Hornbeck Offshore Services buy back?
Hornbeck Offshore Services spent $78.4 million on net share repurchases in fiscal 2024.