Imperial Petroleum Inc. (IMPP) Cash Flow Statement
Where IMPP’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $80.8M +4.0% vs 2024
- Capital expenditures
- $1.7M 1.1% of revenue
- Free cash flow
- $79.1M 49.1% margin
- Returned to shareholders
- $1.7M 2% of free cash flow
- Change in cash
- −$62.0M cash at year-end $5.8M
Drawn to scale: where the cash came from and how it was used. Hover for values.
IMPP operating cash flow, capex and free cash flow
IMPP cash flow trends, 2009–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$2.0M2009 | $80.8M2025 | — | |
| Capital expenditures | $434,4072009 | $1.7M2025 | +16.4%/yr | |
| Free cash flow | −$2.5M2009 | $79.1M2025 | — | |
| Free cash flow margin | −232.1%2009 | 49.1%2025 | +281.2 pts | |
| Operating cash flow / net income | −0.192009 | 1.622025 | +1.81 | |
| Stock-based compensation | $486,5082010 | $3.2M2025 | +26.5%/yr | |
| Dividends paid | $130,5742019 | $1.7M2025 | +53.9%/yr | |
| Share buybacks (net) | $02021 | $02025 | — | |
| Capex / revenue | 40.6%2009 | 1.1%2025 | −39.6 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
IMPP cash flow by activity
IMPP 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).
IMPP cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $50.0M | $50.2M | $71.1M | $29.5M | −$3.6M | −$393,761 | −$375,184 | $6.1M | −$17.8M | $10.8M |
| Depreciation & amortization | $25.9M | $17.0M | $15.6M | $12.3M | $8.7M | $8.6M | $8.6M | $880,015 | — | $383,189 |
| Stock-based compensation | $3.2M | $3.4M | $2.4M | $117,256 | $0 | $0 | — | $348,598 | $486,508 | — |
| Change in working capital | $2.6M | $3.5M | −$10.2M | −$1.1M | $171,934 | $617,436 | $335,463 | −$4.2M | $434,563 | −$134,941 |
| Other non-cash items | −$888,990 | $3.6M | $519,689 | $94,007 | $32,587 | $0 | $0 | $309,526 | $16.5M | −$13.1M |
| Cash from operating activities | $80.8M | $77.7M | $79.5M | $40.9M | $5.2M | $8.9M | $8.6M | $3.4M | −$427,807 | −$2.0M |
| Investing activities | ||||||||||
| Capital expenditures | −$1.7M | −$74.7M | −$28.1M | −$118.7M | −$142,600 | −$728,000 | −$728,000 | −$1.2M | −$104,843 | −$434,407 |
| Investments (net) | −$33.4M | −$106.7M | −$88.9M | −$186.7M | −$142,600 | −$728,000 | −$68.0M | — | — | — |
| Acquisitions & other investing | $2 | $74.7M | $129.3M | $118.7M | $142,600 | $728,000 | $68.0M | $131,784 | $149,403 | $15.3M |
| Cash from investing activities | −$35.1M | −$106.7M | $12.3M | −$186.7M | −$142,600 | −$728,000 | −$728,000 | −$1.1M | $44,560 | $14.8M |
| Financing activities | ||||||||||
| Dividends paid | −$1.7M | −$1.7M | −$2.1M | −$1.7M | −$25.9M | −$130,574 | −$130,574 | — | — | — |
| Share repurchases & issuance (net) | $0 | −$2.5M | −$5.9M | $0 | $0 | — | — | — | — | — |
| Net borrowing (repayment) | −$164.7M | $0 | −$70.4M | $42.4M | $28.0M | $28.0M | $28.0M | — | — | — |
| Shares issued | $60.0M | $0 | $28.6M | $168.2M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.3M | $9.1M | −$7.5M | −$12.0M | −$8.5M | −$37.2M | −$32.0M | −$1.5M | $394,619 | −$13.0M |
| Cash from financing activities | −$107.7M | $4.8M | −$57.4M | $196.9M | −$6.4M | −$9.3M | −$4.2M | −$1.5M | $394,619 | −$13.0M |
| Summary | ||||||||||
| Net change in cash | −$62.0M | −$24.1M | $34.4M | $51.2M | −$1.3M | −$1.2M | $4.4M | $872,358 | $11,372 | −$168,719 |
| Cash at end of period | $5.8M | $67.8M | $91.9M | $57.5M | $6.3M | $7.6M | $8.8M | $900,883 | $28,525 | $17,153 |
| Free cash flow | $79.1M | $3.0M | $51.4M | −$77.8M | $5.1M | $8.1M | $8.6M | $2.3M | −$532,650 | −$2.5M |
| Free cash flow margin | 49.1% | 2.0% | 28.0% | −80.2% | 29.4% | 40.1% | 64.3% | 2.1% | −9.4% | −232.1% |
| Capex / revenue | 1.1% | 50.6% | 15.3% | 122.3% | 0.8% | 3.6% | 5.5% | 1.1% | 1.9% | 40.6% |
| Operating cash flow / net income | 1.62 | 1.55 | 1.12 | 1.39 | — | — | — | 0.57 | — | −0.19 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $34.8M | $27.5M | $15.0M | $11.0M | $12.8M | $3.9M | $3.4M | $10.1M | $19.5M | $16.7M | $12.1M | $16.8M |
| Depreciation & amortization | $8.2M | $7.9M | $7.6M | $7.5M | $5.7M | $5.0M | $4.5M | $4.3M | $4.2M | $4.0M | $3.5M | $4.6M |
| Stock-based compensation | $519,451 | $581,705 | $827,283 | $799,648 | $671,643 | $889,076 | $665,062 | $836,648 | $1.0M | $858,810 | $591,259 | $789,648 |
| Change in working capital | −$2.0M | −$374,196 | $207,725 | −$4.5M | $2.8M | — | −$1.4M | $13.9M | −$5.5M | −$3.5M | $2.1M | $1.3M |
| Other non-cash items | $90,782 | $794,136 | $23,672 | $1.2M | −$651,893 | $10.9M | $2.0M | $205,132 | $1.4M | $627,117 | −$8.4M | $9.3M |
| Cash from operating activities | $41.6M | $36.4M | $23.7M | $16.0M | $21.3M | $20.7M | $9.1M | $29.3M | $20.7M | $18.6M | $9.9M | $32.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$5 | −$1 | −$25,183 | −$1.8M | −$24,470 | −$4,350 | −$78,698 | −$1.7M | −$599,670 | −$72.3M | −$1.4M | −$360,749 |
| Investments (net) | −$97.3M | $32.3M | −$76.9M | −$11.9M | $17.0M | $38.4M | −$108.4M | $61.8M | $12.4M | — | — | — |
| Acquisitions & other investing | $210,868 | $0 | −$3.0M | $77,438 | $24,470 | −$146.8M | — | $1.7M | $599,670 | −$327,340 | −$11.0M | −$43.4M |
| Cash from investing activities | −$97.1M | $32.3M | −$79.9M | −$13.6M | $17.0M | −$108.4M | — | $61.8M | $12.4M | −$72.6M | −$12.4M | −$43.7M |
| Financing activities | ||||||||||||
| Dividends paid | −$432,272 | −$441,008 | −$428,698 | −$460,450 | −$525,459 | −$342,616 | −$488,308 | −$471,061 | −$432,139 | −$341,947 | −$649,243 | −$441,494 |
| Share repurchases & issuance (net) | −$8.4M | −$2.2M | $0 | $0 | $0 | — | $0 | −$36,178 | $10,010 | −$2.5M | −$220,571 | −$2 |
| Net borrowing (repayment) | — | — | $0 | −$128.0M | — | — | $0 | $0 | $0 | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1 | −$1 | $60.6M | −$3.8M | −$36.7M | $0 | $452,822 | $6.8M | $1.8M | $0 | $15.8M | −$50.9M |
| Cash from financing activities | −$8.8M | −$2.6M | $60.2M | −$132.3M | −$37.2M | −$342,616 | −$35,486 | $6.3M | $1.4M | −$2.8M | $14.9M | −$51.4M |
| Summary | ||||||||||||
| Net change in cash | −$64.4M | $66.1M | $2.9M | −$124.8M | $1.2M | $58.4M | −$99.4M | $97.4M | $34.4M | −$56.6M | $12.4M | −$62.3M |
| Cash at end of period | $7.5M | $71.9M | $5.8M | $2.9M | $127.7M | $126.5M | $67.8M | $167.1M | $69.7M | $35.3M | $49.1M | $36.7M |
| Free cash flow | $41.6M | $36.4M | $23.7M | $14.2M | $21.3M | $20.7M | $9.0M | $27.6M | $20.1M | −$53.4M | $8.5M | $32.5M |
| Free cash flow margin | 47.7% | 59.0% | 46.3% | 34.4% | 58.7% | 64.4% | 34.3% | 83.5% | 42.6% | −129.7% | 29.0% | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 4.2% | 0.1% | 0.0% | 0.3% | 5.3% | 1.3% | 175.4% | 4.8% | — |
| Operating cash flow / net income | 1.20 | 1.32 | 1.58 | 1.46 | 1.67 | 5.28 | 2.70 | 2.91 | 1.06 | 1.12 | 0.82 | 1.95 |
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.
IMPP cash generation
In fiscal 2025 (ended December 31, 2025), Imperial Petroleum generated $80.8 million of cash from operations (up 4.0%) and spent $1.7 million on capital expenditures, leaving free cash flow of $79.1 million, 49.1% of revenue. It returned $1.7 million to shareholders through dividends ($1.7 million) and net share buybacks ($0). Cash and equivalents fell by $62.0 million over the year.
Related: IMPP income statement, IMPP balance sheet. See the IMPP stock overview for the latest quote and news.
IMPP cash flow FAQ
What is Imperial Petroleum's free cash flow?
Imperial Petroleum's free cash flow was $79.1 million in fiscal 2025: $80.8 million of operating cash flow minus $1.7 million of capital expenditures It was $3.0 million a year earlier..
How much cash does Imperial Petroleum generate from operations?
Imperial Petroleum generated $80.8 million of cash from operating activities in fiscal 2025, 1.62 times its net income of $50.0 million.
How much does Imperial Petroleum spend on capital expenditures?
Imperial Petroleum spent $1.7 million on capital expenditures in fiscal 2025, 1.1% of revenue, compared with $74.7 million the year before.
How much does Imperial Petroleum pay in dividends?
Imperial Petroleum paid $1.7 million in dividends in fiscal 2025, 2.2% of free cash flow.