Matrix Service Company (MTRX) Cash Flow Statement
Where MTRX’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- $6.9M −94.1% vs FY2025
- Capital expenditures
- $5.5M 0.6% of revenue
- Free cash flow
- $1.4M 0.2% margin
- Returned to shareholders
- $4.2M 297% of free cash flow
- Change in cash
- −$1.7M cash at year-end $248.0M
Drawn to scale: where the cash came from and how it was used. Hover for values.
MTRX operating cash flow, capex and free cash flow
MTRX cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$18.7MFY2017 | $6.9MFY2026 | — | |
| Capital expenditures | $11.9MFY2017 | $5.5MFY2026 | −8.3%/yr | |
| Free cash flow | −$30.7MFY2017 | $1.4MFY2026 | — | |
| Free cash flow margin | −2.6%FY2017 | 0.2%FY2026 | +2.7 pts | |
| Operating cash flow / net income | −135.84FY2017 | 1.48FY2019 | +137.32 | |
| Stock-based compensation | $7.5MFY2017 | $7.1MFY2026 | −0.5%/yr | |
| Dividends paid | $127.2MFY2017 | $252,000FY2023 | −64.6%/yr | |
| Share buybacks (net) | $2.3MFY2017 | $4.2MFY2026 | +7.0%/yr | |
| Capex / revenue | 1.0%FY2017 | 0.6%FY2026 | −0.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MTRX cash flow by activity
MTRX 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).
MTRX cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$2.6M | −$29.5M | −$25.0M | −$52.4M | −$63.9M | −$31.2M | −$33.1M | $28.0M | −$11.5M | $138,000 |
| Depreciation & amortization | $8.6M | $10.0M | $11.0M | $13.7M | $15.3M | $17.9M | $19.1M | $18.2M | $20.3M | $21.6M |
| Stock-based compensation | $7.1M | $8.9M | $7.7M | $6.8M | $7.9M | $8.2M | $9.9M | $11.9M | $8.6M | $7.5M |
| Change in working capital | −$8.8M | $127.8M | $82.3M | $32.5M | −$6.4M | $1.6M | $7.7M | −$18.2M | $40.5M | −$47.3M |
| Other non-cash items | $2.5M | $242,000 | −$3.6M | $9.6M | −$7.0M | $687,000 | $40.5M | $1.5M | $16.7M | −$661,000 |
| Cash from operating activities | $6.9M | $117.5M | $72.6M | $10.2M | −$54.2M | −$3.0M | $44.1M | $41.4M | $74.7M | −$18.7M |
| Investing activities | ||||||||||
| Capital expenditures | −$5.5M | −$7.7M | −$7.0M | −$9.0M | −$3.3M | −$4.4M | −$18.5M | −$19.6M | −$8.7M | −$11.9M |
| Investments (net) | — | −$7.4M | −$945,000 | −$2.5M | $35.7M | −$2.3M | −$17.1M | −$14.4M | −$9.3M | −$51.4M |
| Acquisitions & other investing | $1.9M | $7.7M | $7.0M | $9.0M | $3.3M | $4.4M | $18.5M | $19.6M | $8.7M | $11.9M |
| Cash from investing activities | −$3.5M | −$7.4M | −$945,000 | −$2.5M | $35.7M | −$2.3M | −$17.1M | −$14.4M | −$9.3M | −$51.4M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | −$252,000 | — | −$1.4M | −$320,000 | — | −$85.6M | −$127.2M |
| Share repurchases & issuance (net) | −$4.2M | −$1.2M | −$456,000 | −$310,000 | −$853,000 | −$1.6M | −$20.6M | −$6.9M | −$627,000 | −$2.3M |
| Net borrowing (repayment) | $0 | $0 | −$10.0M | −$5.0M | $13.1M | −$10.1M | $4.2M | $5.3M | −$45.3M | $43.6M |
| Shares issued | $0 | $0 | $0 | $0 | $199,000 | $349,000 | $0 | $128,000 | $0 | $0 |
| Other financing | $53,000 | $195,000 | $84,000 | $504,000 | $270,000 | $448,000 | $640,000 | $311,000 | $86.2M | $128.7M |
| Cash from financing activities | −$4.2M | −$1.0M | −$10.4M | −$5.1M | $12.7M | −$12.3M | −$16.0M | −$1.1M | −$45.3M | $42.7M |
| Summary | ||||||||||
| Net change in cash | −$1.7M | $109.0M | $60.8M | $2.4M | −$6.5M | −$16.2M | $10.3M | $25.7M | $20.3M | −$27.9M |
| Cash at end of period | $248.0M | $249.6M | $140.6M | $79.8M | $77.4M | $83.9M | $100.0M | $89.7M | $64.1M | $43.8M |
| Free cash flow | $1.4M | $109.8M | $65.6M | $1.2M | −$57.5M | −$7.3M | $25.5M | $21.8M | $66.0M | −$30.7M |
| Free cash flow margin | 0.2% | 14.3% | 9.0% | 0.2% | −8.1% | −1.1% | 2.3% | 1.5% | 6.0% | −2.6% |
| Capex / revenue | 0.6% | 1.0% | 1.0% | 1.1% | 0.5% | 0.6% | 1.7% | 1.4% | 0.8% | 1.0% |
| Operating cash flow / net income | — | — | — | — | — | — | — | 1.48 | — | −135.84 |
| 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 | $1.1M | $835,000 | −$894,000 | −$3.7M | −$11.3M | −$3.4M | −$5.5M | −$9.2M | −$4.4M | −$14.6M | −$2.9M | −$3.2M |
| Depreciation & amortization | $1.9M | $2.0M | $2.2M | $2.5M | $2.5M | $2.5M | $2.5M | $2.5M | $2.7M | $2.6M | $2.8M | $2.9M |
| Stock-based compensation | $1.7M | $1.4M | $2.1M | $1.9M | $2.1M | $2.2M | $2.3M | $2.3M | $2.0M | $2.0M | $2.0M | $1.8M |
| Change in working capital | −$13.8M | $29.2M | $3.8M | −$28.0M | $47.1M | $29.9M | $34.6M | $16.2M | $45.9M | $34.7M | $29.8M | −$28.1M |
| Other non-cash items | $281,000 | $653,000 | $135,000 | $1.4M | $256,000 | $69,000 | −$189,000 | $106,000 | $700,000 | $103,000 | −$2.2M | −$2.3M |
| Cash from operating activities | −$8.8M | $34.2M | $7.5M | −$25.9M | $40.7M | $31.2M | $33.6M | $11.9M | $46.9M | $24.8M | $29.6M | −$28.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.4M | −$917,000 | −$1.2M | −$2.0M | −$2.3M | −$2.6M | −$915,000 | −$1.9M | −$1.3M | −$4.8M | −$381,000 | −$478,000 |
| Investments (net) | — | — | — | −$1.8M | −$2.3M | −$2.5M | −$752,000 | −$1.9M | −$791,000 | −$2.1M | −$193,000 | $2.1M |
| Acquisitions & other investing | $459,000 | $999,000 | $262,000 | $2.0M | $2.3M | $2.6M | $915,000 | $1.9M | $1.3M | $4.8M | $381,000 | $478,000 |
| Cash from investing activities | −$920,000 | $82,000 | −$914,000 | −$1.8M | −$2.3M | −$2.5M | −$752,000 | −$1.9M | −$791,000 | −$2.1M | −$193,000 | $2.1M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | $58,000 | $46,000 | $55,000 | −$4.2M | $46,000 | $47,000 | $1.3M | −$1.2M | $52,000 | $0 | $0 | −$456,000 |
| Net borrowing (repayment) | — | — | — | — | $0 | $0 | — | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | −$106,000 | $0 | $0 | −$1.3M | $46,000 | $0 | $41,000 | −$10.0M | $45,000 |
| Cash from financing activities | $58,000 | $46,000 | $55,000 | −$4.3M | $46,000 | $47,000 | $56,000 | −$1.2M | $52,000 | $41,000 | −$10.0M | −$411,000 |
| Summary | ||||||||||||
| Net change in cash | −$10.1M | $34.1M | $6.7M | −$32.3M | $39.1M | $28.8M | $32.2M | $9.0M | $46.0M | $22.5M | $19.8M | −$27.5M |
| Cash at end of period | $248.0M | $258.0M | $224.0M | $217.3M | $249.6M | $210.5M | $181.8M | $149.6M | $115.6M | $69.7M | $47.2M | $52.4M |
| Free cash flow | −$10.2M | $33.2M | $6.3M | −$27.9M | $38.4M | $28.7M | $32.7M | $10.0M | $45.6M | $20.0M | $29.2M | −$29.4M |
| Free cash flow margin | −4.2% | 16.1% | 3.0% | −13.2% | 17.8% | 14.3% | 17.5% | 6.0% | 24.1% | 12.1% | 16.7% | −14.9% |
| Capex / revenue | 0.6% | 0.4% | 0.6% | 0.9% | 1.0% | 1.3% | 0.5% | 1.2% | 0.7% | 2.9% | 0.2% | 0.2% |
| Operating cash flow / net income | −7.71 | 40.91 | — | — | — | — | — | — | — | — | — | — |
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.
MTRX cash generation
In fiscal 2026 (ended June 30, 2026), Matrix Service generated $6.9 million of cash from operations (down 94.1%) and spent $5.5 million on capital expenditures, leaving free cash flow of $1.4 million, 0.2% of revenue. It returned $4.2 million to shareholders through dividends ($0) and net share buybacks ($4.2 million). Cash and equivalents fell by $1.7 million over the year.
Related: MTRX income statement, MTRX balance sheet. See the MTRX stock overview for the latest quote and news.
MTRX cash flow FAQ
What is Matrix Service's free cash flow?
Matrix Service's free cash flow was $1.4 million in fiscal 2026: $6.9 million of operating cash flow minus $5.5 million of capital expenditures It was $109.8 million a year earlier..
How much cash does Matrix Service generate from operations?
Matrix Service generated $6.9 million of cash from operating activities in fiscal 2026.
How much does Matrix Service spend on capital expenditures?
Matrix Service spent $5.5 million on capital expenditures in fiscal 2026, 0.6% of revenue, compared with $7.7 million the year before.
How much stock does Matrix Service buy back?
Matrix Service spent $4.2 million on net share repurchases in fiscal 2026.