Optimum Communications, Inc. (OPTU) Cash Flow Statement
Where OPTU’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $1.23B −22.4% vs 2024
- Capital expenditures
- $1.35B 15.7% of revenue
- Free cash flow
- −$118.8M −1.4% margin
- Returned to shareholders
- $9.7M
- Change in cash
- $884.6M cash at year-end $1.14B
Drawn to scale: where the cash came from and how it was used. Hover for values.
OPTU operating cash flow, capex and free cash flow
OPTU cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $1.18B2016 | $1.23B2025 | +0.4%/yr | |
| Capital expenditures | $625.6M2016 | $1.35B2025 | +8.9%/yr | |
| Free cash flow | $558.8M2016 | −$118.8M2025 | — | |
| Free cash flow margin | 9.3%2016 | −1.4%2025 | −10.7 pts | |
| Operating cash flow / net income | 1.352017 | 34.332023 | +32.98 | |
| Stock-based compensation | $14.4M2016 | $64.1M2025 | +18.1%/yr | |
| Dividends paid | $365.6M2016 | $9.7M2025 | −33.2%/yr | |
| Share buybacks (net) | $500.0M2018 | $02023 | −100.0% | |
| Capex / revenue | 10.4%2016 | 15.7%2025 | +5.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OPTU cash flow by activity
OPTU 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).
OPTU cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$1.87B | −$78.3M | $53.2M | $220.9M | $1.01B | $443.5M | $443.5M | $20.6M | $1.49B | −$831.5M |
| Depreciation & amortization | $1.70B | $1.64B | $1.69B | $1.77B | $1.79B | $2.08B | $2.08B | $2.38B | $2.93B | $1.70B |
| Stock-based compensation | $64.1M | $67.2M | $47.9M | $160.0M | $98.3M | $125.1M | $99.1M | $59.8M | $57.4M | $14.4M |
| Change in working capital | −$199.8M | $177.8M | −$39.0M | −$271.9M | −$346.5M | −$93.1M | −$93.1M | −$136.3M | −$300.7M | $438.1M |
| Other non-cash items | $1.54B | −$226.6M | $73.9M | $484.3M | $304.2M | $421.4M | $447.4M | $181.9M | −$2.16B | −$136.9M |
| Cash from operating activities | $1.23B | $1.58B | $1.83B | $2.37B | $2.85B | $2.98B | $2.98B | $2.51B | $2.02B | $1.18B |
| Investing activities | ||||||||||
| Capital expenditures | −$1.35B | −$1.43B | −$1.70B | −$1.91B | −$1.23B | −$1.07B | −$1.07B | −$1.15B | −$953.1M | −$625.6M |
| Investments (net) | — | −$1.46B | −$1.71B | −$1.92B | −$1.57B | — | — | — | — | — |
| Acquisitions & other investing | $53.5M | $1.43B | $1.70B | $1.91B | $1.23B | −$146.5M | −$146.5M | $5.8M | −$139.1M | −$8.97B |
| Cash from investing activities | −$1.29B | −$1.46B | −$1.71B | −$1.92B | −$1.57B | −$1.22B | −$1.22B | −$1.15B | −$1.09B | −$9.60B |
| Financing activities | ||||||||||
| Dividends paid | −$9.7M | −$8.4M | −$1.8M | — | — | — | — | −$1.50B | −$919.3M | −$365.6M |
| Share repurchases & issuance (net) | — | — | $0 | $0 | −$804.9M | −$4.82B | −$1.69B | −$500.0M | — | — |
| Net borrowing (repayment) | $1.16B | −$135.8M | −$98.4M | −$327.5M | −$546.1M | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$204.1M | −$27.7M | −$22.4M | −$8.4M | −$11.5M | $2.64B | −$494.2M | $608.9M | −$179.7M | $497.0M |
| Cash from financing activities | $949.4M | −$172.0M | −$122.6M | −$335.9M | −$1.36B | −$2.18B | −$2.18B | −$1.39B | −$1.10B | $131.4M |
| Summary | ||||||||||
| Net change in cash | $884.6M | −$45.5M | −$3.4M | $109.8M | −$82.7M | −$423.5M | −$423.5M | −$31.1M | −$173.0M | −$8.28B |
| Cash at end of period | $1.14B | $256.8M | $302.3M | $305.8M | $196.0M | $278.7M | $278.7M | $299.0M | $330.1M | $503.1M |
| Free cash flow | −$118.8M | $149.4M | $121.6M | $452.6M | $1.62B | $1.91B | $1.91B | $1.35B | $1.07B | $558.8M |
| Free cash flow margin | −1.4% | 1.7% | 1.3% | 4.7% | 16.1% | 19.3% | 19.5% | 14.2% | 11.4% | 9.3% |
| Capex / revenue | 15.7% | 16.0% | 18.5% | 19.8% | 12.2% | 10.9% | 11.0% | 12.1% | 10.2% | 10.4% |
| Operating cash flow / net income | — | — | 34.33 | 10.72 | 2.82 | 6.72 | 6.72 | 121.80 | 1.35 | — |
| 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 | −$282.1M | −$2.88B | −$71.2M | −$1.62B | −$88.0M | −$71.3M | −$54.1M | −$40.8M | $15.4M | −$21.2M | −$117.8M | $75.5M |
| Depreciation & amortization | $407.1M | $406.5M | $453.5M | $415.3M | $409.7M | $429.6M | $471.7M | $386.3M | $407.0M | $399.9M | $418.5M | $402.4M |
| Stock-based compensation | $5.6M | $15.0M | $20.5M | $12.0M | $16.2M | $15.4M | $16.8M | $20.2M | $16.4M | $13.8M | $18.6M | $16.1M |
| Change in working capital | −$35.6M | −$110.8M | $24.3M | −$332.7M | $175.0M | −$79.5M | $346.9M | $28.0M | −$72.2M | −$124.8M | $5.6M | $16.3M |
| Other non-cash items | $133.1M | $2.74B | $54.5M | $1.67B | −$100.9M | −$106.8M | −$341.4M | $42.4M | −$59.7M | $132.0M | $171.4M | −$35.8M |
| Cash from operating activities | $228.1M | $170.3M | $481.6M | $147.4M | $412.0M | $187.5M | $439.9M | $436.0M | $306.8M | $399.7M | $496.2M | $474.5M |
| Investing activities | ||||||||||||
| Capital expenditures | −$320.0M | −$307.7M | −$282.1M | −$326.2M | −$383.5M | −$356.1M | −$390.0M | −$359.2M | −$347.7M | −$336.1M | −$295.2M | −$353.2M |
| Investments (net) | — | — | — | −$265.1M | −$382.0M | −$363.5M | −$409.5M | −$360.1M | — | — | — | — |
| Acquisitions & other investing | $1.8M | $3.0M | −$972,000 | $326.2M | $383.5M | $356.1M | $390.0M | $359.2M | −$2.4M | −$6.9M | −$35,000 | −$99,000 |
| Cash from investing activities | −$318.2M | −$304.7M | −$283.1M | −$265.1M | −$382.0M | −$363.5M | −$409.5M | −$360.1M | −$350.1M | −$343.0M | −$295.3M | −$353.3M |
| Financing activities | ||||||||||||
| Net borrowing (repayment) | $73.1M | $226.6M | $4.1M | $981.5M | −$35.1M | $212.7M | −$20.2M | −$186.4M | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $268.4M | −$120.6M | −$105.0M | −$67.2M | −$27.6M | −$14.0M | −$3.6M | −$2.1M | $121.2M | −$73.6M | −$168.0M | −$69.9M |
| Cash from financing activities | $341.5M | $106.0M | −$100.9M | $914.3M | −$62.7M | $198.7M | −$23.8M | −$188.5M | $121.2M | −$73.6M | −$168.0M | −$69.9M |
| Summary | ||||||||||||
| Net change in cash | $251.4M | −$28.3M | $97.8M | $796.1M | −$31.8M | $22.6M | $6.5M | −$112.1M | $77.7M | −$17.6M | $33.7M | $49.3M |
| Cash at end of period | $1.36B | $1.11B | $1.14B | $1.04B | $247.6M | $279.4M | $256.8M | $250.3M | $362.4M | $284.7M | $302.3M | $268.7M |
| Free cash flow | −$91.9M | −$137.4M | $199.4M | −$178.7M | $28.4M | −$168.6M | $49.9M | $76.9M | −$40.9M | $63.6M | $201.0M | $121.3M |
| Free cash flow margin | −4.5% | −6.7% | 9.1% | −8.5% | 1.3% | −7.8% | 2.2% | 3.5% | −1.8% | 2.8% | 8.7% | 5.2% |
| Capex / revenue | 15.8% | 14.9% | 12.9% | 15.5% | 17.9% | 16.5% | 17.5% | 16.1% | 15.5% | 14.9% | 12.8% | 15.2% |
| Operating cash flow / net income | — | — | — | — | — | — | — | — | 19.97 | — | — | 6.28 |
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.
OPTU cash generation
In fiscal 2025 (ended December 31, 2025), Optimum Communications generated $1.2 billion of cash from operations (down 22.4%) and spent $1.3 billion on capital expenditures, leaving free cash flow of -$118.8 million, −1.4% of revenue. It returned $9.7 million to shareholders through dividends ($9.7 million) and net share buybacks ($0). Cash and equivalents rose by $884.6 million over the year.
Related: OPTU income statement, OPTU balance sheet. See the OPTU stock overview for the latest quote and news.
OPTU cash flow FAQ
What is Optimum Communications's free cash flow?
Optimum Communications's free cash flow was -$118.8 million in fiscal 2025: $1.2 billion of operating cash flow minus $1.3 billion of capital expenditures It was $149.4 million a year earlier..
How much cash does Optimum Communications generate from operations?
Optimum Communications generated $1.2 billion of cash from operating activities in fiscal 2025.
How much does Optimum Communications spend on capital expenditures?
Optimum Communications spent $1.3 billion on capital expenditures in fiscal 2025, 15.7% of revenue, compared with $1.4 billion the year before.
How much does Optimum Communications pay in dividends?
Optimum Communications paid $9.7 million in dividends in fiscal 2025.