RGC Resources, Inc. (RGCO) Cash Flow Statement
Where RGCO’s cash came from and went, FY2025
September 30, 2025 · U.S. dollars- Cash from operations
- $28.9M +66.0% vs FY2024
- Capital expenditures
- $20.7M 21.7% of revenue
- Free cash flow
- $8.2M 8.6% margin
- Returned to shareholders
- $8.5M 103% of free cash flow
- Change in cash
- $1.4M cash at year-end $2.3M
Drawn to scale: where the cash came from and how it was used. Hover for values.
RGCO operating cash flow, capex and free cash flow
RGCO cash flow trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $14.9MFY2016 | $28.9MFY2025 | +7.6%/yr | |
| Capital expenditures | $17.9MFY2016 | $20.7MFY2025 | +1.6%/yr | |
| Free cash flow | −$3.0MFY2016 | $8.2MFY2025 | — | |
| Free cash flow margin | −5.1%FY2016 | 8.6%FY2025 | +13.7 pts | |
| Operating cash flow / net income | 2.57FY2016 | 2.18FY2025 | −0.39 | |
| Stock-based compensation | $64,640FY2016 | $673,057FY2025 | +29.7%/yr | |
| Dividends paid | $3.8MFY2016 | $8.5MFY2025 | +9.3%/yr | |
| Share buybacks (net) | $0FY2016 | $0FY2023 | — | |
| Capex / revenue | 30.4%FY2016 | 21.7%FY2025 | −8.6 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RGCO cash flow by activity
RGCO 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).
RGCO cash flow statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $13.3M | $11.8M | $11.3M | −$31.7M | $10.1M | $10.6M | $8.7M | $7.3M | $6.2M | $5.8M |
| Depreciation & amortization | $11.5M | $10.5M | $10.0M | $9.2M | $8.7M | $8.1M | $7.6M | $7.1M | $6.4M | $5.7M |
| Stock-based compensation | $673,057 | $711,924 | $21,560 | $16,330 | $11,100 | $81,380 | −$3.0M | −$938,531 | $73,780 | $64,640 |
| Change in working capital | $3.7M | −$741,712 | $5.8M | −$2.3M | −$4.8M | −$3.2M | $690,144 | −$576,302 | −$2.5M | −$721,578 |
| Other non-cash items | −$175,359 | −$4.8M | −$3.3M | $40.4M | −$2.4M | −$2.7M | $728,644 | $631,254 | $2.8M | $4.1M |
| Cash from operating activities | $28.9M | $17.4M | $23.8M | $15.6M | $11.6M | $12.8M | $14.7M | $13.5M | $13.0M | $14.9M |
| Investing activities | ||||||||||
| Capital expenditures | −$20.7M | −$22.1M | −$25.3M | −$25.5M | −$20.0M | −$22.9M | −$21.9M | −$23.3M | −$20.8M | −$17.9M |
| Investments (net) | — | −$22.0M | −$30.4M | −$5.3M | −$6.0M | −$30.7M | −$42.8M | −$34.2M | −$23.5M | −$21.0M |
| Acquisitions & other investing | −$3,475 | $22.1M | $28.3M | $105,985 | $147,090 | $22.9M | $21.9M | $23.3M | $20.8M | $17.9M |
| Cash from investing activities | −$20.7M | −$22.0M | −$27.4M | −$30.6M | −$25.8M | −$30.7M | −$42.8M | −$34.2M | −$23.5M | −$21.0M |
| Financing activities | ||||||||||
| Dividends paid | −$8.5M | −$8.1M | −$7.8M | −$7.0M | −$6.0M | −$5.6M | −$5.2M | −$4.6M | −$4.1M | −$3.8M |
| Share repurchases & issuance (net) | — | — | $34.3M | $29.0M | $55.2M | $43.8M | $90.0M | $49.2M | $52.5M | $41.7M |
| Net borrowing (repayment) | $99,794 | $7.5M | $4.2M | −$3.5M | $16.6M | $20.4M | $33.0M | $9.0M | $13.1M | $8.5M |
| Shares issued | $1.8M | $4.7M | $3.9M | $29.0M | $4.9M | $1.8M | $1.7M | $16.5M | $0 | $0 |
| Other financing | −$184,300 | −$101,206 | −$34.4M | −$29.0M | −$55.2M | −$43.8M | −$90.0M | −$49.2M | −$51.5M | −$40.7M |
| Cash from financing activities | −$6.8M | $4.0M | $218,935 | $18.4M | $15.5M | $16.6M | $29.5M | $20.8M | $9.9M | $5.7M |
| Summary | ||||||||||
| Net change in cash | $1.4M | −$618,246 | −$3.4M | $3.4M | $1.2M | −$1.3M | $1.4M | $177,771 | −$573,612 | −$341,982 |
| Cash at end of period | $2.3M | $894,185 | $1.5M | $4.9M | $1.5M | $291,066 | $1.6M | $247,411 | $69,640 | $643,252 |
| Free cash flow | $8.2M | −$4.7M | −$1.5M | −$9.9M | −$8.4M | −$10.1M | −$7.2M | −$9.8M | −$7.8M | −$3.0M |
| Free cash flow margin | 8.6% | −5.5% | −1.5% | −11.8% | −11.2% | −16.0% | −10.6% | −14.9% | −12.5% | −5.1% |
| Capex / revenue | 21.7% | 26.1% | 26.0% | 30.3% | 26.6% | 36.3% | 32.2% | 35.5% | 33.3% | 30.4% |
| Operating cash flow / net income | 2.18 | 1.48 | 2.11 | — | 1.15 | 1.21 | 1.69 | 1.85 | 2.08 | 2.57 |
| 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 | $558,900 | $8.7M | $4.9M | −$204,339 | $538,412 | $7.7M | $5.3M | $140,822 | $156,692 | $6.4M | $5.0M | $1.0M |
| Depreciation & amortization | $3.1M | $3.1M | $3.1M | $2.9M | $2.9M | $2.9M | $2.8M | $2.2M | $2.8M | $2.8M | $2.8M | $2.6M |
| Stock-based compensation | $121,407 | $373,984 | $112,734 | $112,734 | $112,734 | $330,976 | $116,613 | $660,424 | $125,193 | $426,961 | $43,157 | −$21,560 |
| Change in working capital | $2.1M | $3.5M | −$6.7M | −$2.1M | $2.9M | $10.1M | −$7.2M | −$1.3M | $3.3M | $3.5M | −$6.8M | $6.7M |
| Other non-cash items | $109,587 | −$331,151 | −$272,258 | −$24,925 | −$27,324 | $39,182 | −$162,292 | −$1.4M | −$475,122 | −$1.4M | −$1.6M | −$10.1M |
| Cash from operating activities | $5.9M | $15.4M | $1.1M | $675,133 | $6.4M | $21.0M | $827,190 | $377,439 | $5.9M | $11.8M | −$564,347 | $162,421 |
| Investing activities | ||||||||||||
| Capital expenditures | −$6.3M | −$4.2M | −$5.6M | −$5.0M | −$5.0M | −$4.9M | −$5.7M | −$5.5M | −$5.3M | −$6.0M | −$5.3M | −$5.9M |
| Investments (net) | — | — | — | — | −$5.0M | −$5.0M | −$5.8M | −$5.5M | −$5.3M | −$6.0M | −$5.3M | −$5.9M |
| Acquisitions & other investing | −$282,980 | −$159,369 | −$542,168 | $14,024 | $5.0M | $4.9M | $5.7M | $5.5M | $5.3M | $6.0M | $5.3M | $5.9M |
| Cash from investing activities | −$6.5M | −$4.3M | −$6.2M | −$5.0M | −$5.0M | −$5.0M | −$5.8M | −$5.5M | −$5.3M | −$6.0M | −$5.3M | −$5.9M |
| Financing activities | ||||||||||||
| Dividends paid | −$2.3M | −$2.3M | −$2.1M | −$2.1M | −$2.1M | −$2.1M | −$2.1M | −$2.0M | −$2.0M | −$2.0M | −$2.0M | −$2.0M |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | — | $8.0M | −$1.8M |
| Net borrowing (repayment) | $1.7M | −$9.1M | $7.2M | $6.5M | $427,262 | −$14.8M | $7.9M | $4.3M | $1.7M | — | — | — |
| Shares issued | $297,956 | $1.0M | $383,538 | $291,378 | $295,633 | $909,433 | $268,817 | $1.2M | $284,938 | $2.4M | $821,324 | $276,679 |
| Other financing | −$20,908 | −$940 | $0 | −$182,988 | $688 | −$2,000 | −$1 | −$1,816 | −$66,123 | −$7.0M | $357,756 | $5.6M |
| Cash from financing activities | −$312,086 | −$10.3M | $5.4M | $4.5M | −$1.4M | −$16.0M | $6.1M | $3.5M | −$68,760 | −$6.6M | $7.2M | $2.1M |
| Summary | ||||||||||||
| Net change in cash | −$918,559 | $735,952 | $335,665 | $193,480 | −$25,882 | $54,408 | $1.2M | −$1.6M | $521,910 | −$845,554 | $1.4M | −$3.7M |
| Cash at end of period | $2.5M | $3.4M | $2.7M | $2.3M | $2.1M | $2.2M | $2.1M | $894,185 | $2.5M | $2.0M | $2.9M | $1.5M |
| Free cash flow | −$323,493 | $11.2M | −$4.6M | −$4.3M | $1.4M | $16.1M | −$4.9M | −$5.1M | $564,739 | $5.8M | −$5.9M | −$5.8M |
| Free cash flow margin | −1.9% | 24.7% | −15.1% | −30.1% | 8.1% | 44.1% | −18.0% | −39.3% | 3.9% | 17.7% | −24.0% | −46.3% |
| Capex / revenue | 36.6% | 9.2% | 18.6% | 34.9% | 29.2% | 13.6% | 21.1% | 42.2% | 36.6% | 18.3% | 21.7% | 47.6% |
| Operating cash flow / net income | 10.62 | 1.76 | 0.22 | — | 11.96 | 2.74 | 0.16 | 2.68 | 37.36 | 1.83 | −0.11 | 0.16 |
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.
RGCO cash generation
In fiscal 2025 (ended September 30, 2025), RGC Resources generated $28.9 million of cash from operations (up 66.0%) and spent $20.7 million on capital expenditures, leaving free cash flow of $8.2 million, 8.6% of revenue. It returned $8.5 million to shareholders through dividends ($8.5 million) and net share buybacks ($0). Cash and equivalents rose by $1.4 million over the year.
Related: RGCO income statement, RGCO balance sheet, RGCO dividend history. See the RGCO stock overview for the latest quote and news.
RGCO cash flow FAQ
What is RGC Resources's free cash flow?
RGC Resources's free cash flow was $8.2 million in fiscal 2025: $28.9 million of operating cash flow minus $20.7 million of capital expenditures It was -$4.7 million a year earlier..
How much cash does RGC Resources generate from operations?
RGC Resources generated $28.9 million of cash from operating activities in fiscal 2025, 2.18 times its net income of $13.3 million.
How much does RGC Resources spend on capital expenditures?
RGC Resources spent $20.7 million on capital expenditures in fiscal 2025, 21.7% of revenue, compared with $22.1 million the year before.
How much does RGC Resources pay in dividends?
RGC Resources paid $8.5 million in dividends in fiscal 2025, 103.1% of free cash flow.