Value Line, Inc. (VALU) Cash Flow Statement
Where VALU’s cash came from and went, FY2026
April 30, 2026 · U.S. dollars- Cash from operations
- $18.6M −8.2% vs FY2025
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- $18.6M 55.6% margin
- Returned to shareholders
- $13.2M 71% of free cash flow
- Change in cash
- −$9.9M cash at year-end $24.5M
Drawn to scale: where the cash came from and how it was used. Hover for values.
VALU operating cash flow, capex and free cash flow
VALU cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $4.0MFY2017 | $18.6MFY2026 | +18.5%/yr | |
| Capital expenditures | $1.7MFY2017 | $0FY2026 | −100.0% | |
| Free cash flow | $2.4MFY2017 | $18.6MFY2026 | +25.8%/yr | |
| Free cash flow margin | 6.8%FY2017 | 55.6%FY2026 | +48.8 pts | |
| Operating cash flow / net income | 0.39FY2017 | 0.86FY2026 | +0.47 | |
| Stock-based compensation | −$15.8MFY2017 | $498,000FY2023 | — | |
| Dividends paid | $6.6MFY2017 | $12.2MFY2026 | +7.1%/yr | |
| Share buybacks (net) | $741,000FY2017 | $928,000FY2026 | +2.5%/yr | |
| Capex / revenue | 4.9%FY2017 | 0.0%FY2026 | −4.9 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
VALU cash flow by activity
VALU 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).
VALU cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $21.6M | $20.7M | $19.0M | $18.1M | $23.8M | $23.3M | $15.7M | $11.2M | $14.7M | $10.4M |
| Depreciation & amortization | $1.3M | $1.3M | $1.4M | $1.3M | $1.3M | $1.3M | $266,000 | $367,000 | $1.1M | $4.6M |
| Stock-based compensation | — | — | — | $498,000 | −$372,000 | −$6.5M | $41,000 | — | −$8.9M | −$15.8M |
| Change in working capital | −$1.1M | $440,000 | $405,000 | −$1.3M | $587,000 | −$1.2M | −$2.6M | −$54,000 | $842,000 | −$1.3M |
| Other non-cash items | −$3.3M | −$2.2M | −$2.9M | −$397,000 | −$727,000 | −$419,000 | $366,000 | $368,000 | $2.1M | $6.2M |
| Cash from operating activities | $18.6M | $20.2M | $17.9M | $18.2M | $24.6M | $16.4M | $13.7M | $11.8M | $9.9M | $4.0M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | −$178,000 | −$77,000 | −$140,000 | −$11,000 | −$178,000 | −$2,000 | −$122,000 | −$408,000 | −$1.7M |
| Investments (net) | −$15.3M | $21.2M | −$10.0M | −$28.9M | −$7.9M | $7.6M | −$8.7M | −$2.9M | −$832,000 | −$12.9M |
| Acquisitions & other investing | $0 | $178,000 | $77,000 | $3.0M | $4.5M | $0 | $0 | −$337,000 | $0 | $11.8M |
| Cash from investing activities | −$15.3M | $21.2M | −$10.0M | −$26.1M | −$3.4M | $7.4M | −$8.7M | −$3.3M | −$1.2M | −$2.8M |
| Financing activities | ||||||||||
| Dividends paid | −$12.2M | −$11.3M | −$10.6M | −$9.5M | −$8.4M | −$8.1M | −$7.7M | −$7.4M | −$8.9M | −$6.6M |
| Share repurchases & issuance (net) | −$928,000 | −$453,000 | −$523,000 | −$4.7M | −$2.5M | −$1.5M | −$1.2M | −$608,000 | −$354,000 | −$741,000 |
| Net borrowing (repayment) | — | — | — | — | $0 | −$588,000 | $2.3M | $2.9M | $2.9M | $2.9M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | $0 | $0 | $608,000 | −$20,000 | −$2.9M | −$2.9M | −$2.9M |
| Cash from financing activities | −$13.2M | −$11.8M | −$11.1M | −$14.2M | −$10.9M | −$9.6M | −$6.6M | −$8.0M | −$9.3M | −$7.4M |
| Summary | ||||||||||
| Net change in cash | −$9.9M | $29.7M | −$3.2M | −$22.1M | $10.4M | $14.2M | −$1.5M | $552,000 | −$616,000 | −$6.1M |
| Cash at end of period | $24.5M | $34.4M | $4.7M | $7.9M | $30.0M | $19.6M | $5.4M | $7.0M | $6.4M | $7.0M |
| Free cash flow | $18.6M | $20.0M | $17.9M | $18.0M | $24.6M | $16.2M | $13.7M | $11.7M | $9.5M | $2.4M |
| Free cash flow margin | 55.6% | 57.0% | 47.6% | 45.4% | 60.8% | 40.2% | 34.1% | 32.3% | 26.5% | 6.8% |
| Capex / revenue | 0.0% | 0.5% | 0.2% | 0.4% | 0.0% | 0.4% | 0.0% | 0.3% | 1.1% | 4.9% |
| Operating cash flow / net income | 0.86 | 0.98 | 0.94 | 1.01 | 1.03 | 0.70 | 0.88 | 1.06 | 0.67 | 0.39 |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $4.7M | $2.6M | $5.9M | $5.7M | $6.5M | $4.0M | $5.2M | $5.7M | $5.9M | $4.8M | $5.9M | $3.5M |
| Depreciation & amortization | $321,000 | $324,000 | $322,000 | $318,000 | $331,000 | $312,000 | $365,000 | $300,000 | $294,000 | $355,000 | $363,000 | $343,000 |
| Stock-based compensation | — | — | — | — | — | — | — | — | — | — | $2.5M | $1.5M |
| Change in working capital | $214,000 | $924,000 | $32,000 | −$2.5M | $447,000 | $858,000 | $1.6M | $246,000 | −$246,000 | −$397,000 | $4.2M | −$4.3M |
| Other non-cash items | −$485,000 | $900,000 | −$975,000 | −$558,000 | −$1.7M | $419,000 | −$306,000 | −$3.2M | −$1.2M | −$979,000 | −$4.5M | −$391,000 |
| Cash from operating activities | $4.7M | $4.8M | $5.3M | $3.0M | $5.6M | $5.5M | $6.9M | $3.1M | $4.8M | $3.8M | $8.4M | $705,000 |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | $0 | $0 | $0 | −$4,000 | −$152,000 | −$4,000 | −$4,000 | −$44,000 | −$14,000 | $0 |
| Investments (net) | −$9.5M | −$24.0M | $1.3M | $10.2M | −$2.8M | $4.7M | $11.6M | −$4.6M | $9.5M | −$2.3M | −$3.9M | −$3.5M |
| Acquisitions & other investing | $0 | $0 | $0 | $0 | $0 | $4,000 | $152,000 | $4,000 | $4,000 | $44,000 | $14,000 | $0 |
| Cash from investing activities | −$9.5M | −$24.0M | $1.3M | $10.2M | −$2.8M | $4.7M | $11.6M | −$4.6M | $9.5M | −$2.3M | −$3.9M | −$3.5M |
| Financing activities | ||||||||||||
| Dividends paid | −$3.3M | −$3.1M | −$3.1M | −$3.1M | −$3.1M | −$2.8M | −$2.8M | −$2.8M | −$2.8M | −$2.6M | −$2.6M | −$2.6M |
| Share repurchases & issuance (net) | −$100,000 | −$62,000 | −$647,000 | −$160,000 | −$59,000 | −$179,000 | −$96,000 | $1,000 | −$179,000 | −$185,000 | $0 | −$150,000 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash from financing activities | −$3.4M | −$3.1M | −$3.7M | −$3.2M | −$3.1M | −$3.0M | −$2.9M | −$2.8M | −$3.0M | −$2.8M | −$2.6M | −$2.8M |
| Summary | ||||||||||||
| Net change in cash | −$8.2M | −$22.3M | $2.9M | $9.9M | −$369,000 | $7.3M | $15.5M | −$4.3M | $11.2M | −$1.4M | $1.9M | −$5.6M |
| Cash at end of period | $16.3M | $24.5M | $46.8M | $43.9M | $34.0M | $34.1M | $27.1M | $11.6M | $15.9M | $4.7M | $6.1M | $4.2M |
| Free cash flow | $4.7M | $4.8M | $5.3M | $3.0M | $5.6M | $5.5M | $6.7M | $3.1M | $4.8M | $3.7M | $8.4M | $705,000 |
| Free cash flow margin | 58.4% | 59.7% | 63.9% | 34.5% | 64.6% | 66.0% | 74.8% | 34.8% | 53.7% | 41.3% | 91.7% | 7.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.7% | 0.0% | 0.0% | 0.5% | 0.2% | 0.0% |
| Operating cash flow / net income | 1.01 | 1.82 | 0.89 | 0.52 | 0.86 | 1.40 | 1.33 | 0.54 | 0.81 | 0.79 | 1.43 | 0.20 |
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.
VALU cash generation
In fiscal 2026 (ended April 30, 2026), Value Line generated $18.6 million of cash from operations (down 8.2%) and spent $0 on capital expenditures, leaving free cash flow of $18.6 million, 55.6% of revenue. It returned $13.2 million to shareholders through dividends ($12.2 million) and net share buybacks ($0.9 million). Cash and equivalents fell by $9.9 million over the year.
Related: VALU income statement, VALU balance sheet, VALU dividend history. See the VALU stock overview for the latest quote and news.
VALU cash flow FAQ
What is Value Line's free cash flow?
Value Line's free cash flow was $18.6 million in fiscal 2026: $18.6 million of operating cash flow minus $0 of capital expenditures It was $20.0 million a year earlier..
How much cash does Value Line generate from operations?
Value Line generated $18.6 million of cash from operating activities in fiscal 2026, 0.86 times its net income of $21.6 million.
How much stock does Value Line buy back?
Value Line spent $0.9 million on net share repurchases in fiscal 2026.
How much does Value Line pay in dividends?
Value Line paid $12.2 million in dividends in fiscal 2026, 65.8% of free cash flow.