Ardmore Shipping (ASC) Cash Flow: Operating & Free Cash Flow

Ardmore Shipping Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Ardmore Shipping Corporation (ASC) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	41.01	133.01	116.81	138.45	-36.83	-6.05	-22.86	-42.94	-12.49
Depreciation & Amortization	33.85	33.88	31.36	33.44	36.87	32.19	32.32	35.14	34.27
Deferred Income Tax	0.00	0.00	0.00	0.00	0.00	6.67	13.09	6.16	0.00
Stock Based Compensation	2.81	4.65	3.22	3.06	2.61	3.00	2.33	1.64	0.46
Change in Working Capital	12.28	4.10	17.92	-56.02	-1.82	9.32	-6.39	8.14	-6.00
Change in Accounts Receivable	13.33	-4.64	23.61	-59.56	-2.50	12.27	-2.62	-0.20	-4.12
Change in Inventory	2.40	1.25	3.16	-4.62	-0.82	-0.12	2.65	-3.18	-2.29
Change in Accounts Payable	-1.00	4.05	-4.41	-1.61	1.15	2.54	-3.88	8.51	1.66
Change in Other Working Capital	-9.08	3.87	-4.44	0.38	-0.86	-5.38	-2.54	3.01	-1.24
Other Operating Activities	-9.08	-15.19	-9.69	5.28	-3.72	0.96	1.98	1.29	2.17
Net Cash from Operating Activities	81.65	160.45	159.61	124.21	-2.89	46.09	20.47	9.43	18.42
Investing Activities
Capital Expenditures	-120.72	-61.02	-25.38	-3.81	-2.63	-20.90	-2.60	-17.41	-2.02
Acquisitions	0.00	1.65	-1.24	-0.59	-5.54	0.00	26.67	0.00	0.00
Purchases of Investments	0.00	1.65	0.00	-0.59	-5.54	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	1.65	0.00	-0.59	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-0.28	-0.43	-0.21	-0.11	-0.09	-0.09	-0.18	-0.15	-0.26
Net Cash from Investing Activities	-121.00	-32.97	-26.84	35.41	1.63	-20.99	23.89	-17.56	-2.28
Financing Activities
Debt Repayment	-94.94	-43.94	-85.98	-328.50	-86.87	-16.29	-47.25	21.98	-20.54
Common Stock Issued	0.00	0.00	0.00	38.91	37.99	0.00	0.00	7.33	0.00
Common Stock Repurchased	-30.00	-17.94	0.00	0.00	-37.99	-0.29	0.00	0.00	-11.26
Dividends Paid	-15.34	-45.08	-50.55	-3.29	-0.79	-1.66	0.00	0.00	0.00
Other Financing Activities	0.00	-0.20	0.00	-3.51	-0.98	-0.22	-2.30	-3.74	-0.83
Net Cash from Financing Activities	39.21	-127.29	-136.54	-164.50	-1.66	-18.46	-49.55	25.58	-32.63
Summary
Net Change in Cash	-0.14	0.18	-3.76	-4.88	-2.92	6.64	-5.18	17.45	-16.50
Cash at Beginning of Period	46.99	46.81	50.57	55.45	58.37	51.72	56.90	39.46	55.95
Cash at End of Period	46.85	46.99	46.81	50.57	55.45	58.37	51.72	56.90	39.46
Free Cash Flow	-39.07	99.43	134.23	120.40	-5.52	25.19	17.87	-7.98	16.40
Supplemental Disclosures
Interest Paid	-	6.05	11.68	17.30	14.30	-	-	-	-
Income Taxes Paid	-	0.11	0.54	0.05	0.20	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Ardmore Shipping Cash Flow

What is Ardmore Shipping's free cash flow?

Ardmore Shipping had negative free cash flow of $39.07M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $81.65M minus $120.72M of capital expenditures.

How much does Ardmore Shipping spend on capital expenditures?

Ardmore Shipping spent $120.72M on capital expenditures in fiscal 2025, compared with $61.02M a year earlier. That equals 147.9% of operating cash flow.

Does Ardmore Shipping pay dividends or buy back shares?

Yes. In fiscal 2025 Ardmore Shipping returned $15.34M in dividends and $30.00M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition