Balchem (BCPC) Cash Flow: Operating & Free Cash Flow

Balchem (BCPC) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Balchem generated $216.56M of operating cash flow and spent $43.49M on capital expenditures. That left free cash flow of $173.07M, up 18.3% from $146.34M a year earlier, or 16.7% of revenue. It returned $135.92M to shareholders through $28.29M in dividends and $107.64M in share buybacks.

Balchem Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Balchem Corporation (BCPC) - 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	154.85	128.48	108.54	105.37	96.10	84.62	79.67	78.57	90.07
Depreciation & Amortization	45.69	47.97	54.94	51.85	48.88	51.28	45.86	44.67	44.38
Deferred Income Tax	6.26	-6.78	-10.81	-8.36	-5.94	-4.63	-3.56	-5.40	-28.78
Stock Based Compensation	18.06	16.68	16.05	13.22	10.80	8.30	7.60	6.41	6.26
Change in Working Capital	-7.46	-6.12	20.01	-25.22	10.93	8.53	-4.96	-4.01	-1.98
Change in Accounts Receivable	-20.85	5.58	6.97	-3.62	-20.70	-3.60	11.62	-7.77	-3.91
Change in Inventory	3.64	-22.79	10.53	-7.80	-21.02	13.92	-11.40	-6.02	-0.32
Change in Accounts Payable	11.29	9.07	3.55	-15.54	46.19	-3.85	1.13	5.99	1.51
Change in Other Working Capital	-1.54	2.61	-11.30	1.74	6.47	2.06	-6.32	3.79	0.73
Other Operating Activities	-0.84	-5.01	-11.30	1.68	-0.26	2.38	-0.15	-1.54	0.66
Net Cash from Operating Activities	216.56	182.00	183.76	138.54	160.51	150.49	124.46	118.70	110.62
Investing Activities
Capital Expenditures	-43.49	-35.66	-37.89	-50.29	-37.36	-33.83	-28.41	-19.72	-28.10
Acquisitions	-0.05	-24.16	-1.54	-365.78	-0.09	0.09	-141.06	-17.40	-17.39
Purchases of Investments	-0.35	-0.27	-0.29	0.00	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	2.74	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	0.09	4.33	0.06	1.83	-0.85	13.25	5.13	2.79
Net Cash from Investing Activities	-43.89	-59.74	-34.81	-416.01	-35.30	-34.59	-156.23	-31.99	-42.70
Financing Activities
Debt Repayment	-26.19	-145.57	-149.22	300.84	-60.16	-85.15	75.00	-63.52	-64.38
Common Stock Issued	9.31	17.23	5.24	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	-107.64	-5.68	-4.47	-35.42	-35.24	-13.46	-21.32	-1.39	-1.91
Dividends Paid	-28.29	-25.58	-22.87	-20.71	-18.72	-16.71	-15.14	-13.43	-12.07
Other Financing Activities	0.00	-0.22	-0.22	1.98	6.94	14.16	4.84	6.90	9.73
Net Cash from Financing Activities	-152.81	-133.82	-153.32	246.68	-102.18	-101.16	43.39	-71.45	-68.63
Summary
Effect of Forex Changes on Cash	5.20	-3.38	2.26	-5.88	-4.37	4.16	-0.22	-1.41	2.48
Net Change in Cash	25.06	-14.93	-2.11	-36.68	23.04	18.90	11.40	13.85	1.77
Cash at Beginning of Period	49.52	64.45	66.56	103.24	84.57	65.67	54.27	40.42	38.64
Cash at End of Period	74.57	49.52	64.45	66.56	103.24	84.57	65.67	54.27	40.42
Free Cash Flow	173.07	146.34	145.87	88.25	123.15	116.67	96.05	98.97	82.52
Supplemental Disclosures
Interest Paid	10.60	17.70	25.93	11.88	4.55	-	-	-	-
Income Taxes Paid	37.75	42.64	35.73	33.02	25.36	-	-	-	-

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

Frequently Asked Questions About Balchem Cash Flow

What is Balchem's free cash flow?

Balchem generated free cash flow of $173.07M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $216.56M minus $43.49M of capital expenditures. That was up 18.3% from $146.34M a year earlier. Free cash flow equaled 16.7% of revenue.

How much does Balchem spend on capital expenditures?

Balchem spent $43.49M on capital expenditures in fiscal 2025, compared with $35.66M a year earlier. That equals 20.1% of operating cash flow.

Does Balchem pay dividends or buy back shares?

Yes. In fiscal 2025 Balchem returned $28.29M in dividends and $107.64M 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