Bright Horizons Family Solutions (BFAM) Cash Flow: Operating & Free Cash Flow

Bright Horizons Family Solutions (BFAM) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Bright Horizons Family Solutions generated $347.68M of operating cash flow and spent $91.32M on capital expenditures. That left free cash flow of $256.36M, up 6.8% from $240.15M a year earlier, or 8.7% of revenue. It repurchased $225.41M of its own shares.

Bright Horizons Family Solutions 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 Bright Horizons Family Solutions Inc. (BFAM) - 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	193.12	140.19	74.22	80.64	70.46	26.99	180.39	157.98	156.96
Depreciation & Amortization	93.40	97.92	110.68	106.14	108.83	111.66	108.27	100.94	94.78
Deferred Income Tax	-2.28	-9.93	-11.72	-9.64	-5.00	-12.28	-11.34	-5.47	-37.56
Stock Based Compensation	30.61	33.62	28.83	28.11	23.06	21.00	17.28	13.81	12.07
Change in Working Capital	-14.80	34.29	5.72	-40.18	7.05	30.44	36.31	23.66	-0.64
Change in Accounts Receivable	0.00	-0.99	-64.50	-4.88	-34.62	-27.47	-15.72	-14.50	-18.69
Change in Inventory	0.00	0.00	0.00	0.00	-6.24	10.82	8.20	10.17	2.82
Change in Accounts Payable	0.00	30.64	26.00	19.96	6.24	23.00	9.03	15.91	5.91
Change in Other Working Capital	-14.80	-28.25	12.50	-8.91	41.67	24.10	34.80	12.07	9.32
Other Operating Activities	47.63	31.45	12.50	13.75	22.85	31.76	-0.56	3.82	10.66
Net Cash from Operating Activities	347.68	337.46	256.14	188.47	227.25	209.57	330.35	294.75	236.27
Investing Activities
Capital Expenditures	-91.32	-97.31	-91.02	-70.56	-63.49	-84.74	-104.77	-91.43	-83.84
Acquisitions	-6.78	-8.27	-39.63	-210.41	-53.90	-8.25	-59.29	-67.11	-21.48
Purchases of Investments	-19.74	-52.60	-16.05	-25.11	-29.91	-25.71	-25.02	-0.77	0.00
Sales/Maturities of Investments	14.04	38.38	19.54	23.39	24.08	22.97	3.00	-1.06	0.00
Other Investing Activities	0.00	2.04	0.23	-5.92	5.83	11.91	-3.00	1.83	0.00
Net Cash from Investing Activities	-103.79	-117.76	-126.94	-278.05	-117.39	-83.83	-189.07	-158.54	-105.32
Financing Activities
Debt Repayment	-1.55	-173.50	-502.50	-16.00	-42.39	-10.75	-128.61	-19.65	43.04
Common Stock Issued	12.06	27.01	11.18	13.24	37.50	249.79	0.00	22.93	26.99
Common Stock Repurchased	-225.41	-84.60	-2.59	-188.71	-213.83	-32.66	-31.55	-126.68	-162.20
Other Financing Activities	-15.47	-109.22	-2.82	-13.87	-11.31	22.61	11.03	12.14	-4.71
Net Cash from Financing Activities	-230.38	-183.81	-91.63	-121.34	-230.03	229.00	-149.13	-134.19	-123.86
Summary
Effect of Forex Changes on Cash	5.02	-1.62	-0.01	-2.47	-3.02	2.53	0.56	-0.10	1.51
Net Change in Cash	18.52	34.26	37.56	-213.39	-123.18	357.27	-7.29	1.91	8.59
Cash at Beginning of Period	121.57	89.45	51.89	265.28	388.47	31.19	38.48	36.57	14.63
Cash at End of Period	140.09	123.72	89.45	51.89	265.28	388.47	31.19	38.48	23.23
Free Cash Flow	256.36	240.15	165.12	117.92	163.76	124.83	225.59	203.32	152.44
Supplemental Disclosures
Interest Paid	-	73.90	74.00	40.87	32.24	-	-	-	-
Income Taxes Paid	-	75.65	58.74	50.20	31.66	-	-	-	-

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

Frequently Asked Questions About Bright Horizons Family Solutions Cash Flow

What is Bright Horizons Family Solutions's free cash flow?

Bright Horizons Family Solutions generated free cash flow of $256.36M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $347.68M minus $91.32M of capital expenditures. That was up 6.8% from $240.15M a year earlier. Free cash flow equaled 8.7% of revenue.

How much does Bright Horizons Family Solutions spend on capital expenditures?

Bright Horizons Family Solutions spent $91.32M on capital expenditures in fiscal 2025, compared with $97.31M a year earlier. That equals 26.3% of operating cash flow.

Does Bright Horizons Family Solutions pay dividends or buy back shares?

Yes. In fiscal 2025 Bright Horizons Family Solutions returned $225.41M 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