BP p.l.c. (BP) Cash Flow: Operating & Free Cash Flow

BP p.l.c. (BP) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), BP p.l.c. generated $24.49B of operating cash flow and spent $13.22B on capital expenditures. That left free cash flow of $11.27B, down 6.1% from $12.00B a year earlier, or 6.0% of revenue. It returned $9.54B to shareholders through $5.06B in dividends and $4.49B in share buybacks.

BP p.l.c. Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for BP p.l.c. (BP) - Annual data in billions 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	7.75	6.78	23.75	15.41	15.23	-24.89	8.15	16.72	7.18
Depreciation & Amortization	17.82	16.62	15.93	14.32	14.81	14.89	17.78	15.46	15.58
Stock Based Compensation	1.08	1.17	0.62	0.80	0.63	0.72	0.73	0.69	0.66
Change in Working Capital	-4.82	3.98	-3.34	-6.27	-0.63	-0.09	-2.92	-4.76	-3.35
Change in Inventory	1.62	0.81	5.63	-5.49	-7.46	3.96	-3.41	0.67	-0.85
Change in Other Working Capital	3.54	3.00	2.33	-0.78	6.83	-4.05	0.49	-5.44	-2.50
Other Operating Activities	3.54	3.00	2.33	16.68	-6.42	21.52	2.02	-5.23	-1.14
Net Cash from Operating Activities	24.49	27.30	32.04	40.93	23.61	12.16	25.77	22.87	18.93
Investing Activities
Capital Expenditures	-13.22	-15.30	-14.29	-12.07	-10.89	-12.31	-15.42	-16.71	-16.56
Acquisitions	-1.31	-0.99	-1.97	-2.42	3.85	3.24	-2.30	-6.47	-0.80
Purchases of Investments	-0.38	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.17	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.17	0.41	0.19	0.78	1.34	1.21	0.75	1.61	3.29
Net Cash from Investing Activities	-11.50	-13.25	-14.87	-13.71	-5.69	-7.86	-16.97	-21.57	-14.08
Financing Activities
Debt Repayment	-5.70	-2.97	-3.90	-11.08	-8.74	1.32	1.66	3.18	2.32
Common Stock Repurchased	-4.49	-7.13	-7.92	-10.00	-3.15	-0.78	-1.51	-0.36	-0.34
Dividends Paid	-5.06	-5.00	-4.81	-4.36	-4.30	-6.34	-6.95	-6.70	-6.15
Other Financing Activities	0.58	3.32	-0.47	-2.59	-1.88	9.75	-2.02	-0.21	0.88
Net Cash from Financing Activities	-15.88	-7.30	-13.36	-28.02	-18.08	3.96	-8.82	-4.08	-3.30
Summary
Effect of Forex Changes on Cash	0.25	-0.51	0.03	-0.68	-0.27	0.38	0.03	-0.33	0.54
Net Change in Cash	-2.65	6.24	3.84	-1.49	-0.43	8.64	0.00	-3.11	2.10
Cash at Beginning of Period	39.27	33.03	29.20	30.68	31.11	22.47	22.47	25.58	23.48
Cash at End of Period	36.62	39.27	33.03	29.20	30.68	31.11	22.47	22.47	25.59
Free Cash Flow	11.27	12.00	17.75	28.86	12.73	-0.14	10.35	6.17	2.37
Supplemental Disclosures
Interest Paid	-	2.81	2.95	2.21	2.47	-	-	-	-
Income Taxes Paid	6.59	8.76	10.17	10.11	4.18	-	-	-	-

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

Frequently Asked Questions About BP p.l.c. Cash Flow

What is BP p.l.c.'s free cash flow?

BP p.l.c. generated free cash flow of $11.27B in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $24.49B minus $13.22B of capital expenditures. That was down 6.1% from $12.00B a year earlier. Free cash flow equaled 6.0% of revenue.

How much does BP p.l.c. spend on capital expenditures?

BP p.l.c. spent $13.22B on capital expenditures in fiscal 2025, compared with $15.30B a year earlier. That equals 54.0% of operating cash flow.

Does BP p.l.c. pay dividends or buy back shares?

Yes. In fiscal 2025 BP p.l.c. returned $5.06B in dividends and $4.49B 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