Centerra Gold (CGAU) Cash Flow: Operating & Free Cash Flow

Centerra Gold (CGAU) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Centerra Gold generated $352.67M of operating cash flow and spent $258.05M on capital expenditures. That left free cash flow of $94.62M, down 31.7% from $138.61M a year earlier, or 6.8% of revenue. It returned $137.16M to shareholders through $41.84M in dividends and $95.33M in share buybacks.

Centerra Gold 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 Centerra Gold Inc. (CGAU) - 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	583.99	80.39	-81.28	-77.21	446.95	408.54	-93.51	113.47	209.53
Depreciation & Amortization	115.64	130.66	123.27	103.43	126.37	104.30	480.51	160.67	233.00
Deferred Income Tax	49.08	93.66	94.91	32.78	-44.02	7.71	-7.07	-14.65	-18.20
Stock Based Compensation	21.66	5.20	10.00	0.77	1.36	20.35	19.77	3.80	7.49
Change in Working Capital	-41.00	27.01	43.24	-64.03	-12.77	77.36	-64.31	-120.17	-11.69
Change in Accounts Receivable	-75.58	0.74	6.77	-13.65	-6.52	46.44	-35.84	5.88	-14.40
Change in Inventory	-92.08	7.34	40.23	-76.40	-21.40	53.07	-67.91	-81.66	-35.08
Change in Accounts Payable	119.25	26.96	-10.93	30.96	16.55	-5.83	40.25	-15.81	44.53
Change in Other Working Capital	7.40	-91.64	53.24	-119.66	27.46	-16.32	-0.82	-28.58	-6.75
Other Operating Activities	-376.69	173.78	53.24	90.69	27.46	311.76	-1.23	74.38	80.76
Net Cash from Operating Activities	352.67	298.40	245.60	-1.98	414.76	930.02	334.15	217.49	500.90
Investing Activities
Capital Expenditures	-258.05	-159.79	-85.31	-257.67	-92.50	-326.24	-299.44	-285.87	-266.85
Acquisitions	-1.80	0.00	-31.50	-176.74	210.29	0.00	0.00	-191.80	9.80
Purchases of Investments	-49.38	-7.35	0.00	0.00	210.29	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	0.00	4.37	0.00	0.00	0.00
Other Investing Activities	0.00	-27.02	1.52	2.03	-96.08	18.49	-10.21	125.56	246.43
Net Cash from Investing Activities	-309.24	-193.20	-90.29	-255.64	36.43	-303.38	-309.65	-352.12	-10.63
Financing Activities
Debt Repayment	-11.06	-9.79	-11.01	-6.76	-6.48	-83.51	-132.14	-106.00	-208.36
Common Stock Issued	5.51	3.89	2.06	3.48	5.04	7.79	7.95	1.00	0.00
Common Stock Repurchased	-95.33	-44.05	-20.42	-104.50	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-41.84	-43.51	-44.91	-47.67	-45.04	-39.76	0.00	0.00	0.00
Other Financing Activities	1.87	-2.12	-4.21	-2.26	-2.65	-8.52	-9.29	-25.23	-26.11
Net Cash from Financing Activities	-140.85	-93.47	-74.28	-157.69	-49.14	-123.99	-133.49	-129.56	-234.47
Summary
Effect of Forex Changes on Cash	-28.83	0.00	0.00	0.00	0.00	-0.19	0.00	0.00	0.00
Net Change in Cash	-126.25	11.73	81.03	-415.31	402.05	502.46	-108.99	-264.19	255.80
Cash at Beginning of Period	654.22	612.94	531.92	947.23	545.18	42.72	151.71	415.89	160.09
Cash at End of Period	527.97	624.67	612.94	531.92	947.23	545.18	42.72	151.71	415.89
Free Cash Flow	94.62	138.61	160.29	-259.65	322.26	603.78	34.71	-68.38	234.04
Supplemental Disclosures
Interest Paid	2.03	2.12	4.21	2.26	2.65	-	-	-	-
Income Taxes Paid	88.91	109.11	44.20	55.63	17.18	-	-	-	-

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

Frequently Asked Questions About Centerra Gold Cash Flow

What is Centerra Gold's free cash flow?

Centerra Gold generated free cash flow of $94.62M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $352.67M minus $258.05M of capital expenditures. That was down 31.7% from $138.61M a year earlier. Free cash flow equaled 6.8% of revenue.

How much does Centerra Gold spend on capital expenditures?

Centerra Gold spent $258.05M on capital expenditures in fiscal 2025, compared with $159.79M a year earlier. That equals 73.2% of operating cash flow.

Does Centerra Gold pay dividends or buy back shares?

Yes. In fiscal 2025 Centerra Gold returned $41.84M in dividends and $95.33M 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