Citizens Financial Services (CZFS) Cash Flow: Operating & Free Cash Flow

Citizens Financial Services (CZFS) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Citizens Financial Services generated $36.53M of operating cash flow and spent $1.30M on capital expenditures. That left free cash flow of $35.24M, up 10.6% from $31.87M a year earlier, or 31.4% of revenue. It returned $10.09M to shareholders through $9.55M in dividends and $545.00K in share buybacks.

Citizens Financial Services 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 Citizens Financial Services, Inc. (CZFS) - 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	36.57	27.82	17.81	29.06	29.12	25.10	19.49	18.03	13.03
Depreciation & Amortization	2.10	1.81	1.52	1.03	1.11	1.14	1.04	0.39	0.20
Deferred Income Tax	0.00	1.77	0.60	-0.04	0.69	0.37	0.32	-0.44	1.45
Stock Based Compensation	0.63	0.41	0.31	0.34	0.61	0.47	0.37	0.31	0.28
Change in Working Capital	-1.95	1.13	0.70	-1.58	0.46	-1.09	-0.09	-0.08	0.11
Change in Accounts Receivable	-0.39	0.74	-1.49	-2.10	0.76	-0.86	-0.10	-0.26	-0.03
Change in Accounts Payable	-1.56	0.40	2.18	0.52	-0.31	-0.24	0.01	0.18	0.15
Change in Other Working Capital	0.57	0.00	0.67	0.85	0.18	0.00	0.00	0.00	0.00
Other Operating Activities	-6.19	0.24	-3.45	0.85	-5.29	-14.17	0.64	3.27	0.68
Net Cash from Operating Activities	36.53	33.18	26.54	33.24	38.69	11.82	21.77	21.49	15.74
Investing Activities
Capital Expenditures	-1.30	-1.31	-2.62	-1.63	-1.11	-0.94	-0.48	-0.50	-0.21
Acquisitions	0.00	7.19	4.91	-1.12	0.00	1.02	0.00	0.00	-4.40
Purchases of Investments	0.00	-98.02	-39.37	-133.24	-214.91	-152.72	-80.55	-77.86	-62.91
Sales/Maturities of Investments	0.00	91.27	138.55	48.84	89.71	103.05	83.90	91.40	125.68
Other Investing Activities	-1.71	-68.19	-4.25	-275.30	-1.25	-61.14	-35.19	-85.39	-163.60
Net Cash from Investing Activities	-40.08	-69.07	59.47	-362.45	-158.23	-110.73	-32.32	-72.35	-105.43
Financing Activities
Debt Repayment	-42.00	-25.72	-34.57	-4.73	-26.80	-11.28	-6.08	-23.47	35.00
Common Stock Issued	0.07	0.00	0.03	0.11	0.00	0.00	0.00	0.00	0.04
Common Stock Repurchased	-0.55	-0.27	-0.27	-1.28	-1.37	-2.12	-1.29	-1.48	-0.98
Dividends Paid	-9.55	-9.30	-8.50	-7.59	-7.38	-6.54	-6.32	-6.12	-5.18
Other Financing Activities	-5.05	60.56	-56.09	8.06	247.29	169.04	25.96	80.21	61.60
Net Cash from Financing Activities	-4.37	25.28	-59.40	182.59	223.67	149.10	12.28	49.15	90.45
Summary
Net Change in Cash	-7.91	-10.62	26.61	-146.62	104.13	50.19	1.72	-1.72	0.76
Cash at Beginning of Period	42.20	52.82	26.21	172.83	68.71	18.52	16.80	18.52	17.75
Cash at End of Period	34.29	42.20	52.82	26.21	172.83	68.71	18.52	16.80	18.52
Free Cash Flow	35.24	31.87	23.92	31.61	37.59	10.88	21.28	20.99	15.53
Supplemental Disclosures
Interest Paid	-	67.47	44.68	10.70	7.41	-	-	-	-
Income Taxes Paid	-	2.50	5.10	6.60	5.50	-	-	-	-

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

Frequently Asked Questions About Citizens Financial Services Cash Flow

What is Citizens Financial Services's free cash flow?

Citizens Financial Services generated free cash flow of $35.24M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $36.53M minus $1.30M of capital expenditures. That was up 10.6% from $31.87M a year earlier. Free cash flow equaled 31.4% of revenue.

How much does Citizens Financial Services spend on capital expenditures?

Citizens Financial Services spent $1.30M on capital expenditures in fiscal 2025, compared with $1.31M a year earlier. That equals 3.5% of operating cash flow.

Does Citizens Financial Services pay dividends or buy back shares?

Yes. In fiscal 2025 Citizens Financial Services returned $9.55M in dividends and $545.00K 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