First Capital (FCAP) Cash Flow: Operating & Free Cash Flow

First Capital (FCAP) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), First Capital generated $21.28M of operating cash flow and spent $1.35M on capital expenditures. That left free cash flow of $19.93M, down 7.8% from $21.63M a year earlier, or 40.3% of revenue. It returned $4.61M to shareholders through $4.04M in dividends and $578.00K in share buybacks.

First Capital 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 First Capital, Inc. (FCAP) - 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	16.38	11.94	12.79	11.92	11.44	10.14	10.34	9.27	7.45
Depreciation & Amortization	1.09	1.10	1.03	1.07	1.14	1.20	1.07	1.22	1.23
Deferred Income Tax	2.31	1.65	1.29	0.24	0.22	0.26	0.84	-0.07	0.35
Stock Based Compensation	0.10	0.20	0.25	0.44	0.49	0.38	0.29	0.19	0.09
Change in Working Capital	0.60	4.26	-4.10	-2.11	1.24	-0.33	-0.61	-0.82	-0.41
Change in Accounts Receivable	-0.53	0.21	-0.50	-0.86	0.00	-0.36	-0.25	-0.13	-0.33
Change in Accounts Payable	0.27	0.71	1.09	0.03	-0.06	-0.06	0.06	0.04	-0.03
Change in Other Working Capital	-0.25	3.33	-4.68	-1.28	7.97	0.08	-0.42	-0.73	-0.05
Other Operating Activities	-0.25	3.20	2.90	4.98	7.97	0.41	2.15	3.56	4.71
Net Cash from Operating Activities	21.28	22.35	14.16	16.53	21.63	12.06	14.08	13.35	13.42
Investing Activities
Capital Expenditures	-1.35	-0.72	-0.63	-0.42	-0.29	-0.60	-2.97	-0.40	-1.27
Purchases of Investments	-142.25	-63.57	-39.53	-99.43	-254.69	-105.77	-70.46	-40.37	-48.89
Sales/Maturities of Investments	84.98	82.20	58.79	7.92	43.96	32.65	52.30	17.67	7.16
Other Investing Activities	-3.60	11.10	-42.58	-52.11	54.55	11.31	0.03	1.00	2.58
Net Cash from Investing Activities	-41.83	29.01	-23.95	-144.03	-156.46	-62.41	-21.11	-22.10	-40.42
Financing Activities
Debt Repayment	0.00	-21.50	21.50	0.00	0.00	0.00	0.00	-10.00	10.00
Common Stock Repurchased	-0.58	-0.04	-0.50	-0.03	-0.04	-0.01	0.00	-0.03	-0.02
Dividends Paid	-4.04	-3.77	-3.63	-3.52	-3.52	-3.26	-3.21	-3.10	-2.88
Other Financing Activities	-0.02	41.21	-35.21	24.83	-0.09	-0.13	20.49	37.08	-0.09
Net Cash from Financing Activities	51.92	15.90	-17.84	21.29	131.45	174.88	17.28	23.95	7.01
Summary
Net Change in Cash	31.37	67.25	-27.63	-106.21	-3.38	124.53	10.25	15.20	-19.99
Cash at Beginning of Period	105.92	38.67	66.30	172.51	175.89	51.36	41.11	25.92	45.91
Cash at End of Period	137.29	105.92	38.67	66.30	172.51	175.89	51.36	41.11	25.92
Free Cash Flow	19.93	21.63	13.54	16.12	21.34	11.46	11.10	12.95	12.15
Supplemental Disclosures
Interest Paid	-	13.97	7.93	1.57	1.18	-	-	-	-
Income Taxes Paid	-	0.15	1.83	2.33	1.97	-	-	-	-

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

Frequently Asked Questions About First Capital Cash Flow

What is First Capital's free cash flow?

First Capital generated free cash flow of $19.93M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $21.28M minus $1.35M of capital expenditures. That was down 7.8% from $21.63M a year earlier. Free cash flow equaled 40.3% of revenue.

How much does First Capital spend on capital expenditures?

First Capital spent $1.35M on capital expenditures in fiscal 2025, compared with $717.00K a year earlier. That equals 6.4% of operating cash flow.

Does First Capital pay dividends or buy back shares?

Yes. In fiscal 2025 First Capital returned $4.04M in dividends and $578.00K 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