The Greenbrier Companies (GBX) Cash Flow: Operating & Free Cash Flow

The Greenbrier Companies 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 The Greenbrier Companies, Inc. (GBX) - 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	Aug 2025	Aug 2024	Aug 2023	Aug 2022	Aug 2021	Aug 2020	Aug 2019	Aug 2018	Aug 2017
Operating Activities
Net Income	213.10	172.70	62.50	46.90	32.48	48.97	71.08	151.78	116.07
Depreciation & Amortization	121.50	115.60	106.30	102.00	100.72	109.20	81.90	74.36	65.13
Deferred Income Tax	42.10	16.80	7.20	12.90	51.10	-9.49	-20.23	-40.50	4.38
Stock Based Compensation	17.50	17.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Change in Working Capital	-103.50	23.80	-171.50	-302.80	-258.99	87.24	-182.78	-96.25	32.92
Change in Accounts Receivable	-4.60	9.20	-17.00	-125.90	-185.14	135.33	13.02	-83.55	-25.27
Change in Inventory	62.00	50.00	-17.20	-267.90	-166.49	166.61	-143.17	-26.59	-2.79
Change in Accounts Payable	-67.00	-63.50	16.30	165.30	109.92	-108.84	55.91	54.03	-30.64
Change in Other Working Capital	-78.00	16.60	-153.60	-74.30	-17.28	-105.86	-108.54	-40.14	91.61
Other Operating Activities	17.10	0.40	73.50	-5.90	39.52	49.04	30.88	18.61	62.45
Net Cash from Operating Activities	265.70	329.60	78.00	-146.90	-35.18	284.95	-19.15	108.00	280.94
Investing Activities
Capital Expenditures	-280.40	-398.30	-362.10	-380.70	-139.01	-66.88	-198.23	-176.85	-86.07
Acquisitions	77.30	75.00	78.80	155.50	15.93	83.48	-236.45	118.35	-2.98
Purchases of Investments	0.00	0.00	-3.50	-2.30	-0.03	-1.82	-11.39	-26.46	-40.63
Other Investing Activities	0.00	2.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	-203.10	-320.40	-286.80	-227.50	-123.11	14.79	-446.08	-84.95	-129.68
Financing Activities
Debt Repayment	-131.10	-236.20	32.40	301.30	54.52	292.86	333.29	14.90	263.04
Common Stock Repurchased	-28.30	-6.40	-56.90	-3.70	-20.00	-2.20	-6.32	-7.72	-5.22
Dividends Paid	-39.60	-38.40	-36.10	-35.80	-35.66	-35.17	-33.19	-29.91	-24.89
Other Financing Activities	-23.40	-12.20	-15.60	-16.90	-21.60	-39.04	-16.88	-66.53	-23.30
Net Cash from Financing Activities	-101.70	86.20	-76.20	244.90	-22.74	216.46	276.90	-89.27	209.64
Summary
Effect of Forex Changes on Cash	-3.10	-29.50	28.60	17.20	10.34	-12.60	-12.67	-14.67	12.50
Net Change in Cash	-42.20	65.90	-256.40	-112.30	-170.69	503.60	-200.99	-80.88	373.40
Cash at Beginning of Period	368.60	302.70	559.10	671.40	842.09	338.49	539.47	620.36	246.96
Cash at End of Period	326.40	368.60	302.70	559.10	671.40	842.09	338.49	539.47	620.36
Free Cash Flow	-14.70	-68.70	-284.10	-527.60	-174.19	218.08	-217.38	-68.85	194.87
Supplemental Disclosures
Interest Paid	82.20	85.70	70.00	45.10	28.10	-	-	-	-
Income Taxes Paid	48.20	42.60	23.00	-55.00	11.10	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of May 31, 2026. Data sources and methodology

Frequently Asked Questions About The Greenbrier Companies Cash Flow

What is The Greenbrier Companies's free cash flow?

The Greenbrier Companies had negative free cash flow of $14.70M in fiscal 2025 (fiscal year ended Aug 31, 2025), operating cash flow of $265.70M minus $280.40M of capital expenditures.

How much does The Greenbrier Companies spend on capital expenditures?

The Greenbrier Companies spent $280.40M on capital expenditures in fiscal 2025, compared with $398.30M a year earlier. That equals 105.5% of operating cash flow.

Does The Greenbrier Companies pay dividends or buy back shares?

Yes. In fiscal 2025 The Greenbrier Companies returned $39.60M in dividends and $28.30M 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