Guardian Pharmacy Services (GRDN) Cash Flow: Operating & Free Cash Flow

Guardian Pharmacy 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 Guardian Pharmacy Services, Inc. (GRDN) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	49.22	-71.03	37.72	49.66	28.33	29.66	31.37	23.27
Depreciation & Amortization	22.34	19.77	18.23	16.56	16.53	17.26	15.85	13.13
Deferred Income Tax	3.07	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Stock Based Compensation	13.85	131.49	-6.09	-3.38	13.03	3.21	1.93	5.98
Change in Working Capital	6.38	-29.41	15.60	-18.72	-1.47	-1.09	1.34	-1.66
Change in Accounts Receivable	-8.55	-25.49	-14.30	-16.79	-7.71	3.58	-11.13	-8.79
Change in Inventory	-0.88	-1.15	4.43	-8.12	-0.24	0.38	-3.05	0.48
Change in Accounts Payable	16.40	13.23	6.30	13.37	9.78	-1.95	7.91	9.05
Change in Other Working Capital	1.08	0.77	0.28	-7.17	-3.30	-3.10	7.61	-2.39
Other Operating Activities	1.08	0.77	0.28	4.40	2.08	3.58	5.67	2.95
Net Cash from Operating Activities	100.26	57.96	70.82	48.52	58.50	52.61	56.16	43.68
Investing Activities
Capital Expenditures	-19.55	-16.37	-14.56	-16.77	-9.28	-8.34	-14.54	-10.01
Acquisitions	-13.42	-14.71	-0.99	-2.00	-4.40	-4.38	-2.07	-10.68
Other Investing Activities	-12.68	0.67	2.10	0.87	0.54	0.55	0.02	-0.06
Net Cash from Investing Activities	-32.23	-30.41	-13.44	-17.90	-13.15	-12.18	-16.59	-20.75
Financing Activities
Debt Repayment	-4.98	-240.78	-272.39	-2.80	-6.10	-13.37	2.30	16.03
Common Stock Issued	29.04	119.78	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	-29.04	-55.18	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	0.00	-35.75	-38.42	-30.80	-17.36	-10.82	-34.32	-27.99
Other Financing Activities	-2.09	-16.02	-15.92	-11.42	-13.34	-10.07	-9.52	-9.11
Net Cash from Financing Activities	-7.07	-23.65	-57.23	-45.03	-36.79	-34.26	-41.55	-21.08
Summary
Net Change in Cash	60.96	3.91	0.15	-14.41	8.56	6.17	-1.98	1.85
Cash at Beginning of Period	4.66	0.75	0.61	15.01	6.45	0.28	2.25	0.40
Cash at End of Period	65.62	4.66	0.75	0.61	15.01	6.45	0.28	2.25
Free Cash Flow	80.71	41.59	56.26	31.75	49.22	44.27	41.62	33.67
Supplemental Disclosures
Interest Paid	-	3.12	2.78	1.78	-	2.08	-	-

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

Frequently Asked Questions About Guardian Pharmacy Services Cash Flow

What is Guardian Pharmacy Services's free cash flow?

Guardian Pharmacy Services generated free cash flow of $80.71M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $100.25M minus $19.55M of capital expenditures. That was up 94.1% from $41.59M a year earlier. Free cash flow equaled 5.6% of revenue.

How much does Guardian Pharmacy Services spend on capital expenditures?

Guardian Pharmacy Services spent $19.55M on capital expenditures in fiscal 2025, compared with $16.37M a year earlier. That equals 19.5% of operating cash flow.

Does Guardian Pharmacy Services pay dividends or buy back shares?

Yes. In fiscal 2025 Guardian Pharmacy Services returned $29.04M 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