Innovex International (INVX) Cash Flow: Operating & Free Cash Flow

Innovex International Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for Innovex International, Inc. (INVX) - 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	83.30	140.33	0.60	63.28	9.85	-30.77	1.72	-95.70	-100.64
Depreciation & Amortization	73.24	39.52	30.06	18.47	30.50	32.39	34.02	35.31	40.97
Deferred Income Tax	34.29	-4.60	-7.41	-6.71	-8.70	4.95	0.60	-4.09	17.23
Stock Based Compensation	13.80	13.25	0.00	0.91	0.70	0.00	0.00	0.00	0.00
Change in Working Capital	19.28	-4.70	-23.81	-79.63	-32.39	-83.09	-34.04	4.11	75.36
Change in Accounts Receivable	17.63	13.22	-29.08	-37.57	-27.11	-9.31	-46.25	-11.86	26.11
Change in Inventory	46.63	7.87	-28.64	-44.21	-13.95	-28.29	-14.05	49.93	37.64
Change in Accounts Payable	-12.70	-22.34	4.21	2.41	9.57	-20.39	15.34	-18.76	1.77
Change in Other Working Capital	3.66	-3.45	29.70	-0.27	-0.90	-25.10	10.92	-15.20	9.84
Other Operating Activities	3.66	-90.36	76.42	-2.12	-1.98	55.43	12.38	105.86	75.07
Net Cash from Operating Activities	190.91	93.44	75.86	-5.81	-2.03	-21.09	14.68	45.50	107.99
Investing Activities
Capital Expenditures	-35.13	-13.59	-15.49	-9.58	-6.44	-11.94	-11.50	-32.06	-27.62
Acquisitions	-83.67	88.79	-53.51	-28.91	-22.20	6.32	3.03	16.89	-17.27
Purchases of Investments	0.00	0.00	-48.87	-32.23	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	55.19	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	100.06	3.25	47.39	33.20	6.58	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	-18.74	78.44	-32.43	-37.52	-22.06	-5.63	-8.47	-15.17	-44.89
Financing Activities
Debt Repayment	-177.16	-21.18	-44.96	44.30	10.38	0.00	0.00	0.00	0.00
Common Stock Issued	0.00	3.33	0.00	0.00	0.00	0.00	2.18	1.62	0.56
Common Stock Repurchased	-9.28	0.00	0.00	-1.29	-0.33	-25.00	-26.57	-100.00	0.00
Dividends Paid	0.00	-74.98	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Financing Activities	-2.68	-10.24	0.39	-0.72	0.00	-0.18	-0.18	-0.82	0.00
Net Cash from Financing Activities	-44.92	-103.07	-44.57	42.29	10.05	-25.18	-24.57	-99.20	0.56
Summary
Effect of Forex Changes on Cash	2.88	-2.94	0.12	-0.27	-0.15	-1.09	-0.79	0.00	0.00
Net Change in Cash	130.13	65.87	-1.01	-1.32	-14.18	-52.99	-19.15	-75.08	69.68
Cash at Beginning of Period	73.28	7.41	8.42	9.74	23.92	398.95	418.10	493.18	423.50
Cash at End of Period	203.41	73.28	7.41	8.42	9.74	345.96	398.95	418.10	493.18
Free Cash Flow	155.78	79.85	60.38	-15.39	-8.47	-33.03	3.18	13.44	80.37
Supplemental Disclosures
Interest Paid	-	1.99	5.75	3.15	1.64	-	-	-	-
Income Taxes Paid	-	5.60	28.39	14.98	-0.03	-	-	-	-

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

Frequently Asked Questions About Innovex International Cash Flow

What is Innovex International's free cash flow?

Innovex International generated free cash flow of $155.78M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $190.91M minus $35.13M of capital expenditures. That was up 95.1% from $79.84M a year earlier. Free cash flow equaled 15.9% of revenue.

How much does Innovex International spend on capital expenditures?

Innovex International spent $35.13M on capital expenditures in fiscal 2025, compared with $13.59M a year earlier. That equals 18.4% of operating cash flow.

Does Innovex International pay dividends or buy back shares?

Yes. In fiscal 2025 Innovex International returned $9.28M 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