The St. Joe Company (JOE) Cash Flow: Operating & Free Cash Flow

The St. Joe Company (JOE) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), The St. Joe Company generated $190.70M of operating cash flow and spent $23.81M on capital expenditures. That left free cash flow of $166.88M, up 66.5% from $100.25M a year earlier, or 32.5% of revenue. It returned $73.89M to shareholders through $33.62M in dividends and $40.27M in share buybacks.

The St. Joe Company 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 St. Joe Company (JOE) - 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	115.88	72.40	74.05	70.23	74.55	45.20	26.66	31.60	59.24
Depreciation & Amortization	47.47	46.39	38.78	22.89	18.20	12.79	34.83	9.00	8.89
Deferred Income Tax	-6.22	-0.80	-10.68	4.49	15.98	8.09	8.38	-4.80	-17.38
Stock Based Compensation	1.23	1.21	0.82	0.36	0.00	0.05	0.08	0.26	0.08
Change in Working Capital	4.85	0.23	12.06	17.67	1.05	-6.36	4.57	3.20	19.51
Change in Accounts Receivable	0.00	0.00	0.00	0.00	0.00	2.84	1.07	4.46	18.30
Change in Accounts Payable	2.46	-6.54	10.09	-0.33	0.00	0.00	0.00	0.00	0.00
Change in Other Working Capital	-84.95	9.67	-9.18	15.32	1.05	-7.20	3.50	3.20	19.51
Other Operating Activities	-84.95	-12.23	-21.86	-62.93	2.01	0.09	-44.12	2.16	-14.57
Net Cash from Operating Activities	190.70	107.99	103.85	48.22	111.80	37.33	30.39	41.42	55.77
Investing Activities
Capital Expenditures	-23.81	-7.75	-6.18	-7.35	-153.50	-5.69	-74.21	-25.38	-31.41
Acquisitions	-7.82	0.09	-2.31	-2.51	-9.88	-116.09	-64.85	-22.76	0.79
Purchases of Investments	-27.58	-1.51	-37.41	-97.13	-157.93	-56.23	-5.80	-22.10	-115.94
Sales/Maturities of Investments	0.79	0.80	79.79	147.11	117.36	13.50	36.69	85.76	188.50
Other Investing Activities	-7.82	-1.33	-1.63	19.36	7.87	2.68	78.87	28.55	2.52
Net Cash from Investing Activities	-26.22	-50.38	-99.14	-189.78	-196.09	-175.31	-29.30	44.07	44.45
Financing Activities
Debt Repayment	-114.63	-18.17	-53.49	-20.23	66.87	67.01	22.29	14.12	0.33
Common Stock Repurchased	-40.27	-3.36	0.00	-19.97	0.00	-8.80	-20.85	-93.37	-147.42
Dividends Paid	-33.62	-30.35	-25.66	-23.50	-18.84	-4.12	0.00	0.00	0.00
Other Financing Activities	-3.60	-1.12	-1.77	-8.20	0.54	5.34	-11.94	-0.62	-2.16
Net Cash from Financing Activities	-124.28	-52.07	40.76	112.46	48.57	59.42	-10.49	-79.86	-149.25
Summary
Net Change in Cash	40.20	5.55	45.47	-29.10	-35.72	-78.56	-9.40	5.62	-49.03
Cash at Beginning of Period	96.32	90.77	45.30	74.40	110.12	188.68	198.07	192.45	241.11
Cash at End of Period	136.51	96.32	90.77	45.30	74.40	110.12	188.68	198.07	192.08
Free Cash Flow	166.88	100.25	97.67	40.87	-41.70	31.64	-43.81	16.04	24.36
Supplemental Disclosures
Interest Paid	-	32.69	29.60	17.15	13.62	12.80	-	-	-
Income Taxes Paid	-	34.14	30.92	17.11	11.07	-	-	-	-

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

Frequently Asked Questions About The St. Joe Company Cash Flow

What is The St. Joe Company's free cash flow?

The St. Joe Company generated free cash flow of $166.88M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $190.70M minus $23.81M of capital expenditures. That was up 66.5% from $100.25M a year earlier. Free cash flow equaled 32.5% of revenue.

How much does The St. Joe Company spend on capital expenditures?

The St. Joe Company spent $23.81M on capital expenditures in fiscal 2025, compared with $7.75M a year earlier. That equals 12.5% of operating cash flow.

Does The St. Joe Company pay dividends or buy back shares?

Yes. In fiscal 2025 The St. Joe Company returned $33.62M in dividends and $40.27M 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