Karooooo (KARO) Cash Flow: Operating & Free Cash Flow

Karooooo Cash Flow Statement Analysis

Values in billions ZAR

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Karooooo Ltd. (KARO) - Annual data in billions ZAR
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Feb 2026	Feb 2025	Feb 2024	Feb 2023	Feb 2022	Feb 2021	Feb 2020	Feb 2019
Operating Activities
Net Income	1.36	0.94	1.07	0.89	0.68	0.70	0.31	0.19
Depreciation & Amortization	1.01	0.76	0.65	0.54	0.50	0.40	0.35	0.27
Change in Working Capital	-0.11	0.22	-0.54	-0.12	-0.12	-0.02	0.10	-0.12
Change in Accounts Receivable	-0.01	0.39	-0.55	-0.06	-0.05	-0.08	-0.04	-0.06
Change in Inventory	0.00	0.00	0.07	-0.05	-0.03	0.00	0.06	-0.04
Change in Accounts Payable	0.14	0.01	0.06	0.07	-0.01	0.12	0.02	0.04
Change in Other Working Capital	0.04	0.01	-0.14	-0.10	-0.12	-0.10	0.07	-0.07
Other Operating Activities	0.04	0.01	0.06	0.05	0.09	0.05	0.20	0.15
Net Cash from Operating Activities	1.97	1.93	0.96	1.13	0.93	0.94	0.95	0.49
Investing Activities
Capital Expenditures	-1.22	-1.08	-0.88	-0.58	-0.55	-0.96	-0.41	-0.44
Acquisitions	0.00	0.00	-0.01	0.01	-0.07	0.00	0.01	0.00
Purchases of Investments	0.00	0.00	0.00	-0.01	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	-0.05	-0.05	-0.04	-0.05	0.00	0.00
Other Investing Activities	-1.11	0.00	0.00	-0.01	0.00	-0.01	-0.01	0.00
Net Cash from Investing Activities	-1.21	-1.08	-0.93	-0.62	-0.66	-0.52	-0.45	-0.45
Financing Activities
Debt Repayment	-0.19	-0.10	-0.01	-0.03	-0.95	-0.01	-0.23	0.25
Common Stock Issued	0.00	-0.02	0.00	0.00	0.45	0.00	0.00	0.00
Common Stock Repurchased	0.00	0.00	-0.02	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-0.69	-0.61	-0.50	-0.33	0.00	-0.42	-0.06	-0.15
Other Financing Activities	-0.03	-0.02	-0.06	-0.06	1.22	-0.92	-0.10	-0.01
Net Cash from Financing Activities	-0.71	-0.44	-0.59	-0.42	0.33	-0.49	-0.39	0.09
Summary
Effect of Forex Changes on Cash	-0.14	-0.01	0.04	0.16	0.03	0.00	-0.02	-0.08
Net Change in Cash	0.05	0.41	-0.53	0.25	0.64	-0.07	0.09	0.05
Cash at Beginning of Period	0.84	0.44	0.97	0.72	0.08	0.14	0.06	0.00
Cash at End of Period	0.75	0.84	0.44	0.97	0.72	0.10	0.14	0.05
Free Cash Flow	0.75	0.85	0.08	0.55	0.38	-0.02	0.54	0.05
Supplemental Disclosures
Interest Paid	-	0.05	0.02	0.01	0.01	0.01	-	-
Income Taxes Paid	-	0.34	0.30	0.26	0.20	0.19	-	-

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

Frequently Asked Questions About Karooooo Cash Flow

What is Karooooo's free cash flow?

Karooooo generated free cash flow of ZAR 747.43M in fiscal 2026 (fiscal year ended Feb 28, 2026), operating cash flow of ZAR 1.97B minus ZAR 1.22B of capital expenditures. That was down 12.3% from ZAR 851.99M a year earlier. Free cash flow equaled 13.6% of revenue.

How much does Karooooo spend on capital expenditures?

Karooooo spent ZAR 1.22B on capital expenditures in fiscal 2026, compared with ZAR 1.08B a year earlier. That equals 62.0% of operating cash flow.

Does Karooooo pay dividends or buy back shares?

Yes. In fiscal 2026 Karooooo returned ZAR 694.35M in dividends 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