Knife River (KNF) Cash Flow: Operating & Free Cash Flow

Knife River 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 Knife River Corporation (KNF) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	157.07	201.68	182.87	116.22	129.76	147.33
Depreciation & Amortization	193.74	136.87	123.81	117.80	93.47	83.40
Deferred Income Tax	25.49	-0.35	-1.61	2.08	32.86	1.75
Stock Based Compensation	11.39	7.83	2.89	1.27	1.85	1.78
Change in Working Capital	-90.82	-16.03	20.09	-29.02	-64.64	-7.76
Change in Accounts Receivable	-44.04	14.06	-38.77	-40.51	15.36	7.90
Change in Inventory	-13.44	-44.30	3.65	-31.03	-42.44	-11.29
Change in Accounts Payable	-14.99	7.31	25.78	17.49	-14.86	-10.66
Change in Other Working Capital	-18.35	6.90	7.01	25.04	-12.06	11.79
Other Operating Activities	-18.40	-8.02	7.01	-0.91	-12.06	5.91
Net Cash from Operating Activities	278.48	322.32	335.73	207.44	181.24	232.40
Investing Activities
Capital Expenditures	-348.04	-172.43	-124.28	-178.16	-174.23	-135.87
Acquisitions	-609.99	-130.98	0.00	1.75	-235.22	-56.68
Purchases of Investments	0.00	-3.39	0.00	-2.34	-0.84	-1.51
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	174.23	135.87
Other Investing Activities	44.38	-3.39	6.39	22.88	-162.21	-127.67
Net Cash from Investing Activities	-913.66	-294.80	-117.89	-155.88	-398.27	-185.86
Financing Activities
Debt Repayment	491.19	-7.04	-3.65	0.70	-0.22	-2.49
Common Stock Repurchased	0.00	-1.67	0.00	0.00	0.00	0.00
Other Financing Activities	-13.72	-1.67	-867.23	-56.02	-57.96	-45.46
Net Cash from Financing Activities	477.47	-8.71	34.39	-55.32	223.80	-47.95
Summary
Net Change in Cash	-157.72	18.81	252.23	-3.76	6.78	-1.40
Cash at Beginning of Period	281.13	262.32	10.09	13.85	7.07	8.47
Cash at End of Period	123.42	281.13	262.32	10.09	13.85	7.07
Free Cash Flow	-69.57	149.90	211.44	29.28	7.01	96.53
Supplemental Disclosures
Income Taxes Paid	41.77	62.18	76.69	21.19	34.78	-

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

Frequently Asked Questions About Knife River Cash Flow

What is Knife River's free cash flow?

Knife River had negative free cash flow of $69.57M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $278.48M minus $348.04M of capital expenditures.

How much does Knife River spend on capital expenditures?

Knife River spent $348.04M on capital expenditures in fiscal 2025, compared with $172.43M a year earlier. That equals 125.0% of operating cash flow.

Does Knife River pay dividends or buy back shares?

Knife River's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

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