Lakeland Financial (LKFN) Cash Flow: Operating & Free Cash Flow

Lakeland Financial (LKFN) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Lakeland Financial generated $114.89M of operating cash flow and spent $11.12M on capital expenditures. That left free cash flow of $103.77M, up 10.6% from $93.85M a year earlier, or 38.6% of revenue. It returned $71.82M to shareholders through $51.43M in dividends and $20.39M in share buybacks.

Lakeland Financial 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 Lakeland Financial Corporation (LKFN) - 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	103.36	93.48	93.77	103.82	95.73	84.34	87.05	80.41	57.33
Depreciation & Amortization	5.98	5.95	6.17	6.78	8.39	6.81	6.46	6.16	5.72
Stock Based Compensation	8.56	4.59	3.65	7.81	7.16	1.79	4.19	5.61	5.70
Change in Working Capital	-13.46	-9.37	3.91	30.04	-2.22	-14.08	1.80	5.18	3.37
Change in Accounts Receivable	-0.16	1.28	-6.17	-10.71	-1.85	-6.32	-4.73	-3.30	0.79
Change in Accounts Payable	-13.29	-10.66	10.08	40.75	-0.37	-7.76	6.53	8.48	2.58
Change in Other Working Capital	-5.02	0.00	-3.30	0.00	4.14	0.00	0.00	0.00	0.00
Other Operating Activities	-5.02	7.84	-3.30	20.90	4.14	8.36	0.55	7.62	5.13
Net Cash from Operating Activities	114.89	102.49	113.98	169.34	113.77	87.23	100.04	104.98	77.24
Investing Activities
Capital Expenditures	-11.12	-8.63	-5.99	-4.82	-6.17	-5.72	-8.00	-7.97	-9.58
Purchases of Investments	-83.35	-27.52	-7.18	-315.27	-835.00	-216.48	-129.45	-126.55	-139.25
Sales/Maturities of Investments	66.83	75.80	177.01	133.49	151.78	106.02	124.93	69.12	102.62
Other Investing Activities	-325.42	-203.89	-218.78	-439.92	1.18	-595.84	-156.17	-101.04	-349.84
Net Cash from Investing Activities	-325.42	-164.24	-54.93	-626.52	-331.55	-712.02	-168.69	-166.44	-396.05
Financing Activities
Debt Repayment	184.20	-50.00	-247.00	222.00	-10.50	-84.50	-106.48	94.87	-79.40
Common Stock Issued	0.38	0.39	0.41	0.22	0.12	0.12	0.12	0.12	0.00
Common Stock Repurchased	-20.39	-0.59	-0.58	-0.58	-0.56	-10.55	-0.52	-0.46	-0.50
Dividends Paid	-51.43	-49.29	-47.11	-40.85	-34.65	-30.58	-29.65	-25.29	-21.41
Other Financing Activities	72.38	177.63	256.77	-276.57	696.69	900.85	87.65	32.98	429.01
Net Cash from Financing Activities	183.65	78.13	-37.51	-95.78	651.09	775.34	-48.89	102.21	327.71
Summary
Net Change in Cash	-26.89	16.38	21.54	-552.96	433.31	150.55	-117.54	40.74	8.90
Cash at Beginning of Period	168.21	151.82	130.28	683.24	249.93	99.38	216.92	176.18	167.28
Cash at End of Period	141.32	168.21	151.82	130.28	683.24	249.93	99.38	216.92	176.18
Free Cash Flow	103.77	93.85	107.99	164.52	107.60	81.51	92.04	97.01	67.66
Supplemental Disclosures
Interest Paid	-	185.26	128.53	36.11	18.47	-	-	-	-
Income Taxes Paid	-	23.75	14.08	20.58	25.95	-	-	-	-

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

Frequently Asked Questions About Lakeland Financial Cash Flow

What is Lakeland Financial's free cash flow?

Lakeland Financial generated free cash flow of $103.77M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $114.89M minus $11.12M of capital expenditures. That was up 10.6% from $93.85M a year earlier. Free cash flow equaled 38.6% of revenue.

How much does Lakeland Financial spend on capital expenditures?

Lakeland Financial spent $11.12M on capital expenditures in fiscal 2025, compared with $8.63M a year earlier. That equals 9.7% of operating cash flow.

Does Lakeland Financial pay dividends or buy back shares?

Yes. In fiscal 2025 Lakeland Financial returned $51.43M in dividends and $20.39M 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