Mesa Laboratories (MLAB) Cash Flow: Operating & Free Cash Flow

Mesa Laboratories 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 Mesa Laboratories, Inc. (MLAB) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Operating Activities
Net Income	6.71	-1.97	-254.25	0.93	1.87	3.27	1.35	7.48	-2.96	11.18
Depreciation & Amortization	23.27	24.53	31.57	33.13	25.07	17.66	12.99	9.43	9.47	8.74
Deferred Income Tax	-1.29	-0.07	-28.42	-3.49	0.13	-3.50	-1.97	-2.47	-2.70	-0.63
Stock Based Compensation	17.87	13.14	11.94	12.54	11.39	9.27	5.53	4.21	1.67	1.41
Change in Working Capital	-4.99	6.90	5.97	-17.11	-7.19	5.25	-3.14	7.89	3.24	-13.04
Change in Accounts Receivable	-3.21	-2.93	4.94	-2.12	-6.75	-0.65	-1.67	1.59	0.68	0.99
Change in Inventory	-4.43	1.15	2.56	-10.18	-1.05	0.93	0.41	2.57	2.29	0.30
Change in Accounts Payable	-1.20	-0.39	-0.10	-1.55	1.37	0.97	-0.06	1.09	0.21	-0.66
Change in Other Working Capital	3.85	0.50	-1.43	-0.51	-0.77	4.00	-1.83	2.63	0.06	-13.68
Other Operating Activities	1.26	4.21	277.32	-1.51	7.96	5.12	11.80	4.01	16.10	0.09
Net Cash from Operating Activities	42.83	46.81	44.13	27.98	39.22	37.07	26.56	30.55	24.81	7.75
Investing Activities
Capital Expenditures	-3.25	-4.25	-2.57	-4.54	-4.43	-1.99	-1.50	-1.26	-2.80	-11.61
Acquisitions	0.00	0.00	-78.74	-4.95	-300.79	0.00	-184.10	-4.84	-15.52	-6.80
Sales/Maturities of Investments	0.00	-0.25	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	-0.25	0.00	0.00	0.00	0.00	0.02	2.22	1.13	-6.80
Net Cash from Investing Activities	-3.25	-4.50	-81.31	-9.49	-305.23	-1.99	-185.59	-3.88	-17.18	-18.41
Financing Activities
Debt Repayment	-26.75	-115.81	37.50	-36.00	49.00	0.00	149.50	-23.63	-8.63	9.55
Common Stock Issued	0.00	2.64	0.00	7.00	0.00	145.94	85.00	5.10	2.92	3.51
Common Stock Repurchased	0.00	-0.89	0.00	-0.92	0.00	0.00	0.00	-5.10	0.00	0.00
Dividends Paid	-3.52	-3.47	-3.45	-3.41	-3.34	-3.17	-2.72	-2.46	-2.41	-2.36
Other Financing Activities	-11.58	-0.45	-1.22	-0.92	6.92	3.46	-0.50	-0.68	2.92	0.00
Net Cash from Financing Activities	-41.85	-44.51	32.84	-33.33	52.58	146.23	231.28	-21.67	-8.12	10.71
Summary
Effect of Forex Changes on Cash	1.88	1.31	-0.36	-1.60	-1.09	1.18	-1.06	-0.29	0.14	0.07
Net Change in Cash	-0.39	-0.89	-4.70	-16.44	-214.52	182.49	71.20	4.72	-0.35	0.13
Cash at Beginning of Period	27.32	28.21	32.91	49.35	263.87	81.38	10.19	5.47	5.82	5.70
Cash at End of Period	26.93	27.32	28.21	32.91	49.35	263.87	81.38	10.19	5.47	5.82
Free Cash Flow	39.58	42.56	41.57	23.44	34.79	35.08	25.06	29.29	22.02	-3.86
Supplemental Disclosures
Interest Paid	-	11.08	4.65	3.49	2.76	2.37	-	-	-	-
Income Taxes Paid	-	5.73	4.59	1.36	3.05	1.37	-	-	-	-

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

Frequently Asked Questions About Mesa Laboratories Cash Flow

What is Mesa Laboratories's free cash flow?

Mesa Laboratories generated free cash flow of $39.58M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $42.83M minus $3.25M of capital expenditures. That was down 7.0% from $42.56M a year earlier. Free cash flow equaled 15.9% of revenue.

How much does Mesa Laboratories spend on capital expenditures?

Mesa Laboratories spent $3.25M on capital expenditures in fiscal 2026, compared with $4.25M a year earlier. That equals 7.6% of operating cash flow.

Does Mesa Laboratories pay dividends or buy back shares?

Yes. In fiscal 2026 Mesa Laboratories returned $3.52M 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