N-able (NABL) Cash Flow: Operating & Free Cash Flow

N-able 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 N-able, Inc. (NABL) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	-17.03	30.96	23.41	16.71	0.11	-7.16	-2.51	-13.69
Depreciation & Amortization	44.36	25.73	20.07	24.44	33.77	56.45	54.14	56.02
Deferred Income Tax	-3.57	-1.95	0.33	-1.42	-1.91	-4.05	-4.73	-10.54
Stock Based Compensation	46.59	45.35	43.57	36.53	29.43	21.05	8.66	1.80
Change in Working Capital	-0.60	-21.02	2.13	-4.96	-19.91	16.18	-31.16	15.29
Change in Accounts Receivable	-8.51	-2.13	-7.23	-4.13	-5.57	-3.69	-5.29	-4.94
Change in Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	19.32
Change in Accounts Payable	1.83	-0.46	1.83	-1.62	-0.46	3.27	-0.24	0.79
Change in Other Working Capital	20.84	-30.89	7.53	0.79	-19.49	16.60	-25.63	0.12
Other Operating Activities	20.84	-1.58	0.58	0.12	2.68	3.19	1.14	3.45
Net Cash from Operating Activities	93.20	79.44	90.09	71.41	45.34	85.67	25.54	52.33
Investing Activities
Capital Expenditures	-29.26	-17.57	-22.34	-21.01	-30.66	-16.14	-8.22	-9.92
Acquisitions	0.00	-98.69	0.00	-9.20	0.00	0.00	-14.82	-13.00
Sales/Maturities of Investments	-11.12	-6.16	0.00	0.00	-4.17	0.00	0.00	0.00
Other Investing Activities	0.30	-6.16	-8.56	-8.18	-4.17	-4.22	-2.42	-0.45
Net Cash from Investing Activities	-28.96	-122.42	-22.34	-30.21	-34.83	-16.14	-23.04	-22.93
Financing Activities
Debt Repayment	-338.63	-3.50	-3.50	-3.50	-373.53	-21.75	-55.60	0.00
Common Stock Issued	2.36	2.39	0.00	0.00	216.02	0.00	0.00	0.00
Common Stock Repurchased	-30.04	-20.49	-11.98	0.00	-2.23	0.00	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	-216.00	0.00	0.00	0.00
Other Financing Activities	-74.32	-1.00	0.30	-6.90	-241.59	11.19	12.79	20.58
Net Cash from Financing Activities	-40.63	-22.60	-15.17	-10.40	-42.32	-10.56	-42.81	20.58
Summary
Effect of Forex Changes on Cash	3.02	-2.27	1.62	1.31	-1.24	1.48	1.79	-2.55
Net Change in Cash	26.64	-67.85	54.20	32.11	-33.05	60.44	-38.52	47.44
Cash at Beginning of Period	85.20	153.05	98.85	66.74	99.79	39.35	77.87	30.43
Cash at End of Period	111.84	85.20	153.05	98.85	66.74	99.79	39.35	77.87
Free Cash Flow	63.95	61.87	67.75	50.40	14.68	69.53	17.33	42.40
Supplemental Disclosures
Interest Paid	24.97	28.69	28.44	15.57	20.39	-	-	-
Income Taxes Paid	18.06	12.77	14.93	16.30	19.03	-	-	-

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

Frequently Asked Questions About N-able Cash Flow

What is N-able's free cash flow?

N-able generated free cash flow of $63.95M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $93.20M minus $29.26M of capital expenditures. That was up 3.4% from $61.87M a year earlier. Free cash flow equaled 12.5% of revenue.

How much does N-able spend on capital expenditures?

N-able spent $29.26M on capital expenditures in fiscal 2025, compared with $17.57M a year earlier. That equals 31.4% of operating cash flow.

Does N-able pay dividends or buy back shares?

Yes. In fiscal 2025 N-able returned $30.04M 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