Orion (OEC) Cash Flow: Operating & Free Cash Flow

Orion 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 Orion S.A. (OEC) - 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	-70.10	44.20	103.50	106.20	134.70	18.16	86.92	121.31	64.86
Depreciation & Amortization	131.90	125.30	113.00	105.70	104.10	96.53	96.71	98.16	98.36
Deferred Income Tax	-6.80	-19.70	6.30	7.20	20.30	-12.15	15.83	-3.63	-7.67
Stock Based Compensation	13.60	0.00	15.40	0.00	5.20	0.00	0.00	13.92	8.84
Change in Working Capital	72.30	-41.40	108.10	-139.00	-114.70	11.10	17.66	-113.93	-21.58
Change in Accounts Receivable	17.40	13.80	131.20	-95.60	-67.60	-16.50	45.41	-39.68	-15.89
Change in Inventory	36.50	-19.60	-7.70	-60.10	-94.90	29.95	16.41	-31.41	-25.63
Change in Accounts Payable	15.30	-14.80	1.60	9.20	58.70	-18.73	-12.04	5.44	17.55
Change in Other Working Capital	1.70	-20.80	-14.90	7.50	2.30	16.39	-32.13	-48.29	2.40
Other Operating Activities	68.10	16.90	5.90	0.90	2.30	11.64	14.39	20.09	13.77
Net Cash from Operating Activities	215.80	125.30	345.90	81.00	145.20	125.28	231.51	121.99	147.74
Investing Activities
Capital Expenditures	-161.00	-206.70	-172.80	-232.80	-214.70	-144.94	-155.85	-116.16	-90.28
Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-36.57	0.00
Other Investing Activities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	64.67	0.00
Net Cash from Investing Activities	-161.00	-206.70	-172.80	-232.80	-214.70	-144.94	-155.85	-88.06	-90.28
Financing Activities
Debt Repayment	-8.90	120.90	-3.00	158.80	-213.00	26.79	-14.10	13.56	-22.79
Common Stock Issued	0.00	0.00	0.00	0.00	0.00	-1.20	-6.48	0.00	0.00
Common Stock Repurchased	-24.80	-26.60	-65.60	-4.30	0.00	0.00	0.00	-4.93	0.00
Dividends Paid	-4.70	-4.80	-4.90	-5.00	0.00	-12.05	-48.03	-47.67	-45.71
Other Financing Activities	-4.60	-0.20	-2.70	-0.20	72.90	0.00	0.00	0.00	0.00
Net Cash from Financing Activities	-41.20	89.30	-197.10	149.30	73.30	13.54	-68.61	-43.77	-68.50
Summary
Effect of Forex Changes on Cash	2.90	-3.40	0.80	-2.60	-3.20	7.26	-0.34	-5.43	5.37
Net Change in Cash	16.50	4.50	-23.20	-5.10	3.80	1.14	6.71	-15.27	-5.67
Cash at Beginning of Period	44.70	40.20	63.40	68.50	67.90	63.73	57.02	72.28	77.95
Cash at End of Period	60.70	44.70	37.50	63.40	65.70	64.87	63.73	57.02	72.28
Free Cash Flow	54.80	-81.40	173.10	-151.80	-69.50	-19.66	75.66	5.83	57.46
Supplemental Disclosures
Income Taxes Paid	41.20	47.30	56.10	23.90	37.60	-	-	-	-

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

Frequently Asked Questions About Orion Cash Flow

What is Orion's free cash flow?

Orion generated free cash flow of $54.80M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $215.80M minus $161.00M of capital expenditures. Free cash flow equaled 3.0% of revenue.

How much does Orion spend on capital expenditures?

Orion spent $161.00M on capital expenditures in fiscal 2025, compared with $206.70M a year earlier. That equals 74.6% of operating cash flow.

Does Orion pay dividends or buy back shares?

Yes. In fiscal 2025 Orion returned $4.70M in dividends and $24.80M 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