OceanaGold (OGC) Cash Flow: Operating & Free Cash Flow

OceanaGold (OGC) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), OceanaGold generated $984.20M of operating cash flow and spent $442.80M on capital expenditures. That left free cash flow of $541.40M, up 153.3% from $213.70M a year earlier, or 28.6% of revenue. It returned $202.80M to shareholders through $27.70M in dividends and $175.10M in share buybacks.

OceanaGold 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 OceanaGold Corporation (OGC) - 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	639.71	192.00	83.10	132.60	-3.70	-150.40	14.50	121.70	171.74
Depreciation & Amortization	252.00	321.20	228.80	201.20	187.80	181.40	168.60	189.30	192.35
Deferred Income Tax	103.30	55.40	35.30	34.00	-29.40	15.60	-3.20	33.90	-2.96
Stock Based Compensation	90.20	27.70	14.20	7.20	7.90	7.80	5.70	6.90	5.67
Change in Working Capital	59.30	-7.70	-18.40	-19.90	-73.70	57.80	-3.80	-4.20	-32.82
Change in Accounts Receivable	-26.86	32.40	-26.30	-19.90	-19.90	-22.00	1.80	9.20	-14.35
Change in Inventory	-31.70	9.70	-16.30	-15.90	4.40	6.40	-16.50	-16.10	-24.32
Change in Accounts Payable	126.90	-0.90	26.30	27.60	13.00	-6.40	9.30	3.40	19.95
Change in Other Working Capital	-2.20	-7.70	-2.10	-5.00	5.50	79.80	1.60	8.50	-14.10
Other Operating Activities	-2.20	60.70	41.20	-5.00	143.10	86.60	22.50	-1.40	23.66
Net Cash from Operating Activities	984.20	593.90	384.20	368.70	261.40	198.80	204.30	346.20	357.65
Investing Activities
Capital Expenditures	-442.80	-380.20	-349.90	-281.70	-324.70	-253.70	-242.40	-223.90	-270.34
Acquisitions	1.32	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Purchases of Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-6.40	-0.66
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	1.10	23.50	0.00	0.00	0.00
Other Investing Activities	0.00	31.50	8.10	0.90	7.80	4.40	2.70	1.30	8.40
Net Cash from Investing Activities	-441.50	-348.70	-341.80	-280.80	-315.80	-225.80	-239.70	-229.00	-262.60
Financing Activities
Debt Repayment	-32.90	-186.70	-43.50	-130.20	-1.90	37.00	-15.40	-63.90	-84.00
Common Stock Issued	0.00	106.00	0.00	0.00	0.00	122.50	0.70	3.20	6.80
Common Stock Repurchased	-175.10	-24.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-27.70	-14.10	-14.30	0.00	0.00	0.00	-6.30	-18.60	-12.28
Other Financing Activities	-19.40	85.80	0.00	-26.90	-23.00	0.00	0.70	3.20	6.80
Net Cash from Financing Activities	-255.10	-120.50	-57.80	-130.20	25.10	159.50	-21.00	-79.30	-89.45
Summary
Effect of Forex Changes on Cash	-4.60	7.10	-6.10	-7.50	-16.70	-2.50	-2.30	-3.40	-1.21
Net Change in Cash	283.00	131.80	-21.50	-49.80	-46.00	130.00	-58.70	34.50	4.38
Cash at Beginning of Period	193.50	61.70	83.20	133.00	179.00	49.00	107.70	73.20	68.86
Cash at End of Period	476.50	193.50	61.70	83.20	133.00	179.00	49.00	107.70	73.24
Free Cash Flow	541.40	213.70	34.30	87.00	-63.30	-54.90	-38.10	122.30	87.31

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

Frequently Asked Questions About OceanaGold Cash Flow

What is OceanaGold's free cash flow?

OceanaGold generated free cash flow of $541.40M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $984.20M minus $442.80M of capital expenditures. That was up 153.3% from $213.70M a year earlier. Free cash flow equaled 28.6% of revenue.

How much does OceanaGold spend on capital expenditures?

OceanaGold spent $442.80M on capital expenditures in fiscal 2025, compared with $380.20M a year earlier. That equals 45.0% of operating cash flow.

Does OceanaGold pay dividends or buy back shares?

Yes. In fiscal 2025 OceanaGold returned $27.70M in dividends and $175.10M 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