Proto Labs (PRLB) Cash Flow: Operating & Free Cash Flow

Proto Labs 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 Proto Labs, Inc. (PRLB) - 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	21.24	16.59	17.22	-103.46	33.37	50.87	63.66	76.59	51.78
Depreciation & Amortization	33.81	35.81	37.53	39.43	40.49	32.59	30.86	26.75	18.47
Deferred Income Tax	2.91	-5.15	-7.66	-9.50	0.34	7.58	6.11	11.94	0.09
Stock Based Compensation	15.73	17.00	15.99	17.55	19.10	14.67	10.78	10.93	8.56
Change in Working Capital	0.57	10.97	5.58	-1.60	-25.64	1.18	4.25	-2.36	1.43
Change in Accounts Receivable	-12.48	8.96	4.55	-1.05	-20.89	-0.09	1.85	-6.10	-9.93
Change in Inventory	-2.11	1.26	0.11	-0.31	-2.39	-0.66	0.06	-0.19	-0.99
Change in Accounts Payable	-0.33	0.48	-1.84	1.38	4.65	1.49	-0.72	1.94	3.18
Change in Other Working Capital	-0.20	0.28	1.21	-1.62	-7.02	0.44	3.06	1.98	8.08
Other Operating Activities	-0.20	2.61	1.21	119.67	-12.41	0.08	0.40	-0.92	1.42
Net Cash from Operating Activities	74.50	77.83	73.27	62.08	55.24	106.97	116.05	122.93	81.75
Investing Activities
Capital Expenditures	-14.84	-9.17	-28.12	-21.69	-34.21	-47.01	-62.23	-87.10	-32.64
Acquisitions	0.83	0.00	0.00	0.00	-127.41	0.00	0.00	0.19	-110.53
Purchases of Investments	-17.02	-25.07	0.00	-46.87	-16.16	-113.20	-46.40	-41.38	-20.04
Sales/Maturities of Investments	17.61	20.63	23.87	21.36	83.12	67.74	68.33	65.14	47.97
Other Investing Activities	0.00	0.03	-0.30	4.11	0.00	-3.00	-4.00	-0.13	-8.74
Net Cash from Investing Activities	-13.41	-13.58	-4.55	-43.09	-94.66	-95.47	-44.30	-63.28	-123.98
Financing Activities
Debt Repayment	-0.31	-0.30	-0.31	-0.53	-0.55	-0.15	0.00	-5.00	5.00
Common Stock Issued	6.34	4.02	3.84	3.95	5.86	7.56	4.39	6.79	8.60
Common Stock Repurchased	-46.40	-60.28	-45.39	-29.66	-23.28	-14.69	-33.52	-12.23	-4.41
Other Financing Activities	-3.43	-2.00	-1.44	-1.68	-4.23	-3.44	-2.49	0.00	0.00
Net Cash from Financing Activities	-40.37	-58.55	-41.86	-27.92	-22.20	-10.73	-31.62	-10.44	9.19
Summary
Effect of Forex Changes on Cash	1.03	-0.42	0.37	-0.44	-0.05	1.61	0.05	-0.87	0.95
Net Change in Cash	21.76	5.28	27.23	-9.37	-61.67	2.38	40.18	48.34	-32.09
Cash at Beginning of Period	89.07	83.79	56.56	65.93	127.60	125.23	85.05	36.71	68.80
Cash at End of Period	110.83	89.07	83.79	56.56	65.93	127.60	125.23	85.05	36.71
Free Cash Flow	59.66	68.66	45.16	40.39	21.03	59.96	53.82	35.83	49.11
Supplemental Disclosures
Interest Paid	0.06	0.14	1.06	0.10	0.03	-	-	-	-
Income Taxes Paid	6.74	13.91	15.89	19.16	7.58	-	-	-	-

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

Frequently Asked Questions About Proto Labs Cash Flow

What is Proto Labs's free cash flow?

Proto Labs generated free cash flow of $59.66M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $74.50M minus $14.84M of capital expenditures. That was down 13.1% from $68.66M a year earlier. Free cash flow equaled 11.2% of revenue.

How much does Proto Labs spend on capital expenditures?

Proto Labs spent $14.84M on capital expenditures in fiscal 2025, compared with $9.17M a year earlier. That equals 19.9% of operating cash flow.

Does Proto Labs pay dividends or buy back shares?

Yes. In fiscal 2025 Proto Labs returned $46.40M 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