Skeena Resources (SKE) Cash Flow: Operating & Free Cash Flow

Skeena Resources Cash Flow Statement Analysis

Values in millions CAD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Skeena Resources Limited (SKE) - Annual data in millions CAD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2023	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Mar 2025	Dec 2024	Mar 2024	Dec 2023	Dec 2022	Mar 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	-182.84	-151.94	-151.94	-108.98	-108.98	-88.89	-117.57	-117.57	-60.31	-27.08	-15.52	-10.00
Depreciation & Amortization	1.24	8.22	8.22	2.40	2.40	1.91	2.02	2.02	0.62	0.40	0.20	0.12
Deferred Income Tax	3.46	0.00	-	-0.64	-0.64	0.00	0.00	-	0.00	0.00	0.00	0.00
Stock Based Compensation	24.92	0.00	13.13	0.00	11.99	0.00	0.00	14.11	0.00	0.00	0.00	0.00
Change in Working Capital	-29.68	22.85	22.85	8.35	8.35	6.18	-10.30	-10.30	7.57	4.20	-1.37	-0.19
Change in Accounts Receivable	-2.90	0.67	0.67	3.36	3.36	1.78	-4.45	-4.45	-1.32	1.40	-0.94	-0.58
Change in Accounts Payable	-25.36	0.00	21.63	0.00	5.18	0.00	0.00	-1.14	0.00	0.00	0.00	0.00
Change in Other Working Capital	-9.15	22.18	-15.79	4.99	-4.49	4.40	-5.85	-12.72	8.89	2.80	-0.43	0.39
Other Operating Activities	-9.15	-7.79	-15.79	8.27	-4.49	-12.58	1.43	-12.72	-14.26	12.01	1.57	-0.81
Net Cash from Operating Activities	-57.29	-128.66	-127.90	-90.60	-90.60	-93.38	-124.41	-124.41	-66.38	-10.47	-15.11	-10.88
Investing Activities
Capital Expenditures	-294.66	-2.21	-2.71	-8.75	-10.65	-18.84	-11.43	-11.43	-5.12	-0.02	-0.14	-0.87
Acquisitions	0.00	0.00	-	56.00	-	32.88	0.04	-	0.00	0.00	0.00	0.00
Purchases of Investments	-11.50	0.00	0.04	-0.13	0.40	-1.65	-3.42	-3.42	-1.22	-0.24	0.00	-1.56
Sales/Maturities of Investments	0.98	0.04	0.04	0.40	0.40	0.32	1.74	1.26	2.09	0.45	0.78	0.00
Other Investing Activities	-28.43	-12.86	-21.66	-1.90	39.62	-0.93	0.00	0.01	5.61	0.19	2.60	-0.04
Net Cash from Investing Activities	-333.36	-23.83	-23.83	31.27	31.27	11.40	-13.55	-13.55	0.59	0.39	3.24	-2.47
Financing Activities
Debt Repayment	-12.11	-25.93	-34.51	0.00	-0.99	0.00	0.00	-1.57	0.00	0.00	0.00	0.00
Common Stock Issued	232.14	124.46	122.75	110.85	88.81	82.75	142.03	131.96	90.49	22.11	11.95	11.75
Other Financing Activities	187.41	58.99	66.41	-0.99	-4.06	-0.48	-1.57	1.78	0.00	0.00	0.00	0.00
Net Cash from Financing Activities	415.58	157.53	156.77	109.86	109.86	82.27	140.45	140.45	90.49	22.11	11.95	11.75
Summary
Effect of Forex Changes on Cash	0.02	0.77	0.77	0.00	-	0.00	0.00	-	0.00	0.00	0.00	0.00
Net Change in Cash	24.95	5.81	5.81	50.53	50.53	0.29	2.49	2.49	24.70	12.03	0.07	-1.60
Cash at Beginning of Period	96.94	91.14	91.14	40.60	40.60	40.31	37.82	37.82	13.12	1.09	1.02	2.62
Cash at End of Period	121.89	96.94	96.94	91.14	91.14	40.60	40.31	40.31	37.82	13.12	1.09	1.02
Free Cash Flow	-351.95	-130.87	-130.61	-99.35	-101.25	-112.22	-135.85	-135.85	-71.50	-10.49	-15.25	-11.75

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

Frequently Asked Questions About Skeena Resources Cash Flow

What is Skeena Resources's free cash flow?

Skeena Resources had negative free cash flow of CAD 351.95M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of −CAD 57.29M minus CAD 294.66M of capital expenditures.

How much does Skeena Resources spend on capital expenditures?

Skeena Resources spent CAD 294.66M on capital expenditures in fiscal 2025, compared with CAD 2.21M a year earlier.

Does Skeena Resources pay dividends or buy back shares?

Skeena Resources's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

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