Ultra Clean Holdings (UCTT) Cash Flow: Operating & Free Cash Flow

Ultra Clean Holdings (UCTT) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Ultra Clean Holdings generated $65.60M of operating cash flow and spent $50.30M on capital expenditures. That left free cash flow of $15.30M, up 920.0% from $1.50M a year earlier, or 0.7% of revenue. It returned $3.50M to shareholders through $100.00K in dividends and $3.40M in share buybacks.

Ultra Clean Holdings 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 Ultra Clean Holdings, Inc. (UCTT) - 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	-171.60	34.50	-31.10	50.40	126.40	80.39	-7.62	36.95	75.09
Depreciation & Amortization	76.00	76.10	61.70	68.40	67.50	46.64	43.36	21.91	10.71
Deferred Income Tax	-2.70	-3.00	-12.40	-0.20	-3.20	0.38	-3.56	-0.08	-3.76
Stock Based Compensation	19.20	17.40	12.10	19.10	15.80	12.70	12.07	10.27	7.76
Change in Working Capital	-9.70	-35.00	92.00	-172.60	-3.60	-48.12	71.96	-23.36	-40.84
Change in Accounts Receivable	32.30	-60.30	78.50	-15.70	-53.00	-32.69	-4.49	7.69	-14.93
Change in Inventory	-9.90	-6.50	80.80	-84.40	-125.10	-8.02	22.29	50.15	-131.87
Change in Accounts Payable	-31.10	26.40	-61.50	-68.50	170.60	-12.56	31.02	-82.95	99.57
Change in Other Working Capital	2.70	5.40	-5.80	3.90	3.90	5.10	23.14	1.75	6.39
Other Operating Activities	2.70	-25.00	13.60	3.90	8.70	5.29	4.76	-0.31	-0.05
Net Cash from Operating Activities	65.60	65.00	135.90	47.20	211.60	97.28	120.97	45.38	48.91
Investing Activities
Capital Expenditures	-50.30	-63.50	-75.80	-100.10	-59.30	-36.43	-26.31	-29.49	-16.15
Acquisitions	0.00	0.00	-46.10	3.40	-342.80	6.60	-29.87	-319.78	0.00
Purchases of Investments	0.00	0.00	0.00	0.00	-10.40	0.00	0.00	0.00	0.00
Other Investing Activities	3.30	0.00	2.20	0.50	7.70	0.00	7.00	0.00	0.00
Net Cash from Investing Activities	-47.00	-63.50	-119.70	-96.20	-404.80	-29.83	-49.18	-349.27	-16.15
Financing Activities
Debt Repayment	-77.50	13.30	-38.60	-39.70	283.40	-28.80	-51.20	300.70	-16.20
Common Stock Issued	2.20	2.00	0.80	0.70	193.60	0.60	0.30	94.60	1.80
Common Stock Repurchased	-3.40	0.00	-29.40	-12.10	0.00	0.00	0.00	0.00	0.00
Dividends Paid	-0.10	-0.50	-0.20	-0.30	0.00	0.00	-0.60	0.00	0.00
Other Financing Activities	-1.70	-5.00	-2.50	-4.60	-16.20	-2.91	-1.86	-15.23	-2.70
Net Cash from Financing Activities	-21.20	9.80	-69.90	-56.00	460.80	-31.11	-53.36	380.08	-17.07
Summary
Effect of Forex Changes on Cash	0.50	-4.40	1.90	-2.70	-1.40	1.40	-0.04	-0.35	0.16
Net Change in Cash	-2.10	6.90	-51.80	-107.70	266.20	37.74	18.39	75.84	15.84
Cash at Beginning of Period	313.90	307.00	358.80	466.50	200.30	162.53	144.15	68.31	52.47
Cash at End of Period	311.80	313.90	307.00	358.80	466.50	200.27	162.53	144.15	68.31
Free Cash Flow	15.30	1.50	60.10	-52.90	152.30	60.85	94.66	15.90	32.76
Supplemental Disclosures
Interest Paid	-	40.40	44.80	31.90	19.90	-	-	-	-
Income Taxes Paid	-	34.30	31.20	36.80	23.10	-	-	-	-

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

Frequently Asked Questions About Ultra Clean Holdings Cash Flow

What is Ultra Clean Holdings's free cash flow?

Ultra Clean Holdings generated free cash flow of $15.30M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $65.60M minus $50.30M of capital expenditures. That was up 920.0% from $1.50M a year earlier. Free cash flow equaled 0.7% of revenue.

How much does Ultra Clean Holdings spend on capital expenditures?

Ultra Clean Holdings spent $50.30M on capital expenditures in fiscal 2025, compared with $63.50M a year earlier. That equals 76.7% of operating cash flow.

Does Ultra Clean Holdings pay dividends or buy back shares?

Yes. In fiscal 2025 Ultra Clean Holdings returned $100.00K in dividends and $3.40M 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