Bristow Group (VTOL) Cash Flow: Operating & Free Cash Flow

Bristow Group 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 Bristow Group Inc. (VTOL) - 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	Mar 2022	Mar 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	129.43	94.87	-6.92	18.04	-15.71	-56.29	-3.59	-336.14	-28.62
Depreciation & Amortization	81.67	83.19	85.59	79.76	87.24	90.46	37.62	124.90	45.74
Deferred Income Tax	-10.02	-19.96	0.67	-5.32	-1.74	-15.47	-4.53	-14.45	-119.14
Stock Based Compensation	16.90	15.79	16.46	13.23	11.69	11.52	4.28	6.38	4.62
Change in Working Capital	-23.12	-0.70	-59.14	-101.66	5.70	16.92	3.72	-50.43	6.27
Change in Accounts Receivable	7.74	9.29	-27.02	-15.35	10.58	39.86	-1.14	19.20	0.00
Change in Inventory	-99.77	-44.72	-39.85	-82.14	15.92	13.50	-5.17	-5.93	0.00
Change in Accounts Payable	68.92	34.73	7.74	82.14	-20.81	-36.44	3.62	-63.69	6.27
Change in Other Working Capital	-99.77	0.00	-39.85	-86.31	0.00	0.00	6.40	0.00	-6.27
Other Operating Activities	-6.46	4.23	-3.95	-18.17	36.69	49.70	-9.94	160.30	111.22
Net Cash from Operating Activities	198.41	177.42	32.04	-14.13	123.85	96.85	27.55	-109.44	20.10
Investing Activities
Capital Expenditures	-142.02	-255.39	-81.51	-49.57	-31.07	-14.84	-6.56	-40.90	-16.77
Acquisitions	54.69	0.00	0.00	5.43	-0.85	120.24	13.25	0.97	0.00
Purchases of Investments	0.00	0.00	0.00	0.00	0.00	0.00	-5.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	0.00	0.00	0.00	0.00	39.14	0.00	0.00
Other Investing Activities	0.00	9.44	34.19	0.00	14.55	67.88	7.78	13.81	10.72
Net Cash from Investing Activities	-87.33	-245.95	-47.32	-44.14	-17.37	173.27	48.62	-26.12	-6.05
Financing Activities
Debt Repayment	-57.82	149.18	-142.05	-8.56	-19.21	-218.14	-2.06	-60.58	-28.28
Common Stock Issued	1.39	0.00	0.00	0.00	0.00	0.00	1.08	0.89	0.84
Common Stock Repurchased	-15.21	-4.05	-2.71	-11.35	-41.16	-15.31	-7.71	-2.16	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2.16	0.00
Other Financing Activities	-0.24	-4.02	-2.71	0.00	-3.11	-12.17	-0.74	-2.76	-27.50
Net Cash from Financing Activities	-66.05	141.10	22.04	-19.91	-63.48	-245.62	-9.43	-63.14	-27.50
Summary
Effect of Forex Changes on Cash	-2.68	-4.95	13.23	10.78	-8.07	7.46	3.42	-3.47	0.08
Net Change in Cash	42.35	67.62	19.98	-67.40	34.94	31.96	66.61	-202.17	-13.37
Cash at Beginning of Period	251.28	183.66	163.68	231.08	231.08	199.12	50.75	380.22	26.95
Cash at End of Period	293.63	251.28	183.66	163.68	266.01	231.08	117.37	178.06	13.58
Free Cash Flow	56.39	-77.97	-49.47	-63.70	92.79	82.00	20.99	-150.34	3.33
Supplemental Disclosures
Interest Paid	-	43.27	39.48	32.03	32.31	-	-	-	-
Income Taxes Paid	-	20.78	19.28	11.95	15.11	-	-	-	-

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

Frequently Asked Questions About Bristow Group Cash Flow

What is Bristow Group's free cash flow?

Bristow Group generated free cash flow of $56.38M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $198.41M minus $142.02M of capital expenditures. Free cash flow equaled 3.8% of revenue.

How much does Bristow Group spend on capital expenditures?

Bristow Group spent $142.02M on capital expenditures in fiscal 2025, compared with $255.39M a year earlier. That equals 71.6% of operating cash flow.

Does Bristow Group pay dividends or buy back shares?

Yes. In fiscal 2025 Bristow Group returned $15.21M 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