High capital intensity remains a primary constraint, with CapEx/Revenue ratios reaching as high as 18.2% in 2024Q1, which frequently offsets operating cash flow generation.
| Cash from Operations | 63.05M | 64.31M | 86.9M | 96.88M | 76.69M | 75.83M | 78.97M | 30.69M | 39.62M | -461.94K | 35.76M |
| Operating CF Margin % | - | 16.37% | 20.41% | 21.91% | 19.11% | 24.01% | 25.95% | 10.85% | 16.29% | -0.22% | 20.74% |
| Operating CF Growth % | 106.09% | -25.99% | -10.3% | 26.31% | 1.13% | -3.97% | 157.29% | -22.53% | 8676.75% | -101.29% | - |
| Net Income | 9.12M | 6.37M | 16.21M | 31.79M | 28.68M | -15.07M | -61.25M | -32.49M | 28.38M | -317.67K | 6.27M |
| Depreciation & Amortization | 52.57M | 53.54M | 57.11M | 58.67M | 57.46M | 55.91M | 61.66M | 55.38M | 25.62M | 27.15M | 22.31M |
| Stock-Based Compensation | 2.78M | 2.05M | 2.39M | 3.85M | 5.03M | 6.59M | 11.45M | 3.65M | 281K | 362.35K | 109.42K |
| Deferred Taxes | 4.91M | 2.52M | 5.28M | 6.14M | 5.21M | 2.55M | -1.03M | -6.8M | -11.11M | 0 | 0 |
| Other Non-Cash Items | 4.77M | 7.09M | 3.15M | -2.33M | -4.8M | 26.56M | 60.27M | 148.1M | -466K | -595.03K | 5.12M |
| Working Capital Changes | -11.11M | -7.26M | 2.75M | -1.24M | -14.88M | -697K | 7.87M | -8.65M | -3.1M | 450.76K | 1.95M |
| Change in Receivables | -6.34M | 3.54M | 7.16M | 328K | -15.31M | -4.17M | 1.6M | -5.38M | -7.47M | 212.59K | -673.66K |
| Change in Inventory | -2.06M | -1.2M | 600K | -1.14M | -870K | -200K | 624K | -760K | -707K | -461.82K | -473.19K |
| Change in Payables | -3.04M | -1.52M | -1.68M | -464K | -3.04M | 3.97M | -796K | -7.96M | -1.83M | 0 | 0 |
| Cash from Investing | -49.12M | -37.3M | -32.13M | -44.16M | -124.12M | -56.56M | -35.85M | -375.24M | -49.5M | -234.6M | -28.97M |
| Capital Expenditures | -46.91M | -46.79M | -43.81M | -54.51M | -101.93M | -62.79M | -39.34M | -36.24M | -31.74M | -23.67M | -22.57M |
| CapEx % of Revenue | 11.45% | 11.91% | 10.29% | 12.32% | 25.4% | 19.88% | 12.93% | 12.81% | 13.05% | 11.21% | 13.09% |
| Acquisitions | -11.15M | 0 | 0 | 0 | -30.76M | 0 | 0 | -577.47M | 0 | -60.43M | -6.65M |
| Investments | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 8.93M | 9.49M | 11.68M | 10.35M | 8.57M | 6.23M | 3.49M | 238.47M | -17.76M | 1.01M | 247.04K |
| Cash from Financing | -13.13M | -25.76M | -28.77M | -44.3M | 45.98M | -15.95M | -43.93M | 346.26M | 13.01M | 235.89M | -14.81M |
| Debt Issued (Net) | 576K | 49.98M | -18.93M | -33.18M | 50.43M | -7.16M | -42.64M | 402.01M | 13.01M | 1.14M | -18.42M |
| Equity Issued (Net) | -12.82M | -14.17M | -10.16M | -10.51M | -4.15M | -330K | -131K | -24.93M | 0 | 235.89M | 0 |
| Dividends Paid | -53.13M | -53.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.84M | 0 |
| Share Repurchases | -12.82M | -14.17M | -10.16M | -10.51M | -4.15M | -330K | -131K | -24.93M | 0 | 0 | 0 |
| Other Financing | 52.24M | -8.44M | 326K | -613K | -304K | -8.46M | -1.16M | -30.82M | 0 | 3.7M | 3.61M |
| Net Change in Cash | 906K | 1.35M | 27.18M | 8.38M | -1.82M | 2.56M | -737K | -1.15M | 1.7M | -2.42M | -8.03M |
| Free Cash Flow | 16.14M | 17.53M | 43.09M | 41.57M | -26.69M | 12.29M | 39.63M | -5.55M | 7.88M | -24.13M | 13.19M |
| FCF Margin % | 3.94% | 4.46% | 10.12% | 9.4% | -6.65% | 3.89% | 13.02% | -1.96% | 3.24% | -11.43% | 7.65% |
| FCF Growth % | -69.97% | -59.32% | 3.66% | 255.77% | -317.09% | -68.98% | 814.59% | -170.37% | 132.66% | -283.01% | - |
| FCF per Share | 0.32 | 0.33 | 0.79 | 0.77 | -0.49 | 0.23 | 0.75 | -0.10 | 0.27 | -0.84 | 1.59 |
| FCF Conversion (FCF/Net Income) | 1.77x | 10.09x | 5.36x | 3.05x | 2.67x | -5.03x | -1.29x | -0.94x | 1.40x | 1.45x | 10.32x |
| Interest Paid | 0 | 0 | 23.93M | 0 | 0 | 17.37M | 33.1M | 0 | 22.17M | 0 | 0 |
| Taxes Paid | 0 | 0 | 3.42M | 0 | 0 | 994K | 3.35M | 0 | 1.07M | 0 | 0 |
High Fixed Cost Leverage
As reported in financial statements, BBCP consistently generates operating cash flow significantly higher than net income, with OCF/NI ratios frequently exceeding 3.0x, which suggests that non-cash depreciation charges on the company's extensive boom pump fleet are the primary driver of reported cash flow figures.
The persistent divergence between net income and operating cash flow indicates that GAAP earnings are heavily suppressed by non-cash amortization and depreciation. Investors should monitor whether this cash-generating capacity is sufficient to cover the company's ongoing capital intensity without relying on external financing.
Based on recent SEC filings, BBCP's free cash flow trajectory has been highly erratic, swinging from a peak of $26.4 million in 2024Q3 to negative territory in 2026Q2, illustrating the company's vulnerability to seasonal construction demand and the high capital requirements of its specialized equipment fleet.
The inability to maintain consistent positive free cash flow suggests that the business model is highly sensitive to revenue fluctuations. This volatility warrants further investigation into whether the company can sustain its current operational scale during prolonged periods of industry-wide construction slowdowns.
According to the provided quarterly data, BBCP maintains a high capital intensity, with CapEx/Revenue ratios reaching as high as 18.2% in 2024Q1, which indicates that a substantial portion of operating cash flow is immediately reinvested to maintain the functionality of its 820-unit boom pump fleet.
The high level of maintenance capital expenditure appears to be a structural necessity rather than a discretionary growth choice. This ongoing requirement for heavy reinvestment limits the company's ability to deleverage or return capital to shareholders during cyclical downturns.
As evidenced by the quarterly cash flow data, BBCP experiences significant working capital volatility, with changes ranging from a $10.3 million outflow in 2026Q2 to a $10.7 million inflow in 2024Q1, highlighting the challenges of managing collections and inventory in a project-based construction service environment.
These swings suggest that the timing of project payments and concrete pour schedules creates meaningful friction in cash conversion. Investors should monitor these fluctuations as they may indicate potential delays in receivables collection or inefficient inventory management during periods of declining revenue.
Quick answers to the most common questions about buying BBCP stock.
Concrete Pumping Holdings, Inc. (BBCP) generated $64.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Concrete Pumping Holdings, Inc. (BBCP) generated $17.5M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Concrete Pumping Holdings, Inc. (BBCP) spent $46.8M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Concrete Pumping Holdings, Inc. (BBCP) returned $53.1M to shareholders via cash dividends and spent $14.2M on share repurchases. This shows the company's commitment to returning capital to its equity investors.