Liquidity remains under pressure as the firm struggles with negative free cash flow, evidenced by a -$4.4M outflow in 2025Q4 and a chronic OCF/NI ratio of -1.08 in 2026Q1.
Beasley Broadcast Group, Inc. (BBGI) cash flow statement — 28-year operating, investing & financing cash flows
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Cash from Operations | -23.3M | -8.47M | -3.71M | -4.68M | 11.15M | -1.91M | 4.21M | 20.99M | 24.39M | 28.02M | 17.15M | 14.37M | 16.91M | 19.91M | 20.4M | 20.67M | 16.41M | 11.59B | 22.24M | 18.86M | 19.21M | 20.47M | 24.74M | 20.34M | 13.27M | 9.36M | 7.7M | 7.2M | 4.9M |
| Operating CF Margin % | - | -4.11% | -1.54% | -1.89% | 4.35% | -0.79% | 2.04% | 8.03% | 9.47% | 12.07% | 12.55% | 13.57% | 28.81% | 18.98% | 20.36% | 21.16% | 16.75% | 11982.82% | 18.32% | 14.08% | 15.34% | 16.47% | 20.24% | 17.77% | 11.57% | 8.12% | 7.26% | 7.69% | 6.02% |
| Operating CF Growth % | -602% | -128.16% | 20.66% | -141.97% | 684.47% | -145.26% | -79.92% | -13.95% | -12.94% | 63.38% | 19.34% | -15.03% | -15.06% | -2.41% | -1.28% | 25.93% | -99.86% | 52017.79% | 17.96% | -1.84% | -6.14% | -17.26% | 21.63% | 53.32% | 41.72% | 21.48% | 7.08% | 46.84% | - |
| Net Income | -190.65M | -196.55M | -5.89M | -75.12M | -42.06M | -1.54M | -18.87M | 13.38M | 6.48M | 87.13M | 47.49M | 6.36M | 40M | 11.55M | 11.03M | 10.1M | 7.99M | 3.45M | -30.55M | 4.77M | 10.13M | 10.71M | 12.03M | 12.5M | -3.08M | -21.76M | -29.6M | -3.85M | -5.3M |
| Depreciation & Amortization | 6.37M | 6.33M | 7.24M | 8.81M | 9.92M | 11.31M | 11.1M | 7.35M | 6.6M | 6.13M | 6.23M | 3.83M | 2.53M | 2.22M | 2.1M | 2.39M | 2.65M | 2.89M | 3.23M | 3.39M | 3.15M | 3.35M | 3.28M | 3.57M | 3.73M | 27.55M | 17.41M | 16.41M | 16.1M |
| Stock-Based Compensation | 131.68K | 202.8K | 893.29K | 846.38K | 1.06M | 1.38M | 750.67K | 2.12M | 1.95M | 1.75M | 809.37K | 1.11M | 1.32M | 693.1K | 434.07K | 619.1K | 738.86K | 1M | 1.64M | 0 | 2.15B | 1.1B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | -43.45M | -44.66M | -8.46M | -25.92M | -18.16M | -5.32M | -129K | -1.75M | 7.75M | -46.05M | 5.96M | 2.01M | 24.34M | 3.66M | 3.87M | 5.13M | 6.14M | 4.51M | -16.64M | 4.14M | 5.32M | 3.52M | 6.71M | 8.48M | 5.48M | 0 | 25.4M | 0 | 0 |
| Other Non-Cash Items | 105.12M | 218.65M | -4.23M | 90.45M | 50.91M | -4.67M | 11.3M | -4.16M | 8.37M | -19.75M | -42.14M | 5.61M | -53.17M | 2.27M | 2.56M | 1.56M | 1.73M | 11.58B | 65.39M | 6.26M | -2.15B | -1.09B | 1.68M | -7.05M | 10.49M | 14.03M | 2.4M | -2.1M | -7.5M |
| Working Capital Changes | 14.73M | 7.55M | 6.74M | -3.74M | 9.47M | -3.08M | 68.51K | 4.05M | -6.75M | -1.18M | -1.21M | -4.56M | 1.89M | -481.18K | 412.56K | 870.97K | -2.83M | -1.37M | -826.77K | 412.25K | -1.31M | 166.58K | 1.04M | 2.56M | -2.7M | -10.47M | -7.91M | -3.27M | 1.6M |
| Change in Receivables | 10.83M | 3.37M | 972.58K | 1.62M | -4.41M | -4.73M | 1.98M | -2.85M | -12.59M | 4.05M | -510.8K | -2.91M | -1.03M | 178.35K | -1.64M | -698.21K | -1.75M | 0 | 0 | 0 | 0 | 0 | 138.43M | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -38.01M | -62.69M | -74M | -28.55M | -18.03M | -22.71M | -18.96M | 149.37K | 89.02K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -11.84M | 4.79M | 6.74M | -5.05M | 12.35M | -5.4M | 2.07M | 712.26K | 1.76M | 1.76M | 3.83M | 706.57K | -554.7K | 518.72K | 249.63K | 218.07K | -1.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 22.13M | 5.64M | 4.32M | 6.87M | -14.18M | -1.14M | -3.85M | -4.96M | -45.61M | 17.52M | -89.62M | 55.47K | -2.93M | -6.66M | -3.79M | -2.33M | -906.42K | 14.53B | -1.41M | -47.91M | -24.79M | -2.4M | -3.71M | 8.41M | 18.36M | -133.35M | -29.06M | -2.76M | -12.5M |
| Capital Expenditures | -4.48M | -4.84M | -3.01M | -4.19M | -13.36M | -4.5M | -7.48M | -9.03M | -4.41M | -17.33M | -3.44M | -2.52M | -3.2M | -6.9M | -3.9M | -1.44M | -1.16M | -958K | -1.62M | -3.28M | -4.78M | -3.18M | -3.85M | -1.37M | -2.12M | -2.69M | -3.64M | -2.03M | -20.5M |
| CapEx % of Revenue | 2.24% | 2.35% | 1.25% | 1.7% | 5.21% | 1.86% | 3.63% | 3.45% | 1.71% | 7.46% | 2.51% | 2.38% | 5.46% | 6.58% | 3.89% | 1.48% | 1.18% | 0.99% | 1.33% | 2.45% | 3.82% | 2.56% | 3.15% | 1.2% | 1.85% | 2.33% | 3.43% | 2.16% | 25.18% |
| Acquisitions | 29.79M | 10.47M | 1.31M | 11.06M | -814.69K | 362.5K | 4.63M | 9.08M | -39.52M | 35M | -86.76M | 1.74M | 0 | -4M | 0 | 0 | 0 | 0 | 0 | -44.82M | -22.16M | 0 | -300M | 0 | 0 | -128.31M | -34.78M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -3.19M | 0 | 0 | 0 | 0 | 3M | 0 | -9.03M | -4.41M | 34.85M | 1.24M | 2.74M | 375.38K | 350.56K | 283.59K | 267.11K | 251.6K | 14.53B | 205.52K | 181.28K | 169.45K | 620K | 147.32K | 4.99M | 19.78M | -2.35M | 9.41M | -734.28K | 8M |
| Cash from Financing | -5.85M | -1M | -13.57M | -14.99M | -8.81M | 33.66M | 1.74M | -10.82M | 20.73M | -51.95M | 78.48M | -14.37M | -14.02M | -10.62M | -18.57M | -15.39M | -10.74M | -23.68B | -23.93M | 27.06M | -2.15M | -16.64M | -13.91M | -26.46M | -31.18M | 123.24M | 20.09M | -2.19M | 4.7M |
| Debt Issued (Net) | -3.69M | -975K | -12.5M | -14.91M | -8.68M | 41.43M | 7.19M | -5.07M | 26.94M | -43.06M | 96.76M | -8.69M | -9.18M | -9.88M | -12.48M | -15.26M | -9.84M | -23.52M | -16.56M | 36.41M | 9.79M | -14.8M | -11M | -26.37M | -29.14M | 123.24M | -71.31M | -17.97K | 11.2M |
| Equity Issued (Net) | 551.96K | -29.53K | 601.3K | -83.88K | -133.94K | -162.91K | -65.95K | -214.74K | -265.11K | -1.11M | -198.15K | -254.41K | -377.48K | -190.45K | -111.85K | -214.14K | -291.73K | -166.18K | -1.84M | -3.5M | -5.92M | -1.84M | -606.71K | 18.38K | 0 | 0 | 96.4M | 2.76M | 1.1M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | -2.8M | -5.54M | -5.39M | -5.14M | -4.14M | -4.12M | -4.1M | -1.02M | -1.93M | 0 | 0 | 0 | -5.53M | -5.85M | -5.99M | 0 | 0 | 0 | 0 | 0 | -2.25M | -4.94M | -6M |
| Share Repurchases | -83.63K | -29.53K | -98.7K | -83.88K | -133.94K | -162.91K | -65.95K | -214.74K | -265.11K | -1.11M | -198.15K | -254.41K | -377.48K | -190.45K | -111.85K | -214.14K | -291.73K | -166.18K | -1.84M | -3.5M | -5.92M | -1.87M | -623.21K | 0 | 0 | 0 | -2.61M | 0 | -500K |
| Other Financing | -2.71M | 0 | -1.67M | 0 | 0 | -7.6M | -2.58M | 0 | -553.06K | -2.64M | -13.95M | -1.3M | -359.21K | -554.63K | -4.04M | 80.1K | -610.16K | 0 | 0 | 0 | -21.73K | 0 | -2.3M | -107.38K | -2.04M | 0 | -2.74M | 0 | -1.6M |
| Net Change in Cash | -7.02M | -3.84M | -12.96M | -12.8M | -11.84M | 30.62M | 2.11M | 5.21M | -488.56K | -6.4M | 6.01M | 59.05K | -39.57K | 2.64M | -1.95M | 2.95M | 4.77M | 2.44M | -3.1M | -2M | -7.73M | 1.43M | 7.12M | 2.28M | 449.08K | -744.1K | -1.26M | 2.24M | -2.9M |
| Free Cash Flow | -28.21M | -13.3M | -6.73M | -8.87M | -2.22M | -6.41M | -3.26M | 11.96M | 19.98M | 10.69M | 13.72M | 11.85M | 13.71M | 13.01M | 16.5M | 19.22M | 15.25M | 11.59B | 20.63M | 15.58M | 14.43M | 17.29M | 20.88M | 18.96M | 11.15M | 6.67M | 4.06M | 5.17M | -15.6M |
| FCF Margin % | -14.13% | -6.46% | -2.8% | -3.59% | -0.86% | -2.65% | -1.58% | 4.57% | 7.76% | 4.61% | 10.04% | 11.19% | 23.36% | 12.4% | 16.46% | 19.68% | 15.57% | 11981.83% | 16.98% | 11.64% | 11.53% | 13.91% | 17.09% | 16.56% | 9.72% | 5.79% | 3.83% | 5.52% | -19.16% |
| FCF Growth % | -210.38% | -97.82% | 24.16% | -300.2% | 65.41% | -96.33% | -127.28% | -40.14% | 86.85% | -22.03% | 15.73% | -13.56% | 5.37% | -21.14% | -14.17% | 26.02% | -99.87% | 56101.24% | 32.38% | 7.95% | -16.52% | -17.21% | 10.13% | 70.13% | 67.06% | 64.22% | -21.41% | 133.14% | - |
| FCF per Share | -15.72 | -7.40 | -4.26 | -5.93 | -1.50 | -4.34 | -2.30 | 8.61 | 14.51 | 7.69 | 11.45 | 0.51 | 0.60 | 0.57 | 0.73 | 0.85 | 0.68 | 516.69 | 0.89 | 0.66 | 0.60 | 0.71 | 0.85 | 0.78 | 0.46 | 0.27 | 0.17 | 0.30 | -0.87 |
| FCF Conversion (FCF/Net Income) | 0.15x | 0.04x | 0.63x | 0.06x | -0.27x | 1.36x | -0.24x | 1.56x | 3.76x | 0.32x | 0.36x | 2.26x | 0.42x | 1.72x | 1.85x | 2.05x | 2.06x | 3362.14x | -0.73x | 3.95x | 1.90x | 1.91x | 2.06x | 1.59x | -3.56x | -0.43x | -0.26x | -1.87x | -0.92x |
| Interest Paid | 12.63M | 16.96M | 27.25M | 25.22M | 25.56M | 14.7M | 14.44M | 16.38M | 13.99M | 15.89M | 5.85M | -3.6M | 4.01M | 6.62M | 6.2M | 6.99M | 9.7M | 9.87M | 8.78M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 2.72M | 3.87M | 2.91M | 1.4M | 1.55M | 1.53M | 965.03K | 4.25M | 928.75K | 2.02M | 2.65M | -5.17M | 2.71M | 3.83M | 3.32M | 1.15M | 629.21K | 543.99K | 1.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying BBGI stock.
Beasley Broadcast Group, Inc. (BBGI) generated $-8.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Beasley Broadcast Group, Inc. (BBGI) reported negative free cash flow of $13.3M in 2025, indicating capital requirements exceeded cash from operations.
Beasley Broadcast Group, Inc. (BBGI) spent $4.8M 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, Beasley Broadcast Group, Inc. (BBGI) spent $0.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.
Key Metrics
Top Statement Risk
Liquidity and structural decline
Metrics are mathematically derived from official filings.
Persistent Disconnect Between Earnings Cash
As reported in recent financial statements, BBGI exhibits a chronic inability to convert net income into operating cash flow, with the OCF/NI ratio frequently reaching extreme negative levels, such as the -1.08 observed in 2026Q1, highlighting a fundamental breakdown in the company's core cash generation efficiency.
The wide variance between reported net income and operating cash flow suggests that non-cash charges and working capital volatility are masking the underlying cash burn. Investors should monitor whether this divergence is a permanent feature of the company's high-fixed-cost broadcasting model or a temporary byproduct of aggressive restructuring efforts.
Negative Free Cash Flow Trajectory
Based on the company's quarterly filings, the free cash flow trajectory remains deeply concerning, with the firm reporting negative FCF in seven of the last ten quarters, including a -$4.4M outflow in 2025Q4, which underscores the difficulty of funding operations through internal cash generation alone.
The inability to sustain positive free cash flow suggests that the company's current capital intensity is misaligned with its declining revenue base. This trend appears to leave the firm increasingly reliant on external financing or asset divestitures to maintain its current operational footprint.
Working Capital Volatility Masks Burn
According to historical cash flow data, BBGI's operating cash flow is heavily influenced by erratic working capital swings, such as the $4.9M inflow in 2026Q1, which often obscures the underlying cash burn occurring within the company's core terrestrial and digital advertising business segments.
These periodic working capital benefits appear to be temporary timing differences rather than sustainable improvements in collection efficiency. The reliance on these fluctuations to bolster cash flow suggests that the company's underlying liquidity position is more fragile than headline figures might imply.
Capital Deployment Amidst Cash Scarcity
As evidenced by recent cash flow statements, BBGI has continued to engage in minor share repurchases despite persistent negative operating cash flow, with $1.7K utilized in 2026Q1, a decision that warrants further investigation given the company's limited cash reserves and ongoing operational losses.
The allocation of capital toward share repurchases while the core business is burning cash appears counterintuitive and may signal a disconnect between management's capital allocation priorities and the firm's immediate liquidity needs. This strategy risks further depleting the company's already thin cash buffer.