Cash flow generation remains highly erratic, highlighted by a massive $729 million working capital outflow in 2024Q2 and a decline in cash reserves to $563 million by 2026Q1.
| 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 |
|---|
| Cash from Operations | 376M | 264M | -633M | 556M | 755M | 814M | 807M | 650M | 1.14B | 639M | 594M | 182M | 505M | 798M | 1.39B |
| Operating CF Margin % | - | 4.55% | -10.95% | 9.15% | 11.05% | 12.83% | 16.24% | 11.76% | 17.17% | 10.33% | 11% | 3.18% | 7.85% | 11.63% | 18.87% |
| Operating CF Growth % | 219.31% | 141.71% | -213.85% | -26.36% | -7.25% | 0.87% | 24.15% | -42.98% | 78.4% | 7.58% | 226.37% | -63.96% | -36.72% | -42.59% | - |
| Net Income | -411M | -386M | 86M | -238M | 578M | 608M | 219M | -52M | 996M | 747M | 7M | -90M | 401M | 424M | 1.06B |
| Depreciation & Amortization | 250M | 340M | 301M | 307M | 291M | 317M | 320M | 311M | 284M | 273M | 284M | 267M | 257M | 261M | 266M |
| Stock-Based Compensation | 19M | 0 | 15M | 19M | 27M | 34M | 16M | 19M | 24M | 29M | 19M | 17M | 7M | 6M | 0 |
| Deferred Taxes | 68M | 64M | -27M | -158M | 20M | -77M | -120M | -165M | 23M | 83M | -111M | -198M | -22M | -14M | 15M |
| Other Non-Cash Items | 42M | 68M | 44M | 6M | -58M | -89M | 16M | 399M | 32M | 57M | 196M | 221M | 18M | 6M | 47M |
| Working Capital Changes | 393M | 178M | -1.05B | 620M | -103M | 21M | 356M | 138M | -206M | -466M | 484M | -27M | -110M | 122M | -2M |
| Change in Receivables | 217M | 106M | -152M | 0 | 91M | -225M | 12M | 191M | 47M | -88M | 5M | -64M | 4M | -37M | 137M |
| Change in Inventory | -25M | 0 | -146M | 58M | -294M | -210M | 126M | 116M | -297M | -208M | 147M | 19M | -29M | -75M | -94M |
| Change in Payables | -118M | -165M | -9M | -72M | 105M | 281M | 55M | -169M | 44M | -170M | 332M | 18M | -85M | 234M | -45M |
| Cash from Investing | -164M | -206M | -353M | -229M | -284M | 220M | -234M | -483M | -487M | -370M | 357M | -497M | -560M | -424M | -429M |
| Capital Expenditures | -178M | -213M | -360M | -370M | -307M | -277M | -267M | -481M | -498M | -411M | -338M | -519M | -604M | -438M | -432M |
| CapEx % of Revenue | 3.06% | 3.67% | 6.23% | 6.09% | 4.49% | 4.37% | 5.37% | 8.7% | 7.5% | 6.65% | 6.26% | 9.08% | 9.39% | 6.39% | 5.87% |
| Acquisitions | 0 | 7M | 0 | 0 | 0 | 0 | 5M | -10M | -37M | 39M | -1M | -32M | -8M | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 14M | 0 | 7M | 141M | 23M | 509M | 6M | 10M | 46M | 39M | 708M | 12M | 52M | 14M | 3M |
| Cash from Financing | -88M | -126M | -36M | 172M | -686M | -554M | -449M | -419M | -993M | 353M | -396M | 687M | 55M | -374M | -961M |
| Debt Issued (Net) | -49M | -60M | 95M | 393M | -80M | -208M | -149M | 88M | -159M | 468M | -381M | 3.48B | 0 | 0 | -1M |
| Equity Issued (Net) | 0 | 0 | 0 | -88M | -495M | -173M | -2M | -322M | -628M | -75M | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -54M | -78M | -148M | -149M | -154M | -164M | -164M | -164M | -148M | -22M | -22M | -105M | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -69M | -495M | -173M | -2M | -322M | -644M | -106M | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 15M | 12M | 17M | 16M | 43M | -9M | -134M | -21M | -58M | -18M | 7M | -2.69B | 55M | -374M | -960M |
| Net Change in Cash | 101M | -41M | -1.04B | 503M | -247M | 446M | 162M | -258M | -355M | 654M | 536M | 366M | 0 | 0 | 0 |
| Free Cash Flow | 198M | 51M | -993M | 186M | 448M | 537M | 540M | 169M | 642M | 228M | 256M | -337M | -99M | 360M | 958M |
| FCF Margin % | 3.4% | 0.88% | -17.17% | 3.06% | 6.56% | 8.46% | 10.87% | 3.06% | 9.67% | 3.69% | 4.74% | -5.89% | -1.54% | 5.25% | 13.01% |
| FCF Growth % | 124.84% | 105.14% | -633.87% | -58.48% | -16.57% | -0.56% | 219.53% | -73.68% | 181.58% | -10.94% | 175.96% | -240.4% | -127.5% | -62.42% | - |
| FCF per Share | 1.32 | 0.34 | -6.62 | 1.25 | 2.83 | 3.18 | 3.25 | 1.03 | 3.52 | 1.19 | 1.40 | -1.86 | -0.54 | 1.97 | 5.24 |
| FCF Conversion (FCF/Net Income) | -0.48x | -0.68x | -7.36x | -2.34x | 1.31x | 1.34x | 3.68x | -12.50x | 1.15x | 0.86x | 84.86x | -2.02x | 1.26x | 1.89x | 1.32x |
| Interest Paid | 0 | 0 | 267M | 223M | 164M | 180M | 208M | 204M | 206M | 208M | 208M | 103M | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 73M | 54M | 131M | 149M | 78M | 85M | 75M | 79M | 50M | 53M | 0 | 0 | 0 |
Legacy environmental liability outflows
As reported in financial statements, the relationship between net income and operating cash flow is highly erratic, with OCF/NI ratios swinging from -26.78 in 2023Q4 to 28.00 in 2025Q1, suggesting that accounting accruals and non-cash charges frequently decouple headline earnings from actual cash generation.
The extreme variance in the OCF/NI ratio indicates that net income is a poor proxy for the company's underlying cash-generating capacity. Investors should monitor whether these discrepancies stem from recurring litigation accruals or structural working capital inefficiencies that mask the true cash-flow profile of the business.
Based on quarterly data, free cash flow has exhibited significant instability, ranging from a peak of $347 million in 2023Q4 to a trough of -$693 million in 2024Q2, highlighting a precarious trajectory that appears heavily influenced by non-operational cash outflows and cyclical demand shifts.
The inability to maintain consistent positive free cash flow suggests that the company's core operations may be struggling to cover both capital expenditures and legacy obligations. This trend warrants further investigation into whether the current FCF margin compression is a temporary cyclical phenomenon or a permanent structural impairment.
According to recent SEC filings, the company's capital intensity, measured by CapEx/Revenue, has fluctuated between 2.7% and 9.6% over the last ten quarters, indicating that the firm remains tethered to a high-maintenance asset base that demands significant reinvestment even during periods of negative net income.
The persistent level of capital expenditure relative to revenue suggests that the company is forced to prioritize maintenance spending to sustain its chloride-route manufacturing processes. This capital intensity limits the firm's ability to pivot toward higher-growth segments without further straining its already vulnerable balance sheet.
As evidenced by the provided cash flow data, working capital changes have been a primary source of volatility, with a massive $729 million outflow in 2024Q2 followed by a $298 million inflow in 2025Q2, suggesting significant friction in inventory management and accounts receivable collection cycles.
These dramatic swings in working capital appear to be the primary driver of the company's erratic operating cash flow performance. Such instability suggests that the firm may be struggling to align its production schedules with volatile end-market demand, potentially leading to inefficient cash conversion cycles.
Quick answers to the most common questions about buying CC stock.
The Chemours Company (CC) generated $264.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
The Chemours Company (CC) generated $51.0M 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.
The Chemours Company (CC) spent $213.0M 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, The Chemours Company (CC) returned $78.0M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.