Emergent BioSolutions Inc. (EBS) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | -33.8M | 77.7M | -2.3M | 106.4M | -11.2M | -79.9M | 153.7M | 47.5M | -62.6M | 32.1M | 60M | -114.4M | -184M | 92.8M | -74M | -15.6M | -37.3M | 329M | 16.7M | -29.7M |
| Operating CF Margin % | -21.65% | 52.25% | -1% | 75.51% | -5.04% | -41.04% | 52.31% | 18.65% | -20.84% | 11.61% | 22.18% | -33.86% | -111.99% | 28.1% | -30.85% | -6.5% | -12.13% | 45.49% | 5.08% | -7.47% |
| Operating CF Growth % | -201.79% | 197.25% | -101.5% | 124% | 82.11% | -348.91% | 156.17% | 141.52% | 65.98% | -65.41% | 181.08% | -633.33% | -393.3% | -71.79% | -543.11% | 47.47% | -831.37% | 34.23% | -84.13% | -123.22% |
| Net Income | 6.8M | -54.6M | 51.2M | -12M | 68M | -31.3M | 114.8M | -283.1M | 9M | -49.5M | -263.4M | -261.3M | -186.2M | -88M | -84.5M | -56.4M | -3.7M | 189.3M | -32.7M | 4.6M |
| Depreciation & Amortization | 23.5M | 23.5M | 23.4M | 23.5M | 25.4M | 26M | 26.4M | 28.5M | 27.9M | 29.6M | 28M | 32.9M | 35.7M | 35.6M | 32.2M | 44.5M | 30.9M | 29.2M | 32.7M | 33.2M |
| Stock-Based Compensation | 1.9M | 5.3M | 4.8M | 4.6M | 1.5M | 4.3M | 2.3M | 5.5M | 5.9M | 4M | 4M | 8.3M | 6.8M | 11.7M | 11.2M | 12.3M | 9.9M | 10.1M | 10.4M | 11.4M |
| Deferred Taxes | -4.5M | 1.5M | -10.2M | -13.9M | 18.6M | -400K | 7.3M | -200K | -12.2M | -5.2M | 2.7M | -1.8M | -4.7M | -42M | 22.9M | 700K | 1.9M | 46.3M | 3.8M | -1.5M |
| Other Non-Cash Items | -9.7M | 20M | 9.9M | 8.5M | -6M | 6.8M | -62.7M | 90.9M | 4.3M | 6.7M | 222.9M | 261M | 7.3M | 1.3M | 12.5M | 3.9M | 2.1M | -63.4M | 91.2M | 100K |
| Working Capital Changes | -51.8M | 82M | -81.4M | 95.7M | -118.7M | -85.3M | 65.6M | 205.9M | -97.5M | 46.5M | 65.8M | -145.2M | -36.1M | 174.2M | -68.3M | -20.6M | -78.4M | 117.5M | -88.7M | -77.5M |
| Change in Receivables | -38.9M | 51.9M | -71.6M | 118.5M | -73.3M | -77.1M | 82.3M | 20.4M | -50M | 36.9M | 71.3M | -132.4M | 2.6M | 38.5M | -15.2M | 4M | 93.7M | 66.5M | -80M | -76.8M |
| Change in Inventory | 15.8M | 14.2M | -17.6M | -24.7M | -2.2M | 11M | -18M | -13M | -4.5M | 25.6M | -100K | 5.8M | -30.7M | 60.3M | -27.3M | -25.4M | -50.1M | 14M | 21.7M | 20.2M |
| Change in Payables | -14.4M | 11.4M | -4M | -10.4M | -5.4M | -10.2M | -23M | 2.6M | -2.4M | -7.1M | 6.8M | -20.1M | 31M | -5M | -4.2M | 7.1M | -14.7M | -6M | -4.5M | -12.1M |
| Cash from Investing | -2.4M | -3.9M | -3.4M | 17.2M | 59.5M | 28.6M | 112M | -4.6M | -10.8M | -11.4M | -18.9M | 257.7M | -15.1M | -45.4M | -271.6M | -32.1M | -32.2M | -46.7M | -55.2M | -67M |
| Capital Expenditures | -2.4M | -3.9M | -3.4M | -2.9M | -3.6M | -1.7M | -5.8M | -4.6M | -10.8M | -11.4M | -12.6M | -12.5M | -15.1M | -23.6M | -27.9M | -32.1M | -32.2M | -46.7M | -55.2M | -67M |
| CapEx % of Revenue | 1.54% | 2.62% | 1.47% | 2.06% | 1.62% | 0.87% | 1.97% | 1.81% | 3.6% | 4.12% | 4.66% | 3.7% | 9.19% | 7.15% | 11.63% | 13.38% | 10.47% | 6.46% | 16.78% | 16.86% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 300K | 0 | 0 | 0 | 0 | 0 | 270.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 20.1M | 63.1M | 30M | 117.8M | 0 | 0 | 0 | -6.3M | 0 | 0 | -21.8M | -243.7M | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -11.4M | -113.9M | -15.9M | -6.4M | -400K | 500K | -180.3M | -50.9M | 40.7M | 4.7M | -43M | -486.9M | -10.5M | 353.1M | 229.3M | -30.7M | -70.5M | -110M | -5M | -3.8M |
| Debt Issued (Net) | 0 | -105.6M | -6.9M | 0 | 0 | 0 | -194M | -51.4M | 41.1M | 4.1M | -42.9M | -496.2M | -8.4M | 351.5M | -8.4M | -8.4M | -8.5M | -8.4M | -5.6M | -5.7M |
| Equity Issued (Net) | -8.6M | -7.9M | -8.7M | -6.2M | 100K | 800K | 9.3M | 700K | -400K | 200K | -100K | 9.5M | 0 | -200K | -300K | -24.4M | -57.5M | -102.6M | 12.5M | -30M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -9M | -9.1M | -8.9M | -6.9M | 0 | 0 | 0 | 0 | -400K | 0 | -100K | 0 | 0 | -200K | -300K | -24.4M | -57.5M | -106.3M | 0 | 0 |
| Other Financing | -2.8M | -400K | -300K | -200K | -500K | -300K | 4.4M | -200K | -400K | 400K | -100K | -200K | -2.1M | 1.8M | 238M | 2.1M | -4.5M | 1M | -11.9M | 31.9M |
| Net Change in Cash | -47.6M | -40.1M | -21.8M | 118.2M | 47.2M | -50.8M | 85.4M | -8M | -32.7M | 23.9M | -800K | -341.6M | -212.4M | 401.6M | -117.3M | -77.7M | -140.3M | 172.3M | -43.7M | -100.3M |
| Free Cash Flow | -36.2M | 73.8M | -5.7M | 103.5M | -14.8M | -81.6M | 147.9M | 42.9M | -73.4M | 20.7M | 47.4M | -126.9M | -199.1M | 47.4M | -101.9M | -47.7M | -69.5M | 282.3M | -38.5M | -96.7M |
| FCF Margin % | -23.19% | 49.63% | -2.47% | 73.46% | -6.66% | -41.91% | 50.34% | 16.84% | -24.43% | 7.48% | 17.52% | -37.56% | -121.18% | 14.35% | -42.48% | -19.88% | -22.6% | 39.03% | -11.7% | -24.33% |
| FCF Growth % | -144.59% | 190.44% | -103.85% | 141.26% | 79.84% | -494.2% | 212.03% | 133.81% | 63.13% | -56.33% | 146.52% | -166.04% | -186.47% | -83.21% | -164.68% | 50.67% | -36.27% | 35.01% | -164.71% | -204.2% |
| FCF per Share | -0.64 | 1.41 | -0.10 | 1.91 | -0.26 | -1.51 | 2.66 | 0.82 | -1.41 | 0.40 | 0.92 | -2.50 | -3.97 | 0.95 | -2.04 | -0.95 | -1.37 | 5.28 | -0.72 | -1.79 |
| FCF Conversion (FCF/Net Income) | -4.97x | -1.42x | -0.04x | -8.87x | -0.16x | 2.55x | 1.34x | -0.17x | -6.96x | -0.65x | -0.23x | 0.44x | 0.99x | -1.39x | 0.85x | 0.29x | 10.08x | 1.74x | -0.51x | -6.46x |
| Interest Paid | 13.1M | 8M | 16.9M | 8.1M | 16.7M | 8.2M | 19.8M | 14.5M | 21.5M | 11.8M | 17.7M | 17.2M | 21.6M | 6.3M | 11.9M | 3.1M | 11.7M | 3.1M | 11.8M | 3.1M |
| Taxes Paid | 5.3M | 12.5M | 10.9M | 2.1M | 14.5M | -9M | 9.6M | 13.5M | 12.4M | 14.5M | 11.4M | 10.2M | 16.7M | -17.7M | 3.9M | 15.2M | 4.8M | 14M | 7.3M | 48.8M |