Maxeon Solar Technologies, Ltd. (MAXN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | 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 | Q1'21 | Q4'20 | Q3'20 |
|---|
| Cash from Operations | -47.63M | 0 | -7.05M | -115.93M | -74.27M | -72.91M | -76.41M | -151.57M | -2.85M | -23.45M | 39.73M | -39.99M | -10.99M | 14.69M | 23.61M | -10.6M | 32.95M | -50.82M | -61.86M | -51.09M |
| Operating CF Margin % | -244.03% | - | -14.44% | -130.91% | -40.32% | -38.89% | -33.4% | -66.59% | -0.82% | -7.37% | 12.28% | -14.52% | -4.61% | 6.58% | 10.66% | -4.81% | 18.73% | -30.72% | -25.19% | -24.73% |
| Operating CF Growth % | 35.86% | 100% | 90.78% | 23.51% | -2502.31% | -210.83% | -292.34% | -279.03% | 74.02% | -259.72% | 68.29% | -277.41% | -133.35% | 128.89% | 138.16% | 79.26% | 87.19% | 45.82% | -761.06% | - |
| Net Income | -32.73M | 0 | -105.83M | -439.63M | 11.09M | -80.2M | -186.29M | -108.38M | -1.46M | 20.42M | -75.71M | -44.48M | -87.77M | -59.2M | -73.59M | -66.01M | -77.42M | -38.72M | 3.48M | -67.21M |
| Depreciation & Amortization | 1.23M | 0 | 6.3M | 16.05M | 10.56M | 10.56M | 12.3M | 14.54M | 14.59M | 14.45M | 13.96M | 13.89M | 15.38M | 12.99M | 12.12M | 11.07M | 9.74M | 9.29M | 9.11M | 9.85M |
| Stock-Based Compensation | 3.46M | 0 | 10.7M | 5.89M | 5.24M | 6.88M | 1.18M | 4.89M | 7.6M | 4.66M | 3.56M | 6.17M | 2.15M | 2.7M | 2.03M | 1.8M | 1.89M | 1.5M | 1.51M | 1.92M |
| Deferred Taxes | 0 | 0 | -18.07M | 17.72M | -7K | 0 | 2.91M | -12K | -648K | 188K | 6.06M | 2.06M | 384K | 91K | 3.66M | 1.21M | 1.64M | -919K | -2.04M | -136K |
| Other Non-Cash Items | -27.37M | 0 | 30.81M | 361.39M | -73.11M | 23.8M | 98.8M | 51.07M | -2.11M | -31.36M | 36.05M | -3.09M | 18.25M | 7.03M | 24.32M | 10.71M | 33.74M | -1.68M | -35.13M | 8.57M |
| Working Capital Changes | 7.77M | 0 | 69.03M | -77.35M | -28.03M | -33.94M | -5.31M | -113.68M | -20.83M | -31.82M | 55.8M | -14.56M | 40.62M | 51.08M | 55.07M | 30.63M | 63.36M | -20.3M | -38.78M | -4.08M |
| Change in Receivables | -4.56M | 0 | 7.43M | 12.93M | 6.71M | 15.49M | 29.02M | -13.5M | -5.96M | -17.89M | 3.8M | -1.42M | -6.44M | -12.29M | 19.89M | -10.71M | 13.75M | 15.51M | -4.63M | 12.88M |
| Change in Inventory | 11.91M | 0 | 26.1M | -36.47M | 24.28M | 36.15M | 67.17M | -44.94M | -41.24M | -24.46M | -18.64M | -33.85M | -28.38M | -51.65M | 7.39M | -8.77M | -12.33M | -29.79M | 9.86M | 7.48M |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 41.54M | 0 | -2.31M | -11.29M | 7.03M | -18.68M | 52.9M | -14.16M | -84.19M | 59.37M | -7.27M | -92.15M | -18.19M | -21.69M | -38.68M | -52.96M | -51.85M | -10.96M | -40.08M | 1.63M |
| Capital Expenditures | -634K | 0 | -4.1M | -11.13M | -17.71M | -19.22M | -11.66M | -15.13M | -24.17M | -16.5M | -7.31M | -16.11M | -18.22M | -21.69M | -37.53M | -54.27M | -51.85M | -10.96M | -13.3M | -4.89M |
| CapEx % of Revenue | 3.25% | - | 8.39% | 12.57% | 9.61% | 10.25% | 5.1% | 6.65% | 6.94% | 5.18% | 2.26% | 5.85% | 7.65% | 9.72% | 16.94% | 24.62% | 29.48% | 6.62% | 5.42% | 2.37% |
| Acquisitions | 0 | 0 | 0 | 24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 42.17M | 0 | 461K | -24.16M | 24.74M | 539K | 5.51M | 960K | -17K | -118K | 54K | -40K | 32K | 0 | -61K | 1.32M | 0 | 0 | -26.78M | 6.51M |
| Cash from Financing | -129.5K | 0 | -3.75M | 96.62M | 48.49M | -128K | 1.85M | -12.88M | 179.18M | -191K | -1.83M | 189.36M | 1.47M | 22.48M | 4.28M | -5.3M | 158.29M | -15.46M | -1.55M | 324.26M |
| Debt Issued (Net) | 0 | 0 | -2.92M | -3.07M | 50.91M | -128K | 1.89M | -12.19M | -15.05M | -191K | -1.83M | 189.6M | 1.49M | 22.54M | 4.45M | -5.04M | -10.13M | -12.91M | 9.19M | 194.25M |
| Equity Issued (Net) | 0 | 0 | -824K | 97.27M | 0 | 0 | -40K | -695K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -134K | 296.9M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -129.5K | 0 | 0 | 2.42M | -2.42M | 0 | 0 | 0 | 194.23M | 0 | 0 | -234K | -21K | -66K | -170K | -263K | 168.42M | -2.55M | -10.6M | -166.9M |
| Net Change in Cash | 0 | -30.91M | -23.34M | -30.6M | -18.76M | -91.8M | -21.82M | -178.57M | 92.16M | 35.78M | 30.4M | 57.41M | -27.61M | 15.53M | -10.69M | -68.81M | 139.31M | -77.14M | -103.23M | 272.16M |
| Free Cash Flow | -48.27M | 0 | -11.14M | -127.06M | -91.98M | -92.13M | -88.08M | -166.7M | -27.04M | -40.07M | 32.31M | -56.14M | -29.21M | -7.01M | -13.98M | -64.87M | -18.91M | -61.78M | -75.16M | -55.98M |
| FCF Margin % | -247.27% | - | -22.83% | -143.47% | -49.93% | -49.15% | -38.5% | -73.23% | -7.76% | -12.59% | 9.99% | -20.38% | -12.27% | -3.14% | -6.31% | -29.42% | -10.75% | -37.35% | -30.61% | -27.09% |
| FCF Growth % | 47.52% | 100% | 87.35% | 23.78% | -240.15% | -129.91% | -372.58% | -196.93% | 7.42% | -471.82% | 331.14% | 13.46% | -54.49% | 88.66% | 81.4% | -15.88% | -236.53% | 37.94% | -5889.08% | - |
| FCF per Share | -2.87 | - | -0.33 | -3.78 | -2.73 | -1.82 | -1.63 | -3.41 | -0.60 | -0.76 | 0.78 | -1.37 | -0.71 | -0.17 | -0.35 | -1.60 | -0.49 | -1.81 | -3.07 | -2.26 |
| FCF Conversion (FCF/Net Income) | 1.46x | - | 0.07x | 0.29x | -6.37x | 0.91x | 0.41x | 1.40x | 1.89x | -1.16x | -0.52x | 0.89x | 0.12x | -0.26x | -0.32x | 0.16x | -0.43x | 1.31x | -17.89x | 0.75x |
| Interest Paid | 0 | 0 | 2.79M | 5.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |