Operating cash flow consistently exceeds net income, with OCF/NI ratios above 1.9 in most quarters and FCF margin improving to 17.6% in 2026Q2, though working capital swings and reduced capex (3.1% of revenue) may limit future growth.
Myers Industries, Inc. (MYE) cash flow statement — 30-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 | Dec'97 | Dec'96 |
|---|
| Cash from Operations | 111.68M | 86.76M | 79.29M | 86.17M | 72.62M | 44.91M | 46.51M | 54.32M | 61.25M | 44.44M | 33.72M | 37.73M | 39.06M | 96.07M | 60.75M | 64.17M | 45.64M | 72.34M | 61.95M | 97.07M | 80.95M | 67.23M | 46.42M | 51.13M | 65.51M | 76.8M | 67.34M | 57.4M | 42.3M | 36.2M | 34.7M |
| Operating CF Margin % | - | 10.51% | 9.48% | 10.6% | 8.07% | 5.9% | 9.11% | 10.53% | 10.81% | 8.12% | 6.04% | 6.27% | 6.26% | 11.64% | 7.68% | 8.49% | 6.19% | 10.31% | 7.14% | 10.56% | 10.38% | 7.44% | 5.78% | 7.73% | 10.77% | 12.63% | 10.32% | 9.88% | 10.79% | 10.66% | 10.81% |
| Operating CF Growth % | 221.04% | 9.42% | -7.98% | 18.66% | 61.69% | -3.43% | -14.39% | -11.31% | 37.83% | 31.78% | -10.63% | -3.4% | -59.34% | 58.13% | -5.33% | 40.61% | -36.91% | 16.77% | -36.18% | 19.92% | 20.4% | 44.82% | -9.21% | -21.94% | -14.71% | 14.06% | 17.31% | 35.7% | 16.85% | 4.32% | 52.86% |
| Net Income | 50.97M | 34.93M | 7.2M | 48.87M | 60.27M | 33.54M | 36.77M | 24.33M | -3.35M | -9.89M | 1.06M | 17.17M | -6.37M | 26M | 29.96M | 24.5M | -42.83M | 7M | -44.49M | 54.74M | -69.02M | 26.56M | 25.71M | 16.33M | 23.96M | 15.19M | 24M | 31.2M | 28.7M | 22.3M | 21M |
| Depreciation & Amortization | 37.54M | 39.28M | 38.59M | 22.79M | 21.22M | 20.42M | 20.93M | 23.58M | 26.12M | 28.84M | 34.47M | 34.98M | 30.77M | 37.27M | 33.01M | 34.21M | 33.55M | 36.27M | 40.35M | 37.73M | 28.21M | 36M | 39.18M | 36.55M | 35.71M | 43.91M | 42.83M | 37.5M | 17.6M | 13.2M | 11.3M |
| Stock-Based Compensation | 1.79M | 3.54M | 1.66M | 6.67M | 7.44M | 3.2M | 3.53M | 1.72M | 4.26M | 3.63M | 3.36M | 4.93M | 3.12M | 838K | 2.38M | 2.6M | 2.33M | 2.66M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 9.36M | 3.21M | -6.05M | 1.04M | 2.07M | 2.83M | 8.73M | -922K | -9.45M | -5.66M | -243K | -1.7M | -3.34M | -4.32M | 1.05M | -184K | -13.29M | -1.41M | -5.67M | -3.38M | -101.35K | 2.16M | -71.43K | 4.42M | 4.53M | 1.63M | 964.87K | 3.5M | 100K | 200K | 500K |
| Other Non-Cash Items | 22.03M | 827K | 28.29M | 1.06M | 1.29M | -2.32M | -10.5M | 11.84M | 35.05M | 14.93M | 7.87M | -16.34M | 3.85M | 2.42M | -1.58M | 5.59M | 71.28M | 1.02M | 72.02M | -25.37M | 555.31K | -1.05M | -1.52M | 0 | 0 | 0 | 0 | 0 | -100K | 100K | 100K |
| Working Capital Changes | 8.74M | 4.99M | 9.59M | 5.75M | -19.66M | -12.75M | -12.96M | -6.23M | 8.62M | 12.6M | -12.78M | -1.31M | 11.03M | 33.86M | -4.07M | -2.55M | -5.4M | 26.8M | 131.01K | 51.44M | 10.31M | 3.57M | -16.86M | -6.16M | 1.31M | 16.07M | -456K | -14.8M | -4M | 400K | 1.8M |
| Change in Receivables | -27.85M | -11.91M | 26.82M | 2.66M | -23.63M | -15.27M | -11.59M | 12.48M | 4.93M | -6.76M | 4.31M | 4.85M | 2.57M | -716K | -2M | -8.66M | -11.45M | 7.38M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 6.1M | 11.39M | 6.23M | 2.63M | 7.96M | -24.89M | -7.87M | 2.22M | 3.15M | -1.88M | 9.72M | 5.27M | 801K | -1.58M | -2.78M | 455K | 4.96M | 10.87M | 5.74M | 13.13M | 9.21M | 1.91M | -24.99M | 2.98M | 741.87K | 6.36M | -3.08M | -7.7M | -5.1M | -2.8M | 1.4M |
| Change in Payables | 16.12M | 8.3M | -22.93M | 310K | 0 | 0 | -20.69M | 0 | 713K | 18.3M | -27.32M | -12.53M | 6.91M | 35.45M | -3.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -15.58M | -18.93M | -372.5M | -22.76M | -50.38M | -50.29M | -75.55M | -20.76M | -2.49M | 4.14M | -16.09M | 47.72M | -168.6M | -29.94M | -39.98M | -22.04M | -15.37M | 2M | -38.99M | -14.1M | -13.34M | -23.49M | -65.64M | -20.35M | -31.51M | -34.47M | -61.09M | -241.4M | -49.2M | -27.2M | -22.4M |
| Capital Expenditures | -16.24M | -19.55M | -24.43M | -22.86M | -24.29M | -17.87M | -13.42M | -10.29M | -5.12M | -5.81M | -12.52M | -23.73M | -24.17M | -30M | -26.98M | -21.93M | -20.53M | -15.99M | -40.98M | -19.81M | -12.38M | -26.86M | -25.9M | -20.01M | -28.39M | -25.18M | -43.61M | -241.1M | -49.5M | -26.7M | -21.5M |
| CapEx % of Revenue | 2.16% | 2.37% | 2.92% | 2.81% | 2.7% | 2.35% | 2.63% | 2% | 0.9% | 1.06% | 2.24% | 3.94% | 3.88% | 3.64% | 3.41% | 2.9% | 2.78% | 2.28% | 4.72% | 2.16% | 1.59% | 2.97% | 3.23% | 3.03% | 4.67% | 4.14% | 6.68% | 41.51% | 12.63% | 7.86% | 6.7% |
| Acquisitions | 378K | 0 | -348.31M | -160K | -27.63M | -35.76M | -63.33M | -18M | 2.63M | 11.06M | -4.03M | 70.76M | -156.62M | -600K | -16.04M | -1.1M | -411K | -1.18M | 0 | -63.2M | 0 | 0 | -41.49M | -776.06K | -2.82M | -7.48M | -17.53M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 287K | 624K | 242K | 258K | 1.54M | 3.34M | 1.2M | 7.54M | 2.63M | 9.95M | 468K | 680K | 12.19M | 660K | 3.04M | 993K | 5.57M | 19.17M | 1.98M | 68.91M | -955.16K | 3.37M | 1.75M | 439.24K | -298.23K | -1.81M | 42.2K | -300K | 300K | -500K | -900K |
| Cash from Financing | -57.33M | -54.48M | 295.1M | -56.52M | -16.32M | -5.19M | -18.32M | -16.99M | -10.76M | -53.74M | -17.75M | -81.82M | 126.86M | -60.79M | -26.4M | -39.41M | -30.72M | -81.28M | -10.42M | -109.37M | -54.81M | -30.37M | 20.76M | -26.82M | -39.37M | -37.43M | -5.16M | 150.3M | 35.5M | -8.3M | -10.1M |
| Debt Issued (Net) | -41.47M | -31.62M | 323.41M | -36.54M | 1.61M | 11.5M | 0 | 0 | -74.56M | -40.27M | -3.8M | -37.11M | 195.49M | -49.1M | -9.56M | -9.69M | -20.48M | -69.11M | 7.36M | -102.93M | -49.89M | -24.26M | 25.72M | -20.76M | -35.77M | -33.14M | 4.54M | 157.5M | 38.5M | -500K | -9.2M |
| Equity Issued (Net) | 160K | -1.4M | 3.34M | 2.34M | 2.32M | 3.79M | 1.73M | 3.34M | 82.38M | 4.53M | 3.37M | -27.1M | -51.97M | -8.78M | -1.08M | -20.2M | 138K | 271K | 523K | 1.31M | 2.32M | 1.35M | 2.47M | 1.01M | 2.28M | 1.17M | -4.73M | -2.5M | 900K | -4.3M | -900K |
| Dividends Paid | -15.26M | -20.49M | -20.43M | -20.24M | -19.8M | -19.6M | -19.43M | -19.32M | -17.86M | -16.34M | -16.22M | -16.68M | -15.71M | -9.1M | -13.01M | -9.52M | -9.21M | -8.44M | -18.3M | -7.64M | -7.17M | -6.95M | -6.48M | -6.03M | -5.88M | -5.45M | -4.97M | -4.7M | -4M | -3.5M | 0 |
| Share Repurchases | -1.01M | -2.52M | 0 | 0 | 0 | 0 | 0 | 0 | -714K | -620K | 0 | -30.02M | -54.9M | -8.1M | -4.2M | -20.95M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.53M | -4M | -100K | -5.2M | -1.6M |
| Other Financing | -756K | -965K | -11.22M | -2.07M | -451K | -888K | -623K | -1.01M | -714K | -1.65M | -1.1M | -937K | -951K | 6.2M | -253K | 0 | -1.17M | -4M | 5.67K | -104.15K | -76.24K | -509.38K | -951.51K | -1.04M | 0 | 0 | 0 | 0 | 100K | 0 | -3M |
| Net Change in Cash | 35.18M | 12.83M | 1.93M | 7.15M | 5.48M | -10.65M | -47.23M | 16.63M | 47.72M | 116K | 544K | 2.67M | -1.86M | 2.59M | -2.85M | 2.1M | -23K | -5.69M | 2.86M | -26.16M | 14.56M | 11.14M | 2.35M | 3.96M | -5.37M | 4.9M | 1.08M | -33.7M | -6.3M | -5.6M | -3.4M |
| Free Cash Flow | 95.43M | 67.21M | 54.86M | 63.32M | 48.33M | 27.05M | 33.09M | 44.03M | 56.13M | 38.63M | 21.2M | 14.01M | 14.89M | 66.07M | 33.77M | 42.24M | 25.11M | 56.34M | 20.97M | 77.26M | 68.57M | 40.38M | 20.52M | 31.12M | 37.12M | 51.62M | 23.73M | -183.7M | -7.2M | 9.5M | 13.2M |
| FCF Margin % | 12.67% | 8.14% | 6.56% | 7.79% | 5.37% | 3.55% | 6.48% | 8.54% | 9.9% | 7.06% | 3.8% | 2.33% | 2.39% | 8.01% | 4.27% | 5.59% | 3.4% | 8.03% | 2.42% | 8.41% | 8.79% | 4.47% | 2.56% | 4.71% | 6.1% | 8.49% | 3.64% | -31.63% | -1.84% | 2.8% | 4.11% |
| FCF Growth % | 67.09% | 22.51% | -13.36% | 31.01% | 78.69% | -18.25% | -24.85% | -21.56% | 45.32% | 82.21% | 51.36% | -5.93% | -77.47% | 95.61% | -20.04% | 68.26% | -55.44% | 168.65% | -72.85% | 12.68% | 69.81% | 96.72% | -34.05% | -16.14% | -28.09% | 117.52% | 112.92% | -2451.39% | -175.79% | -28.03% | 23.36% |
| FCF per Share | 2.53 | 1.79 | 1.47 | 1.71 | 1.35 | 0.74 | 0.92 | 1.23 | 1.68 | 1.26 | 0.71 | 0.45 | 0.46 | 1.94 | 0.99 | 1.22 | 0.71 | 1.60 | 0.60 | 2.19 | 1.96 | 1.16 | 0.60 | 0.94 | 1.13 | 1.58 | 0.66 | -5.49 | -0.22 | 0.28 | 0.39 |
| FCF Conversion (FCF/Net Income) | 1.87x | 2.48x | 11.01x | 1.76x | 1.20x | 1.34x | 1.26x | 2.23x | -18.29x | -4.49x | 31.90x | 2.20x | -6.13x | 3.69x | 2.03x | 2.62x | -1.07x | -105.91x | -1.39x | 1.77x | -1.17x | 2.53x | 1.81x | 3.13x | 2.73x | 5.06x | 2.81x | 1.84x | 1.47x | 1.62x | 1.65x |
| Interest Paid | 0 | 0 | 31.65M | 5.98M | 4.57M | 4.28M | 4.5M | 4.66M | 6.24M | 8.91M | 8.92M | 10.13M | 4.97M | 4.2M | 4.01M | 4.13M | 6.92M | 8.32M | 10.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 13.04M | 13.45M | 13.02M | 10.94M | 5.36M | 11.44M | 5.54M | 5.65M | 8.14M | 10.14M | 11.36M | 12.32M | 21.2M | 11.17M | 9.47M | 5.9M | 19.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying MYE stock.
Myers Industries, Inc. (MYE) generated $86.8M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Myers Industries, Inc. (MYE) generated $67.2M 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.
Myers Industries, Inc. (MYE) spent $19.6M 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, Myers Industries, Inc. (MYE) returned $20.5M to shareholders via cash dividends and spent $2.5M on share repurchases. This shows the company's commitment to returning capital to its equity investors.
Key Metrics
Top Statement Risk
Revenue decline and margin volatility
Metrics are mathematically derived from official filings.
Cash Conversion Outpaces Reported Earnings
Operating cash flow consistently exceeds net income, with OCF/NI ratios above 1.9 in most quarters, reaching 3.63 in 2025Q3, indicating strong cash conversion despite earnings volatility.
The persistent gap between operating cash flow and net income, particularly in quarters like 2025Q3 (OCF/NI of 3.63) and 2024Q4 (6.36), suggests that earnings understate cash generation, likely due to non-cash charges and working capital swings. This pattern implies that reported profitability may be conservative, but investors should monitor whether the elevated conversion is sustainable as revenue declines.
FCF Margin Expansion Amid Revenue Slide
Free cash flow margin improved from 4.5% in 2024Q2 to 17.6% in 2026Q2, per reported figures, even as revenue contracted, reflecting disciplined cost management and lower capital intensity.
FCF has grown from $9.9M in 2024Q2 to $31.5M in 2026Q2, a more than threefold increase, while revenue fell, indicating that cash generation is decoupling from top-line performance. This suggests that the company is becoming more efficient in converting sales to cash, but the sustainability of this trend is questionable if demand weakness persists.
Capital Intensity Declines as Growth Capex Eases
CapEx as a percentage of revenue fell from 3.5% in 2024Q4 to 3.1% in 2026Q2, with absolute spending down to $5.6M, suggesting a shift toward maintenance rather than expansionary investment.
The reduction in capital spending relative to revenue, alongside stable D&A around $9-10M, implies that the company is not investing heavily in growth, which may limit future capacity expansion. This conservative capex approach supports near-term FCF but could constrain the company's ability to capitalize on a demand recovery.
Working Capital Swings Drive Cash Flow Volatility
Working capital changes swung from a $18.6M source in 2024Q4 to a $7.9M use in 2025Q1, per financial statements, indicating that cash flow is heavily influenced by inventory and receivables management.
The erratic working capital movements, including a $9.2M source in 2025Q2 and a $8.0M source in 2025Q3, suggest that the company is actively managing its balance sheet to support cash flow, possibly by tightening collections or reducing inventory. However, such volatility makes quarterly cash flow less predictable and may indicate underlying operational instability.
Dividends and Acquisitions Shape Cash Allocation
Dividends consumed roughly $5M per quarter, while acquisitions were minimal except for a $348.9M outflow in 2024Q1, as reported, indicating a focus on shareholder returns over inorganic growth.
The consistent dividend payments, despite fluctuating earnings, suggest a commitment to returning cash to shareholders, but the large acquisition outflow in 2024Q1 highlights occasional strategic investments. With no buybacks in recent quarters, the company appears to prioritize dividend stability, which may be tested if cash flow deteriorates further.
Cumulative Cash Generation Exceeds Net Income
Over the past ten quarters, cumulative operating cash flow of $229.4M surpasses cumulative net income of $74.6M, per reported data, indicating that earnings significantly understate cash generation.
The substantial cumulative gap of $154.8M between operating cash flow and net income suggests that the company's earnings are heavily impacted by non-cash charges and working capital benefits, which may not be sustainable. This divergence warrants further investigation into the quality of earnings and whether the cash flow advantage will persist as revenue declines.
What Could Invalidate the Base Case
The elevated cash conversion and FCF margins may be temporary, as working capital benefits and cost cuts could reverse, per reported figures, potentially exposing weaker underlying cash generation.
The strong cash flow metrics are partly driven by aggressive working capital management and SG&A reductions, which may not be repeatable. If revenue continues to decline, the company may face pressure to maintain dividends, and the large acquisition in 2024Q1 suggests potential integration risks. Investors should monitor whether cash conversion normalizes as these one-time benefits fade.