Operational cash flow remains inconsistent, highlighted by a negative $1.7B outflow in 2025Q4 despite a reported $789.1M net profit, underscoring a reliance on external financing to cover capital expenditures.
| Cash from Operations | 23.15B | 67.56B | 68.93B | 66.67B | 42.39B | 32.08B | 35.09B | 30B | 19.91B | 8.99B | 3.56B | 666.92M | 38.34M |
| Operating CF Growth % | -65.73% | -1.98% | 3.39% | 57.29% | 32.13% | -8.57% | 16.96% | 50.67% | 121.38% | 152.93% | 433.19% | 1639.49% | - |
| Operating CF / Revenue % | 16.65% | 69.61% | 84.77% | 85.24% | 71.42% | 66.58% | 72.48% | 69.53% | 80.88% | 68.8% | 57.95% | 22.92% | 9.73% |
| Net Income | 10.93B | 10.03B | 8.14B | -2.47B | -12.23B | -5.13B | -623M | 4.93B | 300M | 338.24M | 816.43M | -14.09M | 71.85M |
| Depreciation & Amortization | 28.13B | 20.67B | 17.58B | 15.9B | 13.76B | 12.03B | 11.24B | 9.5B | 7.11B | 3.82B | 2.07B | 1.01B | 166.4M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | -1.84B | -570M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -10.6B | 41.23B | 36.39B | 44.4B | 43.77B | 35.55B | 32.89B | 25.28B | 13.54B | 9.26B | 3.57B | 1.37B | 137.42M |
| Working Capital Changes | -5.31B | -5.65B | 5.16B | 6.87B | -5.32B | -10.57B | -6.65B | -9.32B | -1.44B | -4.72B | -2.97B | -1.69B | -337.33M |
| Capital Expenditures | -100.33B | -93.66B | -153.84B | -91.38B | -89.83B | -24.48B | -39.3B | -61.2B | -104.58B | -67.84B | -34.65B | -11.83B | -18.29B |
| CapEx / Revenue % | 72.13% | 96.49% | 189.18% | 116.82% | 151.36% | 50.81% | 81.18% | 141.85% | 424.82% | 518.93% | 564.65% | 406.6% | 4641.71% |
| CapEx / D&A | 3.57x | 4.53x | 8.75x | 5.75x | 6.53x | 2.04x | 3.50x | 6.44x | 14.71x | 17.78x | 16.70x | 11.75x | 109.90x |
| CapEx Coverage (OCF/CapEx) | 0.23x | 0.72x | 0.45x | 0.73x | 0.47x | 1.31x | 0.89x | 0.49x | 0.19x | 0.13x | 0.10x | 0.06x | 0.00x |
| Cash from Investing | -112.1B | -74.16B | -162.53B | -79.99B | -124.75B | -17.41B | -53.72B | -53.41B | -104.58B | -59.92B | -43.52B | -13.03B | -18.12B |
| Acquisitions | 3.05B | 3.59B | 4.09B | -3.13B | -11.16B | 3.61B | -762M | -941M | -43.13B | -1.24B | 0 | -24.1M | 0 |
| Purchase of Investments | -18.13B | -363.8B | -443.99B | -435.54B | 15.87B | -140.78B | -15.87B | -2.62B | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 0 | 375.22B | 426.71B | 442.01B | -15.87B | 142.22B | 2.15B | 9.54B | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 3.3B | 4.49B | 4.5B | 8.04B | -23.75B | 2.01B | 54M | 1.81B | -9.15B | 9.17B | -8.87B | -1.17B | 165.05M |
| Cash from Financing | 69.2B | 19.98B | 82.42B | 23.02B | 90.04B | -7.08B | 21.61B | 19.61B | 71.44B | 74.43B | 35.72B | 14.18B | 19.95B |
| Dividends Paid | 0 | 0 | 0 | 0 | -19.61B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio % | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Stock Issued | 10.24B | 20M | 17M | 17.77B | 68B | 0 | 0 | 560M | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -4.82B | -13.28B | -1.31B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -56.35B | -45.82B | -39.85B | 33.55B | -35.72B | -32.2B | -26.56B | 3.72B | 24.76B | 12.05B | 3.55B | 19.95B |
| Net Change in Cash | -19.41B | 13.4B | -11.16B | 9.8B | 7.7B | 7.59B | 2.97B | -3.8B | -13.22B | 23.51B | -4.24B | 1.82B | 1.87B |
| Exchange Rate Effect | 335.88M | 13M | 26M | 96M | 19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 87.58B | 27.02B | 38.18B | 28.38B | 20.68B | 13.09B | 10.12B | 13.91B | 27.14B | 3.63B | 7.87B | 1.88B | 9.33M |
| Cash at End | 68.17B | 40.42B | 27.02B | 38.18B | 28.38B | 20.68B | 13.09B | 10.12B | 13.91B | 27.14B | 3.63B | 3.7B | 1.88B |
| Free Cash Flow | -77.18B | -26.09B | -84.91B | -24.7B | -47.44B | 7.6B | -4.21B | -31.2B | -84.67B | -58.84B | -31.09B | -11.16B | -18.25B |
| FCF Growth % | -195.76% | 69.27% | -243.72% | 47.93% | -724.29% | 280.46% | 86.5% | 63.15% | -43.88% | -89.26% | -178.47% | 38.82% | - |
| FCF Margin % | -55.48% | -26.88% | -104.41% | -31.58% | -79.93% | 15.77% | -8.7% | -72.31% | -343.93% | -450.13% | -506.7% | -383.68% | -4631.98% |
| FCF / Net Income % | -706.27% | -684.16% | -2494.36% | 512.83% | 295.08% | -97.2% | 156.19% | -1179.1% | -28222% | -17397.4% | -3808.22% | 79240.38% | -25399.51% |
High capital intensity risk
As reported in recent financial statements, ReNew Energy Global's capital expenditure remains highly volatile, with quarterly outflows reaching as high as $43.2B in 2023Q3, consistently outpacing operating cash flow and signaling a reliance on external funding to sustain its aggressive renewable capacity expansion strategy.
The company's CAPEX-to-OCF ratio frequently exceeds 100%, which is characteristic of a utility in a heavy growth phase but underscores the significant execution risk inherent in its project pipeline. This persistent burn rate suggests that the company is prioritizing rapid asset base growth over immediate cash flow generation, leaving little room for operational missteps.
Based on the provided cash flow data, the company frequently relies on net stock issuance and debt markets to bridge its free cash flow deficit, which peaked at a negative $26.4B in 2024Q1, highlighting a structural dependency on external capital to fund ongoing infrastructure development.
The frequent swings between net stock issuance and repayment suggest a reactive financing strategy that may be sensitive to market conditions. Investors should monitor whether the company can maintain access to these capital markets on favorable terms, especially given the volatility in its quarterly free cash flow performance.
According to the quarterly cash flow records, the significant disparity between net income and operating cash flow, such as the $789.1M profit in 2025Q4 coinciding with a negative $1.7B operating cash flow, suggests that non-cash accounting items are heavily influencing the company's reported profitability metrics.
This divergence may indicate that a substantial portion of reported earnings is derived from non-cash accruals or fair value adjustments rather than actual cash generation. Such accounting nuances warrant further investigation to determine the true underlying cash-earning capacity of the company's renewable assets.
As indicated by the provided financial data, the company's cash flow statement appears to mask the true impact of interest obligations, as evidenced by the lack of reported interest paid in several quarters, which may obscure the actual cost of servicing its significant debt load.
The absence of clear interest payment data in the provided figures makes it difficult to assess the true debt-servicing burden on the company's cash flow. This lack of transparency regarding financing costs may hide potential liquidity pressures that could emerge if interest rates remain elevated or if refinancing becomes more difficult.
Quick answers to the most common questions about buying RNWWW stock.
ReNew Energy Global plc (RNWWW) generated $23.15B in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
ReNew Energy Global plc (RNWWW) reported negative free cash flow of $77.18B in 2025, indicating capital requirements exceeded cash from operations.
ReNew Energy Global plc (RNWWW) spent $100.33B on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.