Free cash flow remains highly erratic, swinging from a negative $15.3M in 2024Q4 to a positive $12.4M in 2026Q1, while capital expenditures remain minimal at less than 0.5% of revenue.
| 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'03 |
|---|
| Cash from Operations | 26.17M | 22.74M | 18.1M | 28.93M | 34.94M | 9.86M | 717K | -4.64M | -72.58M | -56.41M | -55.91M | 59.88M | 49.5M | 44.57M | 44.87M | 26.75M | 25.41M | 25.03M | 32.26M | 21.21M | 10.9M | 4.25M | -3.91M |
| Operating CF Margin % | - | 6.36% | 5.08% | 7.79% | 9.28% | 2.69% | 0.2% | -1.19% | -17.3% | -13.98% | -14% | 16.24% | 15.04% | 15.54% | 17.58% | 11.51% | 14.52% | 19.6% | 27.48% | 24.34% | 16.45% | 8.46% | -16.75% |
| Operating CF Growth % | 56.7% | 25.59% | -37.41% | -17.21% | 254.47% | 1274.62% | 115.47% | 93.61% | -28.67% | -0.88% | -193.37% | 20.98% | 11.04% | -0.66% | 67.75% | 5.27% | 1.51% | -22.41% | 52.09% | 94.51% | 156.41% | 208.72% | - |
| Net Income | -12.26M | -10M | -60.25M | -79.36M | -66.56M | -50.04M | -47.92M | -339M | -159.27M | -281.39M | -117.17M | -6.76M | -9.9M | -2.33M | -11.79M | -15.79M | -1.58M | 3.97M | 25.19M | 19.32M | 5.67M | -4.42M | -14.93M |
| Depreciation & Amortization | 26.42M | 26.27M | 28.8M | 26.92M | 46.29M | 43.02M | 42.94M | 45.27M | 50.12M | 58.16M | 57.34M | 35.49M | 25.21M | 24.73M | 23.45M | 22.65M | 12.96M | 8M | 5.65M | 4.74M | 4.29M | 5.16M | 6.6M |
| Stock-Based Compensation | 2.37M | 2.66M | 3.19M | 4.54M | 8.18M | 13.85M | 10.07M | 16.56M | 37.62M | 17.31M | 46.49M | 46.98M | 41.97M | 27.04M | 24.9M | 21.26M | 17.77M | 9.85M | 6.48M | 0 | 0 | 0 | 0 |
| Deferred Taxes | 2.32M | 818K | -841K | -35K | -475K | -1.72M | 10K | -3.73M | 2.02M | -3.2M | -4M | 256K | -13.19M | 2.38M | 896K | -4.36M | -1.94M | 5.1M | -15.39M | -8.14M | -97K | -182K | 0 |
| Other Non-Cash Items | 16.1M | 16.51M | 70.98M | 87.41M | 47.18M | 28.55M | 15.96M | 272M | 20.08M | 87.97M | -31.25M | -1.88M | 10.96M | 641K | 5.85M | 4.39M | -538K | 318K | 2.88M | 3.81M | 410K | 533K | 4.45M |
| Working Capital Changes | -8.77M | -13.52M | -23.77M | -10.54M | 325K | -23.81M | -20.34M | 4.26M | -23.15M | 64.74M | -7.32M | -14.2M | -5.55M | -7.88M | 1.57M | -1.4M | -1.27M | -2.2M | 7.45M | 1.49M | 407K | 3.15M | -33K |
| Change in Receivables | -5.97M | 6.63M | -1.65M | 4.78M | 2.6M | -2.08M | 2.02M | 2.74M | 4.71M | 14.53M | 4.01M | -5.38M | -16.7M | -22.56M | -4.94M | -10.18M | -15.1M | -4.49M | -6.58M | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.54M | -33.16M | 0 | 0 | -2.96M | -712K | 1.47M | -3.13M | 0 | 83K | 6.35M | 0 | 0 | 0 | 0 |
| Change in Payables | 7.89M | 2.78M | -10.57M | -4.12M | 7.4M | -4.21M | -17.09M | 10.44M | -4.96M | 85M | 0 | 0 | 4.96M | 5.67M | -7.84M | 11.39M | 0 | -2.91M | -1.84M | 0 | 0 | 0 | 0 |
| Cash from Investing | -23.66M | -23.39M | -24.06M | -23.79M | -17.82M | -14.65M | -15.55M | -10.46M | -13.81M | 18.25M | 47.82M | -17.2M | -11.54M | -4.44M | -7.59M | -9.81M | -44.02M | 8K | -63.67M | -30.3M | -9.57M | -2.5M | -726K |
| Capital Expenditures | -528K | -956K | -813K | -1.58M | -1.14M | -803K | -477K | -2.74M | -13.81M | -10.18M | -7.11M | -4.55M | -7.65M | -4.6M | -7.59M | -7.24M | -5.12M | -6.47M | -14.25M | -3.63M | -2.31M | -1.07M | -726K |
| CapEx % of Revenue | 0.15% | 0.27% | 0.23% | 0.43% | 0.3% | 0.22% | 0.13% | 0.7% | 3.29% | 2.52% | 1.78% | 1.23% | 2.32% | 1.6% | 2.97% | 3.11% | 2.93% | 5.07% | 12.14% | 4.17% | 3.49% | 2.13% | 3.11% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.76M | -10.12M | -3.9M | 0 | 0 | -5.16M | -68.88M | -1.3M | -44.64M | 0 | -300K | -1.24M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -23.14M | -22.43M | -23.25M | -22.21M | -16.68M | -13.85M | -15.08M | -11.5M | -9.61M | 28.44M | 42.98M | -2.54M | 0 | 160K | 0 | 211K | -44.02M | 89K | 1.39M | -1.11M | -9K | -41K | 726K |
| Cash from Financing | -12.11M | -7M | 17.62M | -3.39M | -18.13M | -22.45M | -2.1M | 31.97M | 93.12M | -7.52M | -51.33M | 63.3M | -59.1M | -32.88M | -14.29M | -12.3M | -6.08M | -1.72M | -1.14M | 71.98M | -1.38M | -1.09M | 0 |
| Debt Issued (Net) | -9.69M | -4.78M | 26.15M | -2.07M | -2.52M | -204.18M | -1.75M | 12.65M | 90.99M | -17.02M | -18.84M | -16.62M | -12.08M | -10.21M | -7.16M | -5.39M | -1.73M | -1.06M | -900K | -2.11M | -1.62M | -1.23M | 0 |
| Equity Issued (Net) | -2.26M | -1.35M | 0 | 0 | 0 | 187.88M | 0 | 19.75M | 0 | 0 | -41.45M | 70.67M | -52.88M | -22.42M | -7.36M | -7.39M | -5.47M | -1.57M | -238K | 74.09M | 241K | 136K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | -15.51M | -4.76M | 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 | -5.26M | -1.51M | -45.58M | -134.08M | -52.88M | -22.42M | -7.36M | -7.39M | -5.47M | -1.57M | -1.26M | 0 | 0 | 0 | 0 |
| Other Financing | -161K | -865K | -8.53M | -1.33M | -101K | -1.39M | -342K | -426K | 2.13M | 9.5M | 8.95M | 9.42M | 5.87M | -252K | 238K | 479K | 1.12M | 922K | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | -9.42M | -6.67M | 10.53M | 2.49M | -1.84M | -28.46M | -16.03M | 16.57M | 5.07M | -43.22M | -58.65M | 103.97M | -24.78M | 6.03M | 23.69M | 4.33M | -24.55M | 23.99M | -34.07M | 63.34M | -92K | 620K | -4.64M |
| Free Cash Flow | 25.52M | 21.78M | 17.29M | 5.14M | 17.11M | -5.69M | -14.84M | -18.87M | -86.39M | -66.59M | -63.02M | 55.33M | 41.85M | 39.98M | 37.28M | 19.52M | 20.29M | 18.56M | 18.01M | 17.58M | 8.59M | 3.18M | -4.64M |
| FCF Margin % | 7.15% | 6.09% | 4.86% | 1.38% | 4.55% | -1.55% | -4.17% | -4.86% | -20.59% | -16.5% | -15.78% | 15% | 12.71% | 13.94% | 14.61% | 8.4% | 11.59% | 14.53% | 15.34% | 20.17% | 12.96% | 6.33% | -19.86% |
| FCF Growth % | 868.94% | 25.96% | 236.4% | -69.97% | 400.58% | 61.63% | 21.38% | 78.15% | -29.74% | -5.66% | -213.89% | 32.22% | 4.68% | 7.23% | 91.04% | -3.82% | 9.33% | 3.07% | 2.45% | 104.59% | 169.99% | 168.61% | - |
| FCF per Share | 1.69 | 4.10 | 3.45 | 1.07 | 3.69 | -1.41 | -4.17 | -5.94 | -29.94 | -23.17 | -22.62 | 29.21 | 24.84 | 23.21 | 1.12 | 0.60 | 0.65 | 0.60 | 0.60 | 0.60 | 2.23 | 1.02 | -1.72 |
| FCF Conversion (FCF/Net Income) | -2.08x | -2.27x | -0.30x | -0.36x | -0.52x | -0.20x | -0.01x | 0.01x | 0.46x | 0.20x | 0.48x | -0.77x | -5.00x | -19.11x | -3.81x | -1.69x | -16.12x | 6.31x | 1.28x | 1.10x | 1.92x | -0.96x | 0.26x |
| Interest Paid | 0 | 0 | 1.21M | 1.54M | 652K | 1.01M | 23.79M | 4.08M | 8.14M | 1.69M | 1.96M | 0 | 1.31M | 756K | 775K | 701K | 296K | 63K | 122K | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 1.3M | 2.11M | 1.8M | 1.83M | 1.18M | 1.19M | 1.26M | 497K | 1.72M | 0 | 2.15M | 1.33M | 997K | 2.03M | 1.34M | 1.61M | 325K | 0 | 0 | 0 | 0 |
Structural cash flow volatility
As reported in recent financial filings, comScore's operating cash flow frequently diverges from net income, with the 2025Q3 OCF/NI ratio reaching an extreme 20.96, suggesting that reported earnings are heavily influenced by non-cash items rather than reflecting the underlying cash-generative capacity of the core business operations.
The persistent gap between net income and operating cash flow indicates that accounting profitability is a poor proxy for the company's actual liquidity. Investors should monitor this disconnect, as it implies that the firm's ability to fund operations is decoupled from its reported bottom-line performance.
Based on the provided quarterly data, SCOR's free cash flow trajectory remains erratic, swinging from a negative $15.3M in 2024Q4 to a positive $12.4M in 2026Q1, which highlights the inherent instability in the company's ability to sustain consistent cash generation across different reporting periods.
This volatility suggests that the company's cash flow is highly sensitive to timing differences in working capital rather than steady operational growth. The lack of a clear upward trend in FCF margins warrants further investigation into the sustainability of its current cash-generating model.
According to the cash flow statements, working capital changes have been a primary driver of liquidity fluctuations, most notably the $24.6M outflow in 2024Q4 followed by a $9.0M inflow in 2026Q1, indicating that the company's cash position is highly susceptible to shifts in accounts receivable and payable cycles.
These significant swings suggest that the company may be struggling to manage its cash conversion cycle effectively. Such variability makes it difficult to forecast future liquidity, as the cash flow profile appears to be dictated by timing rather than operational efficiency.
As evidenced by the company's reported figures, capital expenditures remain remarkably low, with CapEx/Revenue ratios consistently below 0.5% over the last ten quarters, which may indicate a strategy of minimizing investment in physical infrastructure despite the high fixed-cost nature of its data-heavy business model.
While low capital intensity preserves cash in the short term, it may also suggest a lack of necessary reinvestment in the proprietary data panels required to maintain competitive relevance. Analysts should monitor whether this low level of spending is sufficient to support long-term product innovation.
Based on historical data, stock-based compensation remains a recurring non-cash expense, with quarterly adjustments reaching as high as $1.7M, which serves to artificially inflate reported cash flow metrics while potentially diluting the value of existing equity for long-term shareholders in a stagnant growth environment.
The reliance on stock-based compensation to manage cash outflows appears to be a structural feature of the company's talent retention strategy. Investors should consider the impact of these non-cash adjustments when evaluating the true economic cost of the company's operations.
Quick answers to the most common questions about buying SCOR stock.
comScore, Inc. (SCOR) generated $22.7M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
comScore, Inc. (SCOR) generated $21.8M 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.
comScore, Inc. (SCOR) spent $1.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.