Free cash flow generation has improved to an 8.3% margin in 2025Q3, supported by a disciplined capital expenditure profile representing only 1.0% of revenue.
Vistance Networks, Inc. (VISN) cash flow statement — 15-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 |
|---|
| Cash from Operations | -75.6M | 322.9M | 273.1M | 297.3M | 190M | 122.3M | 436.2M | 596.4M | 494.14M | 586.29M | 606.23M | 302.06M | 289.42M | 237.7M | 286.13M | 135.75M |
| Operating CF Margin % | - | 16.72% | 6.49% | 6.51% | 2.53% | 1.42% | 5.17% | 7.15% | 10.82% | 12.86% | 12.31% | 7.93% | 7.56% | 6.83% | 8.61% | 4.14% |
| Operating CF Growth % | -352.42% | 18.24% | -8.14% | 56.47% | 55.36% | -71.96% | -26.86% | 20.69% | -15.72% | -3.29% | - | 4.37% | 21.76% | -16.93% | 110.78% | - |
| Net Income | 1.19B | 2.28B | -315.5M | -1.51B | -1.29B | -462.6M | -573.4M | -929.5M | 140.22M | 193.76M | 222.84M | -70.88M | 236.77M | 19.4M | 5.35M | -252.31M |
| Depreciation & Amortization | 133.8M | 277M | 370.5M | 561.2M | 696.1M | 786.3M | 823.3M | 770.9M | 357.5M | 378M | 399.05M | 303.5M | 259.5M | 256.62M | 262.28M | 264.14M |
| Stock-Based Compensation | 33.6M | 42.7M | 29.1M | 47.3M | 61.1M | 79.6M | 0 | 90.8M | 44.9M | 41.85M | 35.01M | 28.66M | 21.09M | 16.11M | 7.53M | 5.87M |
| Deferred Taxes | 7.7M | -1.35B | 65M | -180.5M | -118.4M | -147.5M | -154.7M | -260.8M | -49.25M | -71.47M | -100.88M | -101.83M | -33.28M | -40.72M | -48.71M | -141.6M |
| Other Non-Cash Items | -2.87B | -804.9M | 60.2M | 1.14B | 1.13B | 63.8M | 321.7M | 378.4M | 46.57M | 43.48M | 15.18M | 71.05M | -14.55M | 55.02M | 43.06M | 92.23M |
| Working Capital Changes | -294.9M | -125.2M | 63.8M | 236.2M | -287.7M | -197.3M | 19.3M | 546.6M | -45.8M | 665K | 35.03M | 71.54M | -180.12M | -68.72M | 16.63M | 167.41M |
| Change in Receivables | 21M | -281.3M | -137.6M | 471.9M | -16M | -59.6M | 228.4M | 258.8M | 65.07M | 96.75M | -100.87M | -6.98M | -18.82M | -11.89M | -15.89M | 30.56M |
| Change in Inventory | -184.4M | -92M | 152.5M | 391.3M | -178.8M | -359.8M | -100.5M | 489.1M | -48.46M | 53.66M | -32M | 162.16M | -4.32M | -62.14M | 18.19M | 137.98M |
| Change in Payables | -383.6M | 0 | 143.5M | 0 | -43.2M | 256M | -175.2M | -274M | -790K | -154.69M | 191.41M | 6.92M | -109.92M | 57.58M | 45.76M | -19.57M |
| Cash from Investing | 12.38B | 1.98B | -57.2M | 30.9M | -82.1M | -136.8M | -120.2M | -5.15B | -64.31M | -166.21M | -54.59M | -3.05B | -75.95M | -63.41M | -35.52M | -3.17B |
| Capital Expenditures | -30.2M | -70.3M | -25.3M | -60.7M | -101.3M | -131.4M | -121.2M | -104.1M | -82.35M | -68.72M | -68.31M | -56.5M | -36.94M | -36.78M | -27.96M | -38.79M |
| CapEx % of Revenue | 1.86% | 3.64% | 0.6% | 1.33% | 1.35% | 1.53% | 1.44% | 1.25% | 1.8% | 1.51% | 1.39% | 1.48% | 0.96% | 1.06% | 0.84% | 1.18% |
| Acquisitions | 12.41B | 0 | -45.1M | 0 | 0 | 0 | 1.5M | -5.06B | -105.25M | -95.35M | 7.39M | -3B | -29.03M | -55.77M | -12.21M | -3.14B |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 1.9M | 2.05B | 13.2M | 91.6M | 19.2M | 12.6M | -500K | 4.3M | 12.91M | -4.47M | 2.25M | 646K | -7.75M | 29.14M | 4.65M | 7.83M |
| Cash from Financing | -12.33B | -2.05B | -83M | -181.7M | -65M | -139.5M | -383.8M | 4.7B | -409.58M | -413.62M | -674.37M | 2.6B | 190.84M | -89.67M | -299.52M | 2.64B |
| Debt Issued (Net) | -7.37B | -2B | 11.4M | -174.6M | -32M | -32M | -343.7M | 3.87B | -400M | -233.16M | -721.25M | 2.63B | 190.63M | 39.56M | -97.91M | 1.13B |
| Equity Issued (Net) | -1.45B | -31.3M | -1.9M | -9.1M | 100K | 5.6M | 9M | 1B | 0 | -175M | 0 | 1000K | 0 | 1000K | -1000K | 1000K |
| Dividends Paid | -3.45B | -17.6M | 0 | 0 | -14.9M | -43M | -14.3M | -43.7M | 0 | 0 | 0 | 0 | 0 | -538.71M | -200M | 0 |
| Share Repurchases | -1.46B | -31.3M | -1.9M | -9.1M | 0 | 0 | 0 | 0 | -175M | -175M | -3.88M | -698K | 0 | 0 | 0 | 0 |
| Other Financing | -50.9M | -5.7M | -92.5M | 2M | -18.2M | -70.1M | -34.8M | -129.4M | -9.58M | -5.46M | 12.88M | -50.26M | 206K | -24.48M | 748K | -88.49M |
| Net Change in Cash | 101.1M | 259.5M | 119.5M | 145.7M | 37.8M | -161.6M | -76.3M | 140M | 4.22M | 25.75M | -134.66M | -166.44M | 383M | 81.94M | -52.73M | -396.39M |
| Free Cash Flow | -105.8M | 252.6M | 247.8M | 236.6M | 88.7M | -9.1M | 315M | 492.3M | 411.8M | 517.57M | 537.91M | 245.56M | 252.48M | 200.92M | 258.18M | 96.96M |
| FCF Margin % | -6.51% | 13.08% | 5.89% | 5.18% | 1.18% | -0.11% | 3.73% | 5.9% | 9.01% | 11.35% | 10.93% | 6.45% | 6.59% | 5.77% | 7.77% | 2.96% |
| FCF Growth % | -139.52% | 1.94% | 4.73% | 166.74% | 1074.73% | -102.89% | -36.01% | 19.55% | -20.44% | -3.78% | - | -2.74% | 25.66% | -22.18% | 166.28% | - |
| FCF per Share | -0.47 | 1.10 | 1.16 | 1.12 | 0.43 | -0.04 | 1.60 | 2.54 | 2.11 | 2.63 | 2.74 | 1.29 | 1.32 | 1.23 | 1.39 | 0.52 |
| FCF Conversion (FCF/Net Income) | -0.09x | 0.23x | -0.87x | -0.20x | -0.15x | -0.26x | -0.76x | -0.64x | 3.52x | 3.03x | 2.72x | -4.26x | 1.22x | 12.26x | 53.45x | -0.35x |
| Interest Paid | 0 | 0 | 649.8M | 654M | 563.2M | 525.9M | 0 | 0 | 231.28M | 216.74M | 260.77M | 207.33M | 184.93M | 199.34M | 172.11M | 108.37M |
| Taxes Paid | 0 | 0 | 100.4M | 0 | 130.7M | 79.4M | 0 | 0 | 112.13M | 100.93M | 148.98M | 122.57M | 98.64M | 80.89M | 81.14M | 39.96M |
Quick answers to the most common questions about buying VISN stock.
Vistance Networks, Inc. (VISN) generated $322.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Vistance Networks, Inc. (VISN) generated $252.6M 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.
Vistance Networks, Inc. (VISN) spent $70.3M 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, Vistance Networks, Inc. (VISN) returned $17.6M to shareholders via cash dividends and spent $31.3M on share repurchases. This shows the company's commitment to returning capital to its equity investors.
Key Metrics
Top Statement Risk
High debt maturity wall
Metrics are mathematically derived from official filings.
Earnings Quality and Cash Conversion
As reported in recent financial filings, CommScope's operating cash flow to net income ratio of 1.39 in 2025Q3 highlights a divergence where cash generation has consistently outpaced accounting earnings, suggesting that non-cash charges and restructuring costs have historically obscured the underlying cash-generating capacity of the business.
The persistent gap between net income and operating cash flow indicates that the company's GAAP profitability is heavily impacted by non-cash items, such as depreciation and amortization. Investors should monitor this conversion closely, as the ability to generate cash in excess of reported earnings is critical for servicing the company's substantial debt load.
Free Cash Flow Margin Recovery
Based on the provided quarterly data, CommScope's free cash flow margin has improved to 8.3% in 2025Q3, a significant recovery from the negative 20.4% margin observed in 2024Q1, reflecting a stabilization in operational efficiency and a reduction in the cash-draining impact of previous restructuring activities.
The trajectory of free cash flow suggests that the company is successfully transitioning toward a more sustainable cash-generation profile. However, the volatility in these margins warrants caution, as the company remains sensitive to cyclical shifts in carrier capital expenditure and potential supply chain disruptions.
Working Capital Volatility and Efficiency
According to the cash flow statements, working capital changes have been a significant source of volatility, with a $74.0 million outflow in 2025Q3 contrasting sharply with the $120.7 million inflow seen in 2023Q4, indicating that inventory and receivable management remains a primary driver of cash flow fluctuations.
The erratic nature of working capital suggests that the company is still navigating the complexities of channel inventory management and shifting demand patterns. This volatility implies that cash flow remains susceptible to sudden changes in customer ordering behavior, which could pressure liquidity if not managed with extreme precision.
Capital Intensity and Asset Maintenance
As indicated by financial statements, CommScope maintains a disciplined capital expenditure profile with a CapEx-to-revenue ratio of 1.0% in 2025Q3, suggesting that management is prioritizing debt reduction and liquidity preservation over aggressive investment in new physical infrastructure or capacity expansion at this stage of the cycle.
The low capital intensity appears to be a strategic choice to conserve cash, though it may limit the company's ability to innovate or respond to competitive threats in the long term. Analysts should investigate whether this level of spending is sufficient to maintain the company's competitive moat in the face of evolving networking standards.