Calfrac Well Services Ltd. (TSX:CFW)

Calfrac Well Services Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	60.56	30.27	10.38	190.67	11.68	-82.81
Depreciation & Amortization	121.77	124.79	135.89	116.64	122.23	127.93
Loss (Gain) From Sale of Assets	-6.81	-1.24	0.86	-4.67	5.33	0.4
Asset Writedown & Restructuring Costs	0.23	0.23	12.69	-41.56	10.73	0.71
Stock-Based Compensation	0.48	-0.86	-1.17	5.12	2.78	2.27
Other Operating Activities	-5.53	6.66	-16.74	22.89	-10.86	-13.71
Change in Accounts Receivable	-13.37	8.76	-7.92	-9.57	-81.15	-50.35
Change in Inventory	22.43	38.72	-22.49	-17.65	-47.83	-18.72
Change in Accounts Payable	48.32	-37.35	10.16	8.25	55.67	16.93
Change in Income Taxes	-12.5	9.08	10.49	-2.56	2.83	-1.33
Change in Other Net Operating Assets	5.25	16.37	-3.65	-13.67	-4.55	3.35
Operating Cash Flow	213.56	199.6	127.18	281.63	107.53	-15.34
Operating Cash Flow Growth	14.62%	56.93%	-54.84%	161.91%	-	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-76.09	-129.04	-183.84	-168.64	-79.81	-63.43
Sale of Property, Plant & Equipment	12.75	11.36	14.71	22.55	3.58	0.94
Other Investing Activities	-0.42	-6.96	-0.52	1.32	1.91	1.2
Investing Cash Flow	-63.77	-124.63	-169.65	-144.77	-74.33	-61.29

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	15	-
Long-Term Debt Issued	-	198.5	119.97	92.2	17.76	59.56
Total Debt Issued	179.31	198.5	119.97	92.2	32.76	59.56
Short-Term Debt Repaid	-	-	-	-	-15	-
Long-Term Debt Repaid	-	-320.29	-76.56	-188.67	-54.17	-13.89
Total Debt Repaid	-408.24	-320.29	-76.56	-188.67	-69.17	-13.89
Net Debt Issued (Repaid)	-228.92	-121.79	43.4	-96.47	-36.4	45.67
Issuance of Common Stock	41.9	34.8	0.54	12.34	2.87	0.18
Financing Cash Flow	-187.02	-87	43.94	-84.13	-33.53	45.85

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-18.98	-32.08	4.11	-25.94	20.07	-0.4
Net Cash Flow	-56.22	-44.11	5.59	26.8	19.74	-31.18

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	137.46	70.56	-56.66	113	27.72	-78.77
Free Cash Flow Growth	231.38%	-	-	307.61%	-	-
Free Cash Flow Margin	10.20%	5.08%	-3.61%	6.06%	1.85%	-8.95%
Free Cash Flow Per Share	1.46	0.80	-0.65	1.28	0.33	-2.10
Levered Free Cash Flow	142.49	81.37	-70.93	50.05	33.36	-51
Unlevered Free Cash Flow	157.17	101.68	-48.16	71.71	63.87	-27.41

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	24.22	33.77	29.34	21.1	33.05	25.13
Cash Income Tax Paid	17.18	17.18	3.6	9.83	3.95	2.82
Change in Working Capital	50.13	35.58	-13.41	-35.19	-75.03	-50.13

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 27, 2026

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