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A. O. Smith cash flow statement

In fiscal 2025, A. O. Smith's operations generated $617m of cash; it spent $70.8m on capital projects, leaving free cash flow of $546m. It returned $196m in dividends and $401m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations26312559144280264352447326449456562641391670582617613
Depreciation and amortisation384147556060636570727880787778798595
Stock-based pay——6711119910101313121112151415
Capital spending4354547098867381948564577570731087151
Free cash flow22071574182178279366232364392505566321598474546562
Free cash flow after stock pay——−167171167270357222354379493554310586459532547
Dividends paid212528334354688497130149159170177184190196199
Share buybacks——24227410412813513920328857367404307306401326

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from A. O. Smith's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to A. O. Smith.