MarketXLS

Net Cash Flow From Operations (Historical)

Returns the historical net cash flow from operating activities (CFO). This is cash generated from the company's core business operations, starting from net income and adjusting for non-cash items and working capital changes.

Parameters

Parameter Required Description
Symbol Yes Stock ticker symbol (e.g., AAPL, MSFT)
Year Yes Fiscal year (2023) or period code (lq, ly)
Quarter No Quarter number 1-4 (default: 1)
TTM No Set to "TTM" for trailing twelve months

Period Codes

Code Description
lq Last reported quarter
lq-1 One quarter ago
ly Last fiscal year
ly-1 Previous fiscal year
lt Last twelve months (TTM)

Notes

  • Most important cash flow metric for fundamental analysis
  • Starts with net income, adds back non-cash expenses
  • Adjusts for working capital changes
  • Positive CFO indicates healthy operations

Syntax

=hf_Net_Cash_Flow_from_Operations(Symbol, Year, [Quarter], [TTM])
Excel Desktop (Windows)

Parameters

symbolstringRequired

Stock ticker symbol

yearstringRequired

Fiscal year or period code (e.g., 2023, lq, ly)

quarterstring

Calendar quarter (1-4)

TTMstring

Set to 'TTM' for trailing twelve months

Returns

number

Net cash flow from operating activities

Examples

=hf_Net_Cash_Flow_from_Operations("AAPL", 2023, 4)
Q4 2023 operating cash flow
=hf_Net_Cash_Flow_from_Operations("MSFT", "ly")
Last fiscal year
=hf_Net_Cash_Flow_from_Operations("GOOGL", 2023, , "TTM")
Trailing 12 months
=hf_Net_Cash_Flow_from_Operations(A1, B1, C1)
From cell references

When to Use

  • Evaluating cash generation ability
  • Computing free cash flow (CFO - CapEx)
  • Quality of earnings analysis
  • Cash flow coverage ratios
  • Comparing profitability to cash generation

When NOT to Use

Scenario Use Instead
Need investing cash flow hf_Net_Cash_Flow_from_Investing()
Need financing cash flow hf_Net_Cash_Flow_from_Financing()
Need total cash change hf_Net_Cash_Flow_Change_in_Cash_and_Cash_Equivalents()
Need capital expenditures hf_Capital_Expenditure()

Common Issues & FAQ

How do I calculate free cash flow?

Free Cash Flow = CFO - CapEx: =hf_Net_Cash_Flow_from_Operations("AAPL",2023) - ABS(hf_Capital_Expenditure("AAPL",2023))

Why is CFO different from net income?

CFO adjusts net income for non-cash items (depreciation, stock comp) and working capital changes. Large differences may indicate earnings quality issues.

Is positive CFO always good?

Generally yes, but context matters. Very high CFO from accounts payable increases may be temporary.

Excel Templates Using Net Cash Flow From Operations (Historical)

These ready-made MarketXLS templates call hf_Net_Cash_Flow_from_Operations() in their worksheet formulas. Open one to see the function working inside a complete model.

Related Formulas

More MarketXLS Historical Fundamentals formulas you can use in the same worksheet:

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