FORRESTER RESEARCH, INC.
Cash Flow Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $15.1M | $17.7M | $12.0M | $10.9M | $13.0M | $26.3M | $22.0M | $20.5M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $6.6M | $7.8M | $8.2M | $9.3M | $9.3M | $8.9M | $5.4M | $3.6M |
| Amortization | $781.0K | $831.0K | $891.0K | $2.2M | $2.2M | $2.4M | $2.6M | $3.6M |
| Stock-Based Compensation | $8.5M | $8.0M | $8.3M | $7.4M | $6.1M | $5.4M | $3.6M | $4.9M |
| Net Cash from Operating Activities | $37.5M | $44.5M | $34.0M | $28.8M | $30.7M | $53.1M | $55.4M | $38.7M |
| Investing Activities | ||||||||
| Capital Expenditures | $7.9M | $4.1M | $3.9M | $1.5M | $3.1M | $5.1M | $39.8M | $13.4M |
| Business Acquisitions | — | — | — | — | — | — | $7.5M | $1.7M |
| Net Cash from Investing Activities | $-970.0K | $-17.9M | — | — | $57.6M | $-4.1M | $-53.0M | $15.6M |
| Financing Activities | ||||||||
| Dividends Paid | $13.6M | $13.0M | $12.2M | $12.0M | $12.4M | $12.6M | — | $68.4M |
| Stock Repurchases | $40.0M | $1.8M | $20.9M | $73.2M | $118.2M | $29.8M | $18.4M | $21.3M |
| Net Cash from Financing Activities | $-37.6M | $-113.0K | — | — | $-113.4M | $-31.7M | $-6.3M | $-61.8M |
| Net Change in Cash | $2.8M | $23.6M | $3.7M | $-24.5M | $-24.7M | $17.8M | $-5.9M | $-10.9M |
| Free Cash Flow | $29.6M | $40.3M | $30.0M | $27.3M | $27.6M | $48.0M | $15.7M | $25.2M |