Landstar System, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $115.0M | $195.9M | $264.4M | $430.9M | $381.5M | $192.1M | $227.7M | $255.3M |
| Depreciation & Amortization | $46.4M | $56.7M | $58.2M | $57.5M | $49.6M | $45.9M | $44.5M | $43.6M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $6.0M | $3.4M | $4.3M | $12.4M | $27.5M | $4.6M | $4.2M | $18.3M |
| Net Cash from Operating Activities | $224.9M | $286.6M | $393.6M | $622.7M | $276.7M | $210.7M | $307.8M | $297.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $9.9M | $31.0M | $25.7M | $26.0M | $23.3M | $30.6M | $19.4M | $9.7M |
| Business Acquisitions | — | — | — | $0 | $0 | $2.8M | $0 | — |
| Net Cash from Investing Activities | $-2.4M | $-10.5M | $-6.5M | $-24.8M | $-73.3M | $-28.4M | $-18.6M | $-8.2M |
| Financing Activities | ||||||||
| Dividends Paid | $124.8M | $120.5M | $117.1M | $115.7M | $112.0M | $109.5M | $27.9M | $88.9M |
| Stock Repurchases | $179.9M | $81.4M | $53.9M | $286.0M | $122.7M | $116.0M | $88.6M | $208.1M |
| Net Cash from Financing Activities | $-343.1M | $-237.3M | $-248.0M | $-475.7M | $-232.9M | $-252.0M | $-170.6M | $-330.7M |
| Net Change in Cash | $-118.3M | $34.0M | $141.5M | $120.0M | $-29.8M | $-70.2M | $119.8M | $-42.7M |
| Free Cash Flow | $215.0M | $255.6M | $368.0M | $596.7M | $253.5M | $180.1M | $288.4M | $288.2M |