Real-world examples of comparative cash flow statement examples

Side‑by‑side examples of comparative cash flow statement examples

Let’s start where most people wish textbooks would start: with actual numbers. A comparative cash flow statement simply places at least two periods next to each other so you can see how cash inflows and outflows are shifting.

Below is a simplified, two-year example of a comparative cash flow statement for a fictional SaaS startup, CloudTrack Inc. All figures are in USD thousands.

CloudTrack Inc. – Comparative Cash Flow Statement (2023 vs. 2024)
Operating activities

• Net income: 2023 = 200, 2024 = 450
• Depreciation & amortization: 2023 = 40, 2024 = 65
• Change in accounts receivable: 2023 = (120), 2024 = (260)
• Change in deferred revenue: 2023 = 180, 2024 = 320
  Net cash from operating activities: 2023 = 300, 2024 = 575

Investing activities

• Capital expenditures (servers, equipment): 2023 = (250), 2024 = (420)
• Software development capitalization: 2023 = (60), 2024 = (90)
  Net cash used in investing activities: 2023 = (310), 2024 = (510)

Financing activities

• Proceeds from Series B equity: 2023 = 2,000, 2024 = 0
• Repayment of bank loan: 2023 = (50), 2024 = (80)
  Net cash from financing activities: 2023 = 1,950, 2024 = (80)

Net increase (decrease) in cash: 2023 = 1,940, 2024 = (15)

This is one of the best examples of comparative cash flow statement examples for a high-growth startup: operating cash is improving, but the business is still heavily influenced by past funding rounds and large reinvestment.

Example of a retailer’s comparative cash flow statement (inventory tells the story)

Retail is where cash flow discipline makes or breaks a business. Here’s an example of comparative cash flow statement examples for a mid-size apparel retailer, StyleStreet LLC, showing 2023 vs. 2024.

StyleStreet LLC – Comparative Cash Flow Statement (USD thousands)

Operating activities

• Net income: 2023 = 120, 2024 = 90
• Depreciation: 2023 = 35, 2024 = 40
• Change in inventory: 2023 = (60), 2024 = (210)
• Change in accounts payable: 2023 = 45, 2024 = 130
  Net cash from operating activities: 2023 = 140, 2024 = 50

Investing activities

• Store remodels and fixtures: 2023 = (80), 2024 = (40)
  Net cash used in investing activities: 2023 = (80), 2024 = (40)

Financing activities

• New revolving credit facility: 2023 = 0, 2024 = 200
• Dividend payments: 2023 = (30), 2024 = (30)
  Net cash from financing activities: 2023 = (30), 2024 = 170

Net increase (decrease) in cash: 2023 = 30, 2024 = 180

Here, the comparative view shows something you’d miss in a single year: cash from operations is shrinking even as cash on hand increases. The 2024 cash boost is driven by debt, not business performance. This is exactly why investors want real examples of comparative cash flow statement examples instead of one isolated period.

Manufacturing example of comparative cash flow statement examples (capex heavy)

Manufacturers live and die by capital expenditures and working capital. This example of comparative cash flow statement examples shows a fictional company, PrecisionParts Corp., investing aggressively in automation.

PrecisionParts Corp. – Comparative Cash Flow Statement (USD millions)

Operating activities

• Net income: 2023 = 18, 2024 = 24
• Depreciation: 2023 = 10, 2024 = 14
• Change in inventory: 2023 = (4), 2024 = (2)
• Change in accounts receivable: 2023 = (3), 2024 = (1)
• Change in accounts payable: 2023 = 2, 2024 = 3
  Net cash from operating activities: 2023 = 23, 2024 = 38

Investing activities

• Purchase of plant and equipment: 2023 = (25), 2024 = (45)
• Proceeds from sale of old equipment: 2023 = 2, 2024 = 3
  Net cash used in investing activities: 2023 = (23), 2024 = (42)

Financing activities

• Proceeds from term loan: 2023 = 15, 2024 = 10
• Repayment of long-term debt: 2023 = (5), 2024 = (8)
• Dividends paid: 2023 = (3), 2024 = (4)
  Net cash from financing activities: 2023 = 7, 2024 = (2)

Net increase (decrease) in cash: 2023 = 7, 2024 = (6)

The pattern here is classic: operating cash is trending up, but so is capital spending. A lender looking at these two periods side-by-side sees a company transitioning from debt-funded expansion toward self-funded investment. That story only emerges when you compare, not when you look at a single statement.

For a real-world benchmark of how manufacturers present cash flows, you can review filings in the EDGAR database from the U.S. Securities and Exchange Commission (SEC): https://www.sec.gov/edgar/search

Startup vs. mature company: contrasting examples include different cash profiles

Another way to use examples of comparative cash flow statement examples is to contrast a young, growth-focused company with a mature, dividend-paying one.

Imagine two businesses:

• GreenCharge Energy – a fast-growing clean tech startup
• MetroUtilities Co. – a regulated utility with stable cash flows

Over 2023–2024, GreenCharge shows:

• Rising operating cash flow, but still volatile due to large swings in receivables and inventory for battery components.
• Heavy investing outflows for new facilities and patents.
• Financing inflows led by venture capital rounds and government clean-energy grants.

MetroUtilities, over the same period, shows:

• Stable, predictable operating cash with only minor working capital changes.
• Modest, recurring investing outflows for grid maintenance and upgrades.
• Financing cash dominated by bond issuances and consistent dividend payments.

Looking at these comparative cash flow statement examples side-by-side, you immediately see different risk profiles. GreenCharge is all about growth and funding runway; MetroUtilities is about stability and payout capacity. The format of the statement is identical, but the story is radically different.

Comparative cash flow statement examples for negative net income but positive cash

One of the best examples of comparative cash flow statement examples you can study is the classic “accounting loss, positive cash” scenario. This happens a lot in high-growth companies and turnarounds.

Consider StreamWave Media, a fictional streaming platform.

StreamWave Media – Comparative Cash Flow Snapshot (USD millions)

2023

• Net income: (35)
• Cash from operating activities: 10
• Cash used in investing: (60)
• Cash from financing: 80

2024

• Net income: (10)
• Cash from operating activities: 45
• Cash used in investing: (55)
• Cash from financing: 10

The comparative view shows:

• Losses are shrinking.
• Operating cash is improving sharply as subscriber renewals and upfront payments grow.
• Financing cash inflows are tapering off; the business is starting to stand on its own.

Investors love these kinds of real examples because they highlight why net income alone can be misleading. Cash from operations turning positive across comparative periods is often a stronger sign of progress than one year of accounting profit.

For more background on how cash flow differs from profit and why analysts compare periods, it’s worth scanning educational material from universities like MIT OpenCourseWare: https://ocw.mit.edu

Small business example of comparative cash flow statement examples

You don’t need to be listed on a stock exchange to benefit from this tool. Here’s a lean, small-business style example of comparative cash flow statement examples for BrewCorner Café, a neighborhood coffee shop.

BrewCorner Café – Comparative Cash Flow Snapshot (USD)

Operating activities

• Net income: 2023 = 48,000; 2024 = 62,000
• Depreciation (espresso machines, furniture): 2023 = 6,000; 2024 = 6,000
• Change in inventory (beans, milk, pastries): 2023 = (4,000); 2024 = (7,000)
• Change in accounts payable: 2023 = 2,500; 2024 = 4,500
  Net cash from operating activities: 2023 = 52,500; 2024 = 65,500

Investing activities

• New espresso machine: 2023 = (10,000); 2024 = 0
• Minor renovations: 2023 = 0; 2024 = (8,000)
  Net cash used in investing activities: 2023 = (10,000); 2024 = (8,000)

Financing activities

• Owner contributions: 2023 = 15,000; 2024 = 0
• Loan repayment: 2023 = (3,000); 2024 = (5,000)
  Net cash from financing activities: 2023 = 12,000; 2024 = (5,000)

Net increase in cash: 2023 = 54,500; 2024 = 52,500

The owner can compare 2023 and 2024 to answer practical questions:

• Is the café generating enough cash to cover new equipment and loan payments?
• How fast is cash from operations growing relative to sales?
• Can the business reduce reliance on owner contributions or bank financing?

These are the same questions a lender or potential buyer would ask while reviewing examples of comparative cash flow statement examples.

For small business owners, the U.S. Small Business Administration offers accessible guidance on cash flow management: https://www.sba.gov

How to read patterns in comparative cash flow statement examples

Once you’ve seen a few real examples, patterns start to jump out. When you study multiple examples of comparative cash flow statement examples, focus on three big storylines.

1. Operating cash vs. net income

Ask yourself: Is cash from operations moving in the same direction as net income across periods?

• If net income rises but operating cash falls, you may be looking at aggressive revenue recognition, slower collections, or ballooning inventory.
• If net income is flat or negative but operating cash is improving, the company may be closer to financial health than the income statement suggests.

Comparative cash flow statement examples from 2024 and 2025 will be especially interesting in sectors like e-commerce and software, where subscription models and buy-now-pay-later trends can distort timing of cash receipts.

2. Investing cash: growth vs. maintenance

Looking at several periods side-by-side, you can separate one-off investments from ongoing needs.

• A spike in capital expenditures in one year might signal a new plant, a major software overhaul, or a strategic acquisition.
• A steady pattern of moderate investing outflows usually points to maintenance spending.

This matters more in 2024–2025 as interest rates remain higher than the ultra-low era. Companies are being more selective about big-ticket projects, and that caution shows up clearly in comparative cash flow statement examples.

3. Financing cash: who is funding the story?

Financing activities tell you whether the business is funding itself or leaning on outside capital.

• Rising debt or equity inflows across periods often means the company is in expansion mode—or covering weak operations.
• Growing share repurchases and dividends typically signal confidence and mature cash generation.

By comparing multiple years, you can see whether financing cash flows are temporary (e.g., a one-time bond issuance) or structural (e.g., constant refinancing to plug operating gaps).

2024–2025 trends affecting comparative cash flow statement examples

When you look at the latest real examples of comparative cash flow statement examples from public companies, a few themes stand out:

• Higher interest costs: As rates rose after 2022, more cash is flowing out through interest payments. This shows up in operating activities under U.S. GAAP. Comparative statements from 2022–2025 often reveal shrinking free cash flow even when revenue is growing.
• Capex reprioritization: Many firms are trimming physical expansion while increasing spending on AI, automation, and cybersecurity. So you’ll see lower spending on buildings and higher outflows on software and digital infrastructure.
• Working capital volatility: Supply chain disruptions and inventory corrections (especially in retail, electronics, and automotive) have created big swings in inventory and payables. Comparative cash flow statement examples from these sectors show dramatic year-to-year changes in working capital.

If you want to see how this plays out in practice, skim recent annual reports of large U.S. companies via the SEC’s site: https://www.sec.gov/edgar/search

FAQ: examples of comparative cash flow statement examples

Q1. Where can I find real examples of comparative cash flow statement examples from public companies?
You can download real comparative cash flow statements from the annual Form 10‑K filings of U.S.-listed companies on the SEC’s EDGAR database. The statement of cash flows is usually presented with at least three years side-by-side, which gives you excellent practical examples.

Q2. Can you give an example of how comparative cash flow statements help investors?
An investor might compare a company’s 2022–2024 cash flows and see that net income is rising, but cash from operations is flat because receivables and inventory are ballooning. That example of comparative cash flow statement analysis would raise questions about the quality of earnings and the risk of a liquidity squeeze.

Q3. What are common red flags in comparative cash flow statement examples?
Red flags include persistent negative operating cash flow despite reported profits, heavy reliance on financing cash inflows to cover operating shortfalls, and large, unexplained swings in working capital from one year to the next. Looking at multiple periods makes these issues much easier to spot.

Q4. Are comparative cash flow statements only useful for big corporations?
No. The same logic applies to freelancers, small businesses, nonprofits, and even personal finance. Any time you compare cash flows across periods, you get insight into sustainability and trends. The format might be simpler, but the analytical payoff is the same.

Q5. How do comparative cash flow statements differ from comparative income statements?
Comparative income statements focus on revenue and expenses measured under accounting rules, while comparative cash flow statements track actual cash movements. Many analysts start with comparative income statements to understand profitability, then use comparative cash flow statement examples to test whether those profits are backed by real cash.