Orion Group Holdings, Inc. cash flow statement ORN

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Orion Group Holdings, Inc. generated $28.1 million of cash from operations, up 121.4% from the year before. It spent $38.9 million on capital expenditures. Free cash flow was negative, at -$10.8 million.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the year before.

Line	FY 2026 Sep 30, 2026	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020	FY 2019 Dec 31, 2019	FY 2018 Dec 31, 2018	FY 2017 Dec 31, 2017	FY 2016 Dec 31, 2016
Operating
Depreciation and amortization	19 +37.9%	14 -12.0%	16 -17.5%	19 -9.9%	21 -7.5%	23 -5.4%	24 -8.4%	26 -17.9%	32 +7.8%	29 -13.7%	34 +21.6%
Stock-based compensation	7 +35.7%	5 +35.9%	4 +96.3%	2 -25.9%	3 +14.7%	2 +20.2%	2 -27.4%	3 +23.0%	2 -2.8%	2 +1.0%	2 +0.2%
Operating cash flow	3 -88.8%	28 +121.4%	13 -26.2%	17 +79.6%	10 +13762.3%	0 -99.9%	46 +6529.1%	-1 -103.3%	22 -35.7%	34 +47.4%	23 -8.1%
Investing
Capital expenditures	41 +43.2%	39 +175.8%	14 +58.2%	9 -38.9%	15 -14.1%	17 +15.5%	15 -14.6%	17 -2.9%	18 +65.1%	11 -42.7%	19 -10.0%
Investing cash flow	-60 -126.6%	-14 -19.3%	-11 -629.1%	2 +122.4%	-10 -191.3%	11 +439.7%	-3 +76.5%	-13 -0.2%	-13 -31.9%	-10 +43.0%	-18 +86.3%
Financing
Debt repaid	13	23 +53.3%	15	—	—	—	—	—	—	0	0 -100.0%
Stock buybacks	—	—	—	—	—	—	0	—	—	0	0 -100.0%
Financing cash flow	58 +336.7%	-39 -932.3%	-4 -148.9%	8 +193.3%	-8 -139600.0%	0 +100.0%	-42 -757.5%	6 +171.4%	-9 +40.9%	-15 -134.8%	-7 -109.8%
Change in cash
Free cash flow	-38 -2776.8%	-11 -663.0%	-1 -117.1%	8 +264.8%	-5 +70.3%	-17 -153.9%	31 +274.9%	-18 -524.8%	4 -82.0%	23 +427.8%	4 +1.3%
Per share
Free cash flow per share	-0.95 -2713.8%	-0.27 -569.5%	-0.04 -115.9%	0.26 +259.9%	-0.16 +70.9%	-0.55 -152.8%	1.04 +270.3%	-0.61 -513.2%	0.15 -82.1%	0.83 +412.6%	0.16 +0.7%
Shareholder returns
Returned to shareholders	—	—	—	—	—	—	0	—	—	0	0
Share of free cash flow	—	—	—	—	—	—	0.60%	—	—	0.00%	0.00%
Ratios
Free cash flow margin	-4.14%	-1.27%	-0.18%	1.16%	-0.67%	-2.81%	4.41%	-2.53%	—	—	—
Capital expenditures to revenue	4.47%	4.56%	1.77%	1.25%	1.95%	2.82%	2.07%	2.43%	—	—	—
Stock-based compensation to revenue	0.75%	0.64%	0.50%	0.29%	0.37%	0.40%	0.28%	0.39%	—	—	—
Cash conversion	0.53x	11.28x	—	—	—	—	2.28x	—	—	85.33x	—

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. The first column is the trailing twelve months through the latest quarter. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry: Heavy Construction Other Than Bldg Const - Contractors (SIC 1600)
Listed as: ORN (NYSE)
Fiscal year ends: December 31
Headquarters: Houston, TX
SEC filer status: Accelerated filer
SEC CIK: 1402829
Former names: Orion Marine Group Inc (until May 23, 2016)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.