# Operating Cash Flow

Cash generated from core business operations.

## Definition

Operating cash flow is the cash actually generated by the day-to-day business — profit converted to cash, adjusted for non-cash charges (depreciation), working capital changes, and other operating items.

## Why it matters

Operating cash flow tells you whether reported profits are translating into real cash. A persistent gap between net income and operating cash flow is a classic red flag — accruing earnings on paper without collecting them in cash.

## How Standard Equity uses it

The starting point for free cash flow calculation. We don't surface it directly in the main table but it underlies every cash-flow metric we show.

## The metric

| Category | Cash Flow |
| -------- | --------- |
| Unit     | $M        |

[← Back to glossary](https://standard-equity.report/glossary)