DXP ENTERPRISES INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
DXPE$155.40-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Twelve Months Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $88,677 | $70,489 | $68,812 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Depreciation | 10,372 | 9,019 | 8,423 |
| Amortization of intangibles and finance lease assets | 28,478 | 24,386 | 21,682 |
| Amortization of debt issuance costs | 4,041 | 3,646 | 2,991 |
| Gain on sale of property and equipment | (491) | — | — |
| Provision for (recovery of) credit losses | 220 | (887) | (885) |
| Payment of contingent consideration liability in excess of acquisition-date fair value | (1,228) | (108) | (160) |
| Fair value adjustment on contingent consideration | 1,406 | 745 | 1,738 |
| Loss on debt extinguishment | — | 494 | 1,201 |
| Restricted stock compensation expense | 5,708 | 4,714 | 3,072 |
| Deferred income taxes | 27,358 | (14,990) | (9,059) |
| Other non-cash items | (11,390) | 3,877 | 2,342 |
| Changes in operating assets and liabilities, net of effects of businesses acquired: | |||
| Accounts receivable | (41,502) | (12,552) | 13,293 |
| Cost and estimated profits in excess of billings | (3,064) | (8,506) | (18,720) |
| Inventories | 1,037 | 8,432 | (2,026) |
| Prepaid expenses and other assets | (5,732) | 2,643 | 3,830 |
| Trade accounts payable | 532 | (3,473) | 2,144 |
| Accrued expenses | 17,875 | 2,009 | 5,649 |
| Billings in excess of costs and estimated profits | 2,951 | 3,263 | (916) |
| Income taxes | (30,984) | 9,010 | 2,811 |
| Net cash provided by operating activities | $94,264 | $102,211 | $106,222 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of property and equipment | (40,286) | (25,068) | (12,263) |
| Proceeds from the sale of property and equipment | 2,715 | — | — |
| Acquisition of businesses, net of cash acquired | (61,675) | (156,624) | (10,384) |
| Net cash used in investing activities | $(99,246) | $(181,692) | $(22,647) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Borrowings on asset-backed credit facility | — | 6,000 | 7,870 |
| Repayments on asset-backed credit facility | — | (6,000) | (7,870) |
| Borrowings on Senior Secured Term Loan B | 848,005 | 649,500 | 550,000 |
| Repayments on Senior Secured Term Loan B | (643,005) | (544,500) | (424,856) |
| Principal payments on debt | (7,091) | (5,749) | (4,652) |
| Debt issuance costs | (3,173) | (2,309) | (12,061) |
| Shares repurchased held in treasury | (17,109) | (29,007) | (56,215) |
| Payment for acquisition contingent consideration liability | (7,538) | (5,000) | (5,673) |
| Preferred stock dividends paid | (90) | (90) | (90) |
| Payment for employee taxes withheld from stock awards | (4,539) | (1,826) | (527) |
| Principal payments on finance leases | (6,592) | (4,216) | (2,347) |
| Net cash provided by financing activities | $158,868 | $56,803 | $43,579 |
| Effect of foreign currency on cash | 1,486 | (2,122) | (60) |
| Net change in cash and restricted cash | 155,372 | (24,800) | 127,094 |
| Cash and restricted cash at beginning of year | 148,411 | 173,211 | 46,117 |
| Cash and restricted cash at end of year | $303,783 | $148,411 | $173,211 |
| Supplemental cash flow information (Note 15) | |||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.