# Cash flow & returns

Informational only - not investment advice.

Book: [Reading Financial Data - Step by Step](/guide/)

Read cash generated by the business, cash returned to shareholders, and basic return ratios.

## Lessons
- [What is operating cash flow?](/guide/cash-flow-returns/operating-cash-flow/): Operating cash flow is cash generated or used by the company's main operations.; as of 2025-10-31
- [What is free cash flow?](/guide/cash-flow-returns/free-cash-flow/): Free cash flow subtracts capital expenditures from operating cash flow.; as of 2025-10-31
- [Dividends and buybacks](/guide/cash-flow-returns/dividends-and-buybacks/): Dividends and share buybacks are two separate cash outflow lines.; as of 2025-10-31
- [What is ROE?](/guide/cash-flow-returns/what-is-roe/): ROE compares net income with stockholders' equity.; as of 2025-10-31
- [What is ROA?](/guide/cash-flow-returns/what-is-roa/): ROA compares net income with total assets.; as of 2026-02-13
- [Reading leverage](/guide/cash-flow-returns/reading-leverage/): Liabilities / equity compares what a company owes with owners' equity.; as of 2026-02-13
- [The current ratio](/guide/cash-flow-returns/current-ratio/): The current ratio compares current assets with current liabilities.; as of 2025-10-31