Analyzing AstraZeneca’s Cash Flow and Valuation

In the first quarter, AstraZeneca’s (AZN) cash outflow from operating activities rose YoY (year-over-year) to $140 million from $88 million, due to an increase in the movement of working capital and higher short-term provisions for the launch of new medicines. AstraZeneca generated $273 million from investing activities in the first quarter, compared with $146 million in Q1 2017. This change was due to lower capital expenditure and the timing of receipts on disposal of intangible assets.