| Cash flow | Growing period | Mature period | Degenerating period | |||||
| Start−up stage | Growing stage | mature | Degenerating | Degenerating | Degenerating | Eliminating | Eliminating | |
| Operating cash flow | − | + | + | − | + | + | − | − |
| Investing cash flow | − | − | − | − | + | + | + | + |
| Financing cash flow | + | + | − | − | + | − | + | − |