Basically yes: The lifetime sum of net income should be approximately equal to the firm’s lifetime cash flows.

Cash flows just have different timing. For example, a firm’s capital expenditures are not booked immediately, but the sum of all lifetime depreciation should add up to the sum of all lifetime capital expenditures. This abstracts away from some discounting that accountants are doing, and many specific accounting cases that we have not covered, but the intent of earnings is that it should come out alike.