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Agilent Technologies cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$439M in Q3 FY26 · $1.3B over twelve months

Operating cash flow$519M
Capital spending−$80.0M
Free cash flow+$439M
Cash / net income1.4×
Cash conversion cycle127 days

Analysis

In Q3 FY26, Agilent Technologies generated $519M of operating cash flow and spent $80.0M on capital projects, leaving free cash flow of $439M. That is $180M more than in Q3 FY25 ($259M).

Over the twelve months to Jul 31, 2026, operating cash flow was $1.6B; the largest uses were acquisitions ($950M), buybacks ($380M), capital spending ($342M); besides operations, cash came from net borrowing (+) / repaid (−) ($540M), shares issued ($75.0M); the cash balance rose by $223M.

Operating cash flow was $519M against net income of $362M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue +$67.0M, depreciation & amortization +$66.0M, employee-related liabilities +$34.0M.

Its cash conversion cycle was 127 days (receivables 73 + inventory 121 − payables 67).

Free cash flow

Agilent Technologies: free cash flow by quarterAgilent Technologies: free cash flow by quarter$388MQ4 FY24$334MQ1 FY25$107MQ2 FY25$259MQ3 FY25$452MQ4 FY25$175MQ1 FY26$201MQ2 FY26$439MQ3 FY26
Operating cash flow less capital spending.
Agilent Technologies: operating cash flow against capital spendingAgilent Technologies: operating cash flow against capital spendingOperating cash flowCapital spending$481M$93.0MQ4 FY24$431M$97.0MQ1 FY25$221M$114MQ2 FY25$362M$103MQ3 FY25$545M$93.0MQ4 FY25$268M$93.0MQ1 FY26$277M$76.0MQ2 FY26$519M$80.0MQ3 FY26
Latest (Q3 FY26): Operating cash flow $519M, Capital spending $80.0M.

Capital allocation, year by year

Agilent Technologies: where the cash came from (up) and went (down), by fiscal yearAgilent Technologies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY21: Operating cash flow $1.5BFY21: Net borrowing $281MFY21: Shares issued $55.0MFY21: Asset sales $1.0MFY21: Capital spending −$188MFY21: Acquisitions −$547MFY21: Buybacks −$788MFY21: Dividends −$236M$1.8BFY21FY22: Operating cash flow $1.3BFY22: Net borrowing $26.0MFY22: Shares issued $58.0MFY22: Capital spending −$291MFY22: Acquisitions −$52.0MFY22: Buybacks −$1.1BFY22: Dividends −$250M$1.4BFY22FY23: Operating cash flow $1.8BFY23: Net borrowing −$35.0MFY23: Shares issued $67.0MFY23: Asset sales $50.0MFY23: Capital spending −$298MFY23: Acquisitions −$51.0MFY23: Buybacks −$575MFY23: Dividends −$265M$1.9BFY23FY24: Operating cash flow $1.8BFY24: Net borrowing $597MFY24: Shares issued $77.0MFY24: Capital spending −$378MFY24: Acquisitions −$862MFY24: Buybacks −$1.1BFY24: Dividends −$274M$2.4BFY24FY25: Operating cash flow $1.6BFY25: Net borrowing −$41.0MFY25: Shares issued $72.0MFY25: Capital spending −$407MFY25: Acquisitions $4.0MFY25: Buybacks −$425MFY25: Dividends −$282M$1.6BFY25
Over these 5 years operating cash flow totalled $7.9B; the largest uses were buybacks ($4.1B) and capital spending ($1.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.8B
Debt$3.9B
Net debt$2.2B

Agilent Technologies funds itself: free cash flow was $1.3B over the last twelve months, and $1.8B of cash and investments stands against $3.9B of debt.

Where the cash came from and went

Agilent Technologies: sources (+) and uses (−) of cash, Q3 FY26Agilent Technologies: sources (+) and uses (−) of cash, Q3 FY26Acquisitions−$950MNet borrowing (+) / repaid (−)$597MOperating cash flow$519MCapital spending−$80.0MBuybacks−$78.0MDividends−$72.0MCash drawn (+) / kept (−)$49.0MShares issued$31.0MExchange rates−$7.0MOther financing−$5.0MTaxes on employees’ shares−$2.0MOther investing−$2.0M
Agilent Technologies: sources (+) and uses (−) of cash, TTM to Q3 FY26Agilent Technologies: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$1.6BAcquisitions−$950MNet borrowing (+) / repaid (−)$540MBuybacks−$380MCapital spending−$342MDividends−$286MCash drawn (+) / kept (−)−$223MShares issued$75.0MTaxes on employees’ shares−$32.0MOther financing−$12.0MExchange rates$1.0M

From profit to cash

Agilent Technologies: net income to operating cash flow, Q3 FY26Agilent Technologies: net income to operating cash flow, Q3 FY26Net income$362MDepreciation & amortization$66.0MStock-based pay$32.0MDeferred taxes$20.0MOther non-cash$8.0MReceivables$22.0MInventory−$25.0MPayables−$13.0MEmployee-related liabilities$34.0MDeferred revenue$67.0MOperating cash flow$519M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY267312167127
Q2 FY267311364122
Q1 FY267711363126
Q4 FY257110858121
Q3 FY257310957125
Q2 FY257211059123
Q1 FY257311664124
Q4 FY246911461122

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$519M−$80.0M−$950M−$78.0M−$72.0M$597M$31.0M$49.0M$439M
Q2 FY26$277M−$76.0M—−$65.0M−$72.0M−$1.0M$1.0M−$49.0M$201M
Q1 FY26$268M−$93.0M—−$152M−$72.0M−$2.0M$31.0M$31.0M$175M
Q4 FY25$545M−$93.0M—−$85.0M−$70.0M−$56.0M$12.0M−$254M$452M
Q3 FY25$362M−$103M—−$85.0M−$71.0M−$88.0M$29.0M−$48.0M$259M
Q2 FY25$221M−$114M—−$165M−$70.0M$130M$1.0M−$19.0M$107M
Q1 FY25$431M−$97.0M$4.0M−$90.0M−$71.0M−$27.0M$30.0M−$138M$334M
Q4 FY24$481M−$93.0M−$859M−$335M−$68.0M$442M$1.0M$450M$388M

Agilent Technologies: income statement and cash flow

Agilent Technologies, Q3 FY26: revenue $1.9B (+8% year over year), operating margin 23.6%. The chart follows the revenue to costs, profit and cash.

Agilent Technologies: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.