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ProFrac Holding cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$11.4M in Q3 2026 · −$15.9M over twelve months

Operating cash flow$51.1M
Capital spending−$39.7M
Free cash flow+$11.4M
Cash conversion cycle23 days

Analysis

In Q3 2026, ProFrac Holding generated $51.1M of operating cash flow and spent $39.7M on capital projects, leaving free cash flow of $11.4M. That is $44.8M more than in Q3 2025 (−$33.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $133M; the largest uses were capital spending ($149M), other financing ($19.3M); besides operations, cash came from net borrowing (+) / repaid (−) ($14.2M), asset & business sales ($10.1M); the cash balance fell by $10.9M.

Operating cash flow was $51.1M against net income of −$74.0M. The largest differences: depreciation & amortization +$96.7M, payables +$41.9M, inventory −$20.2M.

Its cash conversion cycle was 23 days (receivables 61 + inventory 42 − payables 80).

Free cash flow

ProFrac Holding: free cash flow by quarterProFrac Holding: free cash flow by quarter$13.3MQ4 2024−$13.8MQ1 2025$53.9MQ2 2025−$33.4MQ3 2025$12.9MQ4 2025−$31.4MQ1 2026−$8.8MQ2 2026$11.4MQ3 2026
Operating cash flow less capital spending.
ProFrac Holding: operating cash flow against capital spendingProFrac Holding: operating cash flow against capital spendingOperating cash flowCapital spending$76.5M$63.2MQ4 2024$38.7M$52.5MQ1 2025$96.7M$42.8MQ2 2025$4.6M$38.0MQ3 2025$49.5M$36.6MQ4 2025$9.3M$40.7MQ1 2026$22.9M$31.7MQ2 2026$51.1M$39.7MQ3 2026
Latest (Q3 2026): Operating cash flow $51.1M, Capital spending $39.7M.

Capital allocation, year by year

ProFrac Holding: where the cash came from (up) and went (down), by fiscal yearProFrac Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow $43.9MFY2021: Net borrowing $41.4MFY2021: Asset sales $17.5MFY2021: Capital spending −$87.4MFY2021: Acquisitions −$4.3M$103MFY2021FY2022: Operating cash flow $415MFY2022: Net borrowing $452MFY2022: Shares issued $329MFY2022: Asset sales $48.3MFY2022: Capital spending −$356MFY2022: Acquisitions −$641M$1.2BFY2022FY2023: Operating cash flow $554MFY2023: Net borrowing $158MFY2023: Asset sales $6.2MFY2023: Capital spending −$267MFY2023: Acquisitions −$454M$717MFY2023FY2024: Operating cash flow $367MFY2024: Net borrowing −$8.8MFY2024: Asset sales $72.9MFY2024: Capital spending −$255MFY2024: Acquisitions −$194M$440MFY2024FY2025: Operating cash flow $190MFY2025: Net borrowing −$101MFY2025: Shares issued $83.0MFY2025: Asset sales $5.8MFY2025: Capital spending −$170M$278MFY2025
Over these 5 years operating cash flow totalled $1.6B; the largest uses were acquisitions ($1.3B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$43.6M
Debt$905M
Net debt$861M
Due within a year$150M

ProFrac Holding's operations bring cash in ($133M over twelve months), and it spends more than that on capital projects: a gap of $15.9M funded from its $43.6M of cash and investments and from borrowing ($905M of debt, $150M due within a year). That is a choice to invest, not a cash runway running down.

ProFrac Holding: debt maturities by year (FY2025)ProFrac Holding: debt maturities by year (FY2025)$150MYear 1$215MYear 2$140MYear 3$491MYear 4$40.9MYear 5$11.8MAfter year 5
Principal due in each year as disclosed in the annual report, against $43.6M of cash and investments now.

Where the cash came from and went

ProFrac Holding: sources (+) and uses (−) of cash, Q3 2026ProFrac Holding: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$51.1MCapital spending−$39.7MOther financing−$13.6MNet borrowing (+) / repaid (−)$6.3MCash drawn (+) / kept (−)−$6.2MAsset & business sales$2.1M
ProFrac Holding: sources (+) and uses (−) of cash, TTM to Q3 2026ProFrac Holding: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$149MOperating cash flow$133MOther financing−$19.3MNet borrowing (+) / repaid (−)$14.2MCash drawn (+) / kept (−)$10.9MAsset & business sales$10.1M

From profit to cash

ProFrac Holding: net income to operating cash flow, Q3 2026ProFrac Holding: net income to operating cash flow, Q3 2026Net income−$74.0MDepreciation & amortization$96.7MStock-based pay$2.0MDeferred taxes$2.0MGains on disposals$400KOther non-cash$300KReceivables−$14.9MInventory−$20.2MPayables$41.9MAccrued liabilities$14.4MPrepaid and other assets−$6.0MOther liabilities$2.2MOperating cash flow$51.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202661428023
Q2 202660397326
Q1 202659397028
Q4 202556437327
Q3 202569498731
Q2 202567468330
Q1 202554437324
Q4 202468609335

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$51.1M−$39.7M$6.3M—−$6.2M$11.4M
Q2 2026$22.9M−$31.7M$17.1M—−$7.4M−$8.8M
Q1 2026$9.3M−$40.7M$37.5M—−$10.6M−$31.4M
Q4 2025$49.5M−$36.6M−$46.7M$600K$35.1M$12.9M
Q3 2025$4.6M−$38.0M−$17.5M—−$32.0M−$33.4M
Q2 2025$96.7M−$42.8M−$43.5M—−$10.0M$53.9M
Q1 2025$38.7M−$52.5M$15.5M—−$1.2M−$13.8M
Q4 2024$76.5M−$63.2M−$66.6M—$10.7M$13.3M

ProFrac Holding: income statement and cash flow

ProFrac Holding, Q3 2026: revenue $511M (+27% year over year), operating margin -6.7%. The chart follows the revenue to costs, profit and cash.

ProFrac Holding: 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.