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ADT cash flow, quarter by quarter

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

Free cash flow$395M in Q3 2026 · $1.9B over twelve months

Operating cash flow$440M
Capital spending−$45.8M
Free cash flow+$395M
Cash / net income2.9×

Analysis

In Q3 2026, ADT generated $440M of operating cash flow and spent $45.8M on capital projects, leaving free cash flow of $395M. That is $42.8M less than in Q3 2025 ($437M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.1B; the largest uses were other investing ($906M), buybacks ($623M), capital spending ($191M); the cash balance rose by $83.5M.

Operating cash flow was $440M against net income of $151M — 2.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$345M, other operating capital −$72.2M, deferred revenue −$35.0M.

Free cash flow

ADT: free cash flow by quarterADT: free cash flow by quarter$426MQ4 2024$421MQ1 2025$526MQ2 2025$437MQ3 2025$324MQ4 2025$589MQ1 2026$620MQ2 2026$395MQ3 2026
Operating cash flow less capital spending.
ADT: operating cash flow against capital spendingADT: operating cash flow against capital spendingOperating cash flowCapital spending$460M$33.7MQ4 2024$467M$45.4MQ1 2025$564M$37.6MQ2 2025$480M$42.6MQ3 2025$374M$50.1MQ4 2025$638M$48.9MQ1 2026$666M$46.2MQ2 2026$440M$45.8MQ3 2026
Latest (Q3 2026): Operating cash flow $440M, Capital spending $45.8M.

Capital allocation, year by year

ADT: where the cash came from (up) and went (down), by fiscal yearADT: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.6BFY2021: Net borrowing −$55.5MFY2021: Asset sales $1.8MFY2021: Capital spending −$168MFY2021: Acquisitions −$164MFY2021: Dividends −$116M$1.7BFY2021FY2022: Operating cash flow $1.9BFY2022: Net borrowing −$100MFY2022: Shares issued $1.2BFY2022: Asset sales $26.7MFY2022: Capital spending −$177MFY2022: Acquisitions −$13.1MFY2022: Buybacks −$1.2BFY2022: Dividends −$127M$3.1BFY2022FY2023: Operating cash flow $1.7BFY2023: Net borrowing −$2.1BFY2023: Asset sales $1.6BFY2023: Capital spending −$176MFY2023: Dividends −$129M$3.3BFY2023FY2024: Operating cash flow $1.9BFY2024: Net borrowing −$146MFY2024: Asset sales −$17.5MFY2024: Capital spending −$164MFY2024: Buybacks −$241MFY2024: Dividends −$182M$1.9BFY2024FY2025: Operating cash flow $1.9BFY2025: Net borrowing −$90.5MFY2025: Asset sales $50.6MFY2025: Capital spending −$176MFY2025: Buybacks −$607MFY2025: Dividends −$187M$1.9BFY2025
Over these 5 years operating cash flow totalled $9.0B; the largest uses were net borrowing ($2.5B) and buybacks ($2.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$228M
Debt$7.9B
Net debt$7.6B
Due within a year$288M

ADT funds itself: free cash flow was $1.9B over the last twelve months, and $228M of cash and investments stands against $7.9B of debt ($288M due within a year, 0.8× covered by cash).

ADT: debt maturities by year (FY2025)ADT: debt maturities by year (FY2025)$288MYear 1$1.2BYear 2$132MYear 3$1.1BYear 4$2.0BYear 5$3.1BAfter year 5
Principal due in each year as disclosed in the annual report, against $228M of cash and investments now.

Where the cash came from and went

ADT: sources (+) and uses (−) of cash, Q3 2026ADT: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$440MCash drawn (+) / kept (−)−$227MOther investing−$188MNet borrowing (+) / repaid (−)$80.0MCapital spending−$45.8MDividends−$40.6MBuybacks−$23.3MOther financing$3.3M
ADT: sources (+) and uses (−) of cash, TTM to Q3 2026ADT: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.1BOther investing−$906MBuybacks−$623MCapital spending−$191MDividends−$175MCash drawn (+) / kept (−)−$83.5MOther financing−$75.0MNet borrowing (+) / repaid (−)−$64.2M

From profit to cash

ADT: net income to operating cash flow, Q3 2026ADT: net income to operating cash flow, Q3 2026Net income$151MDepreciation & amortization$345MStock-based pay$18.6MDeferred taxes$6.6MDeferred revenue−$35.0MOther operating capital−$72.2MOperating cash flow$440M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$440M−$45.8M—−$23.3M−$40.6M$80.0M−$227M$395M
Q2 2026$666M−$46.2M$251K−$484M−$44.9M$5.8M$124M$620M
Q1 2026$638M−$48.9M−$164M−$116M−$45.0M−$18.2M−$43.3M$589M
Q4 2025$374M−$50.1M——−$45.0M−$132M$62.5M$324M
Q3 2025$480M−$42.6M—−$112M−$45.8M−$6.1M−$18.6M$437M
Q2 2025$564M−$37.6M—−$98.5M−$47.1M−$53.6M−$61.3M$526M
Q1 2025$467M−$45.4M—−$397M−$48.9M$119M$113M$421M
Q4 2024$460M−$33.7M—−$147M−$50.1M−$6.0M$684K$426M

ADT: income statement and cash flow

ADT, Q3 2026: revenue $1.3B (+4% year over year), operating margin 23.0%. The chart follows the revenue to costs, profit and cash.

ADT: 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.