Filing Flows

Filing Flows › Companies › Advanced Energy Industries › Cash flow

Advanced Energy Industries cash flow, quarter by quarter

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

Free cash flow$34.0M in Q3 2026 · $69.9M over twelve months

Operating cash flow$65.1M
Capital spending−$31.1M
Free cash flow+$34.0M
Cash / net income0.6×
Cash conversion cycle115 days

Analysis

In Q3 2026, Advanced Energy Industries generated $65.1M of operating cash flow and spent $31.1M on capital projects, leaving free cash flow of $34.0M. That is $16.8M less than in Q3 2025 ($50.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $225M; the largest uses were capital spending ($155M), dividends ($16.0M), buybacks ($7.0M); besides operations, cash came from other financing ($624M); the cash balance rose by $668M.

Operating cash flow was $65.1M against net income of $116M — 0.6× profit, less cash than reported earnings, worth checking against working capital. The largest differences: inventory −$106M, receivables −$69.2M, payables +$43.9M.

Its cash conversion cycle was 115 days (receivables 58 + inventory 134 − payables 77).

Free cash flow

Advanced Energy Industries: free cash flow by quarterAdvanced Energy Industries: free cash flow by quarter$69.8MQ4 2024$15.0MQ1 2025$17.1MQ2 2025$50.8MQ3 2025$43.0MQ4 2025−$42.6MQ1 2026$35.5MQ2 2026$34.0MQ3 2026
Operating cash flow less capital spending.
Advanced Energy Industries: operating cash flow against capital spendingAdvanced Energy Industries: operating cash flow against capital spendingOperating cash flowCapital spending$82.6M$12.8MQ4 2024$28.9M$13.9MQ1 2025$45.2M$28.1MQ2 2025$78.7M$27.9MQ3 2025$80.5M$37.5MQ4 2025−$6.0M$36.6MQ1 2026$85.0M$49.5MQ2 2026$65.1M$31.1MQ3 2026
Latest (Q3 2026): Operating cash flow $65.1M, Capital spending $31.1M.

Capital allocation, year by year

Advanced Energy Industries: where the cash came from (up) and went (down), by fiscal yearAdvanced Energy Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $140MFY2021: Net borrowing $156MFY2021: Capital spending −$28.8MFY2021: Acquisitions −$21.5MFY2021: Buybacks −$78.1MFY2021: Dividends −$15.4M$296MFY2021FY2022: Operating cash flow $184MFY2022: Net borrowing −$20.0MFY2022: Capital spending −$58.9MFY2022: Acquisitions −$149MFY2022: Buybacks −$26.6MFY2022: Dividends −$15.2M$184MFY2022FY2023: Operating cash flow $209MFY2023: Net borrowing $555MFY2023: Capital spending −$61.0MFY2023: Buybacks −$40.0MFY2023: Dividends −$15.2M$764MFY2023FY2024: Operating cash flow $131MFY2024: Net borrowing −$355MFY2024: Capital spending −$56.8MFY2024: Acquisitions −$13.8MFY2024: Buybacks −$1.8MFY2024: Dividends −$15.4M$131MFY2024FY2025: Operating cash flow $233MFY2025: Net borrowing −$1.9MFY2025: Capital spending −$107MFY2025: Buybacks −$30.2MFY2025: Dividends −$15.6M$233MFY2025
Over these 5 years operating cash flow totalled $897M; the largest uses were net borrowing ($377M) and capital spending ($313M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.4B
Debt$1.3B
Net cash$159M
Due within a year$136M

Advanced Energy Industries funds itself: free cash flow was $69.9M over the last twelve months, and $1.4B of cash and investments stands against $1.3B of debt ($136M due within a year, 10.4× covered by cash).

Where the cash came from and went

Advanced Energy Industries: sources (+) and uses (−) of cash, Q3 2026Advanced Energy Industries: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$65.1MCapital spending−$31.1MCash drawn (+) / kept (−)−$28.1MDividends−$4.1MTaxes on employees’ shares−$1.5MExchange rates$700KOther financing−$600KNet borrowing (+) / repaid (−)−$400K
Advanced Energy Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Advanced Energy Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)−$668MOther financing$624MOperating cash flow$225MCapital spending−$155MDividends−$16.0MBuybacks−$7.0MOther investing−$1.8MExchange rates−$1.2M

From profit to cash

Advanced Energy Industries: net income to operating cash flow, Q3 2026Advanced Energy Industries: net income to operating cash flow, Q3 2026Net income$116MDepreciation & amortization$17.2MStock-based pay$18.6MDeferred taxes$11.9MOther non-cash$200KReceivables−$69.2MInventory−$106MPayables$43.9MPrepaid and other assets$3.4MOperating cash flow$65.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265813477115
Q2 20266213479117
Q1 20266212672116
Q4 20255912464119
Q3 20256012762125
Q2 20256012557128
Q1 20256012953136
Q4 20245813049140

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$65.1M−$31.1M—−$4.1M−$400K−$28.1M$34.0M
Q2 2026$85.0M−$49.5M—−$4.1M—−$697M$35.5M
Q1 2026−$6.0M−$36.6M−$500K−$3.8M—$89.8M−$42.6M
Q4 2025$80.5M−$37.5M−$6.5M−$4.0M—−$32.6M$43.0M
Q3 2025$78.7M−$27.9M—−$3.9M—−$45.1M$50.8M
Q2 2025$45.2M−$28.1M−$23.2M−$3.9M—$9.5M$17.1M
Q1 2025$28.9M−$13.9M−$500K−$3.8M—−$900K$15.0M
Q4 2024$82.6M−$12.8M—−$3.8M—−$64.7M$69.8M

Advanced Energy Industries: income statement and cash flow

Advanced Energy Industries, Q3 2026: revenue $696M (+50% year over year), operating margin 20.6%. The chart follows the revenue to costs, profit and cash.

Advanced Energy Industries: 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.