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Alto Ingredients cash flow, quarter by quarter

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

Free cash flow$8.5M in Q3 2026 · $37.3M over twelve months

Operating cash flow$12.9M
Capital spending−$4.4M
Free cash flow+$8.5M
Cash / net income1.0×
Cash conversion cycle35 days

Analysis

In Q3 2026, Alto Ingredients generated $12.9M of operating cash flow and spent $4.4M on capital projects, leaving free cash flow of $8.5M. That is $12.7M less than in Q3 2025 ($21.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $55.1M; the largest uses were other financing ($33.6M), net borrowing (+) / repaid (−) ($17.8M), capital spending ($17.8M); besides operations, cash came from other investing ($6.7M); the cash balance fell by $7.5M.

Operating cash flow was $12.9M against net income of $13.0M — 1.0× profit, roughly in line with earnings. The largest differences: depreciation & amortization +$6.7M, receivables +$3.6M, inventory −$3.0M.

Its cash conversion cycle was 35 days (receivables 24 + inventory 20 − payables 8).

Free cash flow

Alto Ingredients: free cash flow by quarterAlto Ingredients: free cash flow by quarter−$11.1MQ4 2024−$83.2MQ1 2025−$1.3MQ2 2025$21.2MQ3 2025$7.6MQ4 2025$3.3MQ1 2026$17.9MQ2 2026$8.5MQ3 2026
Operating cash flow less capital spending.
Alto Ingredients: operating cash flow against capital spendingAlto Ingredients: operating cash flow against capital spendingOperating cash flowCapital spending−$9.8M$1.3MQ4 2024−$18.2M$65.0MQ1 2025−$848K$484KQ2 2025$22.8M$1.6MQ3 2025$9.5M$1.9MQ4 2025$4.2M$909KQ1 2026$28.5M$10.6MQ2 2026$12.9M$4.4MQ3 2026
Latest (Q3 2026): Operating cash flow $12.9M, Capital spending $4.4M.

Capital allocation, year by year

Alto Ingredients: where the cash came from (up) and went (down), by fiscal yearAlto Ingredients: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $26.8MFY2021: Net borrowing −$37.6MFY2021: Shares issued $924KFY2021: Asset sales $24.0MFY2021: Capital spending −$16.4M$51.7MFY2021FY2022: Operating cash flow $6.0MFY2022: Net borrowing −$32.3MFY2022: Capital spending −$37.7MFY2022: Acquisitions −$14.7MFY2022: Buybacks −$1.3M$6.0MFY2022FY2023: Operating cash flow $22.0MFY2023: Net borrowing $12.6MFY2023: Capital spending −$29.5MFY2023: Buybacks −$3.7M$34.6MFY2023FY2024: Operating cash flow −$3.5MFY2024: Net borrowing $9.0MFY2024: Asset sales $400KFY2024: Capital spending −$11.1M$9.4MFY2024FY2025: Operating cash flow $13.2MFY2025: Net borrowing −$15.1MFY2025: Capital spending −$4.6MFY2025: Acquisitions −$7.3M$13.2MFY2025
Over these 5 years operating cash flow totalled $64.6M; the largest uses were capital spending ($99.3M) and net borrowing ($85.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$23.6M
Debt$58.1M
Net debt$34.5M
Due within a year$16.6M

Alto Ingredients funds itself: free cash flow was $37.3M over the last twelve months, and $23.6M of cash and investments stands against $58.1M of debt ($16.6M due within a year, 1.4× covered by cash).

Alto Ingredients: debt maturities by year (FY2025)Alto Ingredients: debt maturities by year (FY2025)$16.6MYear 1$29.6MYear 2$38.4MYear 3
Principal due in each year as disclosed in the annual report, against $23.6M of cash and investments now.

Where the cash came from and went

Alto Ingredients: sources (+) and uses (−) of cash, Q3 2026Alto Ingredients: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$12.9MOther financing−$6.8MCapital spending−$4.4MCash drawn (+) / kept (−)−$1.7M
Alto Ingredients: sources (+) and uses (−) of cash, TTM to Q3 2026Alto Ingredients: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$55.1MOther financing−$33.6MNet borrowing (+) / repaid (−)−$17.8MCapital spending−$17.8MCash drawn (+) / kept (−)$7.5MOther investing$6.7M

From profit to cash

Alto Ingredients: net income to operating cash flow, Q3 2026Alto Ingredients: net income to operating cash flow, Q3 2026Net income$13.0MDepreciation & amortization$6.7MStock-based pay$908KReceivables$3.6MInventory−$3.0MPayables−$187KPrepaid and other assets$1.9MOperating cash flow$12.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20262420835
Q2 20262421936
Q1 20262324740
Q4 20252224640
Q3 20252123738
Q2 20252622740
Q1 20252520737
Q4 20242119733

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$12.9M−$4.4M——−$1.7M$8.5M
Q2 2026$28.5M−$10.6M—−$13.0M−$2.3M$17.9M
Q1 2026$4.2M−$909K—−$7.0M$4.0M$3.3M
Q4 2025$9.5M−$1.9M—−$16.4M$7.5M$7.6M
Q3 2025$22.8M−$1.6M——−$2.6M$21.2M
Q2 2025−$848K−$484K—$7.2M−$3.3M−$1.3M
Q1 2025−$18.2M−$65.0M−$7.3M$17.3M$9.0M−$83.2M
Q4 2024−$9.8M−$1.3M—$9.1M$2.3M−$11.1M

Alto Ingredients: income statement and cash flow

Alto Ingredients, Q3 2026: revenue $258M (+7% year over year), operating margin 2.7%. The chart follows the revenue to costs, profit and cash.

Alto Ingredients: 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.