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Alpha Metallurgical Resources cash flow, quarter by quarter

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

Free cash flow$13.1M in Q3 2026 · −$13.8M over twelve months

Operating cash flow$46.9M
Capital spending−$33.8M
Free cash flow+$13.1M
Cash conversion cycle69 days

Analysis

In Q3 2026, Alpha Metallurgical Resources generated $46.9M of operating cash flow and spent $33.8M on capital projects, leaving free cash flow of $13.1M. That is $12.3M less than in Q3 2025 ($25.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $135M; the largest uses were capital spending ($149M), other financing ($62.3M), net borrowing (+) / repaid (−) ($1.7M); besides operations, cash came from other investing ($6.8M); the cash balance fell by $71.0M.

Operating cash flow was $46.9M against net income of −$9.3M. The largest differences: depreciation & amortization +$35.5M, deferred taxes −$5.7M, stock-based pay +$4.4M.

Its cash conversion cycle was 69 days (receivables 39 + inventory 47 − payables 16).

Free cash flow

Alpha Metallurgical Resources: free cash flow by quarterAlpha Metallurgical Resources: free cash flow by quarter$13.6MQ4 2024−$16.3MQ1 2025$18.6MQ2 2025$25.4MQ3 2025−$10.0MQ4 2025−$11.6MQ1 2026−$5.3MQ2 2026$13.1MQ3 2026
Operating cash flow less capital spending.
Alpha Metallurgical Resources: operating cash flow against capital spendingAlpha Metallurgical Resources: operating cash flow against capital spendingOperating cash flowCapital spending$56.3M$42.7MQ4 2024$22.2M$38.5MQ1 2025$53.2M$34.6MQ2 2025$50.5M$25.1MQ3 2025$19.0M$29.0MQ4 2025$29.0M$40.7MQ1 2026$39.9M$45.1MQ2 2026$46.9M$33.8MQ3 2026
Latest (Q3 2026): Operating cash flow $46.9M, Capital spending $33.8M.

Capital allocation, year by year

Alpha Metallurgical Resources: where the cash came from (up) and went (down), by fiscal yearAlpha Metallurgical Resources: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $175MFY2021: Net borrowing −$121MFY2021: Asset sales $8.2MFY2021: Capital spending −$83.3MFY2021: Buybacks −$786K$183MFY2021FY2022: Operating cash flow $1.5BFY2022: Net borrowing −$451MFY2022: Asset sales $3.6MFY2022: Capital spending −$164MFY2022: Acquisitions −$24.9MFY2022: Buybacks −$522MFY2022: Dividends −$13.4M$1.5BFY2022FY2023: Operating cash flow $851MFY2023: Net borrowing −$3.8MFY2023: Asset sales $8.2MFY2023: Capital spending −$245MFY2023: Acquisitions −$11.9MFY2023: Dividends −$26.8M$859MFY2023FY2024: Operating cash flow $580MFY2024: Net borrowing −$3.5MFY2024: Asset sales $1.0MFY2024: Capital spending −$199MFY2024: Dividends −$3.1M$581MFY2024FY2025: Operating cash flow $145MFY2025: Net borrowing −$4.5MFY2025: Asset sales $265KFY2025: Capital spending −$127MFY2025: Dividends −$415K$145MFY2025
Over these 5 years operating cash flow totalled $3.2B; the largest uses were capital spending ($819M) and net borrowing ($584M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$334M
Debt$2.7M
Net cash$331M
Due within a year$3.1M

Alpha Metallurgical Resources's operations bring cash in ($135M over twelve months), and it spends more than that on capital projects: a gap of $13.8M funded from its $334M of cash and investments and from borrowing ($2.7M of debt, $3.1M due within a year). That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Alpha Metallurgical Resources: sources (+) and uses (−) of cash, Q3 2026Alpha Metallurgical Resources: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$46.9MCapital spending−$33.8MCash drawn (+) / kept (−)−$27.5MOther investing$17.9MBuybacks−$3.0MNet borrowing (+) / repaid (−)−$480K
Alpha Metallurgical Resources: sources (+) and uses (−) of cash, TTM to Q3 2026Alpha Metallurgical Resources: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$149MOperating cash flow$135MCash drawn (+) / kept (−)$71.0MOther financing−$62.3MOther investing$6.8MNet borrowing (+) / repaid (−)−$1.7M

From profit to cash

Alpha Metallurgical Resources: net income to operating cash flow, Q3 2026Alpha Metallurgical Resources: net income to operating cash flow, Q3 2026Net income−$9.3MDepreciation & amortization$35.5MStock-based pay$4.4MDeferred taxes−$5.7MGains on disposals−$16KOperating cash flow$46.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202639471669
Q2 202649491880
Q1 202650391573
Q4 202550391475
Q3 202551421776
Q2 202553381972
Q1 202560321873
Q4 202455311869

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$46.9M−$33.8M−$3.0M—−$480K−$27.5M$13.1M
Q2 2026$39.9M−$45.1M−$13.5M—−$705K$8.6M−$5.3M
Q1 2026$29.0M−$40.7M——−$915K$48.4M−$11.6M
Q4 2025$19.0M−$29.0M——$422K$41.4M−$10.0M
Q3 2025$50.5M−$25.1M——−$826K$40.8M$25.4M
Q2 2025$53.2M−$34.6M——−$739K−$3.0M$18.6M
Q1 2025$22.2M−$38.5M—−$415K−$822K$32.0M−$16.3M
Q4 2024$56.3M−$42.7M——−$495K$1.5M$13.6M

Alpha Metallurgical Resources: income statement and cash flow

Alpha Metallurgical Resources, Q3 2026: revenue $562M (+7% year over year), operating margin -1.4%. The chart follows the revenue to costs, profit and cash.

Alpha Metallurgical Resources: 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.