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Abercrombie & Fitch cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$201M in Q2 FY27 · $566M over twelve months

Operating cash flow$269M
Capital spending−$68.0M
Free cash flow+$201M
Cash / net income1.5×
Cash conversion cycle76 days

Analysis

In Q2 FY27, Abercrombie & Fitch generated $269M of operating cash flow and spent $68.0M on capital projects, leaving free cash flow of $201M.

Over the twelve months to Aug 1, 2026, operating cash flow was $820M; the largest uses were buybacks ($486M), capital spending ($253M), taxes on employees’ shares ($40.4M); besides operations, cash came from other investing ($20.0M); the cash balance rose by $54.7M.

Operating cash flow was $269M against net income of $186M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: payables +$121M, inventory −$59.4M, depreciation & amortization +$43.3M.

Its cash conversion cycle was 76 days (receivables 12 + inventory 140 − payables 76).

Free cash flow

Abercrombie & Fitch: free cash flow by quarterAbercrombie & Fitch: free cash flow by quarter$92.2MQ3 FY25$257MQ4 FY25−$54.8MQ1 FY26$50.7MQ2 FY26$132MQ3 FY26$251MQ4 FY26−$17.1MQ1 FY27$201MQ2 FY27
Operating cash flow less capital spending.
Abercrombie & Fitch: operating cash flow against capital spendingAbercrombie & Fitch: operating cash flow against capital spendingOperating cash flowCapital spending$143M$50.4MQ3 FY25$308M$50.9MQ4 FY25−$4.0M$50.8MQ1 FY26$117M$66.2MQ2 FY26$200M$68.3MQ3 FY26$306M$55.6MQ4 FY26$44.3M$61.3MQ1 FY27$269M$68.0MQ2 FY27
Latest (Q2 FY27): Operating cash flow $269M, Capital spending $68.0M.

Capital allocation, year by year

Abercrombie & Fitch: where the cash came from (up) and went (down), by fiscal yearAbercrombie & Fitch: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY22: Operating cash flow $278MFY22: Capital spending −$97.0MFY22: Buybacks −$377M$278MFY22FY23: Operating cash flow −$2.3MFY23: Net borrowing −$7.9MFY23: Asset sales $11.9MFY23: Capital spending −$165MFY23: Buybacks −$126M$11.9MFY23FY24: Operating cash flow $653MFY24: Net borrowing −$78.0MFY24: Asset sales $615KFY24: Capital spending −$158M$654MFY24FY25: Operating cash flow $710MFY25: Net borrowing −$223MFY25: Capital spending −$183MFY25: Buybacks −$230M$710MFY25FY26: Operating cash flow $619MFY26: Capital spending −$241MFY26: Buybacks −$451M$619MFY26
Over these 5 years operating cash flow totalled $2.3B; the largest uses were buybacks ($1.2B) and capital spending ($843M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$638M
Debtnone
Net cash$638M

Abercrombie & Fitch funds itself: free cash flow was $566M over the last twelve months, with $638M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Abercrombie & Fitch: sources (+) and uses (−) of cash, Q2 FY27Abercrombie & Fitch: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$269MBuybacks−$181MCapital spending−$68.0MCash drawn (+) / kept (−)−$33.6MOther investing$15.0MOther financing−$620KExchange rates−$372KTaxes on employees’ shares−$140K
Abercrombie & Fitch: sources (+) and uses (−) of cash, TTM to Q2 FY27Abercrombie & Fitch: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$820MBuybacks−$486MCapital spending−$253MCash drawn (+) / kept (−)−$54.7MTaxes on employees’ shares−$40.4MOther investing$20.0MOther financing−$7.6MExchange rates$2.7M

From profit to cash

Abercrombie & Fitch: net income to operating cash flow, Q2 FY27Abercrombie & Fitch: net income to operating cash flow, Q2 FY27Net income$186MDepreciation & amortization$43.3MStock-based pay$8.5MDeferred taxes$7.7MImpairments$1.5MGains on disposals$519KInventory−$59.4MPayables$121MPrepaid and other assets−$10.9MOther liabilities$725KIncome taxes payable$7.2MOperating cash flow$269M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY27121407676
Q1 FY27121257067
Q3 FY26111247857
Q2 FY26111146758
Q1 FY2691227259
Q3 FY2591339447

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q2 FY27$269M−$68.0M−$181M−$33.6M$201M
Q1 FY27$44.3M−$61.3M−$105M$166M−$17.1M
Q4 FY26$306M−$55.6M−$100M−$154M$251M
Q3 FY26$200M−$68.3M−$100M−$32.2M$132M
Q2 FY26$117M−$66.2M−$51.2M−$61.8M$50.7M
Q1 FY26−$4.0M−$50.8M−$200M$262M−$54.8M
Q4 FY25$308M−$50.9M−$100M−$89.4M$257M
Q3 FY25$143M−$50.4M−$99.8M$55.3M$92.2M

Abercrombie & Fitch: income statement and cash flow

Abercrombie & Fitch, Q2 FY27: revenue $1.3B (+5% year over year), operating margin 19.9%. The chart follows the revenue to costs, profit and cash.

Abercrombie & Fitch: 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.