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Arko cash flow, quarter by quarter

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

Free cash flow−$11.5M in Q3 2026 · $744K over twelve months

Operating cash flow$29.9M
Capital spending−$41.4M
Free cash flow−$11.5M
Cash / net income2.1×

Analysis

In Q3 2026, Arko generated $29.9M of operating cash flow and spent $41.4M on capital projects, leaving free cash flow of −$11.5M. That is $36.0M less than in Q3 2025 ($24.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $135M; the largest uses were capital spending ($135M), other financing ($134M), dividends ($13.4M); besides operations, cash came from net borrowing (+) / repaid (−) ($13.0M), asset & business sales ($9.4M); the cash balance fell by $129M.

Operating cash flow was $29.9M against net income of $14.3M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: receivables −$37.5M, depreciation & amortization +$32.8M, payables +$15.0M.

Free cash flow

Arko: free cash flow by quarterArko: free cash flow by quarter−$13.4MQ4 2024$16.0MQ1 2025$9.8MQ2 2025$24.5MQ3 2025$14.9MQ4 2025−$11.6MQ1 2026$8.9MQ2 2026−$11.5MQ3 2026
Operating cash flow less capital spending.
Arko: operating cash flow against capital spendingArko: operating cash flow against capital spendingOperating cash flowCapital spending$22.7M$36.1MQ4 2024$43.4M$27.4MQ1 2025$55.2M$45.3MQ2 2025$49.4M$24.9MQ3 2025$44.6M$29.6MQ4 2025$18.7M$30.3MQ1 2026$42.2M$33.3MQ2 2026$29.9M$41.4MQ3 2026
Latest (Q3 2026): Operating cash flow $29.9M, Capital spending $41.4M.

Capital allocation, year by year

Arko: where the cash came from (up) and went (down), by fiscal yearArko: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $159MFY2021: Net borrowing $476MFY2021: Asset sales $285MFY2021: Capital spending −$226MFY2021: Acquisitions −$203M$920MFY2021FY2022: Operating cash flow $209MFY2022: Net borrowing $64.4MFY2022: Asset sales $288MFY2022: Capital spending −$98.6MFY2022: Acquisitions −$420MFY2022: Buybacks −$40.0MFY2022: Dividends −$10.9M$562MFY2022FY2023: Operating cash flow $136MFY2023: Net borrowing $94.1MFY2023: Asset sales $310MFY2023: Capital spending −$111MFY2023: Acquisitions −$495MFY2023: Buybacks −$33.7MFY2023: Dividends −$14.3M$540MFY2023FY2024: Operating cash flow $222MFY2024: Net borrowing $42.6MFY2024: Asset sales $53.5MFY2024: Capital spending −$114MFY2024: Buybacks −$32.0MFY2024: Dividends −$14.0M$318MFY2024FY2025: Operating cash flow $193MFY2025: Asset sales $7.2MFY2025: Capital spending −$127MFY2025: Buybacks −$28.0MFY2025: Dividends −$13.6M$200MFY2025
Over these 5 years operating cash flow totalled $919M; the largest uses were acquisitions ($1.1B) and capital spending ($677M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$192M
Debt$625M
Net debt$433M
Due within a year$16.2M

Arko funds itself: free cash flow was $744K over the last twelve months, and $192M of cash and investments stands against $625M of debt ($16.2M due within a year, 11.9× covered by cash).

Where the cash came from and went

Arko: sources (+) and uses (−) of cash, Q3 2026Arko: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$63.8MOther financing−$58.2MCapital spending−$41.4MOperating cash flow$29.9MNet borrowing (+) / repaid (−)$8.4MPartners−$6.3MOther investing$4.0MDividends−$3.4MAsset & business sales$3.4MExchange rates−$95KBuybacks−$51K
Arko: sources (+) and uses (−) of cash, TTM to Q3 2026Arko: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$135MCapital spending−$135MOther financing−$134MCash drawn (+) / kept (−)$129MDividends−$13.4MNet borrowing (+) / repaid (−)$13.0MBuybacks−$11.7MAsset & business sales$9.4MOther investing$7.4MExchange rates−$146K

From profit to cash

Arko: net income to operating cash flow, Q3 2026Arko: net income to operating cash flow, Q3 2026Net income$14.3MDepreciation & amortization$32.8MStock-based pay$4.9MDeferred taxes$5.8MReceivables−$37.5MInventory−$14.2MPayables$15.0MPrepaid and other assets$3.5MOther liabilities$7.8MOperating cash flow$29.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$29.9M−$41.4M−$51K−$3.4M$8.4M—$63.8M−$11.5M
Q2 2026$42.2M−$33.3M−$212K−$3.4M$6.4M—$28.6M$8.9M
Q1 2026$18.7M−$30.3M−$4.3M−$3.4M−$7.7M$210M$34.6M−$11.6M
Q4 2025$44.6M−$29.6M−$7.2M−$3.3M$147K—$2.0M$14.9M
Q3 2025$49.4M−$24.9M−$4.2M−$3.4M−$7.9M—−$9.2M$24.5M
Q2 2025$55.2M−$45.3M−$9.2M−$3.4M$35.9M—−$26.9M$9.8M
Q1 2025$43.4M−$27.4M−$7.4M−$3.5M−$1.4M—$2.9M$16.0M
Q4 2024$22.7M−$36.1M—−$3.5M−$1.4M—$26.6M−$13.4M

Arko: income statement and cash flow

Arko, Q3 2026: revenue $2.4B (+18% year over year), operating margin 1.5%. The chart follows the revenue to costs, profit and cash.

Arko: 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.