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Avalon Holdings cash flow, quarter by quarter

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

Free cash flow$1.5M in Q3 2026 · $1.9M over twelve months

Operating cash flow$2.4M
Capital spending−$927K
Free cash flow+$1.5M
Cash / net income0.9×
Cash conversion cycle14 days

Analysis

In Q3 2026, Avalon Holdings generated $2.4M of operating cash flow and spent $927K on capital projects, leaving free cash flow of $1.5M. That is $634K more than in Q3 2025 ($852K).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.4M; the largest uses were capital spending ($2.5M), net borrowing (+) / repaid (−) ($1.0M); the cash balance rose by $860K.

Operating cash flow was $2.4M against net income of $2.6M — 0.9× profit, roughly in line with earnings. The largest differences: deferred revenue −$1.2M, depreciation & amortization +$921K, contract assets +$212K.

Its cash conversion cycle was 14 days (receivables 39 + inventory 9 − payables 34).

Free cash flow

Avalon Holdings: free cash flow by quarterAvalon Holdings: free cash flow by quarter−$1.1MQ4 2024−$1.4MQ1 2025$2.7MQ2 2025$852KQ3 2025−$166KQ4 2025−$1.8MQ1 2026$2.4MQ2 2026$1.5MQ3 2026
Operating cash flow less capital spending.
Avalon Holdings: operating cash flow against capital spendingAvalon Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$579K$548KQ4 2024−$982K$390KQ1 2025$3.0M$292KQ2 2025$1.5M$602KQ3 2025$277K$443KQ4 2025−$1.3M$525KQ1 2026$3.0M$640KQ2 2026$2.4M$927KQ3 2026
Latest (Q3 2026): Operating cash flow $2.4M, Capital spending $927K.

Capital allocation, year by year

Avalon Holdings: where the cash came from (up) and went (down), by fiscal yearAvalon Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingFY2021: Operating cash flow $2.4MFY2021: Net borrowing −$1.4MFY2021: Asset sales $3KFY2021: Capital spending −$4.4M$2.4MFY2021FY2022: Operating cash flow $2.3MFY2022: Net borrowing $11.4MFY2022: Capital spending −$6.4M$13.6MFY2022FY2023: Operating cash flow $2.4MFY2023: Net borrowing $944KFY2023: Capital spending −$3.9M$3.3MFY2023FY2024: Operating cash flow $3.4MFY2024: Net borrowing −$818KFY2024: Asset sales $7KFY2024: Capital spending −$2.3M$3.4MFY2024FY2025: Operating cash flow $3.8MFY2025: Net borrowing −$973KFY2025: Capital spending −$1.7M$3.8MFY2025
Over these 5 years operating cash flow totalled $14.1M; the largest uses were capital spending ($18.7M) and net borrowing ($3.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.3M
Debt$28.2M
Net debt$21.9M
Due within a year$674K

Avalon Holdings funds itself: free cash flow was $1.9M over the last twelve months, and $6.3M of cash and investments stands against $28.2M of debt ($674K due within a year, 9.4× covered by cash).

Avalon Holdings: debt maturities by year (FY2025)Avalon Holdings: debt maturities by year (FY2025)$674KYear 1$3.9MYear 2$759KYear 3$806KYear 4$856KYear 5$25.2MAfter year 5
Principal due in each year as disclosed in the annual report, against $6.3M of cash and investments now.

Where the cash came from and went

Avalon Holdings: sources (+) and uses (−) of cash, Q3 2026Avalon Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$2.4MCash drawn (+) / kept (−)−$1.1MCapital spending−$927KNet borrowing (+) / repaid (−)−$337K
Avalon Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Avalon Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$4.4MCapital spending−$2.5MNet borrowing (+) / repaid (−)−$1.0MCash drawn (+) / kept (−)−$860K

From profit to cash

Avalon Holdings: net income to operating cash flow, Q3 2026Avalon Holdings: net income to operating cash flow, Q3 2026Net income$2.6MDepreciation & amortization$921KReceivables−$117KInventory$128KPayables−$130KAccrued liabilities−$141KEmployee-related liabilities$90KDeferred revenue−$1.2MContract assets$212KPrepaid and other assets−$1KIncome taxes payable−$127KOperating cash flow$2.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20263993414
Q2 202648104117
Q1 202655104817
Q4 20254884511
Q3 2025408408
Q2 202548104513
Q1 202556115116
Q4 202448104712

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$2.4M−$927K−$337K−$1.1M$1.5M
Q2 2026$3.0M−$640K−$289K−$2.1M$2.4M
Q1 2026−$1.3M−$525K−$182K$2.0M−$1.8M
Q4 2025$277K−$443K−$240K$406K−$166K
Q3 2025$1.5M−$602K−$287K−$565K$852K
Q2 2025$3.0M−$292K−$263K−$2.5M$2.7M
Q1 2025−$982K−$390K−$183K$1.6M−$1.4M
Q4 2024−$579K−$548K−$199K$1.3M−$1.1M

Avalon Holdings: income statement and cash flow

Avalon Holdings, Q3 2026: revenue $24.3M (-6% year over year), operating margin 13.0%. The chart follows the revenue to costs, profit and cash.

Avalon Holdings: 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.