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Belden cash flow, quarter by quarter

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

Free cash flow$81.8M in Q3 2026 · $229M over twelve months

Operating cash flow$130M
Capital spending−$47.8M
Free cash flow+$81.8M
Cash conversion cycle73 days

Analysis

In Q3 2026, Belden generated $130M of operating cash flow and spent $47.8M on capital projects, leaving free cash flow of $81.8M.

Over the twelve months to Sep 27, 2026, operating cash flow was $401M; the largest uses were acquisitions ($1.9B), net borrowing (+) / repaid (−) ($588M), capital spending ($172M); besides operations, cash came from other financing ($2.3B), shares issued ($13.6M); the cash balance rose by $66.4M.

Operating cash flow was $130M against net income of −$11.4M. The largest differences: depreciation & amortization +$78.4M, accrued liabilities +$51.1M, income taxes payable −$24.5M.

Its cash conversion cycle was 73 days (receivables 57 + inventory 71 − payables 55).

Free cash flow

Belden: free cash flow by quarterBelden: free cash flow by quarter$116MQ4 2024−$24.8MQ1 2025$56.9MQ2 2025$65.3MQ3 2025$121MQ4 2025−$63.1MQ1 2026$88.6MQ2 2026$81.8MQ3 2026
Operating cash flow less capital spending.
Belden: operating cash flow against capital spendingBelden: operating cash flow against capital spendingOperating cash flowCapital spending$175M$58.3MQ4 2024$7.4M$32.2MQ1 2025$82.0M$25.2MQ2 2025$105M$39.7MQ3 2025$160M$39.1MQ4 2025−$18.7M$44.4MQ1 2026$129M$40.7MQ2 2026$130M$47.8MQ3 2026
Latest (Q3 2026): Operating cash flow $130M, Capital spending $47.8M.

Capital allocation, year by year

Belden: where the cash came from (up) and went (down), by fiscal yearBelden: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $272MFY2021: Net borrowing −$368MFY2021: Asset sales $76.0MFY2021: Capital spending −$91.0MFY2021: Acquisitions −$73.3MFY2021: Dividends −$9.1M$348MFY2021FY2022: Operating cash flow $281MFY2022: Net borrowing −$231MFY2022: Shares issued $3.7MFY2022: Asset sales $378MFY2022: Capital spending −$105MFY2022: Acquisitions −$105MFY2022: Dividends −$8.9M$663MFY2022FY2023: Operating cash flow $320MFY2023: Net borrowing −$423KFY2023: Shares issued $6.6MFY2023: Asset sales $23.1MFY2023: Capital spending −$117MFY2023: Acquisitions −$107MFY2023: Dividends −$8.5M$349MFY2023FY2024: Operating cash flow $352MFY2024: Net borrowing −$1.1MFY2024: Shares issued $8.9MFY2024: Asset sales −$1.2MFY2024: Capital spending −$129MFY2024: Acquisitions −$296MFY2024: Dividends −$8.2M$361MFY2024FY2025: Operating cash flow $355MFY2025: Net borrowing −$1.8MFY2025: Shares issued $11.6MFY2025: Asset sales $191KFY2025: Capital spending −$136MFY2025: Acquisitions $7.7MFY2025: Dividends −$8.0M$374MFY2025
Over these 5 years operating cash flow totalled $1.6B; the largest uses were net borrowing ($602M) and acquisitions ($581M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$381M
Debt$3.1B
Net debt$2.7B
Due within a year$18.5M

Belden funds itself: free cash flow was $229M over the last twelve months, and $381M of cash and investments stands against $3.1B of debt ($18.5M due within a year, 20.6× covered by cash).

Belden: debt maturities by year (FY2025)Belden: debt maturities by year (FY2025)$529MYear 2$411MYear 3$352MAfter year 5
Principal due in each year as disclosed in the annual report, against $381M of cash and investments now.

Where the cash came from and went

Belden: sources (+) and uses (−) of cash, Q3 2026Belden: sources (+) and uses (−) of cash, Q3 2026Acquisitions−$1.9BNet borrowing (+) / repaid (−)$1.8BOperating cash flow$130MCapital spending−$47.8MOther financing−$33.0MCash drawn (+) / kept (−)−$32.1MShares issued$8.9MDividends−$1.9MExchange rates$1.2MTaxes on employees’ shares−$254KAsset & business sales$99K
Belden: sources (+) and uses (−) of cash, TTM to Q3 2026Belden: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$2.3BAcquisitions−$1.9BNet borrowing (+) / repaid (−)−$588MOperating cash flow$401MCapital spending−$172MCash drawn (+) / kept (−)−$66.4MTaxes on employees’ shares−$19.1MShares issued$13.6MDividends−$7.8MAsset & business sales$130KExchange rates−$105K

From profit to cash

Belden: net income to operating cash flow, Q3 2026Belden: net income to operating cash flow, Q3 2026Net income−$11.4MDepreciation & amortization$78.4MStock-based pay$11.1MReceivables−$2.7MInventory$19.8MPayables$6.2MAccrued liabilities$51.1MPrepaid and other assets−$1.4MOther liabilities$2.9MIncome taxes payable−$24.5MOperating cash flow$130M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202657715573
Q2 202663846878
Q1 202661836975
Q4 202560826973
Q3 202560826477
Q2 202559846776
Q1 202559847370
Q4 202459797069

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$130M−$47.8M−$1.9B−$1.9M$1.8B$8.9M−$32.1M$81.8M
Q2 2026$129M−$40.7M—−$2.0M−$498K—−$76.5M$88.6M
Q1 2026−$18.7M−$44.4M—−$2.0M$903K$4.7M$118M−$63.1M
Q4 2025$160M−$39.1M—−$2.0M−$492K—−$75.6M$121M
Q3 2025$105M−$39.7M−$174K−$2.0M−$463K$7.8M−$12.8M$65.3M
Q2 2025$82.0M−$25.2M—−$2.0M−$456K—−$42.5M$56.9M
Q1 2025$7.4M−$32.2M$7.9M−$2.0M−$422K$3.8M$111M−$24.8M
Q4 2024$175M−$58.3M−$861K−$2.0M——−$47.3M$116M

Belden: income statement and cash flow

Belden, Q3 2026: revenue $966M (+38% year over year), operating margin 1.7%. The chart follows the revenue to costs, profit and cash.

Belden: 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.