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Benchmark Electronics cash flow, quarter by quarter

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

Free cash flow$15.4M in Q3 2026 · $117M over twelve months

Operating cash flow$29.9M
Capital spending−$14.5M
Free cash flow+$15.4M
Cash / net income1.7×
Cash conversion cycle48 days

Analysis

In Q3 2026, Benchmark Electronics generated $29.9M of operating cash flow and spent $14.5M on capital projects, leaving free cash flow of $15.4M. That is $9.7M less than in Q3 2025 ($25.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $170M; the largest uses were net borrowing (+) / repaid (−) ($58.8M), capital spending ($53.7M), dividends ($24.3M); besides operations, cash came from asset & business sales ($801K); the cash balance rose by $4.6M.

Operating cash flow was $29.9M against net income of $17.1M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: payables +$110M, inventory −$89.6M, contract assets −$25.1M.

Its cash conversion cycle was 48 days (receivables 50 + inventory 75 − payables 77).

Free cash flow

Benchmark Electronics: free cash flow by quarterBenchmark Electronics: free cash flow by quarter$36.9MQ4 2024$27.3MQ1 2025−$15.1MQ2 2025$25.1MQ3 2025$48.1MQ4 2025$28.8MQ1 2026$21.8MQ2 2026$15.4MQ3 2026
Operating cash flow less capital spending.
Benchmark Electronics: operating cash flow against capital spendingBenchmark Electronics: operating cash flow against capital spendingOperating cash flowCapital spending$45.9M$9.0MQ4 2024$31.5M$4.2MQ1 2025−$2.8M$12.3MQ2 2025$36.6M$11.5MQ3 2025$58.7M$10.6MQ4 2025$47.0M$18.3MQ1 2026$34.7M$12.9MQ2 2026$29.9M$14.5MQ3 2026
Latest (Q3 2026): Operating cash flow $29.9M, Capital spending $14.5M.

Capital allocation, year by year

Benchmark Electronics: where the cash came from (up) and went (down), by fiscal yearBenchmark Electronics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow −$2.6MFY2021: Net borrowing −$6.5MFY2021: Shares issued $346KFY2021: Capital spending −$42.2MFY2021: Buybacks −$40.2MFY2021: Dividends −$23.3M$346KFY2021FY2022: Operating cash flow −$177MFY2022: Net borrowing $195MFY2022: Shares issued $716KFY2022: Asset sales $5.4MFY2022: Capital spending −$46.8MFY2022: Buybacks −$9.4MFY2022: Dividends −$23.2M$201MFY2022FY2023: Operating cash flow $174MFY2023: Net borrowing $5.7MFY2023: Shares issued $129KFY2023: Capital spending −$77.7MFY2023: Dividends −$23.5M$180MFY2023FY2024: Operating cash flow $189MFY2024: Net borrowing −$74.3MFY2024: Shares issued $482KFY2024: Capital spending −$33.3MFY2024: Buybacks −$5.1MFY2024: Dividends −$23.9M$190MFY2024FY2025: Operating cash flow $124MFY2025: Net borrowing −$45.1MFY2025: Shares issued $4KFY2025: Asset sales $5.8MFY2025: Capital spending −$38.5MFY2025: Buybacks −$26.8MFY2025: Dividends −$24.4M$130MFY2025
Over these 5 years operating cash flow totalled $307M; the largest uses were capital spending ($238M) and operating cash flow ($180M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$291M
Debt$158M
Net cash$133M
Due within a year$3.8M

Benchmark Electronics funds itself: free cash flow was $117M over the last twelve months, and $291M of cash and investments stands against $158M of debt ($3.8M due within a year, 77.5× covered by cash).

Where the cash came from and went

Benchmark Electronics: sources (+) and uses (−) of cash, Q3 2026Benchmark Electronics: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$29.9MCash drawn (+) / kept (−)$24.6MNet borrowing (+) / repaid (−)−$22.9MCapital spending−$14.5MBuybacks−$8.5MDividends−$6.1MTaxes on employees’ shares−$783KOther investing−$773KExchange rates−$510KOther financing−$368K
Benchmark Electronics: sources (+) and uses (−) of cash, TTM to Q3 2026Benchmark Electronics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$170MNet borrowing (+) / repaid (−)−$58.8MCapital spending−$53.7MDividends−$24.3MBuybacks−$15.1MTaxes on employees’ shares−$9.2MCash drawn (+) / kept (−)−$4.6MExchange rates−$3.6MOther investing−$1.3MAsset & business sales$801KOther financing−$362K

From profit to cash

Benchmark Electronics: net income to operating cash flow, Q3 2026Benchmark Electronics: net income to operating cash flow, Q3 2026Net income$17.1MDepreciation & amortization$12.2MStock-based pay$9.5MDeferred taxes$1.8MGains on disposals$56KReceivables$15.9MInventory−$89.6MPayables$110MAccrued liabilities$6.2MDeferred revenue−$599KContract assets−$25.1MPrepaid and other assets−$10.5MIncome taxes payable−$17.1MOperating cash flow$29.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202650757748
Q2 202650716753
Q1 202651736361
Q4 202550725765
Q3 202550785573
Q2 202553865880
Q1 202556885886
Q4 202455895588

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$29.9M−$14.5M−$8.5M−$6.1M−$22.9M—$24.6M$15.4M
Q2 2026$34.7M−$12.9M—−$6.1M−$23.9M—$10.0M$21.8M
Q1 2026$47.0M−$18.3M−$5.8M−$6.1M−$5.9M—−$2.8M$28.8M
Q4 2025$58.7M−$10.6M−$854K−$6.1M−$6.0M—−$36.3M$48.1M
Q3 2025$36.6M−$11.5M−$10.0M−$6.1M$9.0M—−$21.4M$25.1M
Q2 2025−$2.8M−$12.3M−$8.0M−$6.1M−$66.5M—$90.7M−$15.1M
Q1 2025$31.5M−$4.2M−$8.0M−$6.1M$18.3M$4K−$27.3M$27.3M
Q4 2024$45.9M−$9.0M$1K−$6.1M−$21.7M—−$3.6M$36.9M

Benchmark Electronics: income statement and cash flow

Benchmark Electronics, Q3 2026: revenue $811M (+19% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

Benchmark Electronics: 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.