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BJ's Wholesale Club Holdings cash flow, quarter by quarter

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

Free cash flow$224M in Q2 FY27 · $358M over twelve months

Operating cash flow$401M
Capital spending−$177M
Free cash flow+$224M
Cash / net income2.3×
Cash conversion cycle8 days

Analysis

In Q2 FY27, BJ's Wholesale Club Holdings generated $401M of operating cash flow and spent $177M on capital projects, leaving free cash flow of $224M.

Over the twelve months to Aug 1, 2026, operating cash flow was $1.1B; the largest uses were capital spending ($755M), buybacks ($553M); besides operations, cash came from net borrowing (+) / repaid (−) ($125M), other investing ($37.4M); the cash balance fell by $17.3M.

Operating cash flow was $401M against net income of $174M — 2.3× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$78.9M, accrued liabilities +$55.6M, inventory +$51.2M.

Its cash conversion cycle was 8 days (receivables 5 + inventory 29 − payables 25).

Free cash flow

BJ's Wholesale Club Holdings: free cash flow by quarterBJ's Wholesale Club Holdings: free cash flow by quarter$18.8MQ3 FY25$111MQ4 FY25$67.6MQ1 FY26$84.3MQ2 FY26−$13.7MQ3 FY26$190MQ4 FY26−$42.0MQ1 FY27$224MQ2 FY27
Operating cash flow less capital spending.
BJ's Wholesale Club Holdings: operating cash flow against capital spendingBJ's Wholesale Club Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$207M$188MQ3 FY25$272M$160MQ4 FY25$208M$140MQ1 FY26$250M$166MQ2 FY26$181M$195MQ3 FY26$391M$201MQ4 FY26$140M$182MQ1 FY27$401M$177MQ2 FY27
Latest (Q2 FY27): Operating cash flow $401M, Capital spending $177M.

Capital allocation, year by year

BJ's Wholesale Club Holdings: where the cash came from (up) and went (down), by fiscal yearBJ's Wholesale Club Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $832MFY22: Net borrowing −$361MFY22: Shares issued $18.7MFY22: Capital spending −$324MFY22: Buybacks −$194MFY22: Dividends −$25K$850MFY22FY23: Operating cash flow $788MFY23: Net borrowing $151MFY23: Shares issued $8.4MFY23: Capital spending −$398MFY23: Acquisitions −$377MFY23: Buybacks −$172MFY23: Dividends −$25K$947MFY23FY24: Operating cash flow $719MFY24: Net borrowing −$89.1MFY24: Shares issued $2.6MFY24: Capital spending −$467MFY24: Buybacks −$155MFY24: Dividends −$25K$721MFY24FY25: Operating cash flow $901MFY25: Net borrowing −$151MFY25: Shares issued $18.3MFY25: Capital spending −$588MFY25: Buybacks −$220MFY25: Dividends −$25K$919MFY25FY26: Operating cash flow $1.0BFY26: Net borrowing −$64.4MFY26: Shares issued $5.0MFY26: Capital spending −$702MFY26: Buybacks −$287M$1.0BFY26
Over these 5 years operating cash flow totalled $4.3B; the largest uses were capital spending ($2.5B) and buybacks ($1.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$30.0M
Debt$399M
Net debt$369M
Due within a year$230M

BJ's Wholesale Club Holdings funds itself: free cash flow was $358M over the last twelve months, and $30.0M of cash and investments stands against $399M of debt ($230M due within a year, 0.1× covered by cash).

Where the cash came from and went

BJ's Wholesale Club Holdings: sources (+) and uses (−) of cash, Q2 FY27BJ's Wholesale Club Holdings: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$401MCapital spending−$177MNet borrowing (+) / repaid (−)−$145MBuybacks−$123MOther investing$40.2MOther financing$4.6MCash drawn (+) / kept (−)−$2.2MShares issued$1.2M
BJ's Wholesale Club Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27BJ's Wholesale Club Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$1.1BCapital spending−$755MBuybacks−$553MNet borrowing (+) / repaid (−)$125MOther investing$37.4MCash drawn (+) / kept (−)$17.3MOther financing$13.4MShares issued$1.4M

From profit to cash

BJ's Wholesale Club Holdings: net income to operating cash flow, Q2 FY27BJ's Wholesale Club Holdings: net income to operating cash flow, Q2 FY27Net income$174MDepreciation & amortization$78.9MStock-based pay$15.5MDeferred taxes$5.0MOther non-cash−$10.4MReceivables$11.1MInventory$51.2MPayables−$11.0MAccrued liabilities$55.6MPrepaid and other assets$31.2MOperating cash flow$401M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY27529258
Q1 FY27532279
Q4 FY265322710
Q3 FY265342811
Q2 FY264322610
Q1 FY265332711
Q4 FY255342811
Q3 FY255363011

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$401M−$177M−$123M−$145M$1.2M−$2.2M$224M
Q1 FY27$140M−$182M−$226M$255M$125K$18.4M−$42.0M
Q4 FY26$391M−$201M−$117M−$80.0M—−$1.1M$190M
Q3 FY26$181M−$195M−$87.3M$95.0M—$2.2M−$13.7M
Q2 FY26$250M−$166M−$41.6M−$45.0M—−$7.8M$84.3M
Q1 FY26$208M−$140M−$41.3M−$25.0M$5.0M−$11.2M$67.6M
Q4 FY25$272M−$160M−$61.6M−$70.0M$2.8M$5.6M$111M
Q3 FY25$207M−$188M−$58.1M$28.0M$2K$4.2M$18.8M

BJ's Wholesale Club Holdings: income statement and cash flow

BJ's Wholesale Club Holdings, Q2 FY27: revenue $6.2B (+16% year over year), operating margin 4.1%. The chart follows the revenue to costs, profit and cash.

BJ's Wholesale Club 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.