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Blue Bird cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$21.7M in Q3 FY26 · $153M over twelve months

Operating cash flow$31.0M
Capital spending−$9.4M
Free cash flow+$21.7M
Cash / net income0.2×
Cash conversion cycle22 days

Analysis

In Q3 FY26, Blue Bird generated $31.0M of operating cash flow and spent $9.4M on capital projects, leaving free cash flow of $21.7M.

Over the twelve months to Jun 27, 2026, operating cash flow was $180M; the largest uses were other financing ($151M), other investing ($50.0M), capital spending ($27.4M); the cash balance fell by $56.2M.

Operating cash flow was $31.0M against net income of $185M — 0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$40.6M, payables +$32.8M, inventory −$12.6M.

Its cash conversion cycle was 22 days (receivables 6 + inventory 49 − payables 33).

Free cash flow

Blue Bird: free cash flow by quarterBlue Bird: free cash flow by quarter$50.2MQ4 FY24$21.8MQ1 FY25$18.7MQ2 FY25$52.3MQ3 FY25$60.5MQ4 FY25$31.1MQ1 FY26$39.9MQ2 FY26$21.7MQ3 FY26
Operating cash flow less capital spending.
Blue Bird: operating cash flow against capital spendingBlue Bird: operating cash flow against capital spendingOperating cash flowCapital spending$55.4M$5.1MQ4 FY24$26.4M$4.6MQ1 FY25$27.8M$9.0MQ2 FY25$56.9M$4.6MQ3 FY25$65.1M$4.7MQ4 FY25$36.6M$5.5MQ1 FY26$47.8M$7.9MQ2 FY26$31.0M$9.4MQ3 FY26
Latest (Q3 FY26): Operating cash flow $31.0M, Capital spending $9.4M.

Capital allocation, year by year

Blue Bird: where the cash came from (up) and went (down), by fiscal yearBlue Bird: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY22: Operating cash flow −$24.4MFY22: Net borrowing −$26.1MFY22: Shares issued $75.3MFY22: Capital spending −$6.5MFY22: Buybacks −$1.7M$75.3MFY22FY22: Operating cash flow −$24.4MFY22: Net borrowing −$26.1MFY22: Shares issued $75.3MFY22: Capital spending −$6.5MFY22: Buybacks −$1.7M$75.3MFY22FY23: Operating cash flow $120MFY23: Net borrowing −$20.6MFY23: Shares issued $1.1MFY23: Capital spending −$8.5MFY23: Buybacks −$376K$121MFY23FY24: Operating cash flow $111MFY24: Net borrowing −$589KFY24: Shares issued $3.8MFY24: Capital spending −$15.3MFY24: Buybacks −$1.2M$115MFY24FY25: Operating cash flow $176MFY25: Net borrowing −$981KFY25: Shares issued $4.7MFY25: Capital spending −$22.9MFY25: Buybacks −$9.9M$181MFY25
Over these 5 years operating cash flow totalled $358M; the largest uses were net borrowing ($74.4M) and capital spending ($59.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$117M
Debt$86.8M
Net cash$30.0M
Due within a year$5.0M

Blue Bird funds itself: free cash flow was $153M over the last twelve months, and $117M of cash and investments stands against $86.8M of debt ($5.0M due within a year, 23.4× covered by cash).

Blue Bird: debt maturities by year (FY25)Blue Bird: debt maturities by year (FY25)$5.0MYear 1$5.0MYear 2$5.0MYear 3$76.2MYear 4
Principal due in each year as disclosed in the annual report, against $117M of cash and investments now.

Where the cash came from and went

Blue Bird: sources (+) and uses (−) of cash, Q3 FY26Blue Bird: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)$159MOther financing−$131MOther investing−$49.6MOperating cash flow$31.0MCapital spending−$9.4MNet borrowing (+) / repaid (−)−$231K
Blue Bird: sources (+) and uses (−) of cash, TTM to Q3 FY26Blue Bird: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$180MOther financing−$151MCash drawn (+) / kept (−)$56.2MOther investing−$50.0MCapital spending−$27.4MBuybacks−$8.1MNet borrowing (+) / repaid (−)−$231K

From profit to cash

Blue Bird: net income to operating cash flow, Q3 FY26Blue Bird: net income to operating cash flow, Q3 FY26Net income$185MDepreciation & amortization$8.7MStock-based pay$1.5MDeferred taxes−$5.3MGains on disposals$1KReceivables−$40.6MInventory−$12.6MPayables$32.8MAccrued liabilities−$6.7MPrepaid and other assets$7.1MOperating cash flow$31.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY266493322
Q2 FY26346409
Q1 FY26449476
Q4 FY25541423
Q3 FY25446446
Q2 FY25452469
Q1 FY2511525012
Q4 FY2412434212

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26$31.0M−$9.4M—−$231K$159M$21.7M
Q2 FY26$47.8M−$7.9M−$198K—−$34.2M$39.9M
Q1 FY26$36.6M−$5.5M−$2.4M—−$12.4M$31.1M
Q4 FY25$65.1M−$4.7M−$5.5M—−$56.2M$60.5M
Q3 FY25$56.9M−$4.6M—−$377K−$42.3M$52.3M
Q2 FY25$27.8M−$9.0M−$3.0M−$66K$5.4M$18.7M
Q1 FY25$26.4M−$4.6M−$1.4M−$538K−$8.4M$21.8M
Q4 FY24$55.4M−$5.1M−$877K−$149K−$39.3M$50.2M

Blue Bird: income statement and cash flow

Blue Bird, Q3 FY26: revenue $517M (+30% year over year), operating margin 12.1%. The chart follows the revenue to costs, profit and cash.

Blue Bird: 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.