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DMC Global cash flow, quarter by quarter

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

Free cash flow$16.5M in Q3 2026 · $12.4M over twelve months

Operating cash flow$17.5M
Capital spending−$980K
Free cash flow+$16.5M
Cash / net income1.5×
Cash conversion cycle141 days

Analysis

In Q3 2026, DMC Global generated $17.5M of operating cash flow and spent $980K on capital projects, leaving free cash flow of $16.5M. That is $2.2M more than in Q3 2025 ($14.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $22.4M; the largest uses were capital spending ($9.9M), net borrowing (+) / repaid (−) ($5.3M), buybacks ($1.0M); besides operations, cash came from other investing ($3.5M), asset & business sales ($345K); the cash balance rose by $11.5M.

Operating cash flow was $17.5M against net income of $12.1M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: payables +$8.4M, depreciation & amortization +$8.0M, receivables −$7.5M.

Its cash conversion cycle was 141 days (receivables 56 + inventory 124 − payables 39).

Free cash flow

DMC Global: free cash flow by quarterDMC Global: free cash flow by quarter$6.1MQ4 2024$709KQ1 2025$12.3MQ2 2025$14.4MQ3 2025$9.6MQ4 2025−$4.5MQ1 2026−$9.2MQ2 2026$16.5MQ3 2026
Operating cash flow less capital spending.
DMC Global: operating cash flow against capital spendingDMC Global: operating cash flow against capital spendingOperating cash flowCapital spending$11.8M$5.7MQ4 2024$4.5M$3.8MQ1 2025$15.2M$2.9MQ2 2025$18.6M$4.2MQ3 2025$15.2M$5.6MQ4 2025−$2.4M$2.1MQ1 2026−$8.0M$1.3MQ2 2026$17.5M$980KQ3 2026
Latest (Q3 2026): Operating cash flow $17.5M, Capital spending $980K.

Capital allocation, year by year

DMC Global: where the cash came from (up) and went (down), by fiscal yearDMC Global: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow −$12.8MFY2021: Net borrowing $138MFY2021: Shares issued $434KFY2021: Asset sales $1.0MFY2021: Capital spending −$8.7MFY2021: Acquisitions −$261MFY2021: Buybacks −$2.5M$140MFY2021FY2022: Operating cash flow $44.9MFY2022: Net borrowing −$15.0MFY2022: Shares issued $201KFY2022: Asset sales $62KFY2022: Capital spending −$18.6MFY2022: Buybacks −$1.2M$45.2MFY2022FY2023: Operating cash flow $65.9MFY2023: Net borrowing −$17.5MFY2023: Shares issued $314KFY2023: Asset sales $344KFY2023: Capital spending −$16.0MFY2023: Buybacks −$2.5M$66.6MFY2023FY2024: Operating cash flow $46.6MFY2024: Net borrowing $74.4MFY2024: Shares issued $132KFY2024: Asset sales $103KFY2024: Capital spending −$17.3MFY2024: Buybacks −$1.2MFY2024: Dividends −$2.5M$121MFY2024FY2025: Operating cash flow $53.5MFY2025: Net borrowing −$20.5MFY2025: Asset sales $47KFY2025: Capital spending −$16.5MFY2025: Buybacks −$1.2M$53.6MFY2025
Over these 5 years operating cash flow totalled $198M; the largest uses were acquisitions ($261M) and capital spending ($77.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$38.0M
Debt$51.7M
Net debt$13.7M
Due within a year$3.8M

DMC Global funds itself: free cash flow was $12.4M over the last twelve months, and $38.0M of cash and investments stands against $51.7M of debt ($3.8M due within a year, 10.1× covered by cash).

Where the cash came from and went

DMC Global: sources (+) and uses (−) of cash, Q3 2026DMC Global: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$17.5MCash drawn (+) / kept (−)−$9.4MNet borrowing (+) / repaid (−)−$6.6MCapital spending−$980KOther financing−$938KExchange rates$273KOther investing$95KAsset & business sales$10K
DMC Global: sources (+) and uses (−) of cash, TTM to Q3 2026DMC Global: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$22.4MCash drawn (+) / kept (−)−$11.5MCapital spending−$9.9MNet borrowing (+) / repaid (−)−$5.3MOther investing$3.5MExchange rates$1.6MBuybacks−$1.0MAsset & business sales$345K

From profit to cash

DMC Global: net income to operating cash flow, Q3 2026DMC Global: net income to operating cash flow, Q3 2026Net income$12.1MDepreciation & amortization$8.0MStock-based pay$807KDeferred taxes−$141KOther non-cash−$185KReceivables−$7.5MInventory−$5.1MPayables$8.4MAccrued liabilities$3.4MDeferred revenue−$5.3MPrepaid and other assets$2.9MOperating cash flow$17.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265612439141
Q2 20265612440140
Q1 20266112744145
Q4 20256411037137
Q3 20256611034142
Q2 20256611233145
Q1 20256211535142
Q4 20246512138148

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$17.5M−$980K—−$6.6M−$9.4M$16.5M
Q2 2026−$8.0M−$1.3M−$93K$5.9M$3.0M−$9.2M
Q1 2026−$2.4M−$2.1M−$367K$3.8M$387K−$4.5M
Q4 2025$15.2M−$5.6M−$587K−$5.4M−$5.5M$9.6M
Q3 2025$18.6M−$4.2M−$15K−$1.6M−$14.0M$14.4M
Q2 2025$15.2M−$2.9M−$79K−$13.8M$2.3M$12.3M
Q1 2025$4.5M−$3.8M−$484K$2.1M−$416K$709K
Q4 2024$11.8M−$5.7M−$240K−$2.9M$222K$6.1M

DMC Global: income statement and cash flow

DMC Global, Q3 2026: revenue $173M (+14% year over year), operating margin 8.4%. The chart follows the revenue to costs, profit and cash.

DMC Global: 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.