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Bellring Brands cash flow, quarter by quarter

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

Free cash flow$77.2M in Q3 FY26 · $225M over twelve months

Operating cash flow$79.3M
Capital spending−$2.1M
Free cash flow+$77.2M
Cash / net income2.3×
Cash conversion cycle104 days

Analysis

In Q3 FY26, Bellring Brands generated $79.3M of operating cash flow and spent $2.1M on capital projects, leaving free cash flow of $77.2M. That is $38.7M more than in Q3 FY25 ($38.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was $234M; the largest uses were other financing ($354M), capital spending ($9.1M); besides operations, cash came from net borrowing (+) / repaid (−) ($125M); the cash balance fell by $3.9M.

Operating cash flow was $79.3M against net income of $34.2M — 2.3× profit, cash ran ahead of reported earnings. The largest differences: inventory −$71.6M, receivables +$55.7M, payables +$43.0M.

Its cash conversion cycle was 104 days (receivables 39 + inventory 99 − payables 34).

Free cash flow

Bellring Brands: free cash flow by quarterBellring Brands: free cash flow by quarter$38.9MQ4 FY24$1.7MQ1 FY25$47.6MQ2 FY25$38.5MQ3 FY25$168MQ4 FY25−$7.3MQ1 FY26−$13.0MQ2 FY26$77.2MQ3 FY26
Operating cash flow less capital spending.
Bellring Brands: operating cash flow against capital spendingBellring Brands: operating cash flow against capital spendingOperating cash flowCapital spending$40.1M$1.2MQ4 FY24$3.0M$1.3MQ1 FY25$48.2M$600KQ2 FY25$40.3M$1.8MQ3 FY25$169M$1.0MQ4 FY25−$3.1M$4.2MQ1 FY26−$11.2M$1.8MQ2 FY26$79.3M$2.1MQ3 FY26
Latest (Q3 FY26): Operating cash flow $79.3M, Capital spending $2.1M.

Capital allocation, year by year

Bellring Brands: where the cash came from (up) and went (down), by fiscal yearBellring Brands: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingBuybacksFY21: Operating cash flow $226MFY21: Net borrowing −$93.8MFY21: Capital spending −$1.6M$226MFY21FY22: Operating cash flow $21.0MFY22: Net borrowing −$511MFY22: Capital spending −$1.8MFY22: Buybacks −$42.8M$21.0MFY22FY23: Operating cash flow $216MFY23: Net borrowing −$74.0MFY23: Capital spending −$1.8MFY23: Buybacks −$126M$216MFY23FY24: Operating cash flow $200MFY24: Net borrowing −$25.0MFY24: Capital spending −$1.8MFY24: Buybacks −$147M$200MFY24FY25: Operating cash flow $261MFY25: Net borrowing $250MFY25: Capital spending −$4.7MFY25: Buybacks −$475M$511MFY25
Over these 5 years operating cash flow totalled $923M; the largest uses were buybacks ($790M) and net borrowing ($704M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$50.4M
Debt$1.1B
Net debt$1.1B

Bellring Brands funds itself: free cash flow was $225M over the last twelve months, and $50.4M of cash and investments stands against $1.1B of debt.

Where the cash came from and went

Bellring Brands: sources (+) and uses (−) of cash, Q3 FY26Bellring Brands: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$79.3MNet borrowing (+) / repaid (−)−$50.0MCash drawn (+) / kept (−)−$17.8MBuybacks−$10.0MCapital spending−$2.1MExchange rates$600K
Bellring Brands: sources (+) and uses (−) of cash, TTM to Q3 FY26Bellring Brands: sources (+) and uses (−) of cash, TTM to Q3 FY26Other financing−$354MOperating cash flow$234MNet borrowing (+) / repaid (−)$125MCapital spending−$9.1MCash drawn (+) / kept (−)$3.9MExchange rates$500K

From profit to cash

Bellring Brands: net income to operating cash flow, Q3 FY26Bellring Brands: net income to operating cash flow, Q3 FY26Net income$34.2MDepreciation & amortization$5.2MStock-based pay$6.4MDeferred taxes−$7.2MReceivables$55.7MInventory−$71.6MPayables$43.0MPrepaid and other assets−$1.9MOperating cash flow$79.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY26399934104
Q2 FY2639873393
Q1 FY2640943697
Q4 FY2533742583
Q3 FY254210337108
Q2 FY2537833190
Q1 FY2538883294
Q4 FY2437693175

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26$79.3M−$2.1M−$10.0M−$50.0M−$17.8M$77.2M
Q2 FY26−$11.2M−$1.8M−$30.3M—$43.8M−$13.0M
Q1 FY26−$3.1M−$4.2M−$96.9M$100M$12.1M−$7.3M
Q4 FY25$169M−$1.0M—$75.0M−$34.2M$168M
Q3 FY25$40.3M−$1.8M−$83.0M$55.0M−$10.7M$38.5M
Q2 FY25$48.2M−$600K−$173M$120M$5.4M$47.6M
Q1 FY25$3.0M−$1.3M−$11.8M—$21.5M$1.7M
Q4 FY24$40.1M−$1.2M——$1.5M$38.9M

Bellring Brands: income statement and cash flow

Bellring Brands, Q3 FY26: revenue $570M (+4% year over year), operating margin 11.5%. The chart follows the revenue to costs, profit and cash.

Bellring Brands: 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.