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BrightSpring Health Services cash flow, quarter by quarter

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

Free cash flow$182M in Q3 2026 · $492M over twelve months

Operating cash flow$204M
Capital spending−$22.1M
Free cash flow+$182M
Cash / net income2.0×

Analysis

In Q3 2026, BrightSpring Health Services generated $204M of operating cash flow and spent $22.1M on capital projects, leaving free cash flow of $182M. That is $90.1M more than in Q3 2025 ($92.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $603M; the largest uses were net borrowing (+) / repaid (−) ($356M), acquisitions ($240M), other financing ($167M); besides operations, cash came from other investing ($813M), shares issued ($47.9M); the cash balance rose by $577M.

Operating cash flow was $204M against net income of $100M — 2.0× profit, cash ran ahead of reported earnings. The largest differences: payables +$142M, inventory −$96.6M, receivables −$83.4M.

Free cash flow

BrightSpring Health Services: free cash flow by quarterBrightSpring Health Services: free cash flow by quarter$75.3MQ4 2024$84.0MQ1 2025$24.7MQ2 2025$92.2MQ3 2025$194MQ4 2025$101MQ1 2026$14.9MQ2 2026$182MQ3 2026
Operating cash flow less capital spending.
BrightSpring Health Services: operating cash flow against capital spendingBrightSpring Health Services: operating cash flow against capital spendingOperating cash flowCapital spending$90.6M$15.3MQ4 2024$102M$17.6MQ1 2025$49.1M$24.4MQ2 2025$108M$15.8MQ3 2025$232M$37.7MQ4 2025$123M$21.5MQ1 2026$43.9M$29.0MQ2 2026$204M$22.1MQ3 2026
Latest (Q3 2026): Operating cash flow $204M, Capital spending $22.1M.

Capital allocation, year by year

BrightSpring Health Services: where the cash came from (up) and went (down), by fiscal yearBrightSpring Health Services: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2022: Operating cash flow −$4.7MFY2022: Net borrowing −$68.9MFY2022: Shares issued $200KFY2022: Asset sales $156MFY2022: Capital spending −$70.1MFY2022: Acquisitions −$42.5M$156MFY2022FY2023: Operating cash flow $211MFY2023: Net borrowing −$66.1MFY2023: Shares issued $600KFY2023: Capital spending −$73.5MFY2023: Acquisitions −$63.1MFY2023: Buybacks −$650K$211MFY2023FY2024: Operating cash flow $23.8MFY2024: Net borrowing −$829MFY2024: Shares issued $658MFY2024: Capital spending −$80.9MFY2024: Acquisitions −$59.8MFY2024: Buybacks −$650K$682MFY2024FY2025: Operating cash flow $490MFY2025: Net borrowing −$127MFY2025: Shares issued $25.3MFY2025: Capital spending −$95.5MFY2025: Acquisitions −$205MFY2025: Buybacks −$43.2M$515MFY2025
Over these 4 years operating cash flow totalled $720M; the largest uses were net borrowing ($1.1B) and acquisitions ($370M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$718M
Debt$2.2B
Net debt$1.5B
Due within a year$52.3M

BrightSpring Health Services funds itself: free cash flow was $492M over the last twelve months, and $718M of cash and investments stands against $2.2B of debt ($52.3M due within a year, 13.7× covered by cash).

BrightSpring Health Services: debt maturities by year (FY2025)BrightSpring Health Services: debt maturities by year (FY2025)$52.3MYear 1$32.1MYear 2$40.5MYear 3$25.5MYear 4$25.5MYear 5$2.4BAfter year 5
Principal due in each year as disclosed in the annual report, against $718M of cash and investments now.

Where the cash came from and went

BrightSpring Health Services: sources (+) and uses (−) of cash, Q3 2026BrightSpring Health Services: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$204MCash drawn (+) / kept (−)−$167MCapital spending−$22.1MNet borrowing (+) / repaid (−)−$13.6MTaxes on employees’ shares−$4.9MShares issued$4.8MAcquisitions−$1.9MOther investing$827K
BrightSpring Health Services: sources (+) and uses (−) of cash, TTM to Q3 2026BrightSpring Health Services: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$813MOperating cash flow$603MCash drawn (+) / kept (−)−$577MNet borrowing (+) / repaid (−)−$356MAcquisitions−$240MOther financing−$167MCapital spending−$110MShares issued$47.9MTaxes on employees’ shares−$13.5MPartners−$267K

From profit to cash

BrightSpring Health Services: net income to operating cash flow, Q3 2026BrightSpring Health Services: net income to operating cash flow, Q3 2026Net income$100MDepreciation & amortization$38.4MStock-based pay$17.9MOther non-cash−$771KReceivables−$83.4MInventory−$96.6MPayables$142MAccrued liabilities$19.2MPrepaid and other assets$45.1MOther operating capital−$1.4MOperating cash flow$204M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$204M−$22.1M−$1.9M—−$13.6M$4.8M−$167M$182M
Q2 2026$43.9M−$29.0M—−$60.0M−$310M$20.3M$338M$14.9M
Q1 2026$123M−$21.5M−$42.2M−$60.0M−$16.4M$12.1M−$800M$101M
Q4 2025$232M−$37.7M−$196M—−$15.8M$10.6M$52.8M$194M
Q3 2025$108M−$15.8M−$1.6M—−$17.7M$5.6M−$71.1M$92.2M
Q2 2025$49.1M−$24.4M——−$15.2M$8.7M−$17.6M$24.7M
Q1 2025$102M−$17.6M−$6.8M—−$78.5M$345K$8.6M$84.0M
Q4 2024$90.6M−$15.3M−$42K—−$47.9M$1.0M−$25.3M$75.3M

BrightSpring Health Services: income statement and cash flow

BrightSpring Health Services, Q3 2026: revenue $4.2B (+26% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

BrightSpring Health Services: 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.