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Burlington Stores cash flow, quarter by quarter

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

Free cash flow$29.5M in Q2 FY27 · $413M over twelve months

Operating cash flow$273M
Capital spending−$244M
Free cash flow+$29.5M
Cash / net income1.5×
Cash conversion cycle27 days

Analysis

In Q2 FY27, Burlington Stores generated $273M of operating cash flow and spent $244M on capital projects, leaving free cash flow of $29.5M.

Over the twelve months to Aug 1, 2026, operating cash flow was $1.4B; the largest uses were capital spending ($1.0B), buybacks ($346M), net borrowing (+) / repaid (−) ($131M); besides operations, cash came from shares issued ($53.1M); the cash balance fell by $43.9M.

Operating cash flow was $273M against net income of $184M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$114M, inventory −$97.1M, payables +$59.0M.

Its cash conversion cycle was 27 days (receivables 4 + inventory 84 − payables 61).

Free cash flow

Burlington Stores: free cash flow by quarterBurlington Stores: free cash flow by quarter−$56.2MQ3 FY25$190MQ4 FY25−$439MQ1 FY26−$101KQ2 FY26−$110MQ3 FY26$720MQ4 FY26−$227MQ1 FY27$29.5MQ2 FY27
Operating cash flow less capital spending.
Burlington Stores: operating cash flow against capital spendingBurlington Stores: operating cash flow against capital spendingOperating cash flowCapital spending$110M$167MQ3 FY25$543M$353MQ4 FY25−$28.9M$410MQ1 FY26$179M$180MQ2 FY26$143M$253MQ3 FY26$938M$218MQ4 FY26$61.5M$289MQ1 FY27$273M$244MQ2 FY27
Latest (Q2 FY27): Operating cash flow $273M, Capital spending $244M.

Capital allocation, year by year

Burlington Stores: where the cash came from (up) and went (down), by fiscal yearBurlington Stores: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY22: Operating cash flow $833MFY22: Net borrowing −$328MFY22: Shares issued $39.9MFY22: Capital spending −$352MFY22: Buybacks −$267M$873MFY22FY23: Operating cash flow $596MFY23: Net borrowing −$82.7MFY23: Shares issued $20.6MFY23: Capital spending −$447MFY23: Buybacks −$317M$617MFY23FY24: Operating cash flow $869MFY24: Net borrowing −$93.8MFY24: Shares issued $18.8MFY24: Capital spending −$493MFY24: Buybacks −$243M$888MFY24FY25: Operating cash flow $863MFY25: Net borrowing −$2.6MFY25: Shares issued $31.7MFY25: Capital spending −$880MFY25: Buybacks −$256M$895MFY25FY26: Operating cash flow $1.2BFY26: Net borrowing −$158MFY26: Shares issued $25.3MFY26: Capital spending −$1.1BFY26: Buybacks −$278M$1.3BFY26
Over these 5 years operating cash flow totalled $4.4B; the largest uses were capital spending ($3.2B) and buybacks ($1.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$704M
Debt$1.9B
Net debt$1.2B
Due within a year$17.5M

Burlington Stores funds itself: free cash flow was $413M over the last twelve months, and $704M of cash and investments stands against $1.9B of debt ($17.5M due within a year, 40.2× covered by cash).

Burlington Stores: debt maturities by year (FY26)Burlington Stores: debt maturities by year (FY26)$17.5MYear 1$315MYear 2$17.5MYear 3$17.5MYear 4$17.5MYear 5$1.6BAfter year 5
Principal due in each year as disclosed in the annual report, against $704M of cash and investments now.

Where the cash came from and went

Burlington Stores: sources (+) and uses (−) of cash, Q2 FY27Burlington Stores: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$273MCapital spending−$244MBuybacks−$88.0MCash drawn (+) / kept (−)$43.7MShares issued$25.1MOther financing−$5.2MOther investing−$4.4MNet borrowing (+) / repaid (−)−$621K
Burlington Stores: sources (+) and uses (−) of cash, TTM to Q2 FY27Burlington Stores: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$1.4BCapital spending−$1.0BBuybacks−$346MNet borrowing (+) / repaid (−)−$131MShares issued$53.1MCash drawn (+) / kept (−)$43.9MOther financing−$24.3MOther investing−$8.4M

From profit to cash

Burlington Stores: net income to operating cash flow, Q2 FY27Burlington Stores: net income to operating cash flow, Q2 FY27Net income$184MDepreciation & amortization$114MStock-based pay$32.1MDeferred taxes$15.6MImpairments$3.6MReceivables−$14.2MInventory−$97.1MPayables$59.0MPrepaid and other assets−$17.8MOther liabilities−$11.5MOther operating capital$550KOperating cash flow$273M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY274846127
Q1 FY273795923
Q4 FY263664721
Q3 FY264936532
Q2 FY264825827
Q1 FY264836323
Q4 FY253665216
Q3 FY254856821

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$273M−$244M−$88.0M−$621K$25.1M$43.7M$29.5M
Q1 FY27$61.5M−$289M−$134M−$129M$11.2M$485M−$227M
Q4 FY26$938M−$218M−$60.2M−$394K$1.6M−$648M$720M
Q3 FY26$143M−$253M−$63.3M−$563K$15.3M$164M−$110M
Q2 FY26$179M−$180M−$27.3M−$544K$5.7M−$377M−$101K
Q1 FY26−$28.9M−$410M−$128M−$157M$2.8M$624M−$439M
Q4 FY25$543M−$353M−$62.1M−$525K$3.1M−$137M$190M
Q3 FY25$110M−$167M−$56.5M−$518K$4.7M−$198M−$56.2M

Burlington Stores: income statement and cash flow

Burlington Stores, Q2 FY27: revenue $3.0B (+11% year over year), operating margin 8.1%. The chart follows the revenue to costs, profit and cash.

Burlington Stores: 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.