Latest: Q3 2026 · from the cash-flow statements filed with the SEC
Free cash flow$195M in Q3 2026
Operating cash flow$320M
Capital spending−$125M
Free cash flow+$195M
Cash / net income1.4×
Analysis
In Q3 2026, Borgwarner generated $320M of operating cash flow and spent $125M on capital projects, leaving free cash flow of $195M. That is $62.0M less than in Q3 2025 ($257M).
Operating cash flow was $320M against net income of $233M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$153M, payables −$67.0M, inventory −$57.0M.
Free cash flow
Operating cash flow less capital spending.Latest (Q3 2026): Operating cash flow $320M, Capital spending $125M.
Capital allocation, year by year
Over these 5 years operating cash flow totalled $7.3B; the largest uses were capital spending ($3.1B) and buybacks ($1.3B). Cash-flow statements as filed.
Cash runway and the debt wall
Cash & investments$1.6B
Debt$3.0B
Net debt$1.4B
Due within a year$5.0M
Borgwarner funds itself: free cash flow was — over the last twelve months, and $1.6B of cash and investments stands against $3.0B of debt ($5.0M due within a year, 316.6× covered by cash).
Principal due in each year as disclosed in the annual report, against $1.6B of cash and investments now.
Where the cash came from and went
From profit to cash
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
Every quarter
Quarter
Operating cash flow
Capital spending
Buybacks
Dividends
Net borrowing (+) / repaid (−)
Cash drawn (+) / kept (−)
Free cash flow
Q3 2026
$320M
−$125M
−$175M
−$35.0M
−$861M
$865M
$195M
Q2 2026
$586M
−$96.0M
−$100M
−$34.0M
−$1.0M
−$338M
$490M
Q1 2026
$152M
−$143M
−$150M
−$35.0M
−$2.0M
$203M
$9.0M
Q4 2025
$619M
−$162M
−$298M
−$35.0M
−$3.0M
−$141M
$457M
Q3 2025
$368M
−$111M
−$102M
−$36.0M
−$3.0M
−$131M
$257M
Q2 2025
$579M
−$77.0M
−$108M
−$24.0M
−$57.0M
−$334M
$502M
Q1 2025
$82.0M
−$119M
—
−$24.0M
−$346M
$387M
−$37.0M
Q4 2024
$682M
−$161M
−$1.0M
−$24.0M
−$342M
−$94.0M
$521M
Borgwarner: income statement and cash flow
Borgwarner, Q3 2026: revenue $3.5B (-3% year over year), operating margin 8.7%. The chart follows the revenue to costs, profit and cash.
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.