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Borgwarner cash flow, quarter by quarter

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

Borgwarner: free cash flow by quarterBorgwarner: free cash flow by quarter$521MQ4 2024−$37.0MQ1 2025$502MQ2 2025$257MQ3 2025$457MQ4 2025$9.0MQ1 2026$490MQ2 2026$195MQ3 2026
Operating cash flow less capital spending.
Borgwarner: operating cash flow against capital spendingBorgwarner: operating cash flow against capital spendingOperating cash flowCapital spending$682M$161MQ4 2024$82.0M$119MQ1 2025$579M$77.0MQ2 2025$368M$111MQ3 2025$619M$162MQ4 2025$152M$143MQ1 2026$586M$96.0MQ2 2026$320M$125MQ3 2026
Latest (Q3 2026): Operating cash flow $320M, Capital spending $125M.

Capital allocation, year by year

Borgwarner: where the cash came from (up) and went (down), by fiscal yearBorgwarner: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.3BFY2021: Net borrowing $587MFY2021: Asset sales $30.0MFY2021: Capital spending −$514MFY2021: Acquisitions −$759MFY2021: Dividends −$162M$1.9BFY2021FY2022: Operating cash flow $1.6BFY2022: Net borrowing −$8.0MFY2022: Asset sales $47.0MFY2022: Capital spending −$622MFY2022: Acquisitions −$312MFY2022: Buybacks −$240MFY2022: Dividends −$161M$1.6BFY2022FY2023: Operating cash flow $1.4BFY2023: Net borrowing −$433MFY2023: Asset sales $39.0MFY2023: Capital spending −$832MFY2023: Acquisitions −$109MFY2023: Buybacks −$177MFY2023: Dividends −$130M$1.4BFY2023FY2024: Operating cash flow $1.4BFY2024: Net borrowing $483MFY2024: Asset sales $12.0MFY2024: Capital spending −$671MFY2024: Buybacks −$402MFY2024: Dividends −$98.0M$1.9BFY2024FY2025: Operating cash flow $1.6BFY2025: Net borrowing −$409MFY2025: Asset sales $50.0MFY2025: Capital spending −$469MFY2025: Buybacks −$508MFY2025: Dividends −$119M$1.7BFY2025
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).

Borgwarner: debt maturities by year (FY2025)Borgwarner: debt maturities by year (FY2025)$5.0MYear 1$1.1BYear 2$5.0MYear 3$633MYear 4$2.0MYear 5$2.2BAfter year 5
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

Borgwarner: sources (+) and uses (−) of cash, Q3 2026Borgwarner: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$865MNet borrowing (+) / repaid (−)−$861MOperating cash flow$320MBuybacks−$175MCapital spending−$125MDividends−$35.0MOther investing$9.0MExchange rates$8.0MTaxes on employees’ shares−$6.0MPartners−$3.0MOther financing$2.0MAsset & business sales$1.0M

From profit to cash

Borgwarner: net income to operating cash flow, Q3 2026Borgwarner: net income to operating cash flow, Q3 2026Net income$233MDepreciation & amortization$153MReceivables$5.0MInventory−$57.0MPayables−$67.0MPrepaid and other assets−$9.0MIncome taxes payable−$26.0MOther operating capital$42.0MOperating cash flow$320M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet 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.

Borgwarner: 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.