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Cal-Maine Foods cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$128M in Q1 FY27 · −$32.8M over twelve months

Operating cash flow−$101M
Capital spending−$26.6M
Free cash flow−$128M
Cash conversion cycle76 days

Analysis

In Q1 FY27, Cal-Maine Foods generated −$101M of operating cash flow and spent $26.6M on capital projects, leaving free cash flow of −$128M.

Over the twelve months to Aug 29, 2026, operating cash flow was $99.8M; the largest uses were acquisitions ($153M), other financing ($136M), capital spending ($133M); besides operations, cash came from other investing ($301M), asset & business sales ($308K); the cash balance fell by $137M.

Operating cash flow was −$101M against net income of −$56.2M. The largest differences: depreciation & amortization +$33.5M, deferred taxes −$18.0M, gains on disposals +$916K.

Its cash conversion cycle was 76 days (receivables 28 + inventory 65 − payables 17).

Free cash flow

Cal-Maine Foods: free cash flow by quarterCal-Maine Foods: free cash flow by quarter$92.9MQ2 FY25$522MQ3 FY25$367MQ4 FY25$233MQ1 FY26$47.9MQ2 FY26$72.0MQ3 FY26−$24.7MQ4 FY26−$128MQ1 FY27
Operating cash flow less capital spending.
Cal-Maine Foods: operating cash flow against capital spendingCal-Maine Foods: operating cash flow against capital spendingOperating cash flowCapital spending$123M$29.8MQ2 FY25$572M$49.8MQ3 FY25$413M$45.9MQ4 FY25$279M$45.3MQ1 FY26$94.8M$46.8MQ2 FY26$104M$31.6MQ3 FY26$2.8M$27.5MQ4 FY26−$101M$26.6MQ1 FY27
Latest (Q1 FY27): Operating cash flow −$101M, Capital spending $26.6M.

Capital allocation, year by year

Cal-Maine Foods: where the cash came from (up) and went (down), by fiscal yearCal-Maine Foods: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsDividendsFY22: Operating cash flow $126MFY22: Net borrowing −$215KFY22: Asset sales $686KFY22: Capital spending −$72.4MFY22: Acquisitions −$44.8MFY22: Dividends −$6.1M$127MFY22FY23: Operating cash flow $863MFY23: Net borrowing −$224KFY23: Asset sales $580KFY23: Capital spending −$137MFY23: Dividends −$252M$864MFY23FY24: Operating cash flow $451MFY24: Net borrowing −$214KFY24: Asset sales $272KFY24: Capital spending −$147MFY24: Acquisitions −$53.7MFY24: Dividends −$91.9M$452MFY24FY25: Operating cash flow $1.2BFY25: Net borrowing −$2.5MFY25: Asset sales $3.9MFY25: Capital spending −$161MFY25: Acquisitions −$116MFY25: Dividends −$330M$1.2BFY25FY26: Operating cash flow $480MFY26: Asset sales $328KFY26: Capital spending −$151MFY26: Acquisitions −$428MFY26: Dividends −$232M$480MFY26
Over these 5 years operating cash flow totalled $3.1B; the largest uses were dividends ($912M) and capital spending ($669M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$768M
Debtnone
Net cash$768M

Cal-Maine Foods's operations bring cash in ($99.8M over twelve months), and it spends more than that on capital projects: a gap of $32.8M funded from its $768M of cash and investments and from borrowing. That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Cal-Maine Foods: sources (+) and uses (−) of cash, Q1 FY27Cal-Maine Foods: sources (+) and uses (−) of cash, Q1 FY27Other investing$137MOperating cash flow−$101MCapital spending−$26.6MOther financing−$5.1MCash drawn (+) / kept (−)−$4.2MAsset & business sales$29K
Cal-Maine Foods: sources (+) and uses (−) of cash, TTM to Q1 FY27Cal-Maine Foods: sources (+) and uses (−) of cash, TTM to Q1 FY27Other investing$301MAcquisitions−$153MCash drawn (+) / kept (−)$137MOther financing−$136MCapital spending−$133MDividends−$117MOperating cash flow$99.8MAsset & business sales$308K

From profit to cash

Cal-Maine Foods: net income to operating cash flow, Q1 FY27Cal-Maine Foods: net income to operating cash flow, Q1 FY27Net income−$56.2MDepreciation & amortization$33.5MDeferred taxes−$18.0MGains on disposals$916KOperating cash flow−$101M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2728651776
Q4 FY2628641874
Q3 FY2629571967
Q2 FY2628541964
Q1 FY2624461655
Q4 FY2527482254
Q3 FY2523391944
Q2 FY2528451954

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27−$101M−$26.6M———−$4.2M−$128M
Q4 FY26$2.8M−$27.5M−$129M−$16.8M—$282M−$24.7M
Q3 FY26$104M−$31.6M—−$34.3M—−$22.7M$72.0M
Q2 FY26$94.8M−$46.8M−$23.7M−$66.4M—−$117M$47.9M
Q1 FY26$279M−$45.3M−$275M−$114M—$245M$233M
Q4 FY25$413M−$45.9M—−$169M—−$3.2M$367M
Q3 FY25$572M−$49.8M−$4.7M−$73.0M−$4K−$357M$522M
Q2 FY25$123M−$29.8M—−$50.0M—$41.4M$92.9M

Cal-Maine Foods: income statement and cash flow

Cal-Maine Foods, Q1 FY27: revenue $540M (-42% year over year), operating margin -15.2%. The chart follows the revenue to costs, profit and cash.

Cal-Maine Foods: 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.