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Pathward Financial cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$48.6M in Q3 FY26 · $684M over twelve months

Operating cash flow$52.0M
Capital spending−$3.4M
Free cash flow+$48.6M
Cash / net income1.8×

Analysis

In Q3 FY26, Pathward Financial generated $52.0M of operating cash flow and spent $3.4M on capital projects, leaving free cash flow of $48.6M. That is $20.9M more than in Q3 FY25 ($27.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was $697M; the largest uses were other investing ($616M), taxes on employees’ shares ($167M), capital spending ($13.3M); besides operations, cash came from partners ($203K), shares issued ($1K); the cash balance fell by $109M.

Operating cash flow was $52.0M against net income of $29.2M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities −$37.7M, prepaid and other assets +$23.2M, depreciation & amortization +$10.8M.

Free cash flow

Pathward Financial: free cash flow by quarterPathward Financial: free cash flow by quarter$139MQ4 FY24−$73.8MQ1 FY25$185MQ2 FY25$27.7MQ3 FY25$300MQ4 FY25$104MQ1 FY26$231MQ2 FY26$48.6MQ3 FY26
Operating cash flow less capital spending.
Pathward Financial: operating cash flow against capital spendingPathward Financial: operating cash flow against capital spendingOperating cash flowCapital spending$143M$4.4MQ4 FY24−$71.7M$2.1MQ1 FY25$188M$3.6MQ2 FY25$30.4M$2.7MQ3 FY25$304M$3.3MQ4 FY25$108M$4.2MQ1 FY26$233M$2.3MQ2 FY26$52.0M$3.4MQ3 FY26
Latest (Q3 FY26): Operating cash flow $52.0M, Capital spending $3.4M.

Capital allocation, year by year

Pathward Financial: where the cash came from (up) and went (down), by fiscal yearPathward Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY21: Operating cash flow $582MFY21: Net borrowing −$32KFY21: Asset sales $86KFY21: Capital spending −$13.0MFY21: Dividends −$6.4M$582MFY21FY22: Operating cash flow $290MFY22: Net borrowing −$55.1MFY22: Asset sales $35KFY22: Capital spending −$8.2MFY22: Dividends −$5.9M$290MFY22FY23: Operating cash flow $328MFY23: Shares issued $1KFY23: Capital spending −$8.6MFY23: Dividends −$5.4M$328MFY23FY24: Operating cash flow $489MFY24: Shares issued $3KFY24: Capital spending −$10.1MFY24: Dividends −$5.1M$489MFY24FY25: Operating cash flow $451MFY25: Asset sales $608MFY25: Capital spending −$11.7MFY25: Dividends −$4.7M$1.1BFY25
Over these 5 years operating cash flow totalled $2.1B; the largest uses were net borrowing ($55.1M) and capital spending ($51.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$149M
Debt$201M
Net debt$51.6M

Pathward Financial funds itself: free cash flow was $684M over the last twelve months, and $149M of cash and investments stands against $201M of debt.

Where the cash came from and went

Pathward Financial: sources (+) and uses (−) of cash, Q3 FY26Pathward Financial: sources (+) and uses (−) of cash, Q3 FY26Other investing−$267MOther financing$240MOperating cash flow$52.0MTaxes on employees’ shares−$28.3MCash drawn (+) / kept (−)$8.2MCapital spending−$3.4MExchange rates−$1.7MDividends−$1.1MPartners$847K
Pathward Financial: sources (+) and uses (−) of cash, TTM to Q3 FY26Pathward Financial: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$697MOther investing−$616MTaxes on employees’ shares−$167MCash drawn (+) / kept (−)$109MCapital spending−$13.3MDividends−$4.4MExchange rates−$3.3MOther financing−$2.4MPartners$203KShares issued$1K

From profit to cash

Pathward Financial: net income to operating cash flow, Q3 FY26Pathward Financial: net income to operating cash flow, Q3 FY26Net income$29.2MDepreciation & amortization$10.8MStock-based pay$2.6MImpairments$177KAccrued liabilities−$37.7MPrepaid and other assets$23.2MOperating cash flow$52.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$52.0M−$3.4M−$1.1M—$8.2M$48.6M
Q2 FY26$233M−$2.3M−$1.1M—$174M$231M
Q1 FY26$108M−$4.2M−$1.1M$1K−$211M$104M
Q4 FY25$304M−$3.3M−$1.1M—$138M$300M
Q3 FY25$30.4M−$2.7M−$1.1M—−$4.1M$27.7M
Q2 FY25$188M−$3.6M−$1.2M—$343M$185M
Q1 FY25−$71.7M−$2.1M−$1.2M—−$439M−$73.8M
Q4 FY24$143M−$4.4M−$1.2M—$141M$139M

Pathward Financial: income statement and cash flow

Pathward Financial, Q3 FY26: revenue $190M (-3% year over year), operating margin 17.0%. The chart follows the revenue to costs, profit and cash.

Pathward Financial: 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.