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CBL & Associates Properties cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$80.3M in Q2 2026 · $283M over twelve months

Operating cash flow$80.3M
Free cash flow+$80.3M
Cash / net income1.7×

Analysis

In Q2 2026, CBL & Associates Properties generated $80.3M of operating cash flow. That is $12.0M more than in Q2 2025 ($68.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was $283M; the largest uses were real estate bought ($224M), dividends ($66.3M), other investing ($49.6M); besides operations, cash came from asset & business sales ($112M); the cash balance fell by $1.9M.

Operating cash flow was $80.3M against net income of $46.3M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$36.3M, payables +$17.0M, gains on investments −$5.9M.

Free cash flow

CBL & Associates Properties: free cash flow by quarterCBL & Associates Properties: free cash flow by quarter$46.0MQ3 2024$46.2MQ4 2024$31.7MQ1 2025$68.3MQ2 2025$69.6MQ3 2025$80.2MQ4 2025$52.9MQ1 2026$80.3MQ2 2026
Operating cash flow less capital spending.
CBL & Associates Properties: operating cash flow against capital spendingCBL & Associates Properties: operating cash flow against capital spendingOperating cash flowCapital spending$61.1M$15.1MQ3 2024$46.2M$0Q4 2024$31.7M$0Q1 2025$68.3M$0Q2 2025$69.6M$0Q3 2025$80.2M$0Q4 2025$52.9M$0Q1 2026$80.3M$0Q2 2026
Latest (Q2 2026): Operating cash flow $80.3M, Capital spending $0.

Capital allocation, year by year

CBL & Associates Properties: where the cash came from (up) and went (down), by fiscal yearCBL & Associates Properties: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2020: Operating cash flow $133MFY2020: Net borrowing $211MFY2020: Shares issued $5KFY2020: Asset sales $7.8MFY2020: Capital spending −$42.1M$352MFY2020FY2022: Operating cash flow $208MFY2022: Net borrowing −$69.2MFY2022: Asset sales $9.6MFY2022: Capital spending −$42.9MFY2022: Dividends −$23.9M$218MFY2022FY2023: Operating cash flow $184MFY2023: Net borrowing −$79.0MFY2023: Asset sales $9.8MFY2023: Capital spending −$42.3MFY2023: Buybacks −$1.1MFY2023: Dividends −$118M$193MFY2023FY2024: Operating cash flow $202MFY2024: Net borrowing −$146MFY2024: Asset sales $79.4MFY2024: Buybacks −$36.5MFY2024: Dividends −$50.4M$282MFY2024FY2025: Operating cash flow $250MFY2025: Net borrowing −$31.3MFY2025: Asset sales $169MFY2025: Buybacks −$18.1MFY2025: Dividends −$77.1M$419MFY2025
Over these 5 years operating cash flow totalled $977M; the largest uses were net borrowing ($326M) and dividends ($269M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$101M
Debt$2.0B
Net debt$1.9B
Due within a year$1.3B

CBL & Associates Properties funds itself: free cash flow was $283M over the last twelve months, and $101M of cash and investments stands against $2.0B of debt ($1.3B due within a year, 0.1× covered by cash).

CBL & Associates Properties: debt maturities by year (FY2025)CBL & Associates Properties: debt maturities by year (FY2025)$1.3BYear 1$11KYear 2$135MYear 3$7.9MYear 4$740MYear 5$59.8MAfter year 5
Principal due in each year as disclosed in the annual report, against $101M of cash and investments now.

Where the cash came from and went

CBL & Associates Properties: sources (+) and uses (−) of cash, Q2 2026CBL & Associates Properties: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$80.3MOther investing−$50.6MNet borrowing (+) / repaid (−)−$29.0MDividends−$24.8MAsset & business sales$18.9MCash drawn (+) / kept (−)$10.1MOther financing−$4.9MPartners−$12K
CBL & Associates Properties: sources (+) and uses (−) of cash, TTM to Q2 2026CBL & Associates Properties: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$283MReal estate bought−$224MAsset & business sales$112MDividends−$66.3MOther investing−$49.6MOther financing−$25.8MBuybacks−$19.4MTaxes on employees’ shares−$6.9MNet borrowing (+) / repaid (−)−$4.5MCash drawn (+) / kept (−)$1.9MPartners−$290K

From profit to cash

CBL & Associates Properties: net income to operating cash flow, Q2 2026CBL & Associates Properties: net income to operating cash flow, Q2 2026Net income$46.3MDepreciation & amortization$36.3MStock-based pay$2.5MDeferred taxes−$827KGains on investments−$5.9MReceivables−$4.0MPayables$17.0MPrepaid and other assets−$1.7MOperating cash flow$80.3M
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
Q2 2026$80.3M——−$24.8M−$29.0M$10.1M$80.3M
Q1 2026$52.9M—−$1.3M−$13.9M−$37.9M−$59.8M$52.9M
Q4 2025$80.2M—−$13.9M−$13.7M−$18.7M$9.0M$80.2M
Q3 2025$69.6M—−$4.2M−$13.9M$81.1M$42.5M$69.6M
Q2 2025$68.3M——−$12.4M−$20.9M−$81.3M$68.3M
Q1 2025$31.7M——−$37.1M−$72.8M$30.7M$31.7M
Q4 2024$46.2M—−$12.5M−$12.3M−$14.3M−$12.3M$46.2M
Q3 2024$61.1M−$15.1M−$7.9M−$12.5M−$85.0M−$230K$46.0M

CBL & Associates Properties: income statement and cash flow

CBL & Associates Properties, Q3 2026: revenue $149M (+7% year over year), operating margin 8.0%. The chart follows the revenue to costs, profit and cash.

CBL & Associates Properties: 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.