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Crown Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$299M in Q3 2026 · $1.0B over twelve months

Operating cash flow$406M
Capital spending−$107M
Free cash flow+$299M
Cash / net income1.6×
Cash conversion cycle10 days

Analysis

In Q3 2026, Crown Holdings generated $406M of operating cash flow and spent $107M on capital projects, leaving free cash flow of $299M. That is $189M less than in Q3 2025 ($488M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.6B; the largest uses were buybacks ($789M), capital spending ($542M), net borrowing (+) / repaid (−) ($431M); besides operations, cash came from asset & business sales ($42.0M); the cash balance fell by $516M.

Operating cash flow was $406M against net income of $261M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$115M, stock-based pay +$11.0M.

Its cash conversion cycle was 10 days (receivables 51 + inventory 56 − payables 97).

Free cash flow

Crown Holdings: free cash flow by quarterCrown Holdings: free cash flow by quarter$146MQ4 2024−$19.0MQ1 2025$393MQ2 2025$488MQ3 2025$255MQ4 2025−$141MQ1 2026$597MQ2 2026$299MQ3 2026
Operating cash flow less capital spending.
Crown Holdings: operating cash flow against capital spendingCrown Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$295M$149MQ4 2024$14.0M$33.0MQ1 2025$449M$56.0MQ2 2025$580M$92.0MQ3 2025$487M$232MQ4 2025−$54.0M$87.0MQ1 2026$713M$116MQ2 2026$406M$107MQ3 2026
Latest (Q3 2026): Operating cash flow $406M, Capital spending $107M.

Capital allocation, year by year

Crown Holdings: where the cash came from (up) and went (down), by fiscal yearCrown Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $905MFY2021: Net borrowing −$1.8BFY2021: Shares issued $2.0MFY2021: Asset sales $2.3BFY2021: Capital spending −$816MFY2021: Buybacks −$950MFY2021: Dividends −$105M$3.2BFY2021FY2022: Operating cash flow $803MFY2022: Net borrowing $1.2BFY2022: Asset sales $197MFY2022: Capital spending −$839MFY2022: Acquisitions −$31.0MFY2022: Buybacks −$722MFY2022: Dividends −$106M$2.2BFY2022FY2023: Operating cash flow $1.5BFY2023: Net borrowing −$14.0MFY2023: Asset sales $17.0MFY2023: Capital spending −$793MFY2023: Acquisitions −$126MFY2023: Buybacks −$12.0MFY2023: Dividends −$115M$1.5BFY2023FY2024: Operating cash flow $1.2BFY2024: Net borrowing −$1.1BFY2024: Asset sales $28.0MFY2024: Capital spending −$403MFY2024: Buybacks −$217MFY2024: Dividends −$119M$1.2BFY2024FY2025: Operating cash flow $1.5BFY2025: Net borrowing −$624MFY2025: Asset sales $36.0MFY2025: Capital spending −$413MFY2025: Buybacks −$505MFY2025: Dividends −$120M$1.6BFY2025
Over these 5 years operating cash flow totalled $5.9B; the largest uses were net borrowing ($3.5B) and capital spending ($3.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$629M
Debt$5.9B
Net debt$5.2B
Due within a year$480M

Crown Holdings funds itself: free cash flow was $1.0B over the last twelve months, and $629M of cash and investments stands against $5.9B of debt ($480M due within a year, 1.3× covered by cash).

Crown Holdings: debt maturities by year (FY2025)Crown Holdings: debt maturities by year (FY2025)$480MYear 1$1.7BYear 2$587MYear 3$587MYear 4$1.2BYear 5
Principal due in each year as disclosed in the annual report, against $629M of cash and investments now.

Where the cash came from and went

Crown Holdings: sources (+) and uses (−) of cash, Q3 2026Crown Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$406MNet borrowing (+) / repaid (−)−$191MCapital spending−$107MBuybacks−$81.0MDividends−$38.0MCash drawn (+) / kept (−)$17.0MPartners−$10.0MExchange rates$10.0MOther financing−$6.0M
Crown Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Crown Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.6BBuybacks−$789MCapital spending−$542MCash drawn (+) / kept (−)$516MNet borrowing (+) / repaid (−)−$431MDividends−$145MPartners−$107MOther financing−$97.0MAsset & business sales$42.0MExchange rates$1.0M

From profit to cash

Crown Holdings: net income to operating cash flow, Q3 2026Crown Holdings: net income to operating cash flow, Q3 2026Net income$261MDepreciation & amortization$115MStock-based pay$11.0MOperating cash flow$406M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202651569710
Q2 202649548915
Q1 2026295691-5
Q4 202552609715
Q3 202552619418
Q2 202552599020
Q1 202552599417
Q4 2024516110012

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$406M−$107M−$81.0M−$38.0M−$191M$17.0M$299M
Q2 2026$713M−$116M−$305M−$38.0M−$165M−$84.0M$597M
Q1 2026−$54.0M−$87.0M−$212M−$39.0M$346M$184M−$141M
Q4 2025$487M−$232M−$191M−$30.0M−$421M$399M$255M
Q3 2025$580M−$92.0M−$105M−$30.0M−$89.0M−$240M$488M
Q2 2025$449M−$56.0M−$6.0M−$30.0M−$191M−$159M$393M
Q1 2025$14.0M−$33.0M−$203M−$30.0M$108M$137M−$19.0M
Q4 2024$295M−$149M−$100M−$29.0M−$1.1B$817M$146M

Crown Holdings: income statement and cash flow

Crown Holdings, Q3 2026: revenue $3.7B (+16% year over year), operating margin 11.9%. The chart follows the revenue to costs, profit and cash.

Crown Holdings: 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.