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Cadre Holdings cash flow, quarter by quarter

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

Free cash flow$19.9M in Q3 2026 · $76.4M over twelve months

Operating cash flow$22.9M
Capital spending−$3.1M
Free cash flow+$19.9M
Cash / net income1.4×
Cash conversion cycle131 days

Analysis

In Q3 2026, Cadre Holdings generated $22.9M of operating cash flow and spent $3.1M on capital projects, leaving free cash flow of $19.9M. That is $1.8M less than in Q3 2025 ($21.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $88.8M; the largest uses were acquisitions ($165M), taxes on employees’ shares ($40.3M), dividends ($16.7M); besides operations, cash came from net borrowing (+) / repaid (−) ($57.4M), other financing ($6.0M); the cash balance fell by $83.2M.

Operating cash flow was $22.9M against net income of $16.0M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: payables −$10.0M, depreciation & amortization +$6.4M, stock-based pay +$5.1M.

Its cash conversion cycle was 131 days (receivables 58 + inventory 103 − payables 30).

Free cash flow

Cadre Holdings: free cash flow by quarterCadre Holdings: free cash flow by quarter$22.4MQ4 2024$16.1MQ1 2025$1.2MQ2 2025$21.6MQ3 2025$18.0MQ4 2025$19.8MQ1 2026$18.7MQ2 2026$19.9MQ3 2026
Operating cash flow less capital spending.
Cadre Holdings: operating cash flow against capital spendingCadre Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$23.7M$1.3MQ4 2024$17.4M$1.3MQ1 2025$2.6M$1.4MQ2 2025$22.5M$849KQ3 2025$21.2M$3.3MQ4 2025$22.5M$2.7MQ1 2026$22.1M$3.5MQ2 2026$22.9M$3.1MQ3 2026
Latest (Q3 2026): Operating cash flow $22.9M, Capital spending $3.1M.

Capital allocation, year by year

Cadre Holdings: where the cash came from (up) and went (down), by fiscal yearCadre Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $40.1MFY2021: Net borrowing −$68.0MFY2021: Shares issued $83.4MFY2021: Capital spending −$2.8MFY2021: Dividends −$12.8M$124MFY2021FY2022: Operating cash flow $46.4MFY2022: Net borrowing −$10.1MFY2022: Shares issued $56.3MFY2022: Asset sales $411KFY2022: Capital spending −$4.5MFY2022: Acquisitions −$55.5MFY2022: Dividends −$11.5M$103MFY2022FY2023: Operating cash flow $73.2MFY2023: Net borrowing −$10.0MFY2023: Asset sales $207KFY2023: Capital spending −$6.7MFY2023: Dividends −$12.0M$73.4MFY2023FY2024: Operating cash flow $31.8MFY2024: Net borrowing $80.6MFY2024: Shares issued $91.8MFY2024: Asset sales $55KFY2024: Capital spending −$5.7MFY2024: Acquisitions −$142MFY2024: Dividends −$13.9M$204MFY2024FY2025: Operating cash flow $63.7MFY2025: Net borrowing $83.4MFY2025: Shares issued $3.4MFY2025: Asset sales $77KFY2025: Capital spending −$6.9MFY2025: Acquisitions −$89.6MFY2025: Dividends −$15.4M$151MFY2025
Over these 5 years operating cash flow totalled $255M; the largest uses were acquisitions ($287M) and net borrowing ($88.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$63.9M
Debt$369M
Net debt$306M
Due within a year$16.3M

Cadre Holdings funds itself: free cash flow was $76.4M over the last twelve months, and $63.9M of cash and investments stands against $369M of debt ($16.3M due within a year, 3.9× covered by cash).

Cadre Holdings: debt maturities by year (FY2025)Cadre Holdings: debt maturities by year (FY2025)$16.3MYear 1$16.3MYear 2$16.1MYear 3$260MYear 4
Principal due in each year as disclosed in the annual report, against $63.9M of cash and investments now.

Where the cash came from and went

Cadre Holdings: sources (+) and uses (−) of cash, Q3 2026Cadre Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$22.9MCash drawn (+) / kept (−)−$10.0MNet borrowing (+) / repaid (−)−$5.1MDividends−$4.3MCapital spending−$3.1MOther financing$2.2MExchange rates−$1.1MAcquisitions−$916KOther investing−$650K
Cadre Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Cadre Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$165MOperating cash flow$88.8MCash drawn (+) / kept (−)$83.2MNet borrowing (+) / repaid (−)$57.4MTaxes on employees’ shares−$40.3MDividends−$16.7MCapital spending−$12.5MOther financing$6.0MOther investing−$579KExchange rates−$532K

From profit to cash

Cadre Holdings: net income to operating cash flow, Q3 2026Cadre Holdings: net income to operating cash flow, Q3 2026Net income$16.0MDepreciation & amortization$6.4MStock-based pay$5.1MDeferred taxes$265KReceivables$1.1MInventory$1.9MPayables−$10.0MPrepaid and other assets−$295KOperating cash flow$22.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265810330131
Q2 2026539930121
Q1 20266410929144
Q4 20255810324137
Q3 20256111430145
Q2 2025559931123
Q1 20256110638129
Q4 2024438527101

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$22.9M−$3.1M−$916K−$4.3M−$5.1M−$10.0M$19.9M
Q2 2026$22.1M−$3.5M−$10.3M−$4.3M$15.8M−$14.0M$18.7M
Q1 2026$22.5M−$2.7M−$154M−$4.3M$58.4M$81.7M$19.8M
Q4 2025$21.2M−$3.3M—−$3.9M—$25.5M$18.0M
Q3 2025$22.5M−$849K—−$3.9M−$4.1M−$13.4M$21.6M
Q2 2025$2.6M−$1.4M—−$3.9M−$2.9M−$4.0M$1.2M
Q1 2025$17.4M−$1.3M—−$3.9M−$2.8M−$8.5M$16.1M
Q4 2024$23.7M−$1.3M—−$3.6M$15.7M−$31.9M$22.4M

Cadre Holdings: income statement and cash flow

Cadre Holdings, Q3 2026: revenue $203M (+30% year over year), operating margin 14.0%. The chart follows the revenue to costs, profit and cash.

Cadre 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.