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Celanese cash flow, quarter by quarter

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

Free cash flow$469M in Q3 2026 · $794M over twelve months

Operating cash flow$538M
Capital spending−$69.0M
Free cash flow+$469M
Cash / net income6.9×
Cash conversion cycle81 days

Analysis

In Q3 2026, Celanese generated $538M of operating cash flow and spent $69.0M on capital projects, leaving free cash flow of $469M. That is $86.0M more than in Q3 2025 ($383M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.1B; the largest uses were net borrowing (+) / repaid (−) ($1.2B), capital spending ($281M), other financing ($70.0M); besides operations, cash came from other investing ($473M); the cash balance fell by $78.0M.

Operating cash flow was $538M against net income of $78.0M — 6.9× profit, cash ran ahead of reported earnings. The largest differences: receivables +$335M, depreciation & amortization +$216M, payables −$178M.

Its cash conversion cycle was 81 days (receivables 40 + inventory 105 − payables 64).

Free cash flow

Celanese: free cash flow by quarterCelanese: free cash flow by quarter$389MQ4 2024−$65.0MQ1 2025$317MQ2 2025$383MQ3 2025$168MQ4 2025$10.0MQ1 2026$147MQ2 2026$469MQ3 2026
Operating cash flow less capital spending.
Celanese: operating cash flow against capital spendingCelanese: operating cash flow against capital spendingOperating cash flowCapital spending$494M$105MQ4 2024$37.0M$102MQ1 2025$410M$93.0MQ2 2025$447M$64.0MQ3 2025$252M$84.0MQ4 2025$76.0M$66.0MQ1 2026$209M$62.0MQ2 2026$538M$69.0MQ3 2026
Latest (Q3 2026): Operating cash flow $538M, Capital spending $69.0M.

Capital allocation, year by year

Celanese: where the cash came from (up) and went (down), by fiscal yearCelanese: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.8BFY2021: Net borrowing $375MFY2021: Asset sales $27.0MFY2021: Capital spending −$467MFY2021: Acquisitions −$1.1BFY2021: Buybacks −$1.0BFY2021: Dividends −$304M$2.2BFY2021FY2022: Operating cash flow $1.8BFY2022: Net borrowing $10.7BFY2022: Asset sales $48.0MFY2022: Capital spending −$543MFY2022: Acquisitions −$10.6BFY2022: Buybacks −$17.0MFY2022: Dividends −$297M$12.6BFY2022FY2023: Operating cash flow $1.9BFY2023: Net borrowing −$1.1BFY2023: Asset sales $480MFY2023: Capital spending −$568MFY2023: Acquisitions $52.0MFY2023: Dividends −$305M$2.4BFY2023FY2024: Operating cash flow $966MFY2024: Net borrowing −$948MFY2024: Shares issued $1.0MFY2024: Capital spending −$435MFY2024: Dividends −$307M$967MFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing −$323MFY2025: Capital spending −$343MFY2025: Dividends −$13.0M$1.1BFY2025
Over these 5 years operating cash flow totalled $7.6B; the largest uses were acquisitions ($11.7B) and net borrowing ($2.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.4B
Debt$11.5B
Net debt$10.2B
Due within a year$1.2B

Celanese funds itself: free cash flow was $794M over the last twelve months, and $1.4B of cash and investments stands against $11.5B of debt ($1.2B due within a year, 1.1× covered by cash).

Celanese: debt maturities by year (FY2025)Celanese: debt maturities by year (FY2025)$1.2BYear 1$1.4BYear 2$1.6BYear 3$1.4BYear 4$1.8BYear 5$5.4BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.4B of cash and investments now.

Where the cash came from and went

Celanese: sources (+) and uses (−) of cash, Q3 2026Celanese: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$538MNet borrowing (+) / repaid (−)−$468MCapital spending−$69.0MExchange rates$10.0MPartners−$8.0MDividends−$4.0MCash drawn (+) / kept (−)$2.0MOther investing−$1.0M
Celanese: sources (+) and uses (−) of cash, TTM to Q3 2026Celanese: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$1.2BOperating cash flow$1.1BOther investing$473MCapital spending−$281MCash drawn (+) / kept (−)$78.0MOther financing−$70.0MPartners−$30.0MDividends−$14.0MExchange rates$8.0M

From profit to cash

Celanese: net income to operating cash flow, Q3 2026Celanese: net income to operating cash flow, Q3 2026Net income$78.0MDepreciation & amortization$216MStock-based pay$8.0MGains on disposals$4.0MReceivables$335MInventory$28.0MPayables−$178MPrepaid and other assets$47.0MOther liabilities$79.0MOperating cash flow$538M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026401056481
Q2 202639986275
Q1 2026391086582
Q4 2025411146590
Q3 2025431096191
Q2 2025441055990
Q1 2025441086093
Q4 20244912267103

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$538M−$69.0M−$4.0M−$468M$2.0M$469M
Q2 2026$209M−$62.0M−$3.0M−$536M$394M$147M
Q1 2026$76.0M−$66.0M−$3.0M$8.0M−$495M$10.0M
Q4 2025$252M−$84.0M−$4.0M−$243M$177M$168M
Q3 2025$447M−$64.0M−$3.0M−$103M−$267M$383M
Q2 2025$410M−$93.0M−$3.0M−$103M−$222M$317M
Q1 2025$37.0M−$102M−$3.0M$126M$11.0M−$65.0M
Q4 2024$494M−$105M−$77.0M−$103M−$149M$389M

Celanese: income statement and cash flow

Celanese, Q3 2026: revenue $2.6B (+6% year over year), operating margin 7.7%. The chart follows the revenue to costs, profit and cash.

Celanese: 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.