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Ceco Environmental cash flow, quarter by quarter

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

Free cash flow−$24.2M in Q2 2026 · −$21.6M over twelve months

Operating cash flow−$19.3M
Capital spending−$4.9M
Free cash flow−$24.2M
Cash conversion cycle104 days

Analysis

In Q2 2026, Ceco Environmental generated −$19.3M of operating cash flow and spent $4.9M on capital projects, leaving free cash flow of −$24.2M. That is $15.5M less than in Q2 2025 (−$8.7M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$7.2M; the largest uses were other investing ($435M), capital spending ($14.4M), operating cash flow ($7.2M); besides operations, cash came from other financing ($446M), net borrowing (+) / repaid (−) ($39.8M); the cash balance rose by $26.9M.

Operating cash flow was −$19.3M against net income of −$34.5M. The largest differences: receivables −$77.1M, prepaid and other assets −$43.7M, payables +$21.3M.

Its cash conversion cycle was 104 days (receivables 118 + inventory 62 − payables 76).

Free cash flow

Ceco Environmental: free cash flow by quarterCeco Environmental: free cash flow by quarter$11.1MQ3 2024−$4.3MQ4 2024−$15.1MQ1 2025−$8.7MQ2 2025$11.0MQ3 2025$7.3MQ4 2025−$15.7MQ1 2026−$24.2MQ2 2026
Operating cash flow less capital spending.
Ceco Environmental: operating cash flow against capital spendingCeco Environmental: operating cash flow against capital spendingOperating cash flowCapital spending$15.1M$4.0MQ3 2024$1.8M$6.1MQ4 2024−$11.7M$3.4MQ1 2025−$7.7M$1.0MQ2 2025$15.3M$4.2MQ3 2025$10.0M$2.7MQ4 2025−$13.1M$2.6MQ1 2026−$19.3M$4.9MQ2 2026
Latest (Q2 2026): Operating cash flow −$19.3M, Capital spending $4.9M.

Capital allocation, year by year

Ceco Environmental: where the cash came from (up) and went (down), by fiscal yearCeco Environmental: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $13.3MFY2021: Net borrowing −$60.4MFY2021: Shares issued $230KFY2021: Asset sales $533KFY2021: Capital spending −$2.6MFY2021: Buybacks −$5.0M$14.1MFY2021FY2022: Operating cash flow $29.6MFY2022: Net borrowing −$29.1MFY2022: Shares issued $671KFY2022: Asset sales $19KFY2022: Capital spending −$3.4MFY2022: Buybacks −$7.0M$30.3MFY2022FY2023: Operating cash flow $44.6MFY2023: Net borrowing −$81.5MFY2023: Shares issued $1.4MFY2023: Capital spending −$8.4M$46.1MFY2023FY2024: Operating cash flow $24.8MFY2024: Net borrowing −$227MFY2024: Shares issued $400KFY2024: Asset sales $4KFY2024: Capital spending −$17.4MFY2024: Buybacks −$5.0M$25.2MFY2024FY2025: Operating cash flow $5.9MFY2025: Net borrowing −$241MFY2025: Shares issued $3.8MFY2025: Asset sales $74KFY2025: Capital spending −$11.3M$9.7MFY2025
Over these 5 years operating cash flow totalled $118M; the largest uses were net borrowing ($640M) and capital spending ($43.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$61.1M
Debt$728M
Net debt$667M
Due within a year$1.9M
Cash runway2.8 years

Ceco Environmental is burning cash: its operations consume cash, a free cash flow of −$21.6M a year at the current rate against $61.1M of cash and investments: a runway of about 2.8 years; $1.9M of debt also comes due within a year, which the cash covers before any new financing.

Ceco Environmental: debt maturities by year (FY2025)Ceco Environmental: debt maturities by year (FY2025)$1.9MYear 1$3.9MYear 2$209MYear 3
Principal due in each year as disclosed in the annual report, against $61.1M of cash and investments now.

Where the cash came from and went

Ceco Environmental: sources (+) and uses (−) of cash, Q2 2026Ceco Environmental: sources (+) and uses (−) of cash, Q2 2026Other financing$557MOther investing−$430MNet borrowing (+) / repaid (−)−$82.3MOperating cash flow−$19.3MCash drawn (+) / kept (−)−$18.3MCapital spending−$4.9MExchange rates−$1.6MNot reconciled−$1K
Ceco Environmental: sources (+) and uses (−) of cash, TTM to Q2 2026Ceco Environmental: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$446MOther investing−$435MNet borrowing (+) / repaid (−)$39.8MCash drawn (+) / kept (−)−$26.9MCapital spending−$14.4MOperating cash flow−$7.2MPartners−$2.0MExchange rates$92KNot reconciled$1K

From profit to cash

Ceco Environmental: net income to operating cash flow, Q2 2026Ceco Environmental: net income to operating cash flow, Q2 2026Net income−$34.5MStock-based pay$12.4MDeferred taxes$2.0MGains on disposals$245KReceivables−$77.1MInventory−$3.0MPayables$21.3MPrepaid and other assets−$43.7MOther liabilities$1.0MIncome taxes payable−$8.1MOperating cash flow−$19.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20261186276104
Q1 202699368154
Q4 202571378127
Q3 202575418828
Q2 202577439130
Q1 202579388631
Q4 202475369120
Q3 202477399323

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$19.3M−$4.9M−$82.3M—−$18.3M−$24.2M
Q1 2026−$13.1M−$2.6M−$14.9M—−$12.3M−$15.7M
Q4 2025$10.0M−$2.7M−$56.2M—−$354K$7.3M
Q3 2025$15.3M−$4.2M−$41.8M$3.8M$4.0M$11.0M
Q2 2025−$7.7M−$1.0M−$115M—$110M−$8.7M
Q1 2025−$11.7M−$3.4M−$28.0M—−$108M−$15.1M
Q4 2024$1.8M−$6.1M−$164M—$725K−$4.3M
Q3 2024$15.1M−$4.0M−$34.2M$428K−$2.0M$11.1M

Ceco Environmental: income statement and cash flow

Ceco Environmental, Q2 2026: revenue $285M (+54% year over year), operating margin -11.6%. The chart follows the revenue to costs, profit and cash.

Ceco Environmental: 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.