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Central Garden & Pet cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$315M in Q3 FY26 · $346M over twelve months

Operating cash flow$327M
Capital spending−$12.6M
Free cash flow+$315M
Cash / net income3.6×
Cash conversion cycle129 days

Analysis

In Q3 FY26, Central Garden & Pet generated $327M of operating cash flow and spent $12.6M on capital projects, leaving free cash flow of $315M.

Over the twelve months to Jun 27, 2026, operating cash flow was $390M; the largest uses were acquisitions ($57.7M), capital spending ($44.7M), buybacks ($29.2M); besides operations, cash came from other investing ($30.6M); the cash balance rose by $284M.

Operating cash flow was $327M against net income of $90.0M — 3.6× profit, cash ran ahead of reported earnings. The largest differences: receivables +$147M, inventory +$81.5M, payables −$34.5M.

Its cash conversion cycle was 129 days (receivables 55 + inventory 114 − payables 40).

Free cash flow

Central Garden & Pet: free cash flow by quarterCentral Garden & Pet: free cash flow by quarter$193MQ4 FY24−$74.9MQ1 FY25−$57.5MQ2 FY25$252MQ3 FY25$172MQ4 FY25−$81.0MQ1 FY26−$60.1MQ2 FY26$315MQ3 FY26
Operating cash flow less capital spending.
Central Garden & Pet: operating cash flow against capital spendingCentral Garden & Pet: operating cash flow against capital spendingOperating cash flowCapital spending$203M$10.0MQ4 FY24−$68.8M$6.1MQ1 FY25−$46.9M$10.7MQ2 FY25$265M$13.8MQ3 FY25$183M$10.8MQ4 FY25−$70.2M$10.8MQ1 FY26−$49.6M$10.5MQ2 FY26$327M$12.6MQ3 FY26
Latest (Q3 FY26): Operating cash flow $327M, Capital spending $12.6M.

Capital allocation, year by year

Central Garden & Pet: where the cash came from (up) and went (down), by fiscal yearCentral Garden & Pet: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $251MFY21: Net borrowing $469MFY21: Asset sales $2.4MFY21: Capital spending −$80.3MFY21: Acquisitions −$820MFY21: Buybacks −$27.9M$723MFY21FY22: Operating cash flow −$34.0MFY22: Net borrowing −$1.2MFY22: Capital spending −$115MFY22: Buybacks −$62.3MFY22FY23: Operating cash flow $382MFY23: Net borrowing −$338KFY23: Asset sales $20.0MFY23: Capital spending −$54.0MFY23: Buybacks −$37.2M$402MFY23FY24: Operating cash flow $395MFY24: Net borrowing −$470KFY24: Shares issued $1KFY24: Capital spending −$43.1MFY24: Acquisitions −$60.2MFY24: Buybacks −$24.1M$395MFY24FY25: Operating cash flow $333MFY25: Net borrowing −$331KFY25: Capital spending −$41.4MFY25: Acquisitions −$3.3MFY25: Buybacks −$155M$333MFY25
Over these 5 years operating cash flow totalled $1.3B; the largest uses were acquisitions ($884M) and capital spending ($334M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$997M
Debt$1.2B
Net debt$196M
Due within a year$62K

Central Garden & Pet funds itself: free cash flow was $346M over the last twelve months, and $997M of cash and investments stands against $1.2B of debt ($62K due within a year, 16076.0× covered by cash).

Central Garden & Pet: debt maturities by year (FY25)Central Garden & Pet: debt maturities by year (FY25)$62KYear 1$60KYear 2$37KYear 3$3KYear 4$1.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $997M of cash and investments now.

Where the cash came from and went

Central Garden & Pet: sources (+) and uses (−) of cash, Q3 FY26Central Garden & Pet: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)−$343MOperating cash flow$327MOther investing$30.6MCapital spending−$12.6MExchange rates−$1.0MBuybacks−$951KAcquisitions−$720KNet borrowing (+) / repaid (−)−$14K
Central Garden & Pet: sources (+) and uses (−) of cash, TTM to Q3 FY26Central Garden & Pet: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$390MCash drawn (+) / kept (−)−$284MAcquisitions−$57.7MCapital spending−$44.7MOther investing$30.6MBuybacks−$29.2MOther financing−$2.3MExchange rates−$1.3MPartners−$1.1MNet borrowing (+) / repaid (−)−$82KNot reconciled$1K

From profit to cash

Central Garden & Pet: net income to operating cash flow, Q3 FY26Central Garden & Pet: net income to operating cash flow, Q3 FY26Net income$90.0MDepreciation & amortization$19.6MStock-based pay$6.2MDeferred taxes$1.5MOther non-cash−$754KReceivables$147MInventory$81.5MPayables−$34.5MAccrued liabilities$17.9MPrepaid and other assets$1.8MOther liabilities−$1.1MOperating cash flow$327M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY265511440129
Q2 FY264812141129
Q1 FY265016653163
Q4 FY255713642151
Q3 FY255211234129
Q2 FY255313339147
Q1 FY255015543163
Q4 FY245714037160

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26$327M−$12.6M−$720K−$951K−$14K−$343M$315M
Q2 FY26−$49.6M−$10.5M—−$7.9M−$25K$67.8M−$60.1M
Q1 FY26−$70.2M−$10.8M−$57.0M−$20.0M−$14K$161M−$81.0M
Q4 FY25$183M−$10.8M—−$332K−$29K−$171M$172M
Q3 FY25$265M−$13.8M—−$56.5M−$57K−$196M$252M
Q2 FY25−$46.9M−$10.7M—−$44.2M−$67K$101M−$57.5M
Q1 FY25−$68.8M−$6.1M−$3.3M−$54.0M−$78K$136M−$74.9M
Q4 FY24$203M−$10.0M−$408K−$9.3M−$81K−$184M$193M

Central Garden & Pet: income statement and cash flow

Central Garden & Pet, Q3 FY26: revenue $882M (-8% year over year), operating margin 14.3%. The chart follows the revenue to costs, profit and cash.

Central Garden & Pet: 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.