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C & F Financial cash flow, quarter by quarter

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

Free cash flow$26.3M in Q3 2026 · $42.2M over twelve months

Operating cash flow$29.3M
Capital spending−$3.0M
Free cash flow+$26.3M
Cash / net income3.5×

Analysis

In Q3 2026, C & F Financial generated $29.3M of operating cash flow and spent $3.0M on capital projects, leaving free cash flow of $26.3M. That is $3.6M more than in Q3 2025 ($22.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $48.6M; the largest uses were other investing ($167M), capital spending ($6.4M), dividends ($6.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($54.0M), other financing ($28.5M); the cash balance fell by $50.1M.

Operating cash flow was $29.3M against net income of $8.3M — 3.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$980K, prepaid and other assets +$916K, stock-based pay +$537K.

Free cash flow

C & F Financial: free cash flow by quarterC & F Financial: free cash flow by quarter$33.3MQ4 2024$2.9MQ1 2025−$5.0MQ2 2025$22.7MQ3 2025$1.5MQ4 2025−$7.9MQ1 2026$22.3MQ2 2026$26.3MQ3 2026
Operating cash flow less capital spending.
C & F Financial: operating cash flow against capital spendingC & F Financial: operating cash flow against capital spendingOperating cash flowCapital spending$33.8M$430KQ4 2024$3.2M$267KQ1 2025−$4.4M$566KQ2 2025$23.4M$740KQ3 2025$2.2M$756KQ4 2025−$7.6M$322KQ1 2026$24.7M$2.4MQ2 2026$29.3M$3.0MQ3 2026
Latest (Q3 2026): Operating cash flow $29.3M, Capital spending $3.0M.

Capital allocation, year by year

C & F Financial: where the cash came from (up) and went (down), by fiscal yearC & F Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $157MFY2021: Net borrowing $14.1MFY2021: Asset sales $1KFY2021: Capital spending −$4.8MFY2021: Buybacks −$8.2MFY2021: Dividends −$5.7M$171MFY2021FY2022: Operating cash flow $90.6MFY2022: Net borrowing $1.4MFY2022: Asset sales $2.0MFY2022: Capital spending −$3.4MFY2022: Buybacks −$5.4MFY2022: Dividends −$5.8M$93.9MFY2022FY2023: Operating cash flow $38.8MFY2023: Net borrowing $17.4MFY2023: Capital spending −$1.5MFY2023: Buybacks −$7.8MFY2023: Dividends −$6.0M$56.2MFY2023FY2024: Operating cash flow $36.8MFY2024: Net borrowing $10.5MFY2024: Capital spending −$3.5MFY2024: Buybacks −$8.8MFY2024: Dividends −$5.8M$47.3MFY2024FY2025: Operating cash flow $24.5MFY2025: Net borrowing $19.7MFY2025: Capital spending −$2.3MFY2025: Buybacks −$943KFY2025: Dividends −$6.0M$44.2MFY2025
Over these 5 years operating cash flow totalled $348M; the largest uses were buybacks ($31.1M) and dividends ($29.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$46.0M
Debt$20.0M
Net cash$26.0M

C & F Financial funds itself: free cash flow was $42.2M over the last twelve months, and $46.0M of cash and investments stands against $20.0M of debt.

C & F Financial: debt maturities by year (FY2024)C & F Financial: debt maturities by year (FY2024)$20.0MYear 2$20.0MYear 3$20.0MAfter year 5
Principal due in each year as disclosed in the annual report, against $46.0M of cash and investments now.

Where the cash came from and went

C & F Financial: sources (+) and uses (−) of cash, Q3 2026C & F Financial: sources (+) and uses (−) of cash, Q3 2026Other investing−$51.5MOperating cash flow$29.3MNet borrowing (+) / repaid (−)$20.0MCash drawn (+) / kept (−)$16.1MOther financing−$9.4MCapital spending−$3.0MDividends−$1.6MBuybacks−$14K
C & F Financial: sources (+) and uses (−) of cash, TTM to Q3 2026C & F Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$167MNet borrowing (+) / repaid (−)$54.0MCash drawn (+) / kept (−)$50.1MOperating cash flow$48.6MOther financing$28.5MCapital spending−$6.4MDividends−$6.2MBuybacks−$1.5M

From profit to cash

C & F Financial: net income to operating cash flow, Q3 2026C & F Financial: net income to operating cash flow, Q3 2026Net income$8.3MDepreciation & amortization$980KStock-based pay$537KOther non-cash−$59KPrepaid and other assets$916KOther liabilities−$318KOperating cash flow$29.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$29.3M−$3.0M−$14K−$1.6M$20.0M$16.1M$26.3M
Q2 2026$24.7M−$2.4M−$367K−$1.6M—$15.3M$22.3M
Q1 2026−$7.6M−$322K−$614K−$1.6M—$1.7M−$7.9M
Q4 2025$2.2M−$756K−$507K−$1.5M$29.0M$17.0M$1.5M
Q3 2025$23.4M−$740K—−$1.5M−$32.6M−$15.9M$22.7M
Q2 2025−$4.4M−$566K−$10K−$1.5M−$5.3M−$4.2M−$5.0M
Q1 2025$3.2M−$267K−$426K−$1.5M−$3.1M−$10.4M$2.9M
Q4 2024$33.8M−$430K−$969K−$1.4M−$19.6M−$16.4M$33.3M

C & F Financial: income statement and cash flow

C & F Financial, Q3 2026: revenue $38.2M (+6% year over year), operating margin 26.6%. The chart follows the revenue to costs, profit and cash.

C & F Financial: 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.