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Wisconsin Public Service cash flow, quarter by quarter

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

Free cash flow$67.9M in Q3 2026 · $603M over twelve months

Operating cash flow$270M
Capital spending−$203M
Free cash flow+$67.9M
Cash / net income2.2×

Analysis

In Q3 2026, Wisconsin Public Service generated $270M of operating cash flow and spent $203M on capital projects, leaving free cash flow of $67.9M. That is $140M more than in Q3 2025 (−$72.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $603M; the largest uses were other investing ($725M), other financing ($441M); besides operations, cash came from net borrowing (+) / repaid (−) ($562M); the cash balance fell by $1.4M.

Operating cash flow was $270M against net income of $122M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$70.3M, deferred taxes +$17.5M, payables +$16.0M.

Free cash flow

Wisconsin Public Service: free cash flow by quarterWisconsin Public Service: free cash flow by quarter$77.1MQ4 2024$68.3MQ1 2025−$50.3MQ2 2025−$72.1MQ3 2025$31.9MQ4 2025$24.5MQ1 2026−$44.0MQ2 2026$67.9MQ3 2026
Operating cash flow less capital spending.
Wisconsin Public Service: operating cash flow against capital spendingWisconsin Public Service: operating cash flow against capital spendingOperating cash flowCapital spending$77.1M$0Q4 2024$193M$125MQ1 2025$78.7M$129MQ2 2025$211M$283MQ3 2025$31.9M$0Q4 2025$172M$148MQ1 2026$128M$172MQ2 2026$270M$203MQ3 2026
Latest (Q3 2026): Operating cash flow $270M, Capital spending $203M.

Capital allocation, year by year

Wisconsin Public Service: where the cash came from (up) and went (down), by fiscal yearWisconsin Public Service: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingFY2021: Operating cash flow $438MFY2021: Net borrowing $170MFY2021: Capital spending −$390M$609MFY2021FY2022: Operating cash flow $288MFY2022: Net borrowing $164MFY2022: Capital spending −$434M$452MFY2022FY2023: Operating cash flow $576MFY2023: Net borrowing $115MFY2023: Capital spending −$454M$691MFY2023FY2024: Operating cash flow $533MFY2024: Net borrowing $51.5MFY2024: Capital spending −$494M$584MFY2024FY2025: Operating cash flow $514MFY2025: Net borrowing −$202MFY2025: Capital spending −$704M$514MFY2025
Over these 5 years operating cash flow totalled $2.3B; the largest uses were capital spending ($2.5B) and net borrowing ($202M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$900K
Debt$2.0B
Net debt$2.0B
Due within a year$5.0M

Wisconsin Public Service funds itself: free cash flow was $603M over the last twelve months, and $900K of cash and investments stands against $2.0B of debt ($5.0M due within a year, 0.2× covered by cash).

Wisconsin Public Service: debt maturities by year (FY2025)Wisconsin Public Service: debt maturities by year (FY2025)$50.0MYear 3$300MYear 4$1.6BAfter year 5
Principal due in each year as disclosed in the annual report, against $900K of cash and investments now.

Where the cash came from and went

Wisconsin Public Service: sources (+) and uses (−) of cash, Q3 2026Wisconsin Public Service: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$270MCapital spending−$203MOther investing−$35.1MOther financing−$33.3MNet borrowing (+) / repaid (−)$1.1MCash drawn (+) / kept (−)−$600K
Wisconsin Public Service: sources (+) and uses (−) of cash, TTM to Q3 2026Wisconsin Public Service: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$725MOperating cash flow$603MNet borrowing (+) / repaid (−)$562MOther financing−$441MCash drawn (+) / kept (−)$1.4M

From profit to cash

Wisconsin Public Service: net income to operating cash flow, Q3 2026Wisconsin Public Service: net income to operating cash flow, Q3 2026Net income$122MDepreciation & amortization$70.3MDeferred taxes$17.5MReceivables−$2.5MInventory−$2.1MPayables$16.0MPrepaid and other assets−$2.6MOther liabilities$1.9MOperating cash flow$270M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$270M−$203M$1.1M−$600K$67.9M
Q2 2026$128M−$172M$46.6M−$300K−$44.0M
Q1 2026$172M−$148M$396M$700K$24.5M
Q4 2025$31.9M—$118M$1.6M$31.9M
Q3 2025$211M−$283M−$41.5M−$2.0M−$72.1M
Q2 2025$78.7M−$129M$64.5M$900K−$50.3M
Q1 2025$193M−$125M−$43.0M$300K$68.3M
Q4 2024$77.1M—−$188M$1.6M$77.1M

Wisconsin Public Service: income statement and cash flow

Wisconsin Public Service, Q3 2026: revenue $483M (+4% year over year), operating margin 33.8%. The chart follows the revenue to costs, profit and cash.

Wisconsin Public Service: 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.