Filing Flows › Companies › Highwater Ethanol LLC › Cash flow
Highwater Ethanol LLC cash flow, quarter by quarter
Latest: Q2 2026 · from the cash-flow statements filed with the SEC
Free cash flow$12.0M in Q2 2026
Analysis
In Q2 2026, Highwater Ethanol LLC generated $16.0M of operating cash flow and spent $4.0M on capital projects, leaving free cash flow of $12.0M. That is $11.6M more than in Q2 2025 ($330K).
Operating cash flow was $16.0M against net income of $10.8M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: inventory −$3.3M, depreciation & amortization +$1.6M, payables −$1.2M.
Its cash conversion cycle was 38 days (receivables 6 + inventory 51 − payables 19).
Free cash flow
Cash runway and the debt wall
Highwater Ethanol LLC funds itself: free cash flow was — over the last twelve months, with $34.9M of cash and investments and no debt on the balance sheet.
Where the cash came from and went
From profit to cash
| Quarter | Receivable days | Inventory days | Payable days | Cash conversion cycle |
|---|---|---|---|---|
| Q2 2026 | 6 | 51 | 19 | 38 |
| Q1 2026 | 5 | 43 | 23 | 25 |
| Q1 2026 | 5 | 47 | 29 | 23 |
| Q3 2025 | 6 | 50 | 25 | 31 |
| Q2 2025 | 7 | 47 | 18 | 37 |
| Q1 2025 | 7 | 42 | 18 | 30 |
| Q1 2025 | 8 | 45 | 37 | 16 |
| Q3 2024 | 7 | 40 | 42 | 5 |
Every quarter
| Quarter | Operating cash flow | Capital spending | Buybacks | Net borrowing (+) / repaid (−) | Cash drawn (+) / kept (−) | Free cash flow |
|---|---|---|---|---|---|---|
| Q2 2026 | $16.0M | −$4.0M | — | −$37K | −$11.9M | $12.0M |
| Q1 2026 | $3.3M | −$29K | — | −$37K | −$3.2M | $3.2M |
| Q1 2026 | $4.3M | −$1.4M | — | −$36K | $3.7M | $2.9M |
| Q3 2025 | $11.0M | −$1.3M | — | −$36K | −$9.6M | $9.6M |
| Q2 2025 | $2.3M | −$1.9M | — | −$35K | −$295K | $330K |
| Q1 2025 | −$57K | −$1.9M | −$10K | −$35K | $1.9M | −$2.0M |
| Q1 2025 | −$9.7M | −$555K | −$10K | −$34K | $18.4M | −$10.3M |
| Q3 2024 | $5.8M | −$2.1M | — | −$34K | −$3.5M | $3.7M |
Highwater Ethanol LLC: income statement and cash flow
Highwater Ethanol LLC, Q2 2026: revenue $39.1M (+12% year over year), operating margin 14.5%. The chart follows the revenue to costs, profit and cash.
Highwater Ethanol LLC: 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.