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CNH Industrial Capital LLC cash flow, quarter by quarter

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

Free cash flow$135M in Q2 2026 · $457M over twelve months

Operating cash flow$135M
Free cash flow+$135M
Cash / net income2.2×

Analysis

In Q2 2026, CNH Industrial Capital LLC generated $135M of operating cash flow. That is $40.7M more than in Q2 2025 ($94.5M).

Over the twelve months to Jun 30, 2026, operating cash flow was $457M; the largest uses were other financing ($248M), dividends ($240M), net borrowing (+) / repaid (−) ($126M); besides operations, cash came from other investing ($109M); the cash balance fell by $51.0M.

Operating cash flow was $135M against net income of $60.6M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$50.3M, payables −$2.4M, deferred taxes +$395K.

Free cash flow

CNH Industrial Capital LLC: free cash flow by quarterCNH Industrial Capital LLC: free cash flow by quarter$49.1MQ3 2024$48.6MQ4 2024$242MQ1 2025$94.5MQ2 2025$107MQ3 2025$60.9MQ4 2025$153MQ1 2026$135MQ2 2026
Operating cash flow less capital spending.
CNH Industrial Capital LLC: operating cash flow against capital spendingCNH Industrial Capital LLC: operating cash flow against capital spendingOperating cash flowCapital spending$49.1M$0Q3 2024$48.6M$0Q4 2024$242M$0Q1 2025$94.5M$0Q2 2025$107M$0Q3 2025$60.9M$0Q4 2025$153M$0Q1 2026$135M$0Q2 2026
Latest (Q2 2026): Operating cash flow $135M, Capital spending $0.

Capital allocation, year by year

CNH Industrial Capital LLC: where the cash came from (up) and went (down), by fiscal yearCNH Industrial Capital LLC: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingDividendsFY2021: Operating cash flow $778MFY2021: Net borrowing −$50.3MFY2021: Dividends −$250M$778MFY2021FY2022: Operating cash flow $695MFY2022: Net borrowing $656MFY2022: Dividends −$135M$1.4BFY2022FY2023: Operating cash flow $193MFY2023: Net borrowing $4.3M$197MFY2023FY2024: Operating cash flow $348MFY2024: Net borrowing $21.1MFY2024: Dividends −$200M$369MFY2024FY2025: Operating cash flow $505MFY2025: Net borrowing −$202MFY2025: Dividends −$240M$505MFY2025
Over these 5 years operating cash flow totalled $2.5B; the largest uses were dividends ($825M) and net borrowing ($253M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$80.8M
Debt$13.6B
Net debt$13.5B
Due within a year$6.0B

CNH Industrial Capital LLC funds itself: free cash flow was $457M over the last twelve months, and $80.8M of cash and investments stands against $13.6B of debt ($6.0B due within a year, 0.0× covered by cash).

CNH Industrial Capital LLC: debt maturities by year (FY2025)CNH Industrial Capital LLC: debt maturities by year (FY2025)$2.2BYear 2$2.5BYear 3$2.3BYear 4$927MYear 5$94.6MAfter year 5
Principal due in each year as disclosed in the annual report, against $80.8M of cash and investments now.

Where the cash came from and went

CNH Industrial Capital LLC: sources (+) and uses (−) of cash, Q2 2026CNH Industrial Capital LLC: sources (+) and uses (−) of cash, Q2 2026Other investing−$260MOther financing$185MOperating cash flow$135MDividends−$60.0MCash drawn (+) / kept (−)$17.5MNet borrowing (+) / repaid (−)−$16.4MExchange rates−$1.3M
CNH Industrial Capital LLC: sources (+) and uses (−) of cash, TTM to Q2 2026CNH Industrial Capital LLC: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$457MOther financing−$248MDividends−$240MNet borrowing (+) / repaid (−)−$126MOther investing$109MCash drawn (+) / kept (−)$51.0MExchange rates−$1.9M

From profit to cash

CNH Industrial Capital LLC: net income to operating cash flow, Q2 2026CNH Industrial Capital LLC: net income to operating cash flow, Q2 2026Net income$60.6MDepreciation & amortization$50.3MDeferred taxes$395KGains on disposals−$108KPayables−$2.4MOperating cash flow$135M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$135M−$60.0M−$16.4M$17.5M$135M
Q1 2026$153M−$60.0M−$132M$303M$153M
Q4 2025$60.9M−$60.0M$189M−$49.8M$60.9M
Q3 2025$107M−$60.0M−$139M−$219M$107M
Q2 2025$94.5M−$60.0M$382M$12.1M$94.5M
Q1 2025$242M−$60.0M−$607M$369M$242M
Q4 2024$48.6M−$100M−$126M−$359M$48.6M
Q3 2024$49.1M−$25.0M$93.0M−$28.9M$49.1M

CNH Industrial Capital LLC: income statement and cash flow

CNH Industrial Capital LLC, Q2 2026: revenue $325M (-2% year over year), operating margin 24.6%. The chart follows the revenue to costs, profit and cash.

CNH Industrial Capital 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.