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RE/MAX Holdings cash flow, quarter by quarter

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

Free cash flow$3.5M in Q2 2026 · $25.8M over twelve months

Operating cash flow$6.2M
Capital spending−$2.7M
Free cash flow+$3.5M

Analysis

In Q2 2026, RE/MAX Holdings generated $6.2M of operating cash flow and spent $2.7M on capital projects, leaving free cash flow of $3.5M. That is $575K more than in Q2 2025 ($2.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $35.0M; the largest uses were capital spending ($9.1M), net borrowing (+) / repaid (−) ($4.6M), taxes on employees’ shares ($3.8M); the cash balance rose by $14.3M.

Operating cash flow was $6.2M against net income of −$6.8M. The largest differences: depreciation & amortization +$5.9M, stock-based pay +$4.0M, deferred taxes −$226K.

Free cash flow

RE/MAX Holdings: free cash flow by quarterRE/MAX Holdings: free cash flow by quarter$16.3MQ3 2024$16.0MQ4 2024$4.0MQ1 2025$2.9MQ2 2025$16.4MQ3 2025$10.2MQ4 2025−$4.3MQ1 2026$3.5MQ2 2026
Operating cash flow less capital spending.
RE/MAX Holdings: operating cash flow against capital spendingRE/MAX Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$17.6M$1.3MQ3 2024$16.8M$801KQ4 2024$5.7M$1.7MQ1 2025$4.6M$1.6MQ2 2025$17.7M$1.3MQ3 2025$12.9M$2.8MQ4 2025−$1.8M$2.4MQ1 2026$6.2M$2.7MQ2 2026
Latest (Q2 2026): Operating cash flow $6.2M, Capital spending $2.7M.

Capital allocation, year by year

RE/MAX Holdings: where the cash came from (up) and went (down), by fiscal yearRE/MAX Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $42.4MFY2021: Net borrowing $231MFY2021: Capital spending −$15.2MFY2021: Acquisitions −$180MFY2021: Dividends −$17.8M$274MFY2021FY2022: Operating cash flow $71.1MFY2022: Net borrowing −$4.6MFY2022: Capital spending −$9.9MFY2022: Buybacks −$34.1MFY2022: Dividends −$18.2M$71.1MFY2022FY2023: Operating cash flow $28.3MFY2023: Net borrowing −$4.6MFY2023: Capital spending −$6.4MFY2023: Buybacks −$3.4MFY2023: Dividends −$13.6M$28.3MFY2023FY2024: Operating cash flow $59.7MFY2024: Net borrowing −$4.6MFY2024: Capital spending −$6.6MFY2024: Dividends −$599K$59.7MFY2024FY2025: Operating cash flow $40.9MFY2025: Net borrowing −$4.6MFY2025: Capital spending −$7.4MFY2025: Dividends −$498K$40.9MFY2025
Over these 5 years operating cash flow totalled $242M; the largest uses were acquisitions ($180M) and dividends ($50.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$112M
Debt$435M
Net debt$323M
Due within a year$4.6M

RE/MAX Holdings funds itself: free cash flow was $25.8M over the last twelve months, and $112M of cash and investments stands against $435M of debt ($4.6M due within a year, 24.4× covered by cash).

RE/MAX Holdings: debt maturities by year (FY2025)RE/MAX Holdings: debt maturities by year (FY2025)$4.6MYear 1$4.6MYear 2$430MYear 3
Principal due in each year as disclosed in the annual report, against $112M of cash and investments now.

Where the cash came from and went

RE/MAX Holdings: sources (+) and uses (−) of cash, Q2 2026RE/MAX Holdings: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$6.2MCapital spending−$2.7MCash drawn (+) / kept (−)−$1.5MNet borrowing (+) / repaid (−)−$1.1MExchange rates−$875KTaxes on employees’ shares−$25K
RE/MAX Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026RE/MAX Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$35.0MCash drawn (+) / kept (−)−$14.3MCapital spending−$9.1MNet borrowing (+) / repaid (−)−$4.6MTaxes on employees’ shares−$3.8MExchange rates−$1.4MOther financing−$1.0MOther investing−$408KDividends−$271K

From profit to cash

RE/MAX Holdings: net income to operating cash flow, Q2 2026RE/MAX Holdings: net income to operating cash flow, Q2 2026Net income−$6.8MDepreciation & amortization$5.9MStock-based pay$4.0MDeferred taxes−$226KOther non-cash$170KOperating cash flow$6.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$6.2M−$2.7M—−$1.1M−$1.5M$3.5M
Q1 2026−$1.8M−$2.4M−$103K−$1.1M$10.4M−$4.3M
Q4 2025$12.9M−$2.8M−$157K−$1.1M−$9.4M$10.2M
Q3 2025$17.7M−$1.3M−$11K−$1.1M−$13.9M$16.4M
Q2 2025$4.6M−$1.6M−$6K−$1.1M−$2.9M$2.9M
Q1 2025$5.7M−$1.7M−$324K−$1.1M$2.4M$4.0M
Q4 2024$16.8M−$801K−$8K−$1.1M−$12.9M$16.0M
Q3 2024$17.6M−$1.3M−$4K−$1.1M−$15.7M$16.3M

RE/MAX Holdings: income statement and cash flow

RE/MAX Holdings, Q2 2026: revenue $68.5M (-6% year over year), operating margin 2.2%. The chart follows the revenue to costs, profit and cash.

RE/MAX Holdings: 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.