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Modiv Industrial cash flow, quarter by quarter

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

Free cash flow$3.1M in Q2 2026 · $14.6M over twelve months

Operating cash flow$3.5M
Capital spending−$393K
Free cash flow+$3.1M
Cash / net income0.5×

Analysis

In Q2 2026, Modiv Industrial generated $3.5M of operating cash flow and spent $393K on capital projects, leaving free cash flow of $3.1M. That is $810K less than in Q2 2025 ($3.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $15.6M; the largest uses were other financing ($20.1M), net borrowing (+) / repaid (−) ($18.9M), real estate bought ($9.6M); besides operations, cash came from asset & business sales ($46.6M), other investing ($2.0M); the cash balance rose by $15.8M.

Operating cash flow was $3.5M against net income of $6.5M — 0.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$3.6M, payables +$1.1M, stock-based pay +$744K.

Free cash flow

Modiv Industrial: free cash flow by quarterModiv Industrial: free cash flow by quarter$3.6MQ3 2024$5.3MQ4 2024$3.0MQ1 2025$3.9MQ2 2025$4.1MQ3 2025$3.5MQ4 2025$4.0MQ1 2026$3.1MQ2 2026
Operating cash flow less capital spending.
Modiv Industrial: operating cash flow against capital spendingModiv Industrial: operating cash flow against capital spendingOperating cash flowCapital spending$5.1M$1.5MQ3 2024$5.4M$84KQ4 2024$3.0M$78KQ1 2025$3.9M$43KQ2 2025$4.1M$18KQ3 2025$3.8M$367KQ4 2025$4.1M$145KQ1 2026$3.5M$393KQ2 2026
Latest (Q2 2026): Operating cash flow $3.5M, Capital spending $393K.

Capital allocation, year by year

Modiv Industrial: where the cash came from (up) and went (down), by fiscal yearModiv Industrial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $9.7MFY2021: Net borrowing −$48.6MFY2021: Shares issued $51.9MFY2021: Asset sales $37.7MFY2021: Capital spending −$1.4MFY2021: Buybacks −$19.1MFY2021: Dividends −$3.5M$99.4MFY2021FY2022: Operating cash flow $16.6MFY2022: Net borrowing −$2.0MFY2022: Shares issued $114KFY2022: Asset sales $70.7MFY2022: Capital spending −$4.4MFY2022: Buybacks −$4.2M$87.4MFY2022FY2023: Operating cash flow $16.6MFY2023: Net borrowing $83.7MFY2023: Shares issued $832KFY2023: Asset sales $34.7MFY2023: Capital spending −$4.8MFY2023: Buybacks −$1.1M$136MFY2023FY2024: Operating cash flow $18.2MFY2024: Net borrowing −$281KFY2024: Shares issued $7.7MFY2024: Asset sales $15.0MFY2024: Capital spending −$1.8MFY2024: Buybacks −$11.5M$41.0MFY2024FY2025: Operating cash flow $15.0MFY2025: Net borrowing −$18.8MFY2025: Shares issued $2.8MFY2025: Asset sales $27.1MFY2025: Capital spending −$506K$44.9MFY2025
Over these 5 years operating cash flow totalled $76.2M; the largest uses were net borrowing ($69.7M) and buybacks ($35.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$21.6M
Debt$273M
Net debt$252M
Due within a year$269K

Modiv Industrial funds itself: free cash flow was $14.6M over the last twelve months, and $21.6M of cash and investments stands against $273M of debt ($269K due within a year, 80.4× covered by cash).

Modiv Industrial: debt maturities by year (FY2025)Modiv Industrial: debt maturities by year (FY2025)$269KYear 1$250MYear 2$290KYear 3$11.2MYear 4
Principal due in each year as disclosed in the annual report, against $21.6M of cash and investments now.

Where the cash came from and went

Modiv Industrial: sources (+) and uses (−) of cash, Q2 2026Modiv Industrial: sources (+) and uses (−) of cash, Q2 2026Asset & business sales$18.2MCash drawn (+) / kept (−)−$17.1MOther financing−$4.7MOperating cash flow$3.5MOther investing$738KCapital spending−$393KNet borrowing (+) / repaid (−)−$155K
Modiv Industrial: sources (+) and uses (−) of cash, TTM to Q2 2026Modiv Industrial: sources (+) and uses (−) of cash, TTM to Q2 2026Asset & business sales$46.6MOther financing−$20.1MNet borrowing (+) / repaid (−)−$18.9MCash drawn (+) / kept (−)−$15.8MOperating cash flow$15.6MReal estate bought−$9.6MOther investing$2.0MShares issued$1.1MCapital spending−$923K

From profit to cash

Modiv Industrial: net income to operating cash flow, Q2 2026Modiv Industrial: net income to operating cash flow, Q2 2026Net income$6.5MDepreciation & amortization$3.6MStock-based pay$744KReceivables$152KPayables$1.1MPrepaid and other assets$490KOperating cash flow$3.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$3.5M−$393K—−$155K—−$17.1M$3.1M
Q1 2026$4.1M−$145K—−$2.1M—$9.9M$4.0M
Q4 2025$3.8M−$367K—−$18.4M—−$4.4M$3.5M
Q3 2025$4.1M−$18K—−$140K$1.1M−$4.1M$4.1M
Q2 2025$3.9M−$43K—−$139K$402K$351K$3.9M
Q1 2025$3.0M−$78K—−$137K$1.3M$5.4M$3.0M
Q4 2024$5.4M−$84K—−$93K$4.5M−$4.7M$5.3M
Q3 2024$5.1M−$1.5M−$11.5M−$71K$2.4M$12.0M$3.6M

Modiv Industrial: income statement and cash flow

Modiv Industrial, Q2 2026: revenue $11.7M (-1% year over year), operating margin 85.3%. The chart follows the revenue to costs, profit and cash.

Modiv Industrial: 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.