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Graybar Electric cash flow, quarter by quarter

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

Free cash flow$218M in Q3 2026 · $468M over twelve months

Operating cash flow$263M
Capital spending−$45.4M
Free cash flow+$218M
Cash / net income1.5×
Cash conversion cycle35 days

Analysis

In Q3 2026, Graybar Electric generated $263M of operating cash flow and spent $45.4M on capital projects, leaving free cash flow of $218M. That is $10.0M less than in Q3 2025 ($228M).

Over the twelve months to Sep 30, 2026, operating cash flow was $581M; the largest uses were acquisitions ($266M), dividends ($228M), capital spending ($112M); besides operations, cash came from shares issued ($28.8M), asset & business sales ($1.3M); the cash balance fell by $20.9M.

Operating cash flow was $263M against net income of $172M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: receivables −$184M, payables +$171M, employee-related liabilities +$78.6M.

Its cash conversion cycle was 35 days (receivables 57 + inventory 31 − payables 53).

Free cash flow

Graybar Electric: free cash flow by quarterGraybar Electric: free cash flow by quarter$54.9MQ4 2024$168MQ1 2025−$30.5MQ2 2025$228MQ3 2025$53.8MQ4 2025$98.2MQ1 2026$98.4MQ2 2026$218MQ3 2026
Operating cash flow less capital spending.
Graybar Electric: operating cash flow against capital spendingGraybar Electric: operating cash flow against capital spendingOperating cash flowCapital spending$75.5M$20.6MQ4 2024$183M$14.9MQ1 2025−$18.7M$11.8MQ2 2025$245M$16.9MQ3 2025$68.2M$14.4MQ4 2025$119M$20.8MQ1 2026$130M$31.9MQ2 2026$263M$45.4MQ3 2026
Latest (Q3 2026): Operating cash flow $263M, Capital spending $45.4M.

Capital allocation, year by year

Graybar Electric: where the cash came from (up) and went (down), by fiscal yearGraybar Electric: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $128MFY2021: Net borrowing $71.9MFY2021: Shares issued $20.5MFY2021: Asset sales $9.9MFY2021: Capital spending −$70.9MFY2021: Acquisitions −$88.7MFY2021: Buybacks −$15.9MFY2021: Dividends −$137M$230MFY2021FY2022: Operating cash flow $353MFY2022: Net borrowing −$94.7MFY2022: Shares issued $20.4MFY2022: Asset sales $600KFY2022: Capital spending −$67.7MFY2022: Acquisitions −$83.7MFY2022: Buybacks −$14.7MFY2022: Dividends −$92.8M$374MFY2022FY2023: Operating cash flow $623MFY2023: Net borrowing −$33.4MFY2023: Shares issued $22.9MFY2023: Asset sales $1.1MFY2023: Capital spending −$82.0MFY2023: Acquisitions −$379MFY2023: Buybacks −$20.3MFY2023: Dividends −$80.4M$647MFY2023FY2024: Operating cash flow $380MFY2024: Net borrowing $20.5MFY2024: Shares issued $26.1MFY2024: Asset sales $18.8MFY2024: Capital spending −$58.5MFY2024: Acquisitions −$146MFY2024: Buybacks −$24.7MFY2024: Dividends −$225M$445MFY2024FY2025: Operating cash flow $477MFY2025: Net borrowing −$23.0MFY2025: Shares issued $26.3MFY2025: Asset sales $6.6MFY2025: Capital spending −$58.0MFY2025: Acquisitions −$6.9MFY2025: Buybacks −$20.8MFY2025: Dividends −$227M$510MFY2025
Over these 5 years operating cash flow totalled $2.0B; the largest uses were dividends ($763M) and acquisitions ($704M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$396M
Debt$700K
Net cash$395M
Due within a year$900K

Graybar Electric funds itself: free cash flow was $468M over the last twelve months, and $396M of cash and investments stands against $700K of debt ($900K due within a year, 439.7× covered by cash).

Where the cash came from and went

Graybar Electric: sources (+) and uses (−) of cash, Q3 2026Graybar Electric: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$263MCash drawn (+) / kept (−)−$186MCapital spending−$45.4MAcquisitions−$22.2MDividends−$9.9MBuybacks−$4.2MShares issued$4.2MNet borrowing (+) / repaid (−)−$200KAsset & business sales$100K
Graybar Electric: sources (+) and uses (−) of cash, TTM to Q3 2026Graybar Electric: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$581MAcquisitions−$266MDividends−$228MCapital spending−$112MShares issued$28.8MCash drawn (+) / kept (−)$20.9MBuybacks−$17.6MOther investing−$4.1MOther financing−$2.5MAsset & business sales$1.3MNet borrowing (+) / repaid (−)−$1.0MPartners−$1.0M

From profit to cash

Graybar Electric: net income to operating cash flow, Q3 2026Graybar Electric: net income to operating cash flow, Q3 2026Net income$172MDepreciation & amortization$24.4MDeferred taxes$10.2MImpairments$5.6MGains on disposals$100KReceivables−$184MInventory−$58.8MPayables$171MEmployee-related liabilities$78.6MPrepaid and other assets−$27.3MOther liabilities$68.8MOperating cash flow$263M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202657315335
Q2 202656315135
Q1 202658355438
Q4 202559355539
Q3 202558335337
Q2 202553305034
Q1 202556345238
Q4 202457365340

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$263M−$45.4M−$22.2M−$4.2M−$9.9M−$200K$4.2M−$186M$218M
Q2 2026$130M−$31.9M−$66.3M−$6.3M−$9.9M−$300K$5.0M−$16.5M$98.4M
Q1 2026$119M−$20.8M−$177M−$3.2M−$9.9M−$200K$16.5M$79.6M$98.2M
Q4 2025$68.2M−$14.4M$300K−$3.9M−$198M−$300K$3.1M$144M$53.8M
Q3 2025$245M−$16.9M−$5.0M−$4.5M−$9.8M−$300K$3.8M−$213M$228M
Q2 2025−$18.7M−$11.8M—−$8.3M−$9.7M−$200K$4.5M$47.3M−$30.5M
Q1 2025$183M−$14.9M−$2.2M−$4.1M−$9.8M−$22.2M$14.9M−$160M$168M
Q4 2024$75.5M−$20.6M—−$5.5M−$196M—$3.1M$112M$54.9M

Graybar Electric: income statement and cash flow

Graybar Electric, Q3 2026: revenue $4.0B (+22% year over year), operating margin 5.7%. The chart follows the revenue to costs, profit and cash.

Graybar Electric: 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.