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Davey Tree Expert cash flow, quarter by quarter

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

Free cash flow$51.5M in Q2 2026 · $145M over twelve months

Operating cash flow$51.5M
Free cash flow+$51.5M
Cash / net income2.1×

Analysis

In Q2 2026, Davey Tree Expert generated $51.5M of operating cash flow.

Over the twelve months to Jul 4, 2026, operating cash flow was $145M; the largest uses were other investing ($135M), buybacks ($105M), real estate bought ($23.5M); besides operations, cash came from other financing ($96.5M), shares issued ($45.9M); the cash balance rose by $3.9M.

Operating cash flow was $51.5M against net income of $24.7M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: receivables −$26.1M, depreciation & amortization +$23.1M, prepaid and other assets +$11.2M.

Free cash flow

Davey Tree Expert: free cash flow by quarterDavey Tree Expert: free cash flow by quarter$32.6MQ3 2024$34.7MQ4 2024−$4.4MQ1 2025$47.7MQ2 2025$31.1MQ3 2025$80.1MQ4 2025−$18.0MQ1 2026$51.5MQ2 2026
Operating cash flow less capital spending.
Davey Tree Expert: operating cash flow against capital spendingDavey Tree Expert: operating cash flow against capital spendingOperating cash flowCapital spending$32.6M$0Q3 2024$34.7M$0Q4 2024−$4.4M$0Q1 2025$47.7M$0Q2 2025$31.1M$0Q3 2025$80.1M$0Q4 2025−$18.0M$0Q1 2026$51.5M$0Q2 2026
Latest (Q2 2026): Operating cash flow $51.5M, Capital spending $0.

Capital allocation, year by year

Davey Tree Expert: where the cash came from (up) and went (down), by fiscal yearDavey Tree Expert: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesAcquisitionsBuybacksDividendsFY2021: Operating cash flow $76.0MFY2021: Net borrowing $42.8MFY2021: Shares issued $25.5MFY2021: Asset sales $7.0MFY2021: Acquisitions −$11.7MFY2021: Buybacks −$50.9MFY2021: Dividends −$2.9M$151MFY2021FY2022: Operating cash flow $77.9MFY2022: Net borrowing $101MFY2022: Shares issued $35.6MFY2022: Asset sales $10.6MFY2022: Acquisitions −$21.8MFY2022: Buybacks −$75.7MFY2022: Dividends −$3.5M$225MFY2022FY2023: Operating cash flow $71.5MFY2023: Net borrowing −$12.8MFY2023: Shares issued $41.2MFY2023: Asset sales $12.2MFY2023: Acquisitions −$21.5MFY2023: Buybacks −$78.1MFY2023: Dividends −$3.9M$125MFY2023FY2024: Operating cash flow $145MFY2024: Net borrowing $71.3MFY2024: Shares issued $39.9MFY2024: Asset sales $9.0MFY2024: Acquisitions −$18.6MFY2024: Buybacks −$76.1MFY2024: Dividends −$4.2M$265MFY2024FY2025: Operating cash flow $155MFY2025: Net borrowing −$96.8MFY2025: Shares issued $52.3MFY2025: Asset sales $8.4MFY2025: Acquisitions −$7.4MFY2025: Buybacks −$97.8MFY2025: Dividends −$4.3M$215MFY2025
Over these 5 years operating cash flow totalled $524M; the largest uses were buybacks ($379M) and net borrowing ($110M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$24.0M
Debt$554M
Net debt$530M
Due within a year$112M

Davey Tree Expert funds itself: free cash flow was $145M over the last twelve months, and $24.0M of cash and investments stands against $554M of debt ($112M due within a year, 0.2× covered by cash).

Davey Tree Expert: debt maturities by year (FY2025)Davey Tree Expert: debt maturities by year (FY2025)$112MYear 1$47.4MYear 2$45.5MYear 3$125MYear 4$100MYear 5
Principal due in each year as disclosed in the annual report, against $24.0M of cash and investments now.

Where the cash came from and went

Davey Tree Expert: sources (+) and uses (−) of cash, Q2 2026Davey Tree Expert: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$51.5MBuybacks−$43.6MOther investing−$38.9MShares issued$20.9MNet borrowing (+) / repaid (−)$15.0MOther financing−$13.0MReal estate bought$4.3MCash drawn (+) / kept (−)$4.2MAsset & business sales$1.3MDividends−$1.2MAcquisitions−$498KExchange rates−$16K
Davey Tree Expert: sources (+) and uses (−) of cash, TTM to Q2 2026Davey Tree Expert: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$145MOther investing−$135MBuybacks−$105MOther financing$96.5MShares issued$45.9MReal estate bought−$23.5MAcquisitions−$18.8MAsset & business sales$7.4MDividends−$4.6MNet borrowing (+) / repaid (−)−$4.0MCash drawn (+) / kept (−)−$3.9MNot reconciled−$62K

From profit to cash

Davey Tree Expert: net income to operating cash flow, Q2 2026Davey Tree Expert: net income to operating cash flow, Q2 2026Net income$24.7MDepreciation & amortization$23.1MStock-based pay$2.2MGains on disposals−$2.1MOther non-cash−$252KReceivables−$26.1MInventory$4.2MPayables$5.0MPrepaid and other assets$11.2MOther operating capital$7.0MOperating cash flow$51.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$51.5M−$498K−$43.6M−$1.2M$15.0M$20.9M$4.2M$51.5M
Q1 2026−$18.0M−$11.0M−$13.3M−$1.2M$137M$4.5M−$15.8M−$18.0M
Q4 2025$80.1M−$1.3M−$37.3M−$1.0M−$120K$15.5M$9.5M$80.1M
Q3 2025$31.1M−$6.1M−$10.5M−$1.2M−$156M$5.0M−$1.7M$31.1M
Q2 2025$47.7M—−$41.2M−$1.0M$19.9M$25.3M−$8.4M$47.7M
Q1 2025−$4.4M—−$8.9M−$1.0M$39.0M$6.6M$5.7M−$4.4M
Q4 2024$34.7M$118K−$27.1M−$1.0M$6.9M$7.7M$152K$34.7M
Q3 2024$32.6M−$2.6M−$8.9M−$1.1M$8.2M$5.3M−$1.2M$32.6M

Davey Tree Expert: income statement and cash flow

Davey Tree Expert, Q2 2026: revenue $519M (+1% year over year), operating margin 8.2%. The chart follows the revenue to costs, profit and cash.

Davey Tree Expert: 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.