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Public Service Co of Colorado cash flow, quarter by quarter

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

Free cash flow−$839M in Q3 2026 · −$4.2B over twelve months

Operating cash flow$625M
Capital spending−$1.5B
Free cash flow−$839M
Cash / net income1.7×

Analysis

In Q3 2026, Public Service Co of Colorado generated $625M of operating cash flow and spent $1.5B on capital projects, leaving free cash flow of −$839M. That is $181M less than in Q3 2025 (−$658M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.7B; the largest uses were capital spending ($5.9B), dividends ($393M); besides operations, cash came from other financing ($2.8B), net borrowing (+) / repaid (−) ($2.1B); the cash balance rose by $320M.

Operating cash flow was $625M against net income of $363M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$315M, other liabilities +$120M, receivables −$95.0M.

Free cash flow

Public Service Co of Colorado: free cash flow by quarterPublic Service Co of Colorado: free cash flow by quarter−$722MQ4 2024−$272MQ1 2025−$836MQ2 2025−$658MQ3 2025−$1.9BQ4 2025−$319MQ1 2026−$1.1BQ2 2026−$839MQ3 2026
Operating cash flow less capital spending.
Public Service Co of Colorado: operating cash flow against capital spendingPublic Service Co of Colorado: operating cash flow against capital spendingOperating cash flowCapital spending$229M$951MQ4 2024$660M$932MQ1 2025$225M$1.1BQ2 2025$698M$1.4BQ3 2025−$204M$1.7BQ4 2025$1.1B$1.4BQ1 2026$243M$1.4BQ2 2026$625M$1.5BQ3 2026
Latest (Q3 2026): Operating cash flow $625M, Capital spending $1.5B.

Capital allocation, year by year

Public Service Co of Colorado: where the cash came from (up) and went (down), by fiscal yearPublic Service Co of Colorado: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingDividendsFY2021: Operating cash flow $727MFY2021: Net borrowing $748MFY2021: Capital spending −$1.6BFY2021: Dividends −$467M$1.5BFY2021FY2022: Operating cash flow $1.3BFY2022: Net borrowing $532MFY2022: Capital spending −$1.9BFY2022: Dividends −$491M$1.8BFY2022FY2023: Operating cash flow $2.0BFY2023: Net borrowing $610MFY2023: Capital spending −$2.4BFY2023: Dividends −$652M$2.6BFY2023FY2024: Operating cash flow $1.9BFY2024: Net borrowing $949MFY2024: Capital spending −$3.1BFY2024: Dividends −$616M$2.9BFY2024FY2025: Operating cash flow $1.4BFY2025: Net borrowing $1.9BFY2025: Capital spending −$5.1BFY2025: Dividends −$376M$3.3BFY2025
Over these 5 years operating cash flow totalled $7.2B; the largest uses were capital spending ($14.0B) and dividends ($2.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$914M
Debt$12.5B
Net debt$11.5B

Public Service Co of Colorado's operations bring cash in ($1.7B over twelve months), and it spends more than that on capital projects: a gap of $4.2B funded from its $914M of cash and investments and from borrowing ($12.5B of debt). That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Public Service Co of Colorado: sources (+) and uses (−) of cash, Q3 2026Public Service Co of Colorado: sources (+) and uses (−) of cash, Q3 2026Capital spending−$1.5BOther financing$851MNet borrowing (+) / repaid (−)$790MCash drawn (+) / kept (−)−$668MOperating cash flow$625MDividends−$134M
Public Service Co of Colorado: sources (+) and uses (−) of cash, TTM to Q3 2026Public Service Co of Colorado: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$5.9BOther financing$2.8BNet borrowing (+) / repaid (−)$2.1BOperating cash flow$1.7BDividends−$393MCash drawn (+) / kept (−)−$320M

From profit to cash

Public Service Co of Colorado: net income to operating cash flow, Q3 2026Public Service Co of Colorado: net income to operating cash flow, Q3 2026Net income$363MDepreciation & amortization$315MDeferred taxes$25.0MReceivables−$95.0MInventory−$76.0MPayables$3.0MEmployee-related liabilities$1.0MPrepaid and other assets$15.0MOther liabilities$120MOperating cash flow$625M
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
Q3 2026$625M−$1.5B−$134M$790M−$668M−$839M
Q2 2026$243M−$1.4B−$144M—$568M−$1.1B
Q1 2026$1.1B−$1.4B−$75.0M$1.0B−$798M−$319M
Q4 2025−$204M−$1.7B−$40.0M$260M$578M−$1.9B
Q3 2025$698M−$1.4B−$119M$989M−$542M−$658M
Q2 2025$225M−$1.1B−$128M−$25.0M$589M−$836M
Q1 2025$660M−$932M−$89.0M$928M−$615M−$272M
Q4 2024$229M−$951M−$209M$85.0M$760M−$722M

Public Service Co of Colorado: income statement and cash flow

Public Service Co of Colorado, Q3 2026: revenue $1.5B (+5% year over year), operating margin 28.1%. The chart follows the revenue to costs, profit and cash.

Public Service Co of Colorado: 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.