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CNH Industrial N.V. cash flow, quarter by quarter

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

Free cash flow$145M in Q2 2026 · $1.8B over twelve months

Operating cash flow$145M
Free cash flow+$145M
Cash / net income1.0×

Analysis

In Q2 2026, CNH Industrial N.V. generated $145M of operating cash flow. That is $627M less than in Q2 2025 ($772M).

Over the twelve months to Jun 30, 2026, operating cash flow was $1.8B; the largest uses were net borrowing (+) / repaid (−) ($1.5B), other investing ($685M), other financing ($157M); the cash balance fell by $683M.

Operating cash flow was $145M against net income of $141M — 1.0× profit, roughly in line with earnings. The largest differences: receivables −$329M, inventory +$130M, other non-cash +$115M.

Free cash flow

CNH Industrial N.V.: free cash flow by quarterCNH Industrial N.V.: free cash flow by quarter$791MQ3 2024$1.7BQ4 2024$162MQ1 2025$772MQ2 2025$659MQ3 2025$945MQ4 2025$35.0MQ1 2026$145MQ2 2026
Operating cash flow less capital spending.
CNH Industrial N.V.: operating cash flow against capital spendingCNH Industrial N.V.: operating cash flow against capital spendingOperating cash flowCapital spending$791M$0Q3 2024$1.7B$0Q4 2024$162M$0Q1 2025$772M$0Q2 2025$659M$0Q3 2025$945M$0Q4 2025$35.0M$0Q1 2026$145M$0Q2 2026
Latest (Q2 2026): Operating cash flow $145M, Capital spending $0.

Capital allocation, year by year

CNH Industrial N.V.: where the cash came from (up) and went (down), by fiscal yearCNH Industrial N.V.: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingDividendsFY2021: Operating cash flow $4.1BFY2021: Net borrowing −$1.2BFY2021: Dividends −$188M$4.1BFY2021FY2022: Operating cash flow $557MFY2022: Net borrowing $2.5BFY2022: Dividends −$423M$3.1BFY2022FY2023: Operating cash flow $907MFY2023: Net borrowing $3.8BFY2023: Dividends −$538M$4.7BFY2023FY2024: Operating cash flow $2.0BFY2024: Net borrowing $1.2BFY2024: Dividends −$607M$3.2BFY2024FY2025: Operating cash flow $2.5BFY2025: Net borrowing −$1.6BFY2025: Dividends −$333M$2.5BFY2025
Over these 5 years operating cash flow totalled $10.1B; the largest uses were net borrowing ($2.8B) and dividends ($2.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.9B
Debtnone
Net cash$1.9B

CNH Industrial N.V. funds itself: free cash flow was $1.8B over the last twelve months, with $1.9B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

CNH Industrial N.V.: sources (+) and uses (−) of cash, Q2 2026CNH Industrial N.V.: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$145MNet borrowing (+) / repaid (−)$128MDividends−$126MCash drawn (+) / kept (−)−$125MOther financing−$36.0MOther investing$19.0MExchange rates−$5.0M
CNH Industrial N.V.: sources (+) and uses (−) of cash, TTM to Q2 2026CNH Industrial N.V.: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$1.8BNet borrowing (+) / repaid (−)−$1.5BOther investing−$685MCash drawn (+) / kept (−)$683MOther financing−$157MDividends−$139MExchange rates$1.0M

From profit to cash

CNH Industrial N.V.: net income to operating cash flow, Q2 2026CNH Industrial N.V.: net income to operating cash flow, Q2 2026Net income$141MOther non-cash$115MReceivables−$329MInventory$130MPayables−$21.0MOther operating capital−$30.0MOperating cash flow$145M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$145M−$126M$128M−$125M$145M
Q1 2026$35.0M−$1.0M−$963M$890M$35.0M
Q4 2025$945M−$11.0M−$330M−$273M$945M
Q3 2025$659M−$1.0M−$322M$191M$659M
Q2 2025$772M−$320M$481M−$749M$772M
Q1 2025$162M−$1.0M−$1.4B$1.5B$162M
Q4 2024$1.7B−$7.0M$949M−$1.4B$1.7B
Q3 2024$791M−$6.0M−$122M$197M$791M

CNH Industrial N.V.: income statement and cash flow

CNH Industrial N.V., Q2 2026: revenue $4.8B (+2% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

CNH Industrial N.V.: 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.