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Cannae Holdings cash flow, quarter by quarter

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

Free cash flow−$8.3M in Q2 2026 · −$43.4M over twelve months

Operating cash flow−$5.2M
Capital spending−$3.1M
Free cash flow−$8.3M
Cash / net income-0.2×
Cash conversion cycle-87 days

Analysis

In Q2 2026, Cannae Holdings generated −$5.2M of operating cash flow and spent $3.1M on capital projects, leaving free cash flow of −$8.3M. That is $15.3M more than in Q2 2025 (−$23.6M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$32.0M; the largest uses were buybacks ($254M), net borrowing (+) / repaid (−) ($98.5M), operating cash flow ($32.0M); besides operations, cash came from other investing ($431M); the cash balance rose by $5.3M.

Operating cash flow was −$5.2M against net income of $28.4M — -0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: impairments +$32.1M, income taxes payable +$2.5M, depreciation & amortization +$2.4M.

Its cash conversion cycle was -87 days (receivables 6 + inventory 0 − payables 93): suppliers fund its working capital.

Free cash flow

Cannae Holdings: free cash flow by quarterCannae Holdings: free cash flow by quarter−$33.6MQ3 2024−$14.4MQ4 2024$7.2MQ1 2025−$23.6MQ2 2025−$24.1MQ3 2025$12.0MQ4 2025−$23.0MQ1 2026−$8.3MQ2 2026
Operating cash flow less capital spending.
Cannae Holdings: operating cash flow against capital spendingCannae Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$31.9M$1.7MQ3 2024−$12.0M$2.4MQ4 2024$9.1M$1.9MQ1 2025−$21.6M$2.0MQ2 2025−$21.6M$2.5MQ3 2025$16.0M$4.0MQ4 2025−$21.2M$1.8MQ1 2026−$5.2M$3.1MQ2 2026
Latest (Q2 2026): Operating cash flow −$5.2M, Capital spending $3.1M.

Capital allocation, year by year

Cannae Holdings: where the cash came from (up) and went (down), by fiscal yearCannae Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow −$176MFY2021: Net borrowing −$29.8MFY2021: Asset sales $73.6MFY2021: Capital spending −$13.7MFY2021: Buybacks −$160M$73.6MFY2021FY2022: Operating cash flow −$205MFY2022: Net borrowing $83.4MFY2022: Asset sales $9.2MFY2022: Capital spending −$14.3MFY2022: Buybacks −$230M$92.6MFY2022FY2023: Operating cash flow −$87.8MFY2023: Net borrowing $7.3MFY2023: Asset sales $7.3MFY2023: Capital spending −$10.0MFY2023: Buybacks −$113M$14.6MFY2023FY2024: Operating cash flow −$90.1MFY2024: Net borrowing $74.8MFY2024: Asset sales $6.8MFY2024: Capital spending −$7.0MFY2024: Buybacks −$231MFY2024: Dividends −$22.4M$81.6MFY2024FY2025: Operating cash flow −$18.1MFY2025: Net borrowing −$97.8MFY2025: Asset sales $1.7MFY2025: Capital spending −$10.4MFY2025: Buybacks −$320MFY2025: Dividends −$30.5M$1.7MFY2025
Over these 5 years operating cash flow totalled −$577M; the largest uses were buybacks ($1.1B) and operating cash flow ($577M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$70.4M
Debt$69.9M
Net cash$500K
Due within a year$6.9M
Cash runway19 months

Cannae Holdings is burning cash: its operations consume cash, a free cash flow of −$43.4M a year at the current rate against $70.4M of cash and investments: a runway of about 19 months; $6.9M of debt also comes due within a year, which the cash covers before any new financing.

Cannae Holdings: debt maturities by year (FY2025)Cannae Holdings: debt maturities by year (FY2025)$6.9MYear 1$700KYear 2$600KYear 3$1.7MYear 4$47.9MYear 5$13.3MAfter year 5
Principal due in each year as disclosed in the annual report, against $70.4M of cash and investments now.

Where the cash came from and went

Cannae Holdings: sources (+) and uses (−) of cash, Q2 2026Cannae Holdings: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$63.7MBuybacks−$32.2MOther investing−$16.1MDividends−$6.6MOperating cash flow−$5.2MCapital spending−$3.1MNet borrowing (+) / repaid (−)−$400KTaxes on employees’ shares−$100K
Cannae Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Cannae Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Other investing$431MBuybacks−$254MNet borrowing (+) / repaid (−)−$98.5MOperating cash flow−$32.0MDividends−$28.6MCapital spending−$11.4MCash drawn (+) / kept (−)−$5.3MTaxes on employees’ shares−$1.3MOther financing−$200K

From profit to cash

Cannae Holdings: net income to operating cash flow, Q2 2026Cannae Holdings: net income to operating cash flow, Q2 2026Net income$28.4MDepreciation & amortization$2.4MStock-based pay$2.0MImpairments$32.1MPrepaid and other assets$1.2MIncome taxes payable$2.5MOperating cash flow−$5.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20266—93-87
Q1 20267—96-89
Q3 20255—97-92
Q2 20254—72-67
Q1 20256—54-48
Q3 20244—62-58

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026−$5.2M−$3.1M−$32.2M−$6.6M−$400K$63.7M−$8.3M
Q1 2026−$21.2M−$1.8M−$14.7M−$6.9M−$400K$46.3M−$23.0M
Q4 2025$16.0M−$4.0M−$87.1M−$7.1M$2.1M$51.8M$12.0M
Q3 2025−$21.6M−$2.5M−$120M−$8.0M−$99.8M−$167M−$24.1M
Q2 2025−$21.6M−$2.0M−$113M−$7.8M−$1.9M$59.5M−$23.6M
Q1 2025$9.1M−$1.9M—−$7.6M$1.8M$5.3M$7.2M
Q4 2024−$12.0M−$2.4M−$200K−$7.5M−$300K$29.2M−$14.4M
Q3 2024−$31.9M−$1.7M$200K−$7.4M$102M−$115M−$33.6M

Cannae Holdings: income statement and cash flow

Cannae Holdings, Q2 2026: revenue $102M (-7% year over year), operating margin -55.6%. The chart follows the revenue to costs, profit and cash.

Cannae Holdings: 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.