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Capri Holdings cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$36.0M in Q2 FY27 · $184M over twelve months

Operating cash flow$51.0M
Capital spending−$15.0M
Free cash flow+$36.0M
Cash / net income1.9×
Cash conversion cycle114 days

Analysis

In Q2 FY27, Capri Holdings generated $51.0M of operating cash flow and spent $15.0M on capital projects, leaving free cash flow of $36.0M.

Over the twelve months to Sep 26, 2026, operating cash flow was $261M; the largest uses were net borrowing (+) / repaid (−) ($1.3B), buybacks ($283M), capital spending ($77.0M); besides operations, cash came from other investing ($1.3B); the cash balance fell by $95.0M.

Operating cash flow was $51.0M against net income of $27.0M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: inventory −$84.0M, prepaid and other assets +$48.0M, payables +$43.0M.

Its cash conversion cycle was 114 days (receivables 23 + inventory 205 − payables 114).

Free cash flow

Capri Holdings: free cash flow by quarterCapri Holdings: free cash flow by quarter$287MQ3 FY25−$177MQ4 FY25−$21.0MQ1 FY26−$65.0MQ2 FY26$183MQ3 FY26−$83.0MQ4 FY26$48.0MQ1 FY27$36.0MQ2 FY27
Operating cash flow less capital spending.
Capri Holdings: operating cash flow against capital spendingCapri Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$309M$22.0MQ3 FY25−$161M$16.0MQ4 FY25−$8.0M$13.0MQ1 FY26−$52.0M$13.0MQ2 FY26$202M$19.0MQ3 FY26−$65.0M$18.0MQ4 FY26$73.0M$25.0MQ1 FY27$51.0M$15.0MQ2 FY27
Latest (Q2 FY27): Operating cash flow $51.0M, Capital spending $15.0M.

Capital allocation, year by year

Capri Holdings: where the cash came from (up) and went (down), by fiscal yearCapri Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $704MFY22: Net borrowing −$187MFY22: Shares issued $17.0MFY22: Capital spending −$131MFY22: Buybacks −$661M$721MFY22FY23: Operating cash flow $771MFY23: Net borrowing $587MFY23: Shares issued $6.0MFY23: Capital spending −$226MFY23: Buybacks −$1.4B$1.4BFY23FY24: Operating cash flow $309MFY24: Net borrowing −$102MFY24: Shares issued $1.0MFY24: Capital spending −$135MFY24: Buybacks −$107M$310MFY24FY25: Operating cash flow $281MFY25: Net borrowing −$218MFY25: Capital spending −$74.0MFY25: Acquisitions −$9.0MFY25: Buybacks −$4.0M$281MFY25FY26: Operating cash flow $77.0MFY26: Net borrowing −$1.2BFY26: Capital spending −$63.0MFY26: Buybacks −$81.0M$77.0MFY26
Over these 5 years operating cash flow totalled $2.1B; the largest uses were buybacks ($2.2B) and net borrowing ($1.7B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$125M
Debt$376M
Net debt$251M
Due within a year$38.0M

Capri Holdings funds itself: free cash flow was $184M over the last twelve months, and $125M of cash and investments stands against $376M of debt ($38.0M due within a year, 3.3× covered by cash).

Where the cash came from and went

Capri Holdings: sources (+) and uses (−) of cash, Q2 FY27Capri Holdings: sources (+) and uses (−) of cash, Q2 FY27Buybacks−$150MNet borrowing (+) / repaid (−)$122MOperating cash flow$51.0MCapital spending−$15.0MCash drawn (+) / kept (−)−$11.0MExchange rates$4.0MOther financing−$1.0M
Capri Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Capri Holdings: sources (+) and uses (−) of cash, TTM to Q2 FY27Net borrowing (+) / repaid (−)−$1.3BOther investing$1.3BBuybacks−$283MOperating cash flow$261MCash drawn (+) / kept (−)$95.0MCapital spending−$77.0MExchange rates$23.0MOther financing−$5.0M

From profit to cash

Capri Holdings: net income to operating cash flow, Q2 FY27Capri Holdings: net income to operating cash flow, Q2 FY27Net income$27.0MDepreciation & amortization$30.0MStock-based pay$7.0MImpairments$12.0MOther non-cash$1.0MReceivables−$36.0MInventory−$84.0MPayables$43.0MAccrued liabilities$9.0MPrepaid and other assets$48.0MOther operating capital$3.0MOperating cash flow$51.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2723205114114
Q1 FY2724204112116
Q4 FY2623202107118
Q3 FY26181628199
Q2 FY2621210105126
Q1 FY2622228121130
Q4 FY2527218125120
Q3 FY2524217116125

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 FY27$51.0M−$15.0M−$150M$122M−$11.0M$36.0M
Q1 FY27$73.0M−$25.0M−$54.0M−$19.0M$20.0M$48.0M
Q4 FY26−$65.0M−$18.0M−$79.0M$123M$19.0M−$83.0M
Q3 FY26$202M−$19.0M—−$1.5B$67.0M$183M
Q2 FY26−$52.0M−$13.0M−$1.0M$94.0M−$21.0M−$65.0M
Q1 FY26−$8.0M−$13.0M−$1.0M$95.0M−$35.0M−$21.0M
Q4 FY25−$161M−$16.0M—−$12.0M$190M−$177M
Q3 FY25$309M−$22.0M—−$145M−$174M$287M

Capri Holdings: income statement and cash flow

Capri Holdings, Q2 FY27: revenue $809M (-6% year over year), operating margin 1.2%. The chart follows the revenue to costs, profit and cash.

Capri 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.