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Credo Technology Group Holding cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$82.9M in Q1 FY27 · $439M over twelve months

Operating cash flow$90.2M
Capital spending−$7.3M
Free cash flow+$82.9M
Cash / net income0.7×
Cash conversion cycle145 days

Analysis

In Q1 FY27, Credo Technology Group Holding generated $90.2M of operating cash flow and spent $7.3M on capital projects, leaving free cash flow of $82.9M.

Over the twelve months to Aug 1, 2026, operating cash flow was $500M; the largest uses were acquisitions ($849M), capital spending ($61.8M), taxes on employees’ shares ($41.4M); besides operations, cash came from other financing ($728M), shares issued ($6.9M); the cash balance rose by $247M.

Operating cash flow was $90.2M against net income of $129M — 0.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: stock-based pay +$88.0M, inventory −$61.5M, receivables −$54.5M.

Its cash conversion cycle was 145 days (receivables 50 + inventory 151 − payables 56).

Free cash flow

Credo Technology Group Holding: free cash flow by quarterCredo Technology Group Holding: free cash flow by quarter−$11.7MQ2 FY25−$383KQ3 FY25$54.2MQ4 FY25$51.3MQ1 FY26$38.5MQ2 FY26$140MQ3 FY26$177MQ4 FY26$82.9MQ1 FY27
Operating cash flow less capital spending.
Credo Technology Group Holding: operating cash flow against capital spendingCredo Technology Group Holding: operating cash flow against capital spendingOperating cash flowCapital spending$10.3M$21.9MQ2 FY25$4.2M$4.6MQ3 FY25$57.8M$3.7MQ4 FY25$54.2M$2.8MQ1 FY26$61.7M$23.2MQ2 FY26$166M$26.5MQ3 FY26$182M$4.8MQ4 FY26$90.2M$7.3MQ1 FY27
Latest (Q1 FY27): Operating cash flow $90.2M, Capital spending $7.3M.

Capital allocation, year by year

Credo Technology Group Holding: where the cash came from (up) and went (down), by fiscal yearCredo Technology Group Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsFY22: Operating cash flow −$30.8MFY22: Shares issued $204MFY22: Capital spending −$17.6M$204MFY22FY23: Operating cash flow −$24.6MFY23: Shares issued $5.5MFY23: Capital spending −$21.7M$5.5MFY23FY24: Operating cash flow $32.7MFY24: Shares issued $180MFY24: Capital spending −$15.7M$213MFY24FY25: Operating cash flow $65.1MFY25: Shares issued $7.8MFY25: Capital spending −$36.1M$72.9MFY25FY26: Operating cash flow $464MFY26: Shares issued $743MFY26: Capital spending −$57.3MFY26: Acquisitions −$113M$1.2BFY26
Over these 5 years operating cash flow totalled $507M; the largest uses were capital spending ($148M) and acquisitions ($113M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$764M
Debtnone
Net cash$764M

Credo Technology Group Holding funds itself: free cash flow was $439M over the last twelve months, with $764M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Credo Technology Group Holding: sources (+) and uses (−) of cash, Q1 FY27Credo Technology Group Holding: sources (+) and uses (−) of cash, Q1 FY27Acquisitions−$736MCash drawn (+) / kept (−)$698MOperating cash flow$90.2MTaxes on employees’ shares−$25.9MOther investing−$19.1MCapital spending−$7.3MOther financing−$5.2MShares issued$4.5MExchange rates$300K
Credo Technology Group Holding: sources (+) and uses (−) of cash, TTM to Q1 FY27Credo Technology Group Holding: sources (+) and uses (−) of cash, TTM to Q1 FY27Acquisitions−$849MOther financing$728MOperating cash flow$500MCash drawn (+) / kept (−)−$247MCapital spending−$61.8MTaxes on employees’ shares−$41.4MOther investing−$37.4MShares issued$6.9MExchange rates$600K

From profit to cash

Credo Technology Group Holding: net income to operating cash flow, Q1 FY27Credo Technology Group Holding: net income to operating cash flow, Q1 FY27Net income$129MDepreciation & amortization$8.6MStock-based pay$88.0MReceivables−$54.5MInventory−$61.5MPayables−$12.6MPrepaid and other assets−$25.3MOperating cash flow$90.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY275015156145
Q4 FY265015066134
Q3 FY265512756126
Q2 FY267214062150
Q1 FY267012969130
Q4 FY258511776126
Q3 FY25818346117
Q2 FY259711688125

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsShares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$90.2M−$7.3M−$736M$4.5M$698M$82.9M
Q4 FY26$182M−$4.8M−$30.3M$484K$55.5M$177M
Q3 FY26$166M−$26.5M—$353M−$653M$140M
Q2 FY26$61.7M−$23.2M−$82.6M$529K−$348M$38.5M
Q1 FY26$54.2M−$2.8M—$4.6M$16.7M$51.3M
Q4 FY25$57.8M−$3.7M—$1.0M$62.9M$54.2M
Q3 FY25$4.2M−$4.6M—$2.4M−$60.0M−$383K
Q2 FY25$10.3M−$21.9M—$871K−$135M−$11.7M

Credo Technology Group Holding: income statement and cash flow

Credo Technology Group Holding, Q1 FY27: revenue $479M (+115% year over year), operating margin 25.2%. The chart follows the revenue to costs, profit and cash.

Credo Technology Group Holding: 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.