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Crescent Energy cash flow, quarter by quarter

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

Free cash flow$240M in Q3 2026 · $816M over twelve months

Operating cash flow$608M
Capital spending−$368M
Free cash flow+$240M

Analysis

In Q3 2026, Crescent Energy generated $608M of operating cash flow and spent $368M on capital projects, leaving free cash flow of $240M. That is $17.7M less than in Q3 2025 ($258M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.1B; the largest uses were capital spending ($1.3B), other financing ($1.0B), dividends ($149M); besides operations, cash came from other investing ($514M), buybacks ($358K); the cash balance rose by $7.2M.

Operating cash flow was $608M against net income of −$591K. The largest differences: depreciation & amortization +$375M, other operating capital −$60.8M, stock-based pay +$20.8M.

Free cash flow

Crescent Energy: free cash flow by quarterCrescent Energy: free cash flow by quarter$166MQ4 2024−$528MQ1 2025$222MQ2 2025$258MQ3 2025$111MQ4 2025$57.4MQ1 2026$376MQ2 2026$240MQ3 2026
Operating cash flow less capital spending.
Crescent Energy: operating cash flow against capital spendingCrescent Energy: operating cash flow against capital spendingOperating cash flowCapital spending$384M$218MQ4 2024$337M$865MQ1 2025$499M$277MQ2 2025$473M$215MQ3 2025$371M$260MQ4 2025$409M$352MQ1 2026$707M$331MQ2 2026$608M$368MQ3 2026
Latest (Q3 2026): Operating cash flow $608M, Capital spending $368M.

Capital allocation, year by year

Crescent Energy: where the cash came from (up) and went (down), by fiscal yearCrescent Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $233MFY2021: Net borrowing $491MFY2021: Capital spending −$156MFY2021: Buybacks −$18.4M$724MFY2021FY2022: Operating cash flow $1.0BFY2022: Net borrowing $199MFY2022: Capital spending −$627MFY2022: Dividends −$27.5M$1.2BFY2022FY2023: Operating cash flow $936MFY2023: Net borrowing $985MFY2023: Shares issued $146MFY2023: Capital spending −$849MFY2023: Dividends −$34.1M$2.1BFY2023FY2024: Operating cash flow $1.2BFY2024: Net borrowing $1.4BFY2024: Shares issued $331MFY2024: Capital spending −$686MFY2024: Buybacks −$7.8MFY2024: Dividends −$65.1M$2.9BFY2024FY2025: Operating cash flow $1.7BFY2025: Net borrowing $69.4MFY2025: Capital spending −$951MFY2025: Buybacks −$33.5MFY2025: Dividends −$115M$1.7BFY2025
Over these 5 years operating cash flow totalled $5.1B; the largest uses were capital spending ($3.3B) and dividends ($242M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.1M
Debt$4.7B
Net debt$4.7B

Crescent Energy funds itself: free cash flow was $816M over the last twelve months, and $6.1M of cash and investments stands against $4.7B of debt.

Where the cash came from and went

Crescent Energy: sources (+) and uses (−) of cash, Q3 2026Crescent Energy: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$608MCapital spending−$368MNet borrowing (+) / repaid (−)−$259MCash drawn (+) / kept (−)$259MOther financing−$209MDividends−$39.6MOther investing$10.3MPartners−$901K
Crescent Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Crescent Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.1BCapital spending−$1.3BOther financing−$1.0BOther investing$514MDividends−$149MNet borrowing (+) / repaid (−)−$139MCash drawn (+) / kept (−)−$7.2MPartners−$6.7MBuybacks$358K

From profit to cash

Crescent Energy: net income to operating cash flow, Q3 2026Crescent Energy: net income to operating cash flow, Q3 2026Net income−$591KDepreciation & amortization$375MStock-based pay$20.8MDeferred taxes$2.9MGains on disposals−$6.1MOther operating capital−$60.8MOperating cash flow$608M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$608M−$368M—−$39.6M−$259M—$259M$240M
Q2 2026$707M−$331M—−$39.6M——−$257M$376M
Q1 2026$409M−$352M—−$39.3M$120M—$721M$57.4M
Q4 2025$371M−$260M$358K−$30.6M——−$730M$111M
Q3 2025$473M−$215M—−$30.6M$69.4M—−$2.2M$258M
Q2 2025$499M−$277M−$28.5M−$30.6M——$2.5M$222M
Q1 2025$337M−$865M−$5.3M−$23.5M——$217M−$528M
Q4 2024$384M−$218M−$502K−$19.5M$396M$331M−$62.8M$166M

Crescent Energy: income statement and cash flow

Crescent Energy, Q3 2026: revenue $1.4B (+56% year over year), operating margin 35.4%. The chart follows the revenue to costs, profit and cash.

Crescent Energy: 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.