Filing Flows

Filing Flows › Companies › Carter's › Cash flow

Carter's cash flow, quarter by quarter

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

Free cash flow−$117M in Q3 2026 · $320M over twelve months

Operating cash flow−$100M
Capital spending−$16.9M
Free cash flow−$117M
Cash / net income-2.7×
Cash conversion cycle91 days

Analysis

In Q3 2026, Carter's generated −$100M of operating cash flow and spent $16.9M on capital projects, leaving free cash flow of −$117M.

Over the twelve months to Oct 3, 2026, operating cash flow was $360M; the largest uses were other investing ($75.0M), capital spending ($40.7M), dividends ($36.6M); besides operations, cash came from other financing ($59.4M); the cash balance rose by $267M.

Operating cash flow was −$100M against net income of $36.6M — -2.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables −$79.7M, receivables −$65.0M, inventory −$14.5M.

Its cash conversion cycle was 91 days (receivables 24 + inventory 133 − payables 66).

Free cash flow

Carter's: free cash flow by quarterCarter's: free cash flow by quarter$271MQ4 2024−$59.0MQ1 2025$24.1MQ2 2025−$144MQ3 2025$248MQ4 2025−$543KQ1 2026$190MQ2 2026−$117MQ3 2026
Operating cash flow less capital spending.
Carter's: operating cash flow against capital spendingCarter's: operating cash flow against capital spendingOperating cash flowCapital spending$287M$16.5MQ4 2024−$48.6M$10.3MQ1 2025$40.3M$16.2MQ2 2025−$128M$16.1MQ3 2025$259M$11.0MQ4 2025$6.4M$7.0MQ1 2026$196M$5.8MQ2 2026−$100M$16.9MQ3 2026
Latest (Q3 2026): Operating cash flow −$100M, Capital spending $16.9M.

Capital allocation, year by year

Carter's: where the cash came from (up) and went (down), by fiscal yearCarter's: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $268MFY2021: Shares issued $11.0MFY2021: Capital spending −$37.4MFY2021: Buybacks −$299MFY2021: Dividends −$60.1M$279MFY2021FY2022: Operating cash flow $88.4MFY2022: Net borrowing −$260MFY2022: Shares issued $4.5MFY2022: Capital spending −$40.4MFY2022: Buybacks −$300MFY2022: Dividends −$118M$92.8MFY2022FY2023: Operating cash flow $529MFY2023: Net borrowing $70.0MFY2023: Shares issued $4.4MFY2023: Capital spending −$59.9MFY2023: Buybacks −$100MFY2023: Dividends −$112M$604MFY2023FY2024: Operating cash flow $299MFY2024: Shares issued $367KFY2024: Capital spending −$56.2MFY2024: Buybacks −$50.5MFY2024: Dividends −$116M$299MFY2024FY2025: Operating cash flow $122MFY2025: Net borrowing $75.0MFY2025: Capital spending −$53.7MFY2025: Dividends −$56.4M$197MFY2025
Over these 5 years operating cash flow totalled $1.3B; the largest uses were buybacks ($750M) and dividends ($463M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$526M
Debt$568M
Net debt$42.2M

Carter's funds itself: free cash flow was $320M over the last twelve months, and $526M of cash and investments stands against $568M of debt.

Where the cash came from and went

Carter's: sources (+) and uses (−) of cash, Q3 2026Carter's: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$203MOperating cash flow−$100MOther investing−$75.0MCapital spending−$16.9MDividends−$9.1MTaxes on employees’ shares−$738KExchange rates−$404K
Carter's: sources (+) and uses (−) of cash, TTM to Q3 2026Carter's: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$360MCash drawn (+) / kept (−)−$267MOther investing−$75.0MOther financing$59.4MCapital spending−$40.7MDividends−$36.6MExchange rates−$851K

From profit to cash

Carter's: net income to operating cash flow, Q3 2026Carter's: net income to operating cash flow, Q3 2026Net income$36.6MDepreciation & amortization$11.9MStock-based pay$3.6MDeferred taxes$504KGains on investments−$400KReceivables−$65.0MInventory−$14.5MPayables−$79.7MPrepaid and other assets−$2.4MOperating cash flow−$100M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026241336691
Q2 202627234115146
Q3 20252313960102
Q2 20252716476115

Every quarter

QuarterOperating cash flowCapital spendingDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026−$100M−$16.9M−$9.1M$203M−$117M
Q2 2026$196M−$5.8M−$9.1M−$180M$190M
Q1 2026$6.4M−$7.0M−$9.2M$13.6M−$543K
Q4 2025$259M−$11.0M−$9.1M−$303M$248M
Q3 2025−$128M−$16.1M−$9.1M$154M−$144M
Q2 2025$40.3M−$16.2M−$9.1M−$17.4M$24.1M
Q1 2025−$48.6M−$10.3M−$29.0M$92.1M−$59.0M
Q4 2024$287M−$16.5M−$28.8M−$237M$271M

Carter's: income statement and cash flow

Carter's, Q3 2026: revenue $752M (-0.7% year over year), operating margin 7.4%. The chart follows the revenue to costs, profit and cash.

Carter's: 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.