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Centerspace cash flow, quarter by quarter

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

Free cash flow$14.8M in Q3 2026 · $48.6M over twelve months

Operating cash flow$20.6M
Capital spending−$5.9M
Free cash flow+$14.8M
Cash / net income0.1×

Analysis

In Q3 2026, Centerspace generated $20.6M of operating cash flow and spent $5.9M on capital projects, leaving free cash flow of $14.8M. That is $35.4M more than in Q3 2025 (−$20.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $77.5M; the largest uses were net borrowing (+) / repaid (−) ($333M), dividends ($51.6M), capital spending ($28.9M); besides operations, cash came from other investing ($407M); the cash balance rose by $53.2M.

Operating cash flow was $20.6M against net income of $144M — 0.1× profit, less cash than reported earnings, worth checking against working capital. The largest differences: gains on investments −$150M, depreciation & amortization +$23.4M, prepaid and other assets +$1.1M.

Free cash flow

Centerspace: free cash flow by quarterCenterspace: free cash flow by quarter$9.4MQ4 2024$20.4MQ1 2025−$124MQ2 2025−$20.7MQ3 2025$2.7MQ4 2025$16.1MQ1 2026$15.1MQ2 2026$14.8MQ3 2026
Operating cash flow less capital spending.
Centerspace: operating cash flow against capital spendingCenterspace: operating cash flow against capital spendingOperating cash flowCapital spending$18.7M$9.2MQ4 2024$25.4M$5.0MQ1 2025$25.3M$149MQ2 2025$35.1M$55.7MQ3 2025$12.7M$10.0MQ4 2025$21.4M$5.3MQ1 2026$22.7M$7.6MQ2 2026$20.6M$5.9MQ3 2026
Latest (Q3 2026): Operating cash flow $20.6M, Capital spending $5.9M.

Capital allocation, year by year

Centerspace: where the cash came from (up) and went (down), by fiscal yearCenterspace: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY2021: Operating cash flow $84.0MFY2021: Net borrowing $83.6MFY2021: Shares issued $312MFY2021: Capital spending −$31.3MFY2021: Dividends −$38.5M$480MFY2021FY2022: Operating cash flow $92.0MFY2022: Net borrowing $8.5MFY2022: Shares issued $31.4MFY2022: Capital spending −$56.6MFY2022: Buybacks −$29.1MFY2022: Dividends −$44.5M$132MFY2022FY2023: Operating cash flow $89.5MFY2023: Net borrowing −$40.2MFY2023: Capital spending −$58.8MFY2023: Buybacks −$11.5MFY2023: Dividends −$43.7M$89.5MFY2023FY2024: Operating cash flow $98.2MFY2024: Net borrowing $6.5MFY2024: Shares issued $112MFY2024: Capital spending −$56.7MFY2024: Buybacks −$4.7MFY2024: Dividends −$45.8M$217MFY2024FY2025: Operating cash flow $98.5MFY2025: Net borrowing $10.8MFY2025: Capital spending −$34.2MFY2025: Buybacks −$3.5MFY2025: Dividends −$51.1M$109MFY2025
Over these 5 years operating cash flow totalled $462M; the largest uses were capital spending ($238M) and dividends ($224M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$116M
Debt$813M
Net debt$696M
Due within a year$57.4M

Centerspace funds itself: free cash flow was $48.6M over the last twelve months, and $116M of cash and investments stands against $813M of debt ($57.4M due within a year, 2.0× covered by cash).

Centerspace: debt maturities by year (FY2025)Centerspace: debt maturities by year (FY2025)$57.4MYear 1$49.7MYear 2$268MYear 3$97.2MYear 4$89.2MYear 5$492MAfter year 5
Principal due in each year as disclosed in the annual report, against $116M of cash and investments now.

Where the cash came from and went

Centerspace: sources (+) and uses (−) of cash, Q3 2026Centerspace: sources (+) and uses (−) of cash, Q3 2026Other investing$286MNet borrowing (+) / repaid (−)−$179MCash drawn (+) / kept (−)−$109MOperating cash flow$20.6MDividends−$12.9MCapital spending−$5.9MOther financing−$786KTaxes on employees’ shares−$69K
Centerspace: sources (+) and uses (−) of cash, TTM to Q3 2026Centerspace: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$407MNet borrowing (+) / repaid (−)−$333MOperating cash flow$77.5MCash drawn (+) / kept (−)−$53.2MDividends−$51.6MCapital spending−$28.9MOther financing−$12.6MBuybacks−$2.5MTaxes on employees’ shares−$1.7M

From profit to cash

Centerspace: net income to operating cash flow, Q3 2026Centerspace: net income to operating cash flow, Q3 2026Net income$144MDepreciation & amortization$23.4MStock-based pay$1.1MImpairments$268KGains on investments−$150MOther non-cash$899KPayables$1.0MPrepaid and other assets$1.1MOperating cash flow$20.6M
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$20.6M−$5.9M—−$12.9M−$179M—−$109M$14.8M
Q2 2026$22.7M−$7.6M—−$12.9M−$26.7M—−$178K$15.1M
Q1 2026$21.4M−$5.3M—−$12.9M−$6.1M—$5.4M$16.1M
Q4 2025$12.7M−$10.0M—−$12.9M−$123M—$50.2M$2.7M
Q3 2025$35.1M−$55.7M−$3.5M−$12.9M−$20.5M—−$47.6M−$20.7M
Q2 2025$25.3M−$149M—−$12.9M$155M—−$133K−$124M
Q1 2025$25.4M−$5.0M—−$12.4M−$532K—−$4.9M$20.4M
Q4 2024$18.7M−$9.2M—−$12.4M—−$147K$4.1M$9.4M

Centerspace: income statement and cash flow

Centerspace, Q3 2026: revenue $59.5M (-17% year over year), operating margin 254.5%. The chart follows the revenue to costs, profit and cash.

Centerspace: 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.