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CTS cash flow, quarter by quarter

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

Free cash flow$41.1M in Q3 2026 · $108M over twelve months

Operating cash flow$43.5M
Capital spending−$2.4M
Free cash flow+$41.1M
Cash / net income2.5×
Cash conversion cycle68 days

Analysis

In Q3 2026, CTS generated $43.5M of operating cash flow and spent $2.4M on capital projects, leaving free cash flow of $41.1M. That is $16.9M more than in Q3 2025 ($24.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $123M; the largest uses were net borrowing (+) / repaid (−) ($35.7M), buybacks ($31.9M), capital spending ($15.2M); besides operations, cash came from other investing ($105K); the cash balance rose by $33.6M.

Operating cash flow was $43.5M against net income of $17.8M — 2.5× profit, cash ran ahead of reported earnings. The largest differences: other liabilities +$13.2M, depreciation & amortization +$8.7M, deferred taxes +$4.8M.

Its cash conversion cycle was 68 days (receivables 57 + inventory 65 − payables 54).

Free cash flow

CTS: free cash flow by quarterCTS: free cash flow by quarter$18.8MQ4 2024$11.1MQ1 2025$25.1MQ2 2025$24.2MQ3 2025$26.0MQ4 2025$12.3MQ1 2026$28.9MQ2 2026$41.1MQ3 2026
Operating cash flow less capital spending.
CTS: operating cash flow against capital spendingCTS: operating cash flow against capital spendingOperating cash flowCapital spending$24.9M$6.1MQ4 2024$15.5M$4.5MQ1 2025$28.4M$3.3MQ2 2025$29.0M$4.8MQ3 2025$29.2M$3.2MQ4 2025$17.3M$5.0MQ1 2026$33.4M$4.6MQ2 2026$43.5M$2.4MQ3 2026
Latest (Q3 2026): Operating cash flow $43.5M, Capital spending $2.4M.

Capital allocation, year by year

CTS: where the cash came from (up) and went (down), by fiscal yearCTS: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $86.1MFY2021: Net borrowing −$4.6MFY2021: Capital spending −$15.6MFY2021: Acquisitions −$255KFY2021: Buybacks −$8.8MFY2021: Dividends −$5.2M$86.1MFY2021FY2022: Operating cash flow $121MFY2022: Net borrowing $33.6MFY2022: Capital spending −$14.3MFY2022: Acquisitions −$96.9MFY2022: Buybacks −$21.4MFY2022: Dividends −$5.1M$155MFY2022FY2023: Operating cash flow $88.8MFY2023: Net borrowing −$16.2MFY2023: Capital spending −$14.7MFY2023: Acquisitions −$3.4MFY2023: Buybacks −$40.9MFY2023: Dividends −$5.0M$88.8MFY2023FY2024: Operating cash flow $98.2MFY2024: Net borrowing $24.8MFY2024: Capital spending −$18.6MFY2024: Acquisitions −$122MFY2024: Buybacks −$42.6MFY2024: Dividends −$4.9M$123MFY2024FY2025: Operating cash flow $102MFY2025: Net borrowing −$34.8MFY2025: Capital spending −$15.7MFY2025: Buybacks −$56.2MFY2025: Dividends −$4.8M$102MFY2025
Over these 5 years operating cash flow totalled $496M; the largest uses were acquisitions ($222M) and buybacks ($170M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$144M
Debtnone
Net cash$144M

CTS funds itself: free cash flow was $108M over the last twelve months, with $144M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

CTS: sources (+) and uses (−) of cash, Q3 2026CTS: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$43.5MCash drawn (+) / kept (−)−$36.3MBuybacks−$3.3MCapital spending−$2.4MDividends−$1.1MExchange rates−$317KTaxes on employees’ shares−$67K
CTS: sources (+) and uses (−) of cash, TTM to Q3 2026CTS: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$123MNet borrowing (+) / repaid (−)−$35.7MCash drawn (+) / kept (−)−$33.6MBuybacks−$31.9MCapital spending−$15.2MDividends−$4.6MTaxes on employees’ shares−$2.0MExchange rates−$625KOther investing$105K

From profit to cash

CTS: net income to operating cash flow, Q3 2026CTS: net income to operating cash flow, Q3 2026Net income$17.8MDepreciation & amortization$8.7MDeferred taxes$4.8MReceivables−$916KInventory−$2.9MPayables$652KPrepaid and other assets−$4.4MOther liabilities$13.2MOperating cash flow$43.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202657655468
Q2 202658635467
Q1 202659595365
Q4 202558595364
Q3 202555585064
Q2 202556615067
Q1 202557604969
Q4 202460635172

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$43.5M−$2.4M−$3.3M−$1.1M—−$36.3M$41.1M
Q2 2026$33.4M−$4.6M−$3.4M−$1.1M−$7.5M−$16.7M$28.9M
Q1 2026$17.3M−$5.0M−$8.6M−$1.2M$5.0M−$8.6M$12.3M
Q4 2025$29.2M−$3.2M−$16.6M−$1.2M−$33.2M$28.0M$26.0M
Q3 2025$29.0M−$4.8M−$16.6M−$1.2M$2.7M−$10.9M$24.2M
Q2 2025$28.4M−$3.3M−$16.5M−$1.2M$1.3M−$9.2M$25.1M
Q1 2025$15.5M−$4.5M−$6.5M−$1.2M−$5.6M$4.0M$11.1M
Q4 2024$24.9M−$6.1M−$7.8M−$1.2M−$10.4M$541K$18.8M

CTS: income statement and cash flow

CTS, Q3 2026: revenue $150M (+5% year over year), operating margin 17.1%. The chart follows the revenue to costs, profit and cash.

CTS: 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.