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Cousins Properties cash flow, quarter by quarter

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

Free cash flow$111M in Q3 2026 · $423M over twelve months

Operating cash flow$111M
Free cash flow+$111M
Cash / net income6.5×

Analysis

In Q3 2026, Cousins Properties generated $111M of operating cash flow. That is $9.2M less than in Q3 2025 ($120M).

Over the twelve months to Sep 30, 2026, operating cash flow was $423M; the largest uses were net borrowing (+) / repaid (−) ($1.2B), other investing ($356M), dividends ($214M); besides operations, cash came from other financing ($1.4B), shares issued ($361K); the cash balance rose by $538K.

Operating cash flow was $111M against net income of $17.0M — 6.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$103M, payables +$8.7M, prepaid and other assets −$8.1M.

Free cash flow

Cousins Properties: free cash flow by quarterCousins Properties: free cash flow by quarter$129MQ4 2024$44.8MQ1 2025$123MQ2 2025$120MQ3 2025$114MQ4 2025$40.5MQ1 2026$157MQ2 2026$111MQ3 2026
Operating cash flow less capital spending.
Cousins Properties: operating cash flow against capital spendingCousins Properties: operating cash flow against capital spendingOperating cash flowCapital spending$129M$0Q4 2024$44.8M$0Q1 2025$123M$0Q2 2025$120M$0Q3 2025$114M$0Q4 2025$40.5M$0Q1 2026$157M$0Q2 2026$111M$0Q3 2026
Latest (Q3 2026): Operating cash flow $111M, Capital spending $0.

Capital allocation, year by year

Cousins Properties: where the cash came from (up) and went (down), by fiscal yearCousins Properties: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $389MFY2021: Net borrowing −$969MFY2021: Asset sales $555MFY2021: Dividends −$183M$945MFY2021FY2022: Operating cash flow $365MFY2022: Net borrowing −$727MFY2022: Shares issued $104MFY2022: Capital spending −$342MFY2022: Dividends −$192M$469MFY2022FY2023: Operating cash flow $368MFY2023: Net borrowing −$254MFY2023: Shares issued $443KFY2023: Capital spending −$280MFY2023: Dividends −$194M$369MFY2023FY2024: Operating cash flow $400MFY2024: Net borrowing −$1.5BFY2024: Capital spending −$253MFY2024: Dividends −$195M$400MFY2024FY2025: Operating cash flow $402MFY2025: Net borrowing −$769MFY2025: Shares issued $46KFY2025: Capital spending −$267MFY2025: Dividends −$216M$402MFY2025
Over these 5 years operating cash flow totalled $1.9B; the largest uses were net borrowing ($4.2B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.2M
Debt$3.6B
Net debt$3.6B
Due within a year$870M

Cousins Properties funds itself: free cash flow was $423M over the last twelve months, and $5.2M of cash and investments stands against $3.6B of debt ($870M due within a year, 0.0× covered by cash).

Cousins Properties: debt maturities by year (FY2025)Cousins Properties: debt maturities by year (FY2025)$870MYear 1$341MYear 2$250MYear 3$275MYear 4$500MYear 5$1.1BAfter year 5
Principal due in each year as disclosed in the annual report, against $5.2M of cash and investments now.

Where the cash came from and went

Cousins Properties: sources (+) and uses (−) of cash, Q3 2026Cousins Properties: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$111MNet borrowing (+) / repaid (−)−$111MOther investing$93.6MDividends−$52.7MOther financing−$42.5MCash drawn (+) / kept (−)$1.5MPartners−$402K
Cousins Properties: sources (+) and uses (−) of cash, TTM to Q3 2026Cousins Properties: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$1.4BNet borrowing (+) / repaid (−)−$1.2BOperating cash flow$423MOther investing−$356MDividends−$214MPartners−$20.2MCash drawn (+) / kept (−)−$538KShares issued$361K

From profit to cash

Cousins Properties: net income to operating cash flow, Q3 2026Cousins Properties: net income to operating cash flow, Q3 2026Net income$17.0MDepreciation & amortization$103MGains on investments$509KPayables$8.7MPrepaid and other assets−$8.1MOperating cash flow$111M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$111M−$52.7M−$111M—$1.5M$111M
Q2 2026$157M−$52.7M−$172M—−$403K$157M
Q1 2026$40.5M−$55.3M−$809M—−$576K$40.5M
Q4 2025$114M−$53.7M−$103M$361K−$1.0M$114M
Q3 2025$120M−$53.8M−$75.5M—$412M$120M
Q2 2025$123M−$53.7M−$130M—−$412M$123M
Q1 2025$44.8M−$54.6M−$217M−$315K$2.0M$44.8M
Q4 2024$129M−$48.7M−$1.0B—$68.8M$129M

Cousins Properties: income statement and cash flow

Cousins Properties, Q3 2026: revenue $259M (+4% year over year), operating margin 69.5%. The chart follows the revenue to costs, profit and cash.

Cousins Properties: 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.