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Civeo cash flow, quarter by quarter

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

Free cash flow$21.0M in Q3 2026 · $29.5M over twelve months

Operating cash flow$26.4M
Capital spending−$5.4M
Free cash flow+$21.0M
Cash / net income5.1×
Cash conversion cycle29 days

Analysis

In Q3 2026, Civeo generated $26.4M of operating cash flow and spent $5.4M on capital projects, leaving free cash flow of $21.0M. That is $12.8M more than in Q3 2025 ($8.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $47.6M; the largest uses were net borrowing (+) / repaid (−) ($85.4M), buybacks ($41.6M), capital spending ($18.1M); besides operations, cash came from other financing ($106M), asset & business sales ($3.4M); the cash balance rose by $12.3M.

Operating cash flow was $26.4M against net income of $5.2M — 5.1× profit, cash ran ahead of reported earnings. The largest differences: payables +$17.4M, depreciation & amortization +$15.7M, receivables −$13.0M.

Its cash conversion cycle was 29 days (receivables 55 + inventory 4 − payables 31).

Free cash flow

Civeo: free cash flow by quarterCiveo: free cash flow by quarter$1.8MQ4 2024−$13.7MQ1 2025−$6.8MQ2 2025$8.2MQ3 2025$14.5MQ4 2025−$13.9MQ1 2026$7.9MQ2 2026$21.0MQ3 2026
Operating cash flow less capital spending.
Civeo: operating cash flow against capital spendingCiveo: operating cash flow against capital spendingOperating cash flowCapital spending$9.5M$7.7MQ4 2024−$8.4M$5.3MQ1 2025−$2.3M$4.5MQ2 2025$13.8M$5.6MQ3 2025$19.3M$4.8MQ4 2025−$9.7M$4.1MQ1 2026$11.6M$3.7MQ2 2026$26.4M$5.4MQ3 2026
Latest (Q3 2026): Operating cash flow $26.4M, Capital spending $5.4M.

Capital allocation, year by year

Civeo: where the cash came from (up) and went (down), by fiscal yearCiveo: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $88.5MFY2021: Net borrowing −$76.3MFY2021: Asset sales $14.3MFY2021: Capital spending −$15.6MFY2021: Buybacks −$4.6M$103MFY2021FY2022: Operating cash flow $91.8MFY2022: Net borrowing −$33.8MFY2022: Asset sales $16.3MFY2022: Capital spending −$25.4MFY2022: Buybacks −$14.2M$108MFY2022FY2023: Operating cash flow $96.6MFY2023: Net borrowing −$67.8MFY2023: Asset sales $16.7MFY2023: Capital spending −$31.6MFY2023: Buybacks −$11.6MFY2023: Dividends −$7.4M$113MFY2023FY2024: Operating cash flow $83.5MFY2024: Net borrowing −$17.6MFY2024: Asset sales $11.0MFY2024: Capital spending −$26.1MFY2024: Buybacks −$29.6MFY2024: Dividends −$14.4M$94.5MFY2024FY2025: Operating cash flow $22.3MFY2025: Net borrowing $132MFY2025: Asset sales $2.2MFY2025: Capital spending −$20.2MFY2025: Acquisitions −$72.2MFY2025: Buybacks −$53.6MFY2025: Dividends −$3.4M$157MFY2025
Over these 5 years operating cash flow totalled $383M; the largest uses were net borrowing ($196M) and capital spending ($119M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$24.3M
Debt$213M
Net debt$189M

Civeo funds itself: free cash flow was $29.5M over the last twelve months, and $24.3M of cash and investments stands against $213M of debt.

Where the cash came from and went

Civeo: sources (+) and uses (−) of cash, Q3 2026Civeo: sources (+) and uses (−) of cash, Q3 2026Other financing$110MNet borrowing (+) / repaid (−)−$107MOperating cash flow$26.4MBuybacks−$22.3MCapital spending−$5.4MCash drawn (+) / kept (−)−$3.7MAsset & business sales$1.4MExchange rates$280K
Civeo: sources (+) and uses (−) of cash, TTM to Q3 2026Civeo: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$106MNet borrowing (+) / repaid (−)−$85.4MOperating cash flow$47.6MBuybacks−$41.6MCapital spending−$18.1MCash drawn (+) / kept (−)−$12.3MAsset & business sales$3.4MAcquisitions−$166KExchange rates−$53K

From profit to cash

Civeo: net income to operating cash flow, Q3 2026Civeo: net income to operating cash flow, Q3 2026Net income$5.2MDepreciation & amortization$15.7MDeferred taxes−$936KGains on disposals−$1.4MOther non-cash$933KReceivables−$13.0MInventory−$244KPayables$17.4MIncome taxes payable$6.0MOther operating capital−$3.7MOperating cash flow$26.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265543129
Q2 20265542831
Q1 20265243026
Q4 20255643228
Q3 20255743229
Q2 20255543129
Q1 20255753131
Q4 20246063333

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$26.4M−$5.4M—−$22.3M—−$107M−$3.7M$21.0M
Q2 2026$11.6M−$3.7M———−$978K−$4.1M$7.9M
Q1 2026−$9.7M−$4.1M—−$14.4M—$30.6M−$2.1M−$13.9M
Q4 2025$19.3M−$4.8M−$166K−$4.9M—−$8.0M−$2.4M$14.5M
Q3 2025$13.8M−$5.6M−$7.1M−$26.2M—$21.6M$2.6M$8.2M
Q2 2025−$2.3M−$4.5M—−$19.1M—$75.1M$13.7M−$6.8M
Q1 2025−$8.4M−$5.3M—−$3.3M−$3.4M$44.2M−$23.2M−$13.7M
Q4 2024$9.5M−$7.7M—−$5.6M−$3.4M−$7.9M$12.7M$1.8M

Civeo: income statement and cash flow

Civeo, Q3 2026: revenue $193M (+13% year over year), operating margin 6.9%. The chart follows the revenue to costs, profit and cash.

Civeo: 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.