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CVR Energy cash flow, quarter by quarter

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

Free cash flow$593M in Q3 2026 · $819M over twelve months

Operating cash flow$655M
Capital spending−$62.0M
Free cash flow+$593M
Cash / net income1.2×
Cash conversion cycle14 days

Analysis

In Q3 2026, CVR Energy generated $655M of operating cash flow and spent $62.0M on capital projects, leaving free cash flow of $593M. That is $468M more than in Q3 2025 ($125M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.0B; the largest uses were net borrowing (+) / repaid (−) ($828M), capital spending ($207M), dividends ($20.0M); besides operations, cash came from other financing ($630M), other investing ($7.0M); the cash balance rose by $608M.

Operating cash flow was $655M against net income of $563M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: other liabilities −$215M, receivables −$137M, payables +$122M.

Its cash conversion cycle was 14 days (receivables 11 + inventory 23 − payables 21).

Free cash flow

CVR Energy: free cash flow by quarterCVR Energy: free cash flow by quarter$43.0MQ4 2024−$246MQ1 2025$135MQ2 2025$125MQ3 2025$17.0MQ1 2026$264MQ2 2026$593MQ3 2026
Operating cash flow less capital spending.
CVR Energy: operating cash flow against capital spendingCVR Energy: operating cash flow against capital spendingOperating cash flowCapital spending$98.0M$55.0MQ4 2024−$195M$51.0MQ1 2025$176M$41.0MQ2 2025$163M$38.0MQ3 2025$64.0M$47.0MQ1 2026$307M$43.0MQ2 2026$655M$62.0MQ3 2026
Latest (Q3 2026): Operating cash flow $655M, Capital spending $62.0M.

Capital allocation, year by year

CVR Energy: where the cash came from (up) and went (down), by fiscal yearCVR Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $396MFY2021: Net borrowing −$38.0MFY2021: Asset sales $7.0MFY2021: Capital spending −$224MFY2021: Acquisitions −$20.0MFY2021: Buybacks −$1.0MFY2021: Dividends −$241M$403MFY2021FY2022: Operating cash flow $967MFY2022: Net borrowing −$71.0MFY2022: Capital spending −$191MFY2022: Buybacks −$12.0MFY2022: Dividends −$483M$967MFY2022FY2023: Operating cash flow $948MFY2023: Net borrowing $594MFY2023: Asset sales $1.0MFY2023: Capital spending −$205MFY2023: Dividends −$453M$1.5BFY2023FY2024: Operating cash flow $404MFY2024: Net borrowing −$285MFY2024: Capital spending −$179MFY2024: Dividends −$151M$404MFY2024FY2025: Operating cash flow $144MFY2025: Net borrowing −$178MFY2025: Capital spending −$185M$144MFY2025
Over these 5 years operating cash flow totalled $2.9B; the largest uses were dividends ($1.3B) and capital spending ($984M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.3B
Debt$1.7B
Net debt$422M
Due within a year$12.0M

CVR Energy funds itself: free cash flow was $819M over the last twelve months, and $1.3B of cash and investments stands against $1.7B of debt ($12.0M due within a year, 106.5× covered by cash).

Where the cash came from and went

CVR Energy: sources (+) and uses (−) of cash, Q3 2026CVR Energy: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$655MCash drawn (+) / kept (−)−$541MCapital spending−$62.0MOther financing−$40.0MDividends−$10.0MNet borrowing (+) / repaid (−)−$3.0MOther investing$1.0M
CVR Energy: sources (+) and uses (−) of cash, TTM to Q3 2026CVR Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.0BNet borrowing (+) / repaid (−)−$828MOther financing$630MCash drawn (+) / kept (−)−$608MCapital spending−$207MDividends−$20.0MOther investing$7.0M

From profit to cash

CVR Energy: net income to operating cash flow, Q3 2026CVR Energy: net income to operating cash flow, Q3 2026Net income$563MDepreciation & amortization$78.0MStock-based pay$27.0MDeferred taxes−$5.0MOther non-cash$3.0MReceivables−$137MInventory−$52.0MPayables$122MPrepaid and other assets$18.0MOther liabilities−$215MOperating cash flow$655M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202611232114
Q2 202611201813
Q1 202613222015
Q4 202512242116
Q3 202512343016
Q2 202515272715
Q1 202517283015
Q4 202414242414

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$655M−$62.0M−$10.0M−$3.0M−$541M$593M
Q2 2026$307M−$43.0M−$10.0M−$2.0M−$225M$264M
Q1 2026$64.0M−$47.0M—$180M−$1.0M$17.0M
Q3 2025$163M−$38.0M—−$3.0M−$74.0M$125M
Q2 2025$176M−$41.0M—−$2.0M$99.0M$135M
Q1 2025−$195M−$51.0M—−$2.0M$292M−$246M
Q4 2024$98.0M−$55.0M—−$4.0M−$453M$43.0M

CVR Energy: income statement and cash flow

CVR Energy, Q3 2026: revenue $3.3B (+69% year over year), operating margin 22.1%. The chart follows the revenue to costs, profit and cash.

CVR Energy: 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.