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Amcon Distributing cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow−$20.3M in Q3 FY26 · $2.7M over twelve months

Operating cash flow−$17.9M
Capital spending−$2.4M
Free cash flow−$20.3M
Cash / net income-6.7×
Cash conversion cycle19 days

Analysis

In Q3 FY26, Amcon Distributing generated −$17.9M of operating cash flow and spent $2.4M on capital projects, leaving free cash flow of −$20.3M. That is $11.5M less than in Q3 FY25 (−$8.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was $15.2M; the largest uses were capital spending ($12.5M), partners ($7.6M), dividends ($654K); besides operations, cash came from other investing ($5.6M), asset & business sales ($182K); the cash balance fell by $190K.

Operating cash flow was −$17.9M against net income of $2.7M — -6.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables −$13.6M, receivables −$5.3M, inventory −$3.0M.

Its cash conversion cycle was 19 days (receivables 8 + inventory 18 − payables 7).

Free cash flow

Amcon Distributing: free cash flow by quarterAmcon Distributing: free cash flow by quarter$37.4MQ4 FY24−$43.3MQ1 FY25$31.4MQ2 FY25−$8.8MQ3 FY25$30.4MQ4 FY25−$12.4MQ1 FY26$5.1MQ2 FY26−$20.3MQ3 FY26
Operating cash flow less capital spending.
Amcon Distributing: operating cash flow against capital spendingAmcon Distributing: operating cash flow against capital spendingOperating cash flowCapital spending$41.0M$3.6MQ4 FY24−$39.9M$3.5MQ1 FY25$34.4M$3.0MQ2 FY25−$7.0M$1.8MQ3 FY25$31.1M$764KQ4 FY25−$11.7M$678KQ1 FY26$13.7M$8.7MQ2 FY26−$17.9M$2.4MQ3 FY26
Latest (Q3 FY26): Operating cash flow −$17.9M, Capital spending $2.4M.

Capital allocation, year by year

Amcon Distributing: where the cash came from (up) and went (down), by fiscal yearAmcon Distributing: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY21: Operating cash flow $20.9MFY21: Net borrowing −$15.8MFY21: Asset sales $56KFY21: Capital spending −$1.7MFY21: Buybacks −$6KFY21: Dividends −$3.4M$21.0MFY21FY22: Operating cash flow $22.9MFY22: Net borrowing −$3.3MFY22: Shares issued $174KFY22: Asset sales $152KFY22: Capital spending −$14.7MFY22: Dividends −$3.4M$23.2MFY22FY23: Operating cash flow $19.7MFY23: Net borrowing $53.8MFY23: Asset sales $152KFY23: Capital spending −$12.5MFY23: Acquisitions −$54.9MFY23: Buybacks −$405KFY23: Dividends −$3.5M$73.7MFY23FY24: Operating cash flow $67.9MFY24: Net borrowing −$22.9MFY24: Asset sales $417KFY24: Capital spending −$20.4MFY24: Dividends −$630K$68.3MFY24FY25: Operating cash flow $18.7MFY25: Net borrowing $273KFY25: Asset sales $113KFY25: Capital spending −$9.0MFY25: Buybacks −$1.1MFY25: Dividends −$645K$19.1MFY25
Over these 5 years operating cash flow totalled $150M; the largest uses were capital spending ($58.3M) and acquisitions ($54.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$637K
Debt$16.5M
Net debt$15.9M
Due within a year$5.5M
Cash runway0 months

Amcon Distributing is burning cash: its operations consume cash, a free cash flow of −$81.3M a year at the current rate against $637K of cash and investments: a runway of about 0 months; $5.5M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Amcon Distributing: debt maturities by year (FY25)Amcon Distributing: debt maturities by year (FY25)$5.5MYear 1$4.3MYear 2$2.1MYear 3$1.4MYear 4$734KYear 5$2.5MAfter year 5
Principal due in each year as disclosed in the annual report, against $637K of cash and investments now.

Where the cash came from and went

Amcon Distributing: sources (+) and uses (−) of cash, Q3 FY26Amcon Distributing: sources (+) and uses (−) of cash, Q3 FY26Net borrowing (+) / repaid (−)$22.3MOperating cash flow−$17.9MOther financing−$7.5MOther investing$5.6MCapital spending−$2.4MDividends−$117KCash drawn (+) / kept (−)$6KAsset & business sales−$1
Amcon Distributing: sources (+) and uses (−) of cash, TTM to Q3 FY26Amcon Distributing: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$15.2MCapital spending−$12.5MPartners−$7.6MOther investing$5.6MDividends−$654KOther financing−$451KCash drawn (+) / kept (−)$190KAsset & business sales$182K

From profit to cash

Amcon Distributing: net income to operating cash flow, Q3 FY26Amcon Distributing: net income to operating cash flow, Q3 FY26Net income$2.7MDepreciation & amortization$2.3MStock-based pay$549KDeferred taxes−$149KReceivables−$5.3MInventory−$3.0MPayables−$13.6MAccrued liabilities$357KPrepaid and other assets−$1.1MOther liabilities$139KIncome taxes payable$1.0MOperating cash flow−$17.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY26818719
Q2 FY26920821
Q1 FY26920821
Q4 FY25920822
Q3 FY25920722
Q2 FY251026828
Q1 FY25922724
Q4 FY24920723

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26−$17.9M−$2.4M−$117K$22.3M$6K−$20.3M
Q2 FY26$13.7M−$8.7M−$303K−$5.0M$136K$5.1M
Q1 FY26−$11.7M−$678K−$117K$12.5M−$34K−$12.4M
Q4 FY25$31.1M−$764K−$116K−$29.1M$82K$30.4M
Q3 FY25−$7.0M−$1.8M−$116K$11.0M−$140K−$8.8M
Q2 FY25$34.4M−$3.0M−$297K−$24.9M−$150K$31.4M
Q1 FY25−$39.9M−$3.5M−$116K$43.3M$137K−$43.3M
Q4 FY24$41.0M−$3.6M−$113K−$37.2M$47K$37.4M

Amcon Distributing: income statement and cash flow

Amcon Distributing, Q3 FY26: revenue $835M (+13% year over year), operating margin 0.7%. The chart follows the revenue to costs, profit and cash.

Amcon Distributing: 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.