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Graftech International cash flow, quarter by quarter

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

Free cash flow−$16.3M in Q3 2026 · −$158M over twelve months

Operating cash flow−$8.4M
Capital spending−$7.8M
Free cash flow−$16.3M

Analysis

In Q3 2026, Graftech International generated −$8.4M of operating cash flow and spent $7.8M on capital projects, leaving free cash flow of −$16.3M. That is $34.7M less than in Q3 2025 ($18.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$113M; the largest uses were operating cash flow ($113M), capital spending ($45.2M), taxes on employees’ shares ($350K); besides operations, cash came from other financing ($105M), asset & business sales ($10.1M); the cash balance fell by $43.3M.

Operating cash flow was −$8.4M against net income of −$46.8M. The largest differences: depreciation & amortization +$15.3M, inventory −$11.1M, payables +$3.5M.

Free cash flow

Graftech International: free cash flow by quarterGraftech International: free cash flow by quarter−$39.2MQ4 2024−$42.5MQ1 2025−$57.1MQ2 2025$18.4MQ3 2025−$39.3MQ4 2025−$27.1MQ1 2026−$75.5MQ2 2026−$16.3MQ3 2026
Operating cash flow less capital spending.
Graftech International: operating cash flow against capital spendingGraftech International: operating cash flow against capital spendingOperating cash flowCapital spending−$26.4M$12.8MQ4 2024−$32.2M$10.3MQ1 2025−$53.2M$3.9MQ2 2025$24.7M$6.3MQ3 2025−$20.9M$18.4MQ4 2025−$14.9M$12.1MQ1 2026−$68.6M$6.9MQ2 2026−$8.4M$7.8MQ3 2026
Latest (Q3 2026): Operating cash flow −$8.4M, Capital spending $7.8M.

Capital allocation, year by year

Graftech International: where the cash came from (up) and went (down), by fiscal yearGraftech International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $443MFY2021: Net borrowing −$400MFY2021: Shares issued $351KFY2021: Asset sales $397KFY2021: Capital spending −$58.3MFY2021: Buybacks −$50.0MFY2021: Dividends −$7.4M$444MFY2021FY2022: Operating cash flow $325MFY2022: Net borrowing −$110MFY2022: Shares issued $225KFY2022: Asset sales $195KFY2022: Capital spending −$72.2MFY2022: Buybacks −$60.0MFY2022: Dividends −$10.3M$325MFY2022FY2023: Operating cash flow $76.6MFY2023: Net borrowing $4.7MFY2023: Asset sales $220KFY2023: Capital spending −$54.0MFY2023: Dividends −$5.1M$81.5MFY2023FY2024: Operating cash flow −$40.1MFY2024: Net borrowing −$219KFY2024: Asset sales $100KFY2024: Capital spending −$34.3M$100KFY2024FY2025: Operating cash flow −$81.6MFY2025: Net borrowing −$111KFY2025: Asset sales $554KFY2025: Capital spending −$38.9M$554KFY2025
Over these 5 years operating cash flow totalled $723M; the largest uses were net borrowing ($511M) and capital spending ($258M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$134M
Debt$1.2B
Net debt$1.1B
Cash runway10 months

Graftech International is burning cash: its operations consume cash, a free cash flow of −$158M a year at the current rate against $134M of cash and investments: a runway of about 10 months before any new financing.

Graftech International: debt maturities by year (FY2025)Graftech International: debt maturities by year (FY2025)$5.6MYear 3$1.1BYear 4
Principal due in each year as disclosed in the annual report, against $134M of cash and investments now.

Where the cash came from and went

Graftech International: sources (+) and uses (−) of cash, Q3 2026Graftech International: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$11.0MOperating cash flow−$8.4MCapital spending−$7.8MShares issued$4.7MAsset & business sales$624KExchange rates−$58KNet borrowing (+) / repaid (−)−$36KTaxes on employees’ shares−$11K
Graftech International: sources (+) and uses (−) of cash, TTM to Q3 2026Graftech International: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$113MOther financing$105MCapital spending−$45.2MCash drawn (+) / kept (−)$43.3MAsset & business sales$10.1MTaxes on employees’ shares−$350KNet borrowing (+) / repaid (−)−$137KExchange rates$65K

From profit to cash

Graftech International: net income to operating cash flow, Q3 2026Graftech International: net income to operating cash flow, Q3 2026Net income−$46.8MDepreciation & amortization$15.3MStock-based pay$1.2MDeferred taxes−$298KGains on disposals−$500KOther non-cash−$1.3MInventory−$11.1MPayables$3.5MPrepaid and other assets−$1.0MIncome taxes payable−$627KOperating cash flow−$8.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$8.4M−$7.8M−$36K$4.7M$11.0M−$16.3M
Q2 2026−$68.6M−$6.9M−$36K—−$25.1M−$75.5M
Q1 2026−$14.9M−$12.1M−$34K—$18.2M−$27.1M
Q4 2025−$20.9M−$18.4M−$31K—$39.2M−$39.3M
Q3 2025$24.7M−$6.3M−$29K—−$19.1M$18.4M
Q2 2025−$53.2M−$3.9M−$27K—$55.7M−$57.1M
Q1 2025−$32.2M−$10.3M−$24K—$42.0M−$42.5M
Q4 2024−$26.4M−$12.8M$175M—−$115M−$39.2M

Graftech International: income statement and cash flow

Graftech International, Q3 2026: revenue $140M (-3% year over year), operating margin -16.2%. The chart follows the revenue to costs, profit and cash.

Graftech International: 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.