Filing Flows

Filing Flows › Companies › Encore Capital Group › Cash flow

Encore Capital Group cash flow, quarter by quarter

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

Free cash flow$102M in Q3 2026 · $151M over twelve months

Operating cash flow$107M
Capital spending−$4.8M
Free cash flow+$102M
Cash / net income0.9×

Analysis

In Q3 2026, Encore Capital Group generated $107M of operating cash flow and spent $4.8M on capital projects, leaving free cash flow of $102M. That is $26.3M more than in Q3 2025 ($75.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $176M; the largest uses were other financing ($667M), other investing ($178M), capital spending ($25.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($682M); the cash balance fell by $14.1M.

Operating cash flow was $107M against net income of $124M — 0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables +$71.6M, depreciation & amortization +$7.1M, stock-based pay +$4.7M.

Free cash flow

Encore Capital Group: free cash flow by quarterEncore Capital Group: free cash flow by quarter$15.0MQ4 2024$38.3MQ1 2025$3.2MQ2 2025$75.6MQ3 2025$9.9MQ4 2025$77.5MQ1 2026−$37.8MQ2 2026$102MQ3 2026
Operating cash flow less capital spending.
Encore Capital Group: operating cash flow against capital spendingEncore Capital Group: operating cash flow against capital spendingOperating cash flowCapital spending$23.5M$8.6MQ4 2024$45.3M$7.0MQ1 2025$9.5M$6.3MQ2 2025$81.6M$6.0MQ3 2025$16.8M$6.9MQ4 2025$82.3M$4.9MQ1 2026−$29.4M$8.4MQ2 2026$107M$4.8MQ3 2026
Latest (Q3 2026): Operating cash flow $107M, Capital spending $4.8M.

Capital allocation, year by year

Encore Capital Group: where the cash came from (up) and went (down), by fiscal yearEncore Capital Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingBuybacksFY2021: Operating cash flow $303MFY2021: Net borrowing −$83.9MFY2021: Capital spending −$33.4MFY2021: Buybacks −$391M$303MFY2021FY2022: Operating cash flow $211MFY2022: Net borrowing $220MFY2022: Capital spending −$37.2MFY2022: Buybacks −$87.0M$431MFY2022FY2023: Operating cash flow $153MFY2023: Net borrowing $268MFY2023: Capital spending −$24.8M$421MFY2023FY2024: Operating cash flow $156MFY2024: Net borrowing $372MFY2024: Capital spending −$29.0M$528MFY2024FY2025: Operating cash flow $153MFY2025: Net borrowing $297MFY2025: Capital spending −$26.3MFY2025: Buybacks −$90.4M$451MFY2025
Over these 5 years operating cash flow totalled $976M; the largest uses were buybacks ($568M) and capital spending ($151M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$158M
Debt$4.0B
Net debt$3.9B
Due within a year$21.3M

Encore Capital Group funds itself: free cash flow was $151M over the last twelve months, and $158M of cash and investments stands against $4.0B of debt ($21.3M due within a year, 7.4× covered by cash).

Encore Capital Group: debt maturities by year (FY2025)Encore Capital Group: debt maturities by year (FY2025)$21.3MYear 1$20.5MYear 2$1.4BYear 3$1.3BYear 4$844MYear 5$500MAfter year 5
Principal due in each year as disclosed in the annual report, against $158M of cash and investments now.

Where the cash came from and went

Encore Capital Group: sources (+) and uses (−) of cash, Q3 2026Encore Capital Group: sources (+) and uses (−) of cash, Q3 2026Other financing−$371MNet borrowing (+) / repaid (−)$284MOperating cash flow$107MOther investing−$40.2MCash drawn (+) / kept (−)$24.5MCapital spending−$4.8MExchange rates$53K
Encore Capital Group: sources (+) and uses (−) of cash, TTM to Q3 2026Encore Capital Group: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$682MOther financing−$667MOther investing−$178MOperating cash flow$176MCapital spending−$25.0MCash drawn (+) / kept (−)$14.1MExchange rates−$2.7M

From profit to cash

Encore Capital Group: net income to operating cash flow, Q3 2026Encore Capital Group: net income to operating cash flow, Q3 2026Net income$124MDepreciation & amortization$7.1MStock-based pay$4.7MOther non-cash$2.4MPayables$71.6MPrepaid and other assets$4.0MOperating cash flow$107M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$107M−$4.8M$284M$24.5M$102M
Q2 2026−$29.4M−$8.4M$13.5M$44.3M−$37.8M
Q1 2026$82.3M−$4.9M$53.8M−$70.4M$77.5M
Q4 2025$16.8M−$6.9M$185M$15.7M$9.9M
Q3 2025$81.6M−$6.0M−$17.8M$408K$75.6M
Q2 2025$9.5M−$6.3M$70.5M$14.2M$3.2M
Q1 2025$45.3M−$7.0M$60.6M$12.7M$38.3M
Q4 2024$23.5M−$8.6M$237M$47.5M$15.0M

Encore Capital Group: income statement and cash flow

Encore Capital Group, Q3 2026: revenue $545M (+18% year over year), operating margin 42.3%. The chart follows the revenue to costs, profit and cash.

Encore Capital Group: 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.