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Excelerate Energy cash flow, quarter by quarter

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

Free cash flow$50.5M in Q3 2026 · $11.7M over twelve months

Operating cash flow$80.3M
Capital spending−$29.8M
Free cash flow+$50.5M
Cash / net income5.6×

Analysis

In Q3 2026, Excelerate Energy generated $80.3M of operating cash flow and spent $29.8M on capital projects, leaving free cash flow of $50.5M. That is $12.4M less than in Q3 2025 ($62.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $359M; the largest uses were capital spending ($347M), net borrowing (+) / repaid (−) ($84.7M), other financing ($46.7M); besides operations, cash came from acquisitions ($28.7M); the cash balance fell by $105M.

Operating cash flow was $80.3M against net income of $14.2M — 5.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$32.5M, payables −$29.7M, prepaid and other assets −$16.4M.

Free cash flow

Excelerate Energy: free cash flow by quarterExcelerate Energy: free cash flow by quarter−$13.9MQ4 2024$111MQ1 2025$53.9MQ2 2025$62.9MQ3 2025$70.8MQ4 2025$33.7MQ1 2026−$143MQ2 2026$50.5MQ3 2026
Operating cash flow less capital spending.
Excelerate Energy: operating cash flow against capital spendingExcelerate Energy: operating cash flow against capital spendingOperating cash flowCapital spending$49.6M$63.6MQ4 2024$155M$44.1MQ1 2025$87.1M$33.3MQ2 2025$115M$52.0MQ3 2025$104M$33.6MQ4 2025$60.0M$26.3MQ1 2026$114M$258MQ2 2026$80.3M$29.8MQ3 2026
Latest (Q3 2026): Operating cash flow $80.3M, Capital spending $29.8M.

Capital allocation, year by year

Excelerate Energy: where the cash came from (up) and went (down), by fiscal yearExcelerate Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsDividendsFY2021: Operating cash flow $142MFY2021: Net borrowing −$65.5MFY2021: Capital spending −$36.1M$142MFY2021FY2022: Operating cash flow $225MFY2022: Net borrowing $99.2MFY2022: Shares issued $412MFY2022: Capital spending −$119MFY2022: Dividends −$1.3M$736MFY2022FY2023: Operating cash flow $232MFY2023: Net borrowing −$107MFY2023: Asset sales $4.1MFY2023: Capital spending −$313MFY2023: Dividends −$2.6M$236MFY2023FY2024: Operating cash flow $244MFY2024: Net borrowing −$115MFY2024: Shares issued $223KFY2024: Capital spending −$113MFY2024: Dividends −$3.4M$245MFY2024FY2025: Operating cash flow $461MFY2025: Net borrowing −$209MFY2025: Shares issued $202MFY2025: Capital spending −$163MFY2025: Acquisitions −$1.0BFY2025: Dividends −$8.5M$663MFY2025
Over these 5 years operating cash flow totalled $1.3B; the largest uses were acquisitions ($1.0B) and capital spending ($744M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$357M
Debt$922M
Net debt$565M
Due within a year$24.2M

Excelerate Energy funds itself: free cash flow was $11.7M over the last twelve months, and $357M of cash and investments stands against $922M of debt ($24.2M due within a year, 14.7× covered by cash).

Excelerate Energy: debt maturities by year (FY2025)Excelerate Energy: debt maturities by year (FY2025)$24.2MYear 1$25.1MYear 2$26.0MYear 3$26.8MYear 4$812MYear 5$37.1MAfter year 5
Principal due in each year as disclosed in the annual report, against $357M of cash and investments now.

Where the cash came from and went

Excelerate Energy: sources (+) and uses (−) of cash, Q3 2026Excelerate Energy: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$80.3MCapital spending−$29.8MNet borrowing (+) / repaid (−)−$20.9MCash drawn (+) / kept (−)−$15.5MOther financing−$11.1MDividends−$2.8MTaxes on employees’ shares−$103KExchange rates−$10K
Excelerate Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Excelerate Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$359MCapital spending−$347MCash drawn (+) / kept (−)$105MNet borrowing (+) / repaid (−)−$84.7MOther financing−$46.7MAcquisitions$28.7MDividends−$10.6MTaxes on employees’ shares−$3.5MExchange rates$209K

From profit to cash

Excelerate Energy: net income to operating cash flow, Q3 2026Excelerate Energy: net income to operating cash flow, Q3 2026Net income$14.2MDepreciation & amortization$32.5MStock-based pay$3.3MDeferred taxes$3.6MReceivables$10.0MPayables−$29.7MPrepaid and other assets−$16.4MOther operating capital−$6.1MOperating cash flow$80.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$80.3M−$29.8M—−$2.8M−$20.9M—−$15.5M$50.5M
Q2 2026$114M−$258M—−$2.5M−$36.3M—$198M−$143M
Q1 2026$60.0M−$26.3M—−$2.7M−$15.6M—−$3.1M$33.7M
Q4 2025$104M−$33.6M$28.7M−$2.6M−$12.0M—−$74.7M$70.8M
Q3 2025$115M−$52.0M—−$2.6M−$10.7M−$72K−$37.7M$62.9M
Q2 2025$87.1M−$33.3M—−$1.9M−$169M$104K$194M$53.9M
Q1 2025$155M−$44.1M—−$1.4M−$16.6M$202M−$83.1M$111M
Q4 2024$49.6M−$63.6M—−$1.3M−$40.7M—$72.0M−$13.9M

Excelerate Energy: income statement and cash flow

Excelerate Energy, Q3 2026: revenue $297M (-24% year over year), operating margin 31.8%. The chart follows the revenue to costs, profit and cash.

Excelerate 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.