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Emerson Electric cash flow, quarter by quarter

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

Free cash flow$1.3B in Q3 FY26 · $3.5B over twelve months

Operating cash flow$1.4B
Capital spending−$102M
Free cash flow+$1.3B
Cash / net income2.0×
Cash conversion cycle97 days

Analysis

In Q3 FY26, Emerson Electric generated $1.4B of operating cash flow and spent $102M on capital projects, leaving free cash flow of $1.3B. That is $345M more than in Q3 FY25 ($977M).

Over the twelve months to Jun 30, 2026, operating cash flow was $3.9B; the largest uses were dividends ($1.2B), net borrowing (+) / repaid (−) ($1.1B), buybacks ($918M); the cash balance fell by $39.0M.

Operating cash flow was $1.4B against net income of $718M — 2.0× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$377M, accrued liabilities +$191M, payables +$135M.

Its cash conversion cycle was 97 days (receivables 58 + inventory 102 − payables 63).

Free cash flow

Emerson Electric: free cash flow by quarterEmerson Electric: free cash flow by quarter$916MQ4 FY24$694MQ1 FY25$154MQ2 FY25$977MQ3 FY25$842MQ4 FY25$602MQ1 FY26$694MQ2 FY26$1.3BQ3 FY26
Operating cash flow less capital spending.
Emerson Electric: operating cash flow against capital spendingEmerson Electric: operating cash flow against capital spendingOperating cash flowCapital spending$1.1B$168MQ4 FY24$777M$83.0MQ1 FY25$241M$87.0MQ2 FY25$1.1B$93.0MQ3 FY25$1.0B$168MQ4 FY25$699M$97.0MQ1 FY26$779M$85.0MQ2 FY26$1.4B$102MQ3 FY26
Latest (Q3 FY26): Operating cash flow $1.4B, Capital spending $102M.

Capital allocation, year by year

Emerson Electric: where the cash came from (up) and went (down), by fiscal yearEmerson Electric: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY21: Operating cash flow $3.6BFY21: Net borrowing −$812MFY21: Asset sales $34.0MFY21: Capital spending −$404MFY21: Acquisitions −$1.6BFY21: Buybacks −$500MFY21: Dividends −$1.2B$3.6BFY21FY22: Operating cash flow $2.9BFY22: Net borrowing $3.7BFY22: Asset sales $601MFY22: Capital spending −$299MFY22: Acquisitions −$5.7BFY22: Buybacks −$500MFY22: Dividends −$1.2B$7.2BFY22FY23: Operating cash flow $637MFY23: Net borrowing −$2.3BFY23: Capital spending −$363MFY23: Acquisitions −$705MFY23: Buybacks −$2.0BFY23: Dividends −$1.2B$637MFY23FY24: Operating cash flow $3.3BFY24: Net borrowing −$567MFY24: Capital spending −$419MFY24: Acquisitions −$8.3BFY24: Buybacks −$435MFY24: Dividends −$1.2B$3.3BFY24FY25: Operating cash flow $3.1BFY25: Net borrowing $10.2BFY25: Capital spending −$431MFY25: Acquisitions −$37.0MFY25: Buybacks −$1.2BFY25: Dividends −$1.2B$13.3BFY25
Over these 5 years operating cash flow totalled $13.6B; the largest uses were acquisitions ($16.4B) and dividends ($6.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.2B
Debt$13.1B
Net debt$10.9B
Due within a year$4.8B

Emerson Electric funds itself: free cash flow was $3.5B over the last twelve months, and $2.2B of cash and investments stands against $13.1B of debt ($4.8B due within a year, 0.5× covered by cash).

Emerson Electric: debt maturities by year (FY25)Emerson Electric: debt maturities by year (FY25)$757MYear 2$528MYear 3$997MYear 4$584MYear 5
Principal due in each year as disclosed in the annual report, against $2.2B of cash and investments now.

Where the cash came from and went

Emerson Electric: sources (+) and uses (−) of cash, Q3 FY26Emerson Electric: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$1.4BCash drawn (+) / kept (−)−$389MBuybacks−$356MDividends−$311MNet borrowing (+) / repaid (−)−$228MCapital spending−$102MOther investing−$14.0MExchange rates−$12.0MOther financing−$12.0M
Emerson Electric: sources (+) and uses (−) of cash, TTM to Q3 FY26Emerson Electric: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$3.9BDividends−$1.2BNet borrowing (+) / repaid (−)−$1.1BBuybacks−$918MCapital spending−$452MOther financing−$146MOther investing−$69.0MCash drawn (+) / kept (−)$39.0MNot reconciled−$18.0MAcquisitions−$1.0M

From profit to cash

Emerson Electric: net income to operating cash flow, Q3 FY26Emerson Electric: net income to operating cash flow, Q3 FY26Net income$718MDepreciation & amortization$377MStock-based pay$68.0MReceivables$95.0MInventory−$60.0MPayables$135MAccrued liabilities$191MPrepaid and other assets−$68.0MOperating cash flow$1.4B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY26581026397
Q2 FY266010159102
Q1 FY266410362106
Q4 FY2557895293
Q3 FY2558955598
Q2 FY2557965796
Q1 FY256210462104
Q4 FY2457925395

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26$1.4B−$102M—−$356M−$311M−$228M−$389M$1.3B
Q2 FY26$779M−$85.0M—−$292M−$312M−$26.0M−$43.0M$694M
Q1 FY26$699M−$97.0M—−$250M−$312M$302M−$204M$602M
Q4 FY25$1.0B−$168M−$1.0M−$20.0M−$297M−$1.2B$675M$842M
Q3 FY25$1.1B−$93.0M—−$25.0M−$297M−$263M−$332M$977M
Q2 FY25$241M−$87.0M$1.0M−$223M−$297M$5.1B$947M$154M
Q1 FY25$777M−$83.0M−$37.0M−$899M−$301M—$754M$694M
Q4 FY24$1.1B−$168M—−$260M−$300M−$2.2B−$1.3B$916M

Emerson Electric: income statement and cash flow

Emerson Electric, Q3 FY26: revenue $4.9B (+7% year over year), operating margin 18.8%. The chart follows the revenue to costs, profit and cash.

Emerson Electric: 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.