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Evolution Petroleum cash flow, quarter by quarter

Latest: Q4 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$5.1M in Q4 FY26

Operating cash flow$6.8M
Capital spending−$1.7M
Free cash flow+$5.1M
Cash / net income1.5×
Cash conversion cycle-57 days

Analysis

In Q4 FY26, Evolution Petroleum generated $6.8M of operating cash flow and spent $1.7M on capital projects, leaving free cash flow of $5.1M. That is $3.3M more than in Q4 FY25 ($1.8M).

Operating cash flow was $6.8M against net income of $4.6M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$5.6M, deferred taxes +$1.4M, stock-based pay +$599K.

Its cash conversion cycle was -57 days (receivables 37 + inventory 0 − payables 94): suppliers fund its working capital.

Free cash flow

Evolution Petroleum: free cash flow by quarterEvolution Petroleum: free cash flow by quarter$7.4MQ1 FY25$7.7MQ2 FY25$7.2MQ3 FY25$1.8MQ4 FY25−$9.1MQ1 FY26$5.6MQ2 FY26−$1.2MQ3 FY26$5.1MQ4 FY26
Operating cash flow less capital spending.
Evolution Petroleum: operating cash flow against capital spendingEvolution Petroleum: operating cash flow against capital spendingOperating cash flowCapital spending$7.6M$262KQ1 FY25$7.7M$69KQ2 FY25$7.3M$20KQ3 FY25$10.5M$8.7MQ4 FY25$7.8M$16.9MQ1 FY26$5.4M−$220KQ2 FY26$3.5M$4.7MQ3 FY26$6.8M$1.7MQ4 FY26
Latest (Q4 FY26): Operating cash flow $6.8M, Capital spending $1.7M.

Capital allocation, year by year

Evolution Petroleum: where the cash came from (up) and went (down), by fiscal yearEvolution Petroleum: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksDividendsFY22: Operating cash flow $52.5MFY22: Net borrowing $17.2MFY22: Capital spending −$53.3MFY22: Buybacks −$38KFY22: Dividends −$11.8M$69.7MFY22FY23: Operating cash flow $51.3MFY23: Net borrowing −$21.2MFY23: Capital spending −$31KFY23: Buybacks −$4.2MFY23: Dividends −$16.1M$51.3MFY23FY24: Operating cash flow $22.7MFY24: Net borrowing $39.5MFY24: Capital spending −$38.7MFY24: Buybacks −$1.1MFY24: Dividends −$16.0M$62.2MFY24FY25: Operating cash flow $33.1MFY25: Net borrowing −$2.0MFY25: Shares issued $3.8MFY25: Capital spending −$9.0MFY25: Buybacks −$442KFY25: Dividends −$16.3M$36.9MFY25FY26: Operating cash flow $23.5MFY26: Net borrowing $19.0MFY26: Shares issued $6.1MFY26: Capital spending −$23.0MFY26: Buybacks −$225KFY26: Dividends −$16.9M$48.6MFY26
Over these 5 years operating cash flow totalled $183M; the largest uses were capital spending ($124M) and dividends ($77.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.1M
Debtnone
Net cash$6.1M

Evolution Petroleum funds itself: free cash flow was — over the last twelve months, with $6.1M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Evolution Petroleum: sources (+) and uses (−) of cash, Q4 FY26Evolution Petroleum: sources (+) and uses (−) of cash, Q4 FY26Operating cash flow$6.8MDividends−$4.3MCash drawn (+) / kept (−)−$3.5MOther investing$1.7MCapital spending−$1.7MShares issued$1.1MOther financing−$127K

From profit to cash

Evolution Petroleum: net income to operating cash flow, Q4 FY26Evolution Petroleum: net income to operating cash flow, Q4 FY26Net income$4.6MDepreciation & amortization$5.6MStock-based pay$599KDeferred taxes$1.4MReceivables−$403KPrepaid and other assets−$214KOperating cash flow$6.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 FY2637—94-57
Q3 FY2642—82-40
Q2 FY2640—89-49
Q1 FY2642—85-43
Q4 FY2546—100-53
Q3 FY2543—76-34
Q2 FY2549—66-17
Q1 FY2545—62-16

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q4 FY26$6.8M−$1.7M—−$4.3M—$1.1M−$3.5M$5.1M
Q3 FY26$3.5M−$4.7M−$43K−$4.3M$2.0M$3.7M$1.1M−$1.2M
Q2 FY26$5.4M$220K−$50K−$4.2M$1.5M$1.0M−$3.0M$5.6M
Q1 FY26$7.8M−$16.9M−$132K−$4.2M$15.5M$266K$1.8M−$9.1M
Q4 FY25$10.5M−$8.7M−$180K——$436K$3.1M$1.8M
Q3 FY25$7.3M−$20K−$71K−$4.1M—$1.1M$6.1M$7.2M
Q2 FY25$7.7M−$69K−$103K−$4.1M——−$4.7M$7.7M
Q1 FY25$7.6M−$262K−$88K−$4.0M——−$491K$7.4M

Evolution Petroleum: income statement and cash flow

Evolution Petroleum, Q4 FY26: revenue $24.2M (+15% year over year), operating margin 14.3%. The chart follows the revenue to costs, profit and cash.

Evolution Petroleum: 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.