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Espey Manufacturing & Electronics cash flow, quarter by quarter

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

Free cash flow−$914K in Q4 FY26

Operating cash flow−$607K
Capital spending−$308K
Free cash flow−$914K
Cash / net income-0.2×
Cash conversion cycle288 days

Analysis

In Q4 FY26, Espey Manufacturing & Electronics generated −$607K of operating cash flow and spent $308K on capital projects, leaving free cash flow of −$914K. That is $1.8M less than in Q4 FY25 ($915K).

Operating cash flow was −$607K against net income of $3.3M — -0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$2.7M, deferred revenue −$2.5M, inventory +$612K.

Its cash conversion cycle was 288 days (receivables 52 + inventory 270 − payables 34).

Free cash flow

Espey Manufacturing & Electronics: free cash flow by quarterEspey Manufacturing & Electronics: free cash flow by quarter$725KQ1 FY25$4.5MQ2 FY25$10.5MQ3 FY25$915KQ4 FY25$4.4MQ1 FY26−$4.1MQ2 FY26$3.2MQ3 FY26−$914KQ4 FY26
Operating cash flow less capital spending.
Espey Manufacturing & Electronics: operating cash flow against capital spendingEspey Manufacturing & Electronics: operating cash flow against capital spendingOperating cash flowCapital spending$1.4M$664KQ1 FY25$5.4M$884KQ2 FY25$11.5M$961KQ3 FY25$2.8M$1.9MQ4 FY25$5.7M$1.3MQ1 FY26−$2.8M$1.3MQ2 FY26$3.4M$189KQ3 FY26−$607K$308KQ4 FY26
Latest (Q4 FY26): Operating cash flow −$607K, Capital spending $308K.

Capital allocation, year by year

Espey Manufacturing & Electronics: where the cash came from (up) and went (down), by fiscal yearEspey Manufacturing & Electronics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowAsset salesCapital spendingDividendsFY22: Operating cash flow $2.2MFY22: Capital spending −$304K$2.2MFY22FY23: Operating cash flow $3.9MFY23: Asset sales $2KFY23: Capital spending −$512KFY23: Dividends −$489K$3.9MFY23FY24: Operating cash flow $10.6MFY24: Asset sales $150FY24: Capital spending −$5.2MFY24: Dividends −$1.7M$10.6MFY24FY25: Operating cash flow $21.0MFY25: Capital spending −$4.4MFY25: Dividends −$2.6M$21.0MFY25FY26: Operating cash flow $5.7MFY26: Asset sales $6KFY26: Capital spending −$3.1MFY26: Dividends −$4.8M$5.7MFY26
Over these 5 years operating cash flow totalled $43.4M; the largest uses were capital spending ($13.5M) and dividends ($9.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$45.4M
Debtnone
Net cash$45.4M
Cash runwaymore than 10 years

Espey Manufacturing & Electronics is burning cash: its operations consume cash, a free cash flow of −$3.7M a year at the current rate against $45.4M of cash and investments: a runway of more than ten years at that rate before any new financing.

Where the cash came from and went

Espey Manufacturing & Electronics: sources (+) and uses (−) of cash, Q4 FY26Espey Manufacturing & Electronics: sources (+) and uses (−) of cash, Q4 FY26Cash drawn (+) / kept (−)$1.7MDividends−$703KOperating cash flow−$607KOther investing−$504KOther financing$399KCapital spending−$308K

From profit to cash

Espey Manufacturing & Electronics: net income to operating cash flow, Q4 FY26Espey Manufacturing & Electronics: net income to operating cash flow, Q4 FY26Net income$3.3MDepreciation & amortization$133KStock-based pay$36KDeferred taxes$196KGains on disposals$19KReceivables−$2.7MInventory$612KPayables$353KAccrued liabilities−$64KDeferred revenue−$2.5MPrepaid and other assets$91KIncome taxes payable−$198KOperating cash flow−$607K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 FY265227034288
Q3 FY265731042325
Q2 FY265525541270
Q1 FY267130547328
Q4 FY256626937299
Q3 FY255920929239
Q2 FY254716329182
Q1 FY256023346247

Every quarter

QuarterOperating cash flowCapital spendingDividendsCash drawn (+) / kept (−)Free cash flow
Q4 FY26−$607K−$308K−$703K$1.7M−$914K
Q3 FY26$3.4M−$189K−$699K−$3.4M$3.2M
Q2 FY26−$2.8M−$1.3M−$687K$4.5M−$4.1M
Q1 FY26$5.7M−$1.3M−$2.7M−$3.4M$4.4M
Q4 FY25$2.8M−$1.9M−$669K−$5.0M$915K
Q3 FY25$11.5M−$961K−$650K−$5.8M$10.5M
Q2 FY25$5.4M−$884K−$646K−$3.2M$4.5M
Q1 FY25$1.4M−$664K−$633K−$462K$725K

Espey Manufacturing & Electronics: income statement and cash flow

Espey Manufacturing & Electronics, Q4 FY26: revenue $13.5M (+40% year over year), operating margin 25.8%. The chart follows the revenue to costs, profit and cash.

Espey Manufacturing & Electronics: 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.