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Entergy cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.4B in Q1 2026 · −$2.8B over twelve months

Operating cash flow$829M
Capital spending−$2.3B
Free cash flow−$1.4B
Cash / net income2.1×

Analysis

In Q1 2026, Entergy generated $829M of operating cash flow and spent $2.3B on capital projects, leaving free cash flow of −$1.4B. That is $299M less than in Q1 2025 (−$1.1B).

Over the twelve months to Mar 31, 2026, operating cash flow was $5.4B; the largest uses were capital spending ($8.3B), dividends ($1.1B); besides operations, cash came from net borrowing (+) / repaid (−) ($3.1B), shares issued ($1.5B); the cash balance rose by $2.1B.

Operating cash flow was $829M against net income of $391M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$599M, other operating capital −$117M, income taxes payable −$110M.

Free cash flow

Entergy: free cash flow by quarterEntergy: free cash flow by quarter−$138MQ2 2024$422MQ3 2024−$194MQ4 2024−$1.1BQ1 2025−$747MQ2 2025$246MQ3 2025−$910MQ4 2025−$1.4BQ1 2026
Operating cash flow less capital spending.
Entergy: operating cash flow against capital spendingEntergy: operating cash flow against capital spendingOperating cash flowCapital spending$1.0B$1.2BQ2 2024$1.6B$1.1BQ3 2024$1.4B$1.6BQ4 2024$536M$1.7BQ1 2025$1.3B$2.0BQ2 2025$2.1B$1.9BQ3 2025$1.2B$2.1BQ4 2025$829M$2.3BQ1 2026
Latest (Q1 2026): Operating cash flow $829M, Capital spending $2.3B.

Capital allocation, year by year

Entergy: where the cash came from (up) and went (down), by fiscal yearEntergy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $2.3BFY2021: Net borrowing $3.1BFY2021: Shares issued $207MFY2021: Asset sales $17.4MFY2021: Capital spending −$6.1BFY2021: Dividends −$775M$5.6BFY2021FY2022: Operating cash flow $2.6BFY2022: Net borrowing −$350MFY2022: Shares issued $885MFY2022: Asset sales −$1.2MFY2022: Capital spending −$5.1BFY2022: Dividends −$842M$3.5BFY2022FY2023: Operating cash flow $4.3BFY2023: Net borrowing −$552MFY2023: Shares issued $140MFY2023: Asset sales $11.0MFY2023: Capital spending −$4.4BFY2023: Dividends −$918M$4.4BFY2023FY2024: Operating cash flow $4.5BFY2024: Net borrowing $2.6BFY2024: Shares issued $137MFY2024: Capital spending −$4.8BFY2024: Dividends −$982M$7.3BFY2024FY2025: Operating cash flow $5.2BFY2025: Net borrowing $2.0BFY2025: Shares issued $1.2BFY2025: Asset sales $859MFY2025: Capital spending −$7.7BFY2025: Dividends −$1.1B$9.2BFY2025
Over these 5 years operating cash flow totalled $18.8B; the largest uses were capital spending ($28.1B) and dividends ($4.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.6B
Debt$34.1B
Net debt$30.5B
Due within a year$2.4B

Entergy's operations bring cash in ($5.4B over twelve months), and it spends more than that on capital projects: a gap of $2.8B funded from its $3.6B of cash and investments and from borrowing ($34.1B of debt, $2.4B due within a year). That is a choice to invest, not a cash runway running down.

Entergy: debt maturities by year (FY2025)Entergy: debt maturities by year (FY2025)$2.4BYear 1$1.1BYear 2$2.2BYear 3$406MYear 4$917MYear 5
Principal due in each year as disclosed in the annual report, against $3.6B of cash and investments now.

Where the cash came from and went

Entergy: sources (+) and uses (−) of cash, Q1 2026Entergy: sources (+) and uses (−) of cash, Q1 2026Net borrowing (+) / repaid (−)$3.1BCapital spending−$2.3BCash drawn (+) / kept (−)−$1.6BOperating cash flow$829MShares issued$352MDividends−$293MOther investing−$170MOther financing$60.3M
Entergy: sources (+) and uses (−) of cash, TTM to Q1 2026Entergy: sources (+) and uses (−) of cash, TTM to Q1 2026Capital spending−$8.3BOperating cash flow$5.4BNet borrowing (+) / repaid (−)$3.1BCash drawn (+) / kept (−)−$2.1BShares issued$1.5BDividends−$1.1BOther financing$945MOther investing$456M

From profit to cash

Entergy: net income to operating cash flow, Q1 2026Entergy: net income to operating cash flow, Q1 2026Net income$391MDepreciation & amortization$599MDeferred taxes$86.1MImpairments$18.1MReceivables$65.1MPayables$26.2MIncome taxes payable−$110MOther operating capital−$117MOperating cash flow$829M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 2026$829M−$2.3B−$293M$3.1B$352M−$1.6B−$1.4B
Q4 2025$1.2B−$2.1B−$289M$479M$333M−$412M−$910M
Q3 2025$2.1B−$1.9B−$268M$33.9M$10.7M−$341M$246M
Q2 2025$1.3B−$2.0B−$258M−$531M$807M$338M−$747M
Q1 2025$536M−$1.7B−$258M$2.0B$22.7M−$654M−$1.1B
Q4 2024$1.4B−$1.6B−$258M−$92.2M$40.3M$552M−$194M
Q3 2024$1.6B−$1.1B−$242M$244M$50.5M−$56.6M$422M
Q2 2024$1.0B−$1.2B−$241M$337M$39.2M−$60.3M−$138M

Entergy: income statement and cash flow

Entergy, Q1 2026: revenue $3.2B (+12% year over year), operating margin 18.0%. The chart follows the revenue to costs, profit and cash.

Entergy: 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.