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German American Bancorp cash flow, quarter by quarter

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

Free cash flow$31.4M in Q3 2026 · $164M over twelve months

Operating cash flow$33.3M
Capital spending−$1.8M
Free cash flow+$31.4M
Cash / net income0.9×

Analysis

In Q3 2026, German American Bancorp generated $33.3M of operating cash flow and spent $1.8M on capital projects, leaving free cash flow of $31.4M. That is $18.7M less than in Q3 2025 ($50.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $171M; the largest uses were other investing ($275M), other financing ($77.8M), dividends ($45.6M); besides operations, cash came from net borrowing (+) / repaid (−) ($56.0M); the cash balance fell by $178M.

Operating cash flow was $33.3M against net income of $38.6M — 0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: other liabilities −$9.9M, depreciation & amortization +$4.7M, stock-based pay +$854K.

Free cash flow

German American Bancorp: free cash flow by quarterGerman American Bancorp: free cash flow by quarter$28.0MQ4 2024$36.7MQ1 2025$26.2MQ2 2025$50.1MQ3 2025$41.0MQ4 2025$36.0MQ1 2026$55.3MQ2 2026$31.4MQ3 2026
Operating cash flow less capital spending.
German American Bancorp: operating cash flow against capital spendingGerman American Bancorp: operating cash flow against capital spendingOperating cash flowCapital spending$28.7M$656KQ4 2024$37.9M$1.3MQ1 2025$26.9M$751KQ2 2025$51.8M$1.7MQ3 2025$42.7M$1.7MQ4 2025$37.0M$1.1MQ1 2026$58.1M$2.9MQ2 2026$33.3M$1.8MQ3 2026
Latest (Q3 2026): Operating cash flow $33.3M, Capital spending $1.8M.

Capital allocation, year by year

German American Bancorp: where the cash came from (up) and went (down), by fiscal yearGerman American Bancorp: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingDividendsFY2021: Operating cash flow $101MFY2021: Net borrowing −$42.8MFY2021: Asset sales $1.7MFY2021: Capital spending −$4.7MFY2021: Dividends −$22.2M$103MFY2021FY2022: Operating cash flow $110MFY2022: Net borrowing −$12.1MFY2022: Capital spending −$7.9MFY2022: Dividends −$27.0M$110MFY2022FY2023: Operating cash flow $107MFY2023: Net borrowing −$10.5MFY2023: Capital spending −$5.7MFY2023: Dividends −$29.4M$107MFY2023FY2024: Operating cash flow $95.8MFY2024: Net borrowing $15.5MFY2024: Capital spending −$5.0MFY2024: Dividends −$31.8M$111MFY2024FY2025: Operating cash flow $159MFY2025: Net borrowing −$56.7MFY2025: Capital spending −$5.3MFY2025: Dividends −$43.3M$159MFY2025
Over these 5 years operating cash flow totalled $573M; the largest uses were dividends ($154M) and net borrowing ($122M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$77.3M
Debt$100M
Net debt$22.7M

German American Bancorp funds itself: free cash flow was $164M over the last twelve months, and $77.3M of cash and investments stands against $100M of debt.

German American Bancorp: debt maturities by year (FY2025)German American Bancorp: debt maturities by year (FY2025)$75.0MYear 4$25.0MYear 5
Principal due in each year as disclosed in the annual report, against $77.3M of cash and investments now.

Where the cash came from and went

German American Bancorp: sources (+) and uses (−) of cash, Q3 2026German American Bancorp: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$98.9MOther investing−$76.4MOther financing−$58.9MOperating cash flow$33.3MCash drawn (+) / kept (−)$16.8MDividends−$11.6MCapital spending−$1.8MTaxes on employees’ shares−$265K
German American Bancorp: sources (+) and uses (−) of cash, TTM to Q3 2026German American Bancorp: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$275MCash drawn (+) / kept (−)$178MOperating cash flow$171MOther financing−$77.8MNet borrowing (+) / repaid (−)$56.0MDividends−$45.6MCapital spending−$7.4M

From profit to cash

German American Bancorp: net income to operating cash flow, Q3 2026German American Bancorp: net income to operating cash flow, Q3 2026Net income$38.6MDepreciation & amortization$4.7MStock-based pay$854KPrepaid and other assets$275KOther liabilities−$9.9MOperating cash flow$33.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$33.3M−$1.8M−$11.6M$98.9M$16.8M$31.4M
Q2 2026$58.1M−$2.9M−$11.6M−$392K$29.8M$55.3M
Q1 2026$37.0M−$1.1M−$11.6M−$13.6M−$5.5M$36.0M
Q4 2025$42.7M−$1.7M−$10.8M−$28.8M$137M$41.0M
Q3 2025$51.8M−$1.7M−$10.8M$9.8M−$55.5M$50.1M
Q2 2025$26.9M−$751K−$10.8M−$15.1M$242M$26.2M
Q1 2025$37.9M−$1.3M−$10.8M−$22.6M−$253M$36.7M
Q4 2024$28.7M−$656K−$8.0M$5.8M$6.8M$28.0M

German American Bancorp: income statement and cash flow

German American Bancorp, Q3 2026: revenue $130M (+2% year over year), operating margin 37.5%. The chart follows the revenue to costs, profit and cash.

German American Bancorp: 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.