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Greenbrier Companies cash flow, quarter by quarter

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

Free cash flow−$101M in Q4 FY26

Operating cash flow$31.5M
Capital spending−$132M
Free cash flow−$101M
Cash / net income2.4×

Analysis

In Q4 FY26, Greenbrier Companies generated $31.5M of operating cash flow and spent $132M on capital projects, leaving free cash flow of −$101M. That is $127M less than in Q4 FY25 ($26.7M).

Operating cash flow was $31.5M against net income of $12.9M — 2.4× profit, cash ran ahead of reported earnings. The largest differences: inventory −$144M, payables +$41.7M, depreciation & amortization +$34.2M.

Free cash flow

Greenbrier Companies: free cash flow by quarterGreenbrier Companies: free cash flow by quarter−$124MQ1 FY25$26.3MQ2 FY25$56.5MQ3 FY25$26.7MQ4 FY25$18.7MQ1 FY26$129MQ2 FY26−$286MQ3 FY26−$101MQ4 FY26
Operating cash flow less capital spending.
Greenbrier Companies: operating cash flow against capital spendingGreenbrier Companies: operating cash flow against capital spendingOperating cash flowCapital spending−$65.1M$59.1MQ1 FY25$93.6M$67.3MQ2 FY25$139M$82.7MQ3 FY25$98.0M$71.3MQ4 FY25$76.2M$57.5MQ1 FY26$159M$30.1MQ2 FY26−$227M$59.6MQ3 FY26$31.5M$132MQ4 FY26
Latest (Q4 FY26): Operating cash flow $31.5M, Capital spending $132M.

Capital allocation, year by year

Greenbrier Companies: where the cash came from (up) and went (down), by fiscal yearGreenbrier Companies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY22: Operating cash flow −$150MFY22: Net borrowing $309MFY22: Asset sales $156MFY22: Capital spending −$381MFY22: Dividends −$35.8M$464MFY22FY23: Operating cash flow $71.2MFY23: Net borrowing $71.2MFY23: Asset sales $78.8MFY23: Capital spending −$362MFY23: Buybacks −$56.9MFY23: Dividends −$36.1M$221MFY23FY24: Operating cash flow $330MFY24: Net borrowing $234MFY24: Asset sales $75.0MFY24: Capital spending −$398MFY24: Buybacks −$1.3MFY24: Dividends −$38.4M$639MFY24FY25: Operating cash flow $266MFY25: Net borrowing −$34.1MFY25: Asset sales $77.3MFY25: Capital spending −$280MFY25: Buybacks −$22.7MFY25: Dividends −$39.6M$343MFY25FY26: Operating cash flow $39.6MFY26: Net borrowing $32.2MFY26: Asset sales $193MFY26: Capital spending −$279MFY26: Buybacks −$13.4MFY26: Dividends −$42.6M$265MFY26
Over these 5 years operating cash flow totalled $556M; the largest uses were capital spending ($1.7B) and dividends ($192M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$235M
Debt$1.8B
Net debt$1.6B
Due within a year$182M

Greenbrier Companies funds itself: free cash flow was — over the last twelve months, and $235M of cash and investments stands against $1.8B of debt ($182M due within a year, 1.3× covered by cash).

Greenbrier Companies: debt maturities by year (FY26)Greenbrier Companies: debt maturities by year (FY26)$182MYear 1$445MYear 2$41.9MYear 3$230MYear 4$65.0MYear 5$891MAfter year 5
Principal due in each year as disclosed in the annual report, against $235M of cash and investments now.

Where the cash came from and went

Greenbrier Companies: sources (+) and uses (−) of cash, Q4 FY26Greenbrier Companies: sources (+) and uses (−) of cash, Q4 FY26Capital spending−$132MCash drawn (+) / kept (−)$65.6MNet borrowing (+) / repaid (−)$32.0MOperating cash flow$31.5MAsset & business sales$22.5MOther financing−$11.0MDividends−$10.6MOther investing$2.0MBuybacks−$100KTaxes on employees’ shares$100KExchange rates$100K

From profit to cash

Greenbrier Companies: net income to operating cash flow, Q4 FY26Greenbrier Companies: net income to operating cash flow, Q4 FY26Net income$12.9MDepreciation & amortization$34.2MStock-based pay$2.7MDeferred taxes$14.5MReceivables−$21.7MInventory−$144MPayables$41.7MDeferred revenue$3.6MPrepaid and other assets$14.7MOperating cash flow$31.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q4 FY26$31.5M−$132M−$100K−$10.6M$32.0M$65.6M−$101M
Q3 FY26−$227M−$59.6M—−$10.5M$45.8M$240M−$286M
Q2 FY26$159M−$30.1M−$400K−$19.8M−$500K−$188M$129M
Q1 FY26$76.2M−$57.5M−$12.9M−$1.7M—−$49.0M$18.7M
Q4 FY25$98.0M−$71.3M−$900K−$9.9M−$14.0M$15.6M$26.7M
Q3 FY25$139M−$82.7M−$21.8M−$9.9M$800K−$40.1M$56.5M
Q2 FY25$93.6M−$67.3M—−$9.4M−$94.5M$11.0M$26.3M
Q1 FY25−$65.1M−$59.1M—−$10.4M$80.0M$55.7M−$124M

Greenbrier Companies: income statement and cash flow

Greenbrier Companies, Q4 FY26: revenue $591M (-22% year over year), operating margin 4.3%. The chart follows the revenue to costs, profit and cash.

Greenbrier Companies: 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.