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Graco cash flow, quarter by quarter

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

Free cash flow$146M in Q3 2026 · $600M over twelve months

Operating cash flow$165M
Capital spending−$19.1M
Free cash flow+$146M
Cash / net income1.4×
Cash conversion cycle164 days

Analysis

In Q3 2026, Graco generated $165M of operating cash flow and spent $19.1M on capital projects, leaving free cash flow of $146M.

Over the twelve months to Sep 25, 2026, operating cash flow was $660M; the largest uses were buybacks ($525M), acquisitions ($501M), dividends ($191M); besides operations, cash came from other financing ($100M), shares issued ($60.0M); the cash balance fell by $479M.

Operating cash flow was $165M against net income of $122M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$26.0M, receivables +$8.0M, stock-based pay +$8.0M.

Its cash conversion cycle was 164 days (receivables 68 + inventory 134 − payables 38).

Free cash flow

Graco: free cash flow by quarterGraco: free cash flow by quarter$171MQ4 2024$115MQ1 2025$163MQ2 2025$176MQ3 2025$184MQ4 2025$108MQ1 2026$161MQ2 2026$146MQ3 2026
Operating cash flow less capital spending.
Graco: operating cash flow against capital spendingGraco: operating cash flow against capital spendingOperating cash flowCapital spending$185M$13.9MQ4 2024$125M$10.6MQ1 2025$183M$19.6MQ2 2025$179M$3.5MQ3 2025$196M$12.0MQ4 2025$120M$12.1MQ1 2026$178M$16.4MQ2 2026$165M$19.1MQ3 2026
Latest (Q3 2026): Operating cash flow $165M, Capital spending $19.1M.

Capital allocation, year by year

Graco: where the cash came from (up) and went (down), by fiscal yearGraco: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $457MFY2021: Net borrowing $20.4MFY2021: Shares issued $83.6MFY2021: Capital spending −$134MFY2021: Acquisitions −$19.4MFY2021: Dividends −$127M$561MFY2021FY2022: Operating cash flow $377MFY2022: Net borrowing −$93.3MFY2022: Shares issued $51.4MFY2022: Capital spending −$201MFY2022: Acquisitions −$25.3MFY2022: Buybacks −$233MFY2022: Dividends −$142M$429MFY2022FY2023: Operating cash flow $651MFY2023: Net borrowing −$75.0MFY2023: Shares issued $101MFY2023: Capital spending −$185MFY2023: Buybacks −$102MFY2023: Dividends −$158M$752MFY2023FY2024: Operating cash flow $622MFY2024: Shares issued $120MFY2024: Capital spending −$107MFY2024: Acquisitions −$242MFY2024: Buybacks −$31.4MFY2024: Dividends −$172M$742MFY2024FY2025: Operating cash flow $684MFY2025: Net borrowing $25KFY2025: Shares issued $66.7MFY2025: Capital spending −$45.7MFY2025: Acquisitions −$135MFY2025: Buybacks −$423MFY2025: Dividends −$183M$750MFY2025
Over these 5 years operating cash flow totalled $2.8B; the largest uses were buybacks ($790M) and dividends ($783M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$140M
Debt$105M
Net cash$34.4M
Due within a year$24.7M

Graco funds itself: free cash flow was $600M over the last twelve months, and $140M of cash and investments stands against $105M of debt ($24.7M due within a year, 5.7× covered by cash).

Where the cash came from and went

Graco: sources (+) and uses (−) of cash, Q3 2026Graco: sources (+) and uses (−) of cash, Q3 2026Acquisitions−$436MCash drawn (+) / kept (−)$368MOther financing$220MOperating cash flow$165MBuybacks−$132MNet borrowing (+) / repaid (−)−$118MDividends−$47.7MCapital spending−$19.1MShares issued$1.8MExchange rates−$1.6MOther investing−$509KTaxes on employees’ shares−$116K
Graco: sources (+) and uses (−) of cash, TTM to Q3 2026Graco: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$660MBuybacks−$525MAcquisitions−$501MCash drawn (+) / kept (−)$479MDividends−$191MOther financing$100MShares issued$60.0MCapital spending−$59.7MTaxes on employees’ shares−$9.8MNet borrowing (+) / repaid (−)−$6.7MExchange rates−$3.8MOther investing−$1.4M

From profit to cash

Graco: net income to operating cash flow, Q3 2026Graco: net income to operating cash flow, Q3 2026Net income$122MDepreciation & amortization$26.0MStock-based pay$8.0MDeferred taxes$4.1MReceivables$8.0MInventory−$697KPayables$4.7MAccrued liabilities−$5.0MOther operating capital−$4.3MOperating cash flow$165M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20266813438164
Q2 20266313331165
Q1 20266614229179
Q4 20256013225166
Q3 20256514929185
Q2 20256013626170
Q1 20256314825186
Q4 20246014321182

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$165M−$19.1M−$436M−$132M−$47.7M−$118M$1.8M$368M$146M
Q2 2026$178M−$16.4M—−$319M−$48.9M$1.6M$3.5M$205M$161M
Q1 2026$120M−$12.1M—−$11.8M−$48.8M$2.3M$47.4M−$88.1M$108M
Q4 2025$196M−$12.0M−$65.2M−$62.2M−$45.6M−$12.5M$7.4M−$5.4M$184M
Q3 2025$179M−$3.5M−$59.7M—−$45.6M$6.8M$6.3M−$83.7M$176M
Q2 2025$183M−$19.6M—−$123M−$45.6M$145K−$2.3M$1.2M$163M
Q1 2025$125M−$10.6M−$10.5M−$238M−$46.6M−$1.1M$31.6M$139M$115M
Q4 2024$185M−$13.9M−$234M—−$43.1M−$428K$20.7M$89.1M$171M

Graco: income statement and cash flow

Graco, Q3 2026: revenue $586M (+8% year over year), operating margin 25.3%. The chart follows the revenue to costs, profit and cash.

Graco: 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.