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Generac Holdings cash flow, quarter by quarter

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

Free cash flow$132M in Q3 2026 · $414M over twelve months

Operating cash flow$171M
Capital spending−$39.2M
Free cash flow+$132M
Cash / net income1.6×
Cash conversion cycle133 days

Analysis

In Q3 2026, Generac Holdings generated $171M of operating cash flow and spent $39.2M on capital projects, leaving free cash flow of $132M. That is $35.2M more than in Q3 2025 ($96.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $601M; the largest uses were acquisitions ($212M), capital spending ($186M), net borrowing (+) / repaid (−) ($103M); besides operations, cash came from other investing ($25.5M), shares issued ($11.2M); the cash balance rose by $93.7M.

Operating cash flow was $171M against net income of $109M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: receivables −$177M, accrued liabilities +$134M, payables +$75.8M.

Its cash conversion cycle was 133 days (receivables 54 + inventory 150 − payables 70).

Free cash flow

Generac Holdings: free cash flow by quarterGenerac Holdings: free cash flow by quarter$286MQ4 2024$27.2MQ1 2025$14.5MQ2 2025$96.5MQ3 2025$130MQ4 2025$89.9MQ1 2026$62.9MQ2 2026$132MQ3 2026
Operating cash flow less capital spending.
Generac Holdings: operating cash flow against capital spendingGenerac Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$339M$53.3MQ4 2024$58.2M$30.9MQ1 2025$72.2M$57.7MQ2 2025$118M$21.9MQ3 2025$189M$59.3MQ4 2025$119M$29.4MQ1 2026$121M$58.3MQ2 2026$171M$39.2MQ3 2026
Latest (Q3 2026): Operating cash flow $171M, Capital spending $39.2M.

Capital allocation, year by year

Generac Holdings: where the cash came from (up) and went (down), by fiscal yearGenerac Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $411MFY2021: Net borrowing $70.6MFY2021: Shares issued $38.8MFY2021: Asset sales $259KFY2021: Capital spending −$110MFY2021: Acquisitions −$713MFY2021: Buybacks −$126M$521MFY2021FY2022: Operating cash flow $58.5MFY2022: Net borrowing $459MFY2022: Shares issued $13.8MFY2022: Asset sales $2.1MFY2022: Capital spending −$86.2MFY2022: Acquisitions −$25.1MFY2022: Buybacks −$346MFY2022: Dividends −$309K$534MFY2022FY2023: Operating cash flow $522MFY2023: Net borrowing $83.7MFY2023: Shares issued $7.8MFY2023: Asset sales $2.9MFY2023: Capital spending −$129MFY2023: Acquisitions −$16.0MFY2023: Buybacks −$252M$616MFY2023FY2024: Operating cash flow $741MFY2024: Net borrowing −$324MFY2024: Shares issued $27.6MFY2024: Asset sales $211KFY2024: Capital spending −$137MFY2024: Acquisitions −$34.7MFY2024: Buybacks −$153MFY2024: Dividends −$273K$769MFY2024FY2025: Operating cash flow $438MFY2025: Net borrowing −$61.8MFY2025: Shares issued $4.9MFY2025: Asset sales $3.1MFY2025: Capital spending −$170MFY2025: Acquisitions −$762KFY2025: Buybacks −$148MFY2025: Dividends −$293K$446MFY2025
Over these 5 years operating cash flow totalled $2.2B; the largest uses were buybacks ($1.0B) and acquisitions ($790M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$394M
Debt$1.3B
Net debt$875M
Due within a year$9.4M

Generac Holdings funds itself: free cash flow was $414M over the last twelve months, and $394M of cash and investments stands against $1.3B of debt ($9.4M due within a year, 42.0× covered by cash).

Generac Holdings: debt maturities by year (FY2025)Generac Holdings: debt maturities by year (FY2025)$9.4MYear 1$26.9MYear 2$40.0MYear 3$48.8MYear 4$600MYear 5
Principal due in each year as disclosed in the annual report, against $394M of cash and investments now.

Where the cash came from and went

Generac Holdings: sources (+) and uses (−) of cash, Q3 2026Generac Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$171MCash drawn (+) / kept (−)−$129MCapital spending−$39.2MNet borrowing (+) / repaid (−)−$4.6MOther investing$2.2MExchange rates−$608KOther financing−$363KShares issued$269KAcquisitions$97KAsset & business sales$21K
Generac Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Generac Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$601MAcquisitions−$212MCapital spending−$186MNet borrowing (+) / repaid (−)−$103MCash drawn (+) / kept (−)−$93.7MTaxes on employees’ shares−$40.8MOther investing$25.5MShares issued$11.2MOther financing−$4.3MAsset & business sales$3.1MExchange rates−$34K

From profit to cash

Generac Holdings: net income to operating cash flow, Q3 2026Generac Holdings: net income to operating cash flow, Q3 2026Net income$109MDepreciation & amortization$57.3MStock-based pay$13.0MDeferred taxes−$1.4MGains on investments$3.0MReceivables−$177MInventory−$55.1MPayables$75.8MAccrued liabilities$134MEmployee-related liabilities$19.8MPrepaid and other assets−$9.6MOperating cash flow$171M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265415070133
Q2 20265017471153
Q1 20265217362163
Q4 20255417170155
Q3 20255517381146
Q2 20255316673146
Q1 20255716871154
Q4 20244713355125

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$171M−$39.2M$97K——−$4.6M$269K−$129M$132M
Q2 2026$121M−$58.3M−$89.0M——−$490K$3.0M$609K$62.9M
Q1 2026$119M−$29.4M−$123M——−$13.1M$7.2M$75.9M$89.9M
Q4 2025$189M−$59.3M−$762K——−$90.0M$627K−$41.4M$130M
Q3 2025$118M−$21.9M———−$12.7M$3.2M−$76.5M$96.5M
Q2 2025$72.2M−$57.7M—−$50.5M—$69.5M$451K−$36.1M$14.5M
Q1 2025$58.2M−$30.9M—−$97.5M—−$14.3M$592K$93.8M$27.2M
Q4 2024$339M−$53.3M−$13.0M—−$273K−$205M$15.2M−$67.1M$286M

Generac Holdings: income statement and cash flow

Generac Holdings, Q3 2026: revenue $1.3B (+16% year over year), operating margin 12.4%. The chart follows the revenue to costs, profit and cash.

Generac Holdings: 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.