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Green Plains cash flow, quarter by quarter

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

Free cash flow−$11.3M in Q3 2026 · $80.3M over twelve months

Operating cash flow$583K
Capital spending−$11.9M
Free cash flow−$11.3M
Cash / net income0.0×
Cash conversion cycle-8 days

Analysis

In Q3 2026, Green Plains generated $583K of operating cash flow and spent $11.9M on capital projects, leaving free cash flow of −$11.3M. That is $47.1M less than in Q3 2025 ($35.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $115M; the largest uses were capital spending ($34.4M), other financing ($32.2M), net borrowing (+) / repaid (−) ($28.0M); besides operations, cash came from other investing ($832K); the cash balance rose by $13.4M.

Operating cash flow was $583K against net income of $85.6M — 0.0× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$23.6M, inventory −$18.4M, receivables −$11.1M.

Its cash conversion cycle was -8 days (receivables 16 + inventory 0 − payables 24): suppliers fund its working capital.

Free cash flow

Green Plains: free cash flow by quarterGreen Plains: free cash flow by quarter−$54.2MQ4 2024−$71.8MQ1 2025$47.7MQ2 2025$35.8MQ3 2025$62.0MQ4 2025−$45.9MQ1 2026$75.6MQ2 2026−$11.3MQ3 2026
Operating cash flow less capital spending.
Green Plains: operating cash flow against capital spendingGreen Plains: operating cash flow against capital spendingOperating cash flowCapital spending−$27.0M$27.3MQ4 2024−$55.0M$16.7MQ1 2025$58.8M$11.1MQ2 2025$39.8M$4.0MQ3 2025$67.3M$5.3MQ4 2025−$39.5M$6.4MQ1 2026$86.3M$10.7MQ2 2026$583K$11.9MQ3 2026
Latest (Q3 2026): Operating cash flow $583K, Capital spending $11.9M.

Capital allocation, year by year

Green Plains: where the cash came from (up) and went (down), by fiscal yearGreen Plains: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $4.2MFY2021: Net borrowing $207MFY2021: Shares issued $356MFY2021: Asset sales $87.2MFY2021: Capital spending −$187MFY2021: Dividends −$9.3M$654MFY2021FY2022: Operating cash flow $69.7MFY2022: Capital spending −$212MFY2022: Dividends −$22.6M$69.7MFY2022FY2023: Operating cash flow $56.3MFY2023: Net borrowing −$37.6MFY2023: Asset sales $25.4MFY2023: Capital spending −$108MFY2023: Dividends −$22.7M$81.7MFY2023FY2024: Operating cash flow −$30.0MFY2024: Net borrowing −$27.7MFY2024: Asset sales $48.7MFY2024: Capital spending −$95.1MFY2024: Dividends −$5.2M$48.7MFY2024FY2025: Operating cash flow $111MFY2025: Net borrowing −$210MFY2025: Asset sales $180MFY2025: Capital spending −$37.2MFY2025: Buybacks −$30.0MFY2025: Dividends −$721K$291MFY2025
Over these 5 years operating cash flow totalled $211M; the largest uses were capital spending ($640M) and net borrowing ($276M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$160M
Debt$397M
Net debt$237M
Due within a year$3.9M

Green Plains funds itself: free cash flow was $80.3M over the last twelve months, and $160M of cash and investments stands against $397M of debt ($3.9M due within a year, 40.8× covered by cash).

Green Plains: debt maturities by year (FY2025)Green Plains: debt maturities by year (FY2025)$3.9MYear 1$64.0MYear 2$4.1MYear 3$4.3MYear 4$204MYear 5$93.7MAfter year 5
Principal due in each year as disclosed in the annual report, against $160M of cash and investments now.

Where the cash came from and went

Green Plains: sources (+) and uses (−) of cash, Q3 2026Green Plains: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$18.0MCapital spending−$11.9MNet borrowing (+) / repaid (−)−$6.5MOperating cash flow$583KTaxes on employees’ shares−$228K
Green Plains: sources (+) and uses (−) of cash, TTM to Q3 2026Green Plains: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$115MCapital spending−$34.4MOther financing−$32.2MNet borrowing (+) / repaid (−)−$28.0MCash drawn (+) / kept (−)−$13.4MTaxes on employees’ shares−$2.8MAsset & business sales−$2.3MDividends−$2.3MOther investing$832K

From profit to cash

Green Plains: net income to operating cash flow, Q3 2026Green Plains: net income to operating cash flow, Q3 2026Net income$85.6MDepreciation & amortization$23.6MStock-based pay$2.0MDeferred taxes$682KReceivables−$11.1MInventory−$18.4MPayables$7.0MPrepaid and other assets$2.3MIncome taxes payable$34KOther operating capital−$4.9MOperating cash flow$583K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202616—24-8
Q2 202617—25-8
Q1 202616—28-12
Q4 202517—25-8
Q3 202515—20-5
Q2 202514—18-3
Q1 202514—19-5
Q4 202413—21-8

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$583K−$11.9M—−$6.5M$18.0M−$11.3M
Q2 2026$86.3M−$10.7M—−$9.0M−$59.9M$75.6M
Q1 2026−$39.5M−$6.4M—−$630K$47.0M−$45.9M
Q4 2025$67.3M−$5.3M−$721K−$37.7M−$18.5M$62.0M
Q3 2025$39.8M−$4.0M—−$166M−$58.9M$35.8M
Q2 2025$58.8M−$11.1M—−$58.0M−$26.1M$47.7M
Q1 2025−$55.0M−$16.7M—−$3.9M$82.8M−$71.8M
Q4 2024−$27.0M−$27.3M−$5.2M$17.1M$42.6M−$54.2M

Green Plains: income statement and cash flow

Green Plains, Q3 2026: revenue $496M (-2% year over year), operating margin 18.7%. The chart follows the revenue to costs, profit and cash.

Green Plains: 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.