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Huntington Ingalls Industries cash flow, quarter by quarter

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

Free cash flow$425M in Q3 2026 · $327M over twelve months

Operating cash flow$520M
Capital spending−$95.0M
Free cash flow+$425M
Cash / net income2.4×

Analysis

In Q3 2026, Huntington Ingalls Industries generated $520M of operating cash flow and spent $95.0M on capital projects, leaving free cash flow of $425M. That is $412M more than in Q3 2025 ($13.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $749M; the largest uses were capital spending ($422M), dividends ($217M), taxes on employees’ shares ($43.0M); besides operations, cash came from other investing ($8.0M); the cash balance rose by $75.0M.

Operating cash flow was $520M against net income of $217M — 2.4× profit, cash ran ahead of reported earnings. The largest differences: receivables +$91.0M, payables +$86.0M, depreciation & amortization +$75.0M.

Free cash flow

Huntington Ingalls Industries: free cash flow by quarterHuntington Ingalls Industries: free cash flow by quarter$277MQ4 2024−$462MQ1 2025$727MQ2 2025$13.0MQ3 2025$516MQ4 2025−$464MQ1 2026−$150MQ2 2026$425MQ3 2026
Operating cash flow less capital spending.
Huntington Ingalls Industries: operating cash flow against capital spendingHuntington Ingalls Industries: operating cash flow against capital spendingOperating cash flowCapital spending$391M$114MQ4 2024−$395M$67.0MQ1 2025$823M$96.0MQ2 2025$118M$105MQ3 2025$650M$134MQ4 2025−$390M$74.0MQ1 2026−$31.0M$119MQ2 2026$520M$95.0MQ3 2026
Latest (Q3 2026): Operating cash flow $520M, Capital spending $95.0M.

Capital allocation, year by year

Huntington Ingalls Industries: where the cash came from (up) and went (down), by fiscal yearHuntington Ingalls Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $760MFY2021: Net borrowing $1.6BFY2021: Asset sales $20.0MFY2021: Capital spending −$331MFY2021: Acquisitions −$1.6BFY2021: Buybacks −$101MFY2021: Dividends −$186M$2.4BFY2021FY2022: Operating cash flow $766MFY2022: Net borrowing −$400MFY2022: Capital spending −$284MFY2022: Buybacks −$52.0MFY2022: Dividends −$192M$766MFY2022FY2023: Operating cash flow $970MFY2023: Net borrowing −$480MFY2023: Capital spending −$292MFY2023: Buybacks −$75.0MFY2023: Dividends −$200M$970MFY2023FY2024: Operating cash flow $393MFY2024: Net borrowing $813MFY2024: Capital spending −$367MFY2024: Buybacks −$162MFY2024: Dividends −$206M$1.2BFY2024FY2025: Operating cash flow $1.2BFY2025: Net borrowing −$500MFY2025: Capital spending −$402MFY2025: Acquisitions −$132MFY2025: Dividends −$213M$1.2BFY2025
Over these 5 years operating cash flow totalled $4.1B; the largest uses were acquisitions ($1.8B) and capital spending ($1.7B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$387M
Debt$2.7B
Net debt$2.3B

Huntington Ingalls Industries funds itself: free cash flow was $327M over the last twelve months, and $387M of cash and investments stands against $2.7B of debt.

Huntington Ingalls Industries: debt maturities by year (FY2025)Huntington Ingalls Industries: debt maturities by year (FY2025)$600MYear 2$621MYear 3$1.0BYear 5
Principal due in each year as disclosed in the annual report, against $387M of cash and investments now.

Where the cash came from and went

Huntington Ingalls Industries: sources (+) and uses (−) of cash, Q3 2026Huntington Ingalls Industries: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$520MCash drawn (+) / kept (−)−$375MCapital spending−$95.0MDividends−$54.0MOther investing$4.0M
Huntington Ingalls Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Huntington Ingalls Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$749MCapital spending−$422MDividends−$217MCash drawn (+) / kept (−)−$75.0MTaxes on employees’ shares−$43.0MOther investing$8.0M

From profit to cash

Huntington Ingalls Industries: net income to operating cash flow, Q3 2026Huntington Ingalls Industries: net income to operating cash flow, Q3 2026Net income$217MDepreciation & amortization$75.0MStock-based pay$16.0MOther non-cash$5.0MReceivables$91.0MPayables$86.0MContract assets$29.0MPrepaid and other assets$15.0MOperating cash flow$520M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$520M−$95.0M—−$54.0M−$375M$425M
Q2 2026−$31.0M−$119M—−$55.0M$204M−$150M
Q1 2026−$390M−$74.0M—−$54.0M$558M−$464M
Q4 2025$650M−$134M—−$54.0M−$462M$516M
Q3 2025$118M−$105M$1.0M−$53.0M$31.0M$13.0M
Q2 2025$823M−$96.0M—−$53.0M−$176M$727M
Q1 2025−$395M−$67.0M−$133M−$53.0M$664M−$462M
Q4 2024$391M−$114M—−$52.0M−$821M$277M

Huntington Ingalls Industries: income statement and cash flow

Huntington Ingalls Industries, Q3 2026: revenue $3.5B (+11% year over year), operating margin 7.0%. The chart follows the revenue to costs, profit and cash.

Huntington Ingalls Industries: 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.