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Hecla Mining cash flow, quarter by quarter

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

Free cash flow$151M in Q3 2026 · $532M over twelve months

Operating cash flow$203M
Capital spending−$51.7M
Free cash flow+$151M
Cash / net income1.4×

Analysis

In Q3 2026, Hecla Mining generated $203M of operating cash flow and spent $51.7M on capital projects, leaving free cash flow of $151M. That is $47.6M more than in Q3 2025 ($104M).

Over the twelve months to Sep 30, 2026, operating cash flow was $789M; the largest uses were net borrowing (+) / repaid (−) ($272M), capital spending ($258M), dividends ($10.8M); besides operations, cash came from other investing ($321M), asset & business sales ($786K); the cash balance rose by $558M.

Operating cash flow was $203M against net income of $150M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$39.2M, payables +$25.7M, inventory +$11.1M.

Free cash flow

Hecla Mining: free cash flow by quarterHecla Mining: free cash flow by quarter$6.7MQ4 2024−$2.1MQ1 2025$119MQ2 2025$104MQ3 2025$89.6MQ4 2025$155MQ1 2026$136MQ2 2026$151MQ3 2026
Operating cash flow less capital spending.
Hecla Mining: operating cash flow against capital spendingHecla Mining: operating cash flow against capital spendingOperating cash flowCapital spending$67.5M$60.8MQ4 2024$35.7M$37.8MQ1 2025$162M$42.7MQ2 2025$148M$44.4MQ3 2025$217M$127MQ4 2025$194M$39.3MQ1 2026$175M$39.1MQ2 2026$203M$51.7MQ3 2026
Latest (Q3 2026): Operating cash flow $203M, Capital spending $51.7M.

Capital allocation, year by year

Hecla Mining: where the cash came from (up) and went (down), by fiscal yearHecla Mining: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $220MFY2021: Net borrowing −$7.3MFY2021: Asset sales $1.1MFY2021: Capital spending −$109MFY2021: Buybacks −$4.5MFY2021: Dividends −$20.7M$221MFY2021FY2022: Operating cash flow $89.9MFY2022: Net borrowing −$8.2MFY2022: Shares issued $17.3MFY2022: Asset sales $748KFY2022: Capital spending −$149MFY2022: Acquisitions $9.0MFY2022: Buybacks −$3.7MFY2022: Dividends −$12.9M$117MFY2022FY2023: Operating cash flow $75.5MFY2023: Net borrowing $117MFY2023: Shares issued $56.7MFY2023: Asset sales $1.3MFY2023: Capital spending −$224MFY2023: Acquisitions $228KFY2023: Buybacks −$2.0MFY2023: Dividends −$15.7M$251MFY2023FY2024: Operating cash flow $218MFY2024: Net borrowing −$116MFY2024: Shares issued $58.4MFY2024: Asset sales $1.7MFY2024: Capital spending −$214MFY2024: Buybacks −$1.2MFY2024: Dividends −$25.3M$278MFY2024FY2025: Operating cash flow $563MFY2025: Net borrowing −$283MFY2025: Shares issued $216MFY2025: Asset sales $734KFY2025: Capital spending −$252MFY2025: Buybacks −$885KFY2025: Dividends −$10.4M$780MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were capital spending ($949M) and net borrowing ($414M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$767M
Debtnone
Net cash$767M

Hecla Mining funds itself: free cash flow was $532M over the last twelve months, with $767M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Hecla Mining: sources (+) and uses (−) of cash, Q3 2026Hecla Mining: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$208MOperating cash flow$203MOther investing$62.9MCapital spending−$51.7MDividends−$2.8MOther financing−$1.7MNet borrowing (+) / repaid (−)−$1.6MExchange rates−$33KAsset & business sales$27K
Hecla Mining: sources (+) and uses (−) of cash, TTM to Q3 2026Hecla Mining: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$789MCash drawn (+) / kept (−)−$558MOther investing$321MNet borrowing (+) / repaid (−)−$272MCapital spending−$258MDividends−$10.8MOther financing−$8.8MBuybacks−$4.5MAsset & business sales$786KShares issued$63KExchange rates$13K

From profit to cash

Hecla Mining: net income to operating cash flow, Q3 2026Hecla Mining: net income to operating cash flow, Q3 2026Net income$150MDepreciation & amortization$39.2MStock-based pay$3.4MDeferred taxes−$2.0MOther non-cash$1.8MReceivables−$6.7MInventory$11.1MPayables$25.7MPrepaid and other assets$5.3MOperating cash flow$203M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 20264214507
Q4 2025181541-7
Q3 20252220384
Q2 20252226417
Q1 2025202655-8
Q4 2024131845-14

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$203M−$51.7M—−$2.8M−$1.6M—−$208M$151M
Q2 2026$175M−$39.1M−$3.4M−$2.5M−$265M—$104M$136M
Q1 2026$194M−$39.3M−$1.2M−$2.8M−$1.2M$63K−$346M$155M
Q4 2025$217M−$127M—−$2.7M−$3.4M—−$108M$89.6M
Q3 2025$148M−$44.4M—−$2.7M−$292M$42.1M$163M$104M
Q2 2025$162M−$42.7M−$885K−$2.5M−$5.5M$174M−$273M$119M
Q1 2025$35.7M−$37.8M—−$2.5M$18.4M—$3.2M−$2.1M
Q4 2024$67.5M−$60.8M—−$8.6M$7.2M—−$4.6M$6.7M

Hecla Mining: income statement and cash flow

Hecla Mining, Q3 2026: revenue $395M (+25% year over year), operating margin 39.8%. The chart follows the revenue to costs, profit and cash.

Hecla Mining: 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.