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Hovnanian Enterprises cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow−$27.9M in Q3 FY26 · $198M over twelve months

Operating cash flow−$24.0M
Capital spending−$3.8M
Free cash flow−$27.9M

Analysis

In Q3 FY26, Hovnanian Enterprises generated −$24.0M of operating cash flow and spent $3.8M on capital projects, leaving free cash flow of −$27.9M. That is $73.6M less than in Q3 FY25 ($45.8M).

Over the twelve months to Jul 31, 2026, operating cash flow was $219M; the largest uses were net borrowing (+) / repaid (−) ($818M), other investing ($27.1M), capital spending ($21.1M); besides operations, cash came from other financing ($757M), asset & business sales ($4.5M); the cash balance rose by $96.2M.

Operating cash flow was −$24.0M against net income of −$2.2M. The largest differences: inventory −$71.4M, deferred revenue +$29.2M, payables +$26.8M.

Free cash flow

Hovnanian Enterprises: free cash flow by quarterHovnanian Enterprises: free cash flow by quarter$111MQ4 FY24−$59.6MQ1 FY25$16.0MQ2 FY25$45.8MQ3 FY25$164MQ4 FY25$132MQ1 FY26−$70.5MQ2 FY26−$27.9MQ3 FY26
Operating cash flow less capital spending.
Hovnanian Enterprises: operating cash flow against capital spendingHovnanian Enterprises: operating cash flow against capital spendingOperating cash flowCapital spending$116M$4.4MQ4 FY24−$55.9M$3.7MQ1 FY25$22.3M$6.3MQ2 FY25$52.8M$7.0MQ3 FY25$169M$5.1MQ4 FY25$141M$8.8MQ1 FY26−$67.1M$3.4MQ2 FY26−$24.0M$3.8MQ3 FY26
Latest (Q3 FY26): Operating cash flow −$24.0M, Capital spending $3.8M.

Capital allocation, year by year

Hovnanian Enterprises: where the cash came from (up) and went (down), by fiscal yearHovnanian Enterprises: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY21: Operating cash flow $210MFY21: Net borrowing −$183MFY21: Asset sales $32KFY21: Capital spending −$5.9M$210MFY21FY22: Operating cash flow $89.5MFY22: Net borrowing −$144MFY22: Asset sales $63KFY22: Capital spending −$12.6MFY22: Buybacks −$12.2MFY22: Dividends −$10.7M$89.5MFY22FY23: Operating cash flow $435MFY23: Net borrowing −$94.8MFY23: Asset sales $2.0MFY23: Capital spending −$18.8MFY23: Buybacks −$4.8MFY23: Dividends −$10.7M$437MFY23FY24: Operating cash flow $23.6MFY24: Net borrowing −$124MFY24: Asset sales $1.4MFY24: Capital spending −$17.9MFY24: Buybacks −$26.5MFY24: Dividends −$10.7M$25.1MFY24FY25: Operating cash flow $188MFY25: Net borrowing −$779MFY25: Asset sales $1.8MFY25: Capital spending −$22.1MFY25: Buybacks −$30.2MFY25: Dividends −$10.7M$190MFY25
Over these 5 years operating cash flow totalled $947M; the largest uses were net borrowing ($1.3B) and capital spending ($77.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$0
Debt$902M
Net debt$902M

Hovnanian Enterprises's operations consume cash (free cash flow −$111M a year), and no cash balance is on file to set against it.

Where the cash came from and went

Hovnanian Enterprises: sources (+) and uses (−) of cash, Q3 FY26Hovnanian Enterprises: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)$59.4MOther financing−$38.2MOperating cash flow−$24.0MNet borrowing (+) / repaid (−)$9.8MCapital spending−$3.8MOther investing−$3.2MBuybacks$78K
Hovnanian Enterprises: sources (+) and uses (−) of cash, TTM to Q3 FY26Hovnanian Enterprises: sources (+) and uses (−) of cash, TTM to Q3 FY26Net borrowing (+) / repaid (−)−$818MOther financing$757MOperating cash flow$219MCash drawn (+) / kept (−)−$96.2MOther investing−$27.1MCapital spending−$21.1MBuybacks−$18.4MAsset & business sales$4.5M

From profit to cash

Hovnanian Enterprises: net income to operating cash flow, Q3 FY26Hovnanian Enterprises: net income to operating cash flow, Q3 FY26Net income−$2.2MDepreciation & amortization$3.7MStock-based pay$5.5MReceivables−$12.8MInventory−$71.4MPayables$26.8MDeferred revenue$29.2MOperating cash flow−$24.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26−$24.0M−$3.8M—$78K—$9.8M$59.4M−$27.9M
Q2 FY26−$67.1M−$3.4M—−$9.5M—$36.2M$27.4M−$70.5M
Q1 FY26$141M−$8.8M$31.5M−$9.0M—−$31.0M−$59.1M$132M
Q4 FY25$169M−$5.1M—$58K−$2.7M−$884M−$124M$164M
Q3 FY25$52.8M−$7.0M—$94K−$2.7M$62.5M−$75.6M$45.8M
Q2 FY25$22.3M−$6.3M—−$12.3M−$2.7M$16.8M$25.0M$16.0M
Q1 FY25−$55.9M−$3.7M—−$18.1M—$25.4M$123M−$59.6M
Q4 FY24$116M−$4.4M—$11K−$2.7M$70.4M−$82.9M$111M

Hovnanian Enterprises: income statement and cash flow

Hovnanian Enterprises, Q3 FY26: revenue $706M (-12% year over year), operating margin -0.9%. The chart follows the revenue to costs, profit and cash.

Hovnanian Enterprises: 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.