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Hubbell cash flow, quarter by quarter

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

Free cash flow$280M in Q3 2026 · $928M over twelve months

Operating cash flow$323M
Capital spending−$42.2M
Free cash flow+$280M
Cash / net income1.2×
Cash conversion cycle108 days

Analysis

In Q3 2026, Hubbell generated $323M of operating cash flow and spent $42.2M on capital projects, leaving free cash flow of $280M. That is $26.6M more than in Q3 2025 ($254M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.1B; the largest uses were acquisitions ($3.8B), other financing ($718M), partners ($301M); besides operations, cash came from net borrowing (+) / repaid (−) ($3.8B), other investing ($14.4M); the cash balance fell by $328M.

Operating cash flow was $323M against net income of $265M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$92.3M, receivables −$86.0M, other liabilities +$73.6M.

Its cash conversion cycle was 108 days (receivables 58 + inventory 101 − payables 51).

Free cash flow

Hubbell: free cash flow by quarterHubbell: free cash flow by quarter$364MQ4 2024$11.4MQ1 2025$221MQ2 2025$254MQ3 2025$389MQ4 2025$46.0MQ1 2026$213MQ2 2026$280MQ3 2026
Operating cash flow less capital spending.
Hubbell: operating cash flow against capital spendingHubbell: operating cash flow against capital spendingOperating cash flowCapital spending$432M$68.0MQ4 2024$37.4M$26.0MQ1 2025$261M$39.9MQ2 2025$284M$30.5MQ3 2025$448M$58.7MQ4 2025$86.6M$40.6MQ1 2026$250M$37.0MQ2 2026$323M$42.2MQ3 2026
Latest (Q3 2026): Operating cash flow $323M, Capital spending $42.2M.

Capital allocation, year by year

Hubbell: where the cash came from (up) and went (down), by fiscal yearHubbell: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $514MFY2021: Net borrowing −$145MFY2021: Asset sales $8.5MFY2021: Capital spending −$90.2MFY2021: Acquisitions $100KFY2021: Buybacks −$11.2M$522MFY2021FY2022: Operating cash flow $636MFY2022: Net borrowing −$4.8MFY2022: Asset sales $333MFY2022: Capital spending −$129MFY2022: Acquisitions −$177MFY2022: Buybacks −$182M$969MFY2022FY2023: Operating cash flow $881MFY2023: Net borrowing $698MFY2023: Capital spending −$166MFY2023: Acquisitions −$1.2BFY2023: Buybacks −$30.0M$1.6BFY2023FY2024: Operating cash flow $991MFY2024: Net borrowing −$577MFY2024: Asset sales $123MFY2024: Capital spending −$180MFY2024: Acquisitions $5.9MFY2024: Buybacks −$40.0M$1.1BFY2024FY2025: Operating cash flow $1.0BFY2025: Net borrowing $764MFY2025: Asset sales $2.6MFY2025: Capital spending −$155MFY2025: Acquisitions −$958MFY2025: Buybacks −$225M$1.8BFY2025
Over these 5 years operating cash flow totalled $4.1B; the largest uses were acquisitions ($2.3B) and net borrowing ($727M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$355M
Debt$5.1B
Net debt$4.8B

Hubbell funds itself: free cash flow was $928M over the last twelve months, and $355M of cash and investments stands against $5.1B of debt.

Where the cash came from and went

Hubbell: sources (+) and uses (−) of cash, Q3 2026Hubbell: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$323MNet borrowing (+) / repaid (−)−$254MPartners−$75.0MCash drawn (+) / kept (−)$44.1MCapital spending−$42.2MOther investing$9.0MOther financing−$3.2MExchange rates−$900K
Hubbell: sources (+) and uses (−) of cash, TTM to Q3 2026Hubbell: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$3.8BNet borrowing (+) / repaid (−)$3.8BOperating cash flow$1.1BOther financing−$718MCash drawn (+) / kept (−)$328MPartners−$301MBuybacks−$204MCapital spending−$178MOther investing$14.4MExchange rates−$1.2M

From profit to cash

Hubbell: net income to operating cash flow, Q3 2026Hubbell: net income to operating cash flow, Q3 2026Net income$265MDepreciation & amortization$92.3MStock-based pay$8.1MDeferred taxes$5.3MGains on disposals$700KOther non-cash$300KReceivables−$86.0MInventory−$69.2MPayables$11.5MDeferred revenue−$51.5MOther liabilities$73.6MOther operating capital$21.4MOperating cash flow$323M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265810151108
Q2 20265610052104
Q1 2026549952101
Q4 20255410253103
Q3 20255510051104
Q2 202555925294
Q1 202555915392
Q4 202457975797

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$323M−$42.2M——−$254M$44.1M$280M
Q2 2026$250M−$37.0M−$3.0B−$36.0M$32.7M$119M$213M
Q1 2026$86.6M−$40.6M$2.4M−$168M$247M−$19.2M$46.0M
Q4 2025$448M−$58.7M−$829M—$600M$185M$389M
Q3 2025$284M−$30.5M−$55.9M—$149M−$284M$254M
Q2 2025$261M−$39.9M$100K−$100M−$13.6M−$35.8M$221M
Q1 2025$37.4M−$26.0M−$73.3M−$125M$291M−$17.2M$11.4M
Q4 2024$432M−$68.0M—−$10.0M−$214M$107M$364M

Hubbell: income statement and cash flow

Hubbell, Q3 2026: revenue $1.9B (+25% year over year), operating margin 21.8%. The chart follows the revenue to costs, profit and cash.

Hubbell: 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.