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Hub Group cash flow, quarter by quarter

Latest: Q3 2025 · from the cash-flow statements filed with the SEC

Free cash flow$19.4M in Q3 2025 · $113M over twelve months

Operating cash flow$28.1M
Capital spending−$8.7M
Free cash flow+$19.4M
Cash / net income1.0×

Analysis

In Q3 2025, Hub Group generated $28.1M of operating cash flow and spent $8.7M on capital projects, leaving free cash flow of $19.4M. That is $12.0M less than in Q3 2024 ($31.4M).

Over the twelve months to Sep 30, 2025, operating cash flow was $160M; the largest uses were capital spending ($46.8M), other investing ($44.2M), net borrowing (+) / repaid (−) ($35.9M); the cash balance fell by $39.6M.

Operating cash flow was $28.1M against net income of $28.6M — 1.0× profit, roughly in line with earnings. The largest differences: receivables −$51.4M, depreciation & amortization +$46.4M, other liabilities −$13.2M.

Free cash flow

Hub Group: free cash flow by quarterHub Group: free cash flow by quarter$65.1MQ4 2023$63.0MQ1 2024$56.2MQ2 2024$31.4MQ3 2024−$7.0MQ4 2024$50.8MQ1 2025$50.2MQ2 2025$19.4MQ3 2025
Operating cash flow less capital spending.
Hub Group: operating cash flow against capital spendingHub Group: operating cash flow against capital spendingOperating cash flowCapital spending$99.5M$34.4MQ4 2023$80.5M$17.5MQ1 2024$69.9M$13.7MQ2 2024$43.4M$12.0MQ3 2024$604K$7.6MQ4 2024$70.0M$19.2MQ1 2025$61.5M$11.3MQ2 2025$28.1M$8.7MQ3 2025
Latest (Q3 2025): Operating cash flow $28.1M, Capital spending $8.7M.

Capital allocation, year by year

Hub Group: where the cash came from (up) and went (down), by fiscal yearHub Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2020: Operating cash flow $175MFY2020: Net borrowing −$14.3MFY2020: Capital spending −$115MFY2020: Acquisitions −$84.8M$175MFY2020FY2021: Operating cash flow $253MFY2021: Net borrowing $1.7MFY2021: Capital spending −$133MFY2021: Acquisitions −$122M$255MFY2021FY2022: Operating cash flow $458MFY2022: Net borrowing $65.6MFY2022: Capital spending −$219MFY2022: Acquisitions −$103MFY2022: Buybacks −$75.0M$524MFY2022FY2023: Operating cash flow $422MFY2023: Net borrowing $5.5MFY2023: Capital spending −$140MFY2023: Acquisitions −$261MFY2023: Buybacks −$144M$428MFY2023FY2024: Operating cash flow $194MFY2024: Net borrowing −$90.9MFY2024: Capital spending −$50.8MFY2024: Acquisitions −$14.6MFY2024: Buybacks −$68.3MFY2024: Dividends −$30.2M$194MFY2024
Over these 5 years operating cash flow totalled $1.5B; the largest uses were capital spending ($658M) and acquisitions ($585M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$120M
Debt$255M
Net debt$135M
Due within a year$100M

Hub Group funds itself: free cash flow was $113M over the last twelve months, and $120M of cash and investments stands against $255M of debt ($100M due within a year, 1.2× covered by cash).

Hub Group: debt maturities by year (FY2024)Hub Group: debt maturities by year (FY2024)$100MYear 1$84.8MYear 2$55.6MYear 3$22.5MYear 4$1.5MYear 5
Principal due in each year as disclosed in the annual report, against $120M of cash and investments now.

Where the cash came from and went

Hub Group: sources (+) and uses (−) of cash, Q3 2025Hub Group: sources (+) and uses (−) of cash, Q3 2025Other investing−$50.6MOperating cash flow$28.1MNet borrowing (+) / repaid (−)$22.9MCash drawn (+) / kept (−)$17.1MCapital spending−$8.7MDividends−$7.5MAcquisitions−$1.3MExchange rates$133KTaxes on employees’ shares−$102K
Hub Group: sources (+) and uses (−) of cash, TTM to Q3 2025Hub Group: sources (+) and uses (−) of cash, TTM to Q3 2025Operating cash flow$160MCapital spending−$46.8MOther investing−$44.2MCash drawn (+) / kept (−)$39.6MNet borrowing (+) / repaid (−)−$35.9MDividends−$30.0MAcquisitions−$19.6MBuybacks−$13.8MTaxes on employees’ shares−$8.5MOther financing−$1.1MExchange rates$51K

From profit to cash

Hub Group: net income to operating cash flow, Q3 2025Hub Group: net income to operating cash flow, Q3 2025Net income$28.9MDepreciation & amortization$46.4MStock-based pay$5.0MGains on disposals−$545KReceivables−$51.4MPayables$6.7MAccrued liabilities$3.4MPrepaid and other assets−$5.7MOther liabilities−$13.2MOperating cash flow$28.1M
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 2025$28.1M−$8.7M−$1.3M—−$7.5M$22.9M$17.1M$19.4M
Q2 2025$61.5M−$11.3M——−$7.5M−$20.5M−$22.5M$50.2M
Q1 2025$70.0M−$19.2M—−$13.8M−$7.5M−$12.5M−$14.2M$50.8M
Q4 2024$604K−$7.6M−$18.3M—−$7.5M−$25.8M$59.2M−$7.0M
Q3 2024$43.4M−$12.0M—−$35.3M−$7.5M−$26.3M$34.1M$31.4M
Q2 2024$69.9M−$13.7M$3.7M−$7.2M−$7.6M−$22.4M−$24.9M$56.2M
Q1 2024$80.5M−$17.5M—−$25.8M−$7.6M−$16.5M−$8.1M$63.0M
Q4 2023$99.5M−$34.4M−$261M−$26.4M—$3.5M$213M$65.1M

Hub Group: income statement and cash flow

Hub Group, Q3 2025: revenue $934M (-5% year over year), operating margin 4.2%. The chart follows the revenue to costs, profit and cash.

Hub Group: 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.