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JBG Smith Properties cash flow, quarter by quarter

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

Free cash flow$18.7M in Q3 2026 · $70.6M over twelve months

Operating cash flow$18.7M
Free cash flow+$18.7M

Analysis

In Q3 2026, JBG Smith Properties generated $18.7M of operating cash flow. That is $9.8M more than in Q3 2025 ($8.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $70.6M; the largest uses were other investing ($113M), dividends ($41.3M), buybacks ($36.3M); besides operations, cash came from net borrowing (+) / repaid (−) ($83.3M), asset & business sales ($57.1M); the cash balance rose by $16.3M.

Operating cash flow was $18.7M against net income of −$100M. The largest differences: impairments +$69.2M, depreciation & amortization +$46.6M, prepaid and other assets −$11.9M.

Free cash flow

JBG Smith Properties: free cash flow by quarterJBG Smith Properties: free cash flow by quarter$42.2MQ4 2024$12.9MQ1 2025$18.8MQ2 2025$8.9MQ3 2025$32.6MQ4 2025$3.4MQ1 2026$15.8MQ2 2026$18.7MQ3 2026
Operating cash flow less capital spending.
JBG Smith Properties: operating cash flow against capital spendingJBG Smith Properties: operating cash flow against capital spendingOperating cash flowCapital spending$42.2M$0Q4 2024$12.9M$0Q1 2025$18.8M$0Q2 2025$8.9M$0Q3 2025$32.6M$0Q4 2025$3.4M$0Q1 2026$15.8M$0Q2 2026$18.7M$0Q3 2026
Latest (Q3 2026): Operating cash flow $18.7M, Capital spending $0.

Capital allocation, year by year

JBG Smith Properties: where the cash came from (up) and went (down), by fiscal yearJBG Smith Properties: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesBuybacksDividendsFY2021: Operating cash flow $218MFY2021: Net borrowing $464MFY2021: Shares issued $1.6MFY2021: Asset sales $14.4MFY2021: Buybacks −$158MFY2021: Dividends −$118M$698MFY2021FY2022: Operating cash flow $178MFY2022: Net borrowing −$421MFY2022: Shares issued $1.5MFY2022: Asset sales $929MFY2022: Buybacks −$361MFY2022: Dividends −$108M$1.1BFY2022FY2023: Operating cash flow $183MFY2023: Net borrowing −$49.9MFY2023: Shares issued $1.1MFY2023: Asset sales $282MFY2023: Buybacks −$335MFY2023: Dividends −$94.0M$466MFY2023FY2024: Operating cash flow $129MFY2024: Net borrowing $12.9MFY2024: Shares issued $945KFY2024: Asset sales $202MFY2024: Buybacks −$171MFY2024: Dividends −$62.0M$345MFY2024FY2025: Operating cash flow $73.3MFY2025: Net borrowing −$105MFY2025: Shares issued $800KFY2025: Asset sales $545MFY2025: Buybacks −$444MFY2025: Dividends −$48.4M$619MFY2025
Over these 5 years operating cash flow totalled $782M; the largest uses were buybacks ($1.5B) and net borrowing ($575M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$78.5M
Debtnone
Net cash$78.5M
Due within a year$171M

JBG Smith Properties funds itself: free cash flow was $70.6M over the last twelve months, with $78.5M of cash and investments and no debt on the balance sheet ($171M due within a year, 0.5× covered by cash).

JBG Smith Properties: debt maturities by year (FY2025)JBG Smith Properties: debt maturities by year (FY2025)$171MYear 1$676MYear 2$610MYear 3$279MYear 4$810MYear 5
Principal due in each year as disclosed in the annual report, against $78.5M of cash and investments now.

Where the cash came from and went

JBG Smith Properties: sources (+) and uses (−) of cash, Q3 2026JBG Smith Properties: sources (+) and uses (−) of cash, Q3 2026Other investing−$25.7MOperating cash flow$18.7MNet borrowing (+) / repaid (−)$11.5MDividends−$10.3MPartners−$5.1MCash drawn (+) / kept (−)$4.0MOther financing$3.8MAsset & business sales$3.0MShares issued$141K
JBG Smith Properties: sources (+) and uses (−) of cash, TTM to Q3 2026JBG Smith Properties: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$113MNet borrowing (+) / repaid (−)$83.3MOperating cash flow$70.6MAsset & business sales$57.1MDividends−$41.3MBuybacks−$36.3MCash drawn (+) / kept (−)−$16.3MPartners−$14.1MOther financing$9.1MShares issued$740K

From profit to cash

JBG Smith Properties: net income to operating cash flow, Q3 2026JBG Smith Properties: net income to operating cash flow, Q3 2026Net income−$100MDepreciation & amortization$46.6MStock-based pay$5.3MImpairments$69.2MOther non-cash$398KPayables$8.9MPrepaid and other assets−$11.9MOther liabilities$2.1MOperating cash flow$18.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$18.7M—−$10.3M$11.5M$141K$4.0M$18.7M
Q2 2026$15.8M−$3.0M−$10.2M$1.3M$214K$6.8M$15.8M
Q1 2026$3.4M−$25.4M−$10.4M$23.5M$238K−$11.6M$3.4M
Q4 2025$32.6M−$7.9M−$10.4M$45.0M$147K−$15.5M$32.6M
Q3 2025$8.9M−$62.9M−$10.8M−$60.2M$166K$3.2M$8.9M
Q2 2025$18.8M−$225M−$12.4M−$24.0M$243K$29.4M$18.8M
Q1 2025$12.9M−$148M−$14.8M−$65.8M$244K$62.9M$12.9M
Q4 2024$42.2M−$2.4M−$14.8M−$42.0M$153K−$13.0M$42.2M

JBG Smith Properties: income statement and cash flow

JBG Smith Properties, Q3 2026: revenue $132M (+7% year over year), operating margin 5.7%. The chart follows the revenue to costs, profit and cash.

JBG Smith Properties: 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.