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ST JOE cash flow, quarter by quarter

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

Free cash flow$56.8M in Q3 2026 · $184M over twelve months

Operating cash flow$57.7M
Capital spending−$837K
Free cash flow+$56.8M
Cash / net income1.6×

Analysis

In Q3 2026, ST JOE generated $57.7M of operating cash flow and spent $837K on capital projects, leaving free cash flow of $56.8M. That is $28.4M less than in Q3 2025 ($85.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $188M; the largest uses were buybacks ($80.6M), net borrowing (+) / repaid (−) ($38.9M), dividends ($36.6M); besides operations, cash came from asset & business sales ($21K); the cash balance fell by $8.2M.

Operating cash flow was $57.7M against net income of $37.1M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$11.1M, deferred revenue +$1.2M, stock-based pay +$358K.

Free cash flow

ST JOE: free cash flow by quarterST JOE: free cash flow by quarter$27.6MQ4 2024$27.8MQ1 2025$29.7MQ2 2025$85.2MQ3 2025$43.9MQ4 2025$40.2MQ1 2026$43.0MQ2 2026$56.8MQ3 2026
Operating cash flow less capital spending.
ST JOE: operating cash flow against capital spendingST JOE: operating cash flow against capital spendingOperating cash flowCapital spending$29.8M$2.2MQ4 2024$29.0M$1.2MQ1 2025$31.1M$1.4MQ2 2025$86.2M$1.0MQ3 2025$44.4M$535KQ4 2025$42.2M$2.0MQ1 2026$43.9M$977KQ2 2026$57.7M$837KQ3 2026
Latest (Q3 2026): Operating cash flow $57.7M, Capital spending $837K.

Capital allocation, year by year

ST JOE: where the cash came from (up) and went (down), by fiscal yearST JOE: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $112MFY2021: Net borrowing $66.9MFY2021: Asset sales $34KFY2021: Capital spending −$201MFY2021: Dividends −$18.8M$179MFY2021FY2022: Operating cash flow $48.2MFY2022: Net borrowing $164MFY2022: Asset sales $49KFY2022: Capital spending −$357MFY2022: Buybacks −$20.0MFY2022: Dividends −$23.5M$212MFY2022FY2023: Operating cash flow $104MFY2023: Net borrowing $68.2MFY2023: Asset sales $71KFY2023: Capital spending −$6.2MFY2023: Dividends −$25.7M$172MFY2023FY2024: Operating cash flow $108MFY2024: Net borrowing −$17.2MFY2024: Asset sales $88KFY2024: Capital spending −$7.7MFY2024: Buybacks −$3.4MFY2024: Dividends −$30.3M$108MFY2024FY2025: Operating cash flow $191MFY2025: Net borrowing −$46.8MFY2025: Asset sales $4.6MFY2025: Capital spending −$4.1MFY2025: Buybacks −$40.3MFY2025: Dividends −$33.6M$195MFY2025
Over these 5 years operating cash flow totalled $563M; the largest uses were capital spending ($575M) and dividends ($132M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$118M
Debt$362M
Net debt$244M
Due within a year$9.8M

ST JOE funds itself: free cash flow was $184M over the last twelve months, and $118M of cash and investments stands against $362M of debt ($9.8M due within a year, 12.0× covered by cash).

ST JOE: debt maturities by year (FY2025)ST JOE: debt maturities by year (FY2025)$9.8MYear 1$68.1MYear 2$37.0MYear 3$7.5MYear 4$8.1MYear 5$266MAfter year 5
Principal due in each year as disclosed in the annual report, against $118M of cash and investments now.

Where the cash came from and went

ST JOE: sources (+) and uses (−) of cash, Q3 2026ST JOE: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$57.7MBuybacks−$27.5MOther investing−$9.9MDividends−$9.1MNet borrowing (+) / repaid (−)−$8.9MCapital spending−$837KCash drawn (+) / kept (−)−$742KPartners−$738KAsset & business sales$7K
ST JOE: sources (+) and uses (−) of cash, TTM to Q3 2026ST JOE: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$188MBuybacks−$80.6MNet borrowing (+) / repaid (−)−$38.9MDividends−$36.6MOther investing−$34.3MCash drawn (+) / kept (−)$8.2MCapital spending−$4.3MPartners−$1.4MOther financing−$285KAsset & business sales$21K

From profit to cash

ST JOE: net income to operating cash flow, Q3 2026ST JOE: net income to operating cash flow, Q3 2026Net income$37.1MDepreciation & amortization$11.1MStock-based pay$358KGains on disposals$11KDeferred revenue$1.2MOperating cash flow$57.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$57.7M−$837K−$27.5M−$9.1M−$8.9M−$742K$56.8M
Q2 2026$43.9M−$977K−$32.7M−$9.1M−$11.0M$19.3M$43.0M
Q1 2026$42.2M−$2.0M−$5.2M−$9.2M−$11.0M−$7.4M$40.2M
Q4 2025$44.4M−$535K−$15.2M−$9.2M−$8.0M−$3.0M$43.9M
Q3 2025$86.2M−$1.0M−$8.8M−$8.1M−$28.5M−$36.7M$85.2M
Q2 2025$31.1M−$1.4M−$10.6M−$8.1M−$7.7M$4.8M$29.7M
Q1 2025$29.0M−$1.2M−$5.7M−$8.2M−$2.6M−$5.3M$27.8M
Q4 2024$29.8M−$2.2M—−$8.2M−$6.1M−$4.1M$27.6M

ST JOE: income statement and cash flow

ST JOE, Q3 2026: revenue $156M (-3% year over year), operating margin 39.4%. The chart follows the revenue to costs, profit and cash.

ST JOE: 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.