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Kohl's cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$490M in Q2 FY27 · $1.0B over twelve months

Operating cash flow$552M
Capital spending−$62.0M
Free cash flow+$490M
Cash / net income3.7×

Analysis

In Q2 FY27, Kohl's generated $552M of operating cash flow and spent $62.0M on capital projects, leaving free cash flow of $490M.

Over the twelve months to Aug 1, 2026, operating cash flow was $1.4B; the largest uses were capital spending ($318M), net borrowing (+) / repaid (−) ($273M), other financing ($69.0M); besides operations, cash came from other investing ($11.0M); the cash balance rose by $647M.

Operating cash flow was $552M against net income of $151M — 3.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$173M, payables +$170M, accrued liabilities +$51.0M.

Free cash flow

Kohl's: free cash flow by quarterKohl's: free cash flow by quarter−$323MQ3 FY25$497MQ4 FY25−$202MQ1 FY26$508MQ2 FY26$16.0MQ3 FY26$686MQ4 FY26−$158MQ1 FY27$490MQ2 FY27
Operating cash flow less capital spending.
Kohl's: operating cash flow against capital spendingKohl's: operating cash flow against capital spendingOperating cash flowCapital spending−$195M$128MQ3 FY25$596M$99.0MQ4 FY25−$92.0M$110MQ1 FY26$598M$90.0MQ2 FY26$124M$108MQ3 FY26$750M$64.0MQ4 FY26−$74.0M$84.0MQ1 FY27$552M$62.0MQ2 FY27
Latest (Q2 FY27): Operating cash flow $552M, Capital spending $62.0M.

Capital allocation, year by year

Kohl's: where the cash came from (up) and went (down), by fiscal yearKohl's: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY22: Operating cash flow $2.3BFY22: Net borrowing −$637MFY22: Shares issued $1.0MFY22: Asset sales $35.0MFY22: Capital spending −$605MFY22: Buybacks −$1.4BFY22: Dividends −$147M$2.3BFY22FY23: Operating cash flow $282MFY23: Net borrowing −$1.0MFY23: Shares issued $1.0MFY23: Asset sales $43.0MFY23: Capital spending −$826MFY23: Buybacks −$658MFY23: Dividends −$239M$326MFY23FY24: Operating cash flow $1.2BFY24: Net borrowing −$339MFY24: Asset sales $26.0MFY24: Capital spending −$577MFY24: Dividends −$220M$1.2BFY24FY25: Operating cash flow $648MFY25: Net borrowing $209MFY25: Asset sales $6.0MFY25: Capital spending −$466MFY25: Dividends −$222M$863MFY25FY26: Operating cash flow $1.4BFY26: Net borrowing −$448MFY26: Asset sales $54.0MFY26: Capital spending −$372MFY26: Dividends −$56.0M$1.4BFY26
Over these 5 years operating cash flow totalled $5.7B; the largest uses were capital spending ($2.8B) and buybacks ($2.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$821M
Debt$1.3B
Net debt$504M

Kohl's funds itself: free cash flow was $1.0B over the last twelve months, and $821M of cash and investments stands against $1.3B of debt.

Where the cash came from and went

Kohl's: sources (+) and uses (−) of cash, Q2 FY27Kohl's: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$552MCash drawn (+) / kept (−)−$392MNet borrowing (+) / repaid (−)−$79.0MCapital spending−$62.0MDividends−$14.0MOther investing−$7.0MOther financing$2.0M
Kohl's: sources (+) and uses (−) of cash, TTM to Q2 FY27Kohl's: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$1.4BCash drawn (+) / kept (−)−$647MCapital spending−$318MNet borrowing (+) / repaid (−)−$273MOther financing−$69.0MDividends−$56.0MOther investing$11.0M

From profit to cash

Kohl's: net income to operating cash flow, Q2 FY27Kohl's: net income to operating cash flow, Q2 FY27Net income$151MDepreciation & amortization$173MStock-based pay$10.0MDeferred taxes−$19.0MOther non-cash−$3.0MInventory−$15.0MPayables$170MAccrued liabilities$51.0MPrepaid and other assets$29.0MOperating cash flow$552M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 FY27$552M−$62.0M−$14.0M−$79.0M−$392M$490M
Q1 FY27−$74.0M−$84.0M−$14.0M−$74.0M$245M−$158M
Q4 FY26$750M−$64.0M−$14.0M−$132M−$530M$686M
Q3 FY26$124M−$108M−$14.0M−$87.0M$30.0M$16.0M
Q2 FY26$598M−$90.0M−$14.0M−$23.0M−$21.0M$508M
Q1 FY26−$92.0M−$110M−$14.0M$236M−$19.0M−$202M
Q4 FY25$596M−$99.0M−$56.0M−$477M$40.0M$497M
Q3 FY25−$195M−$128M−$55.0M$660M$57.0M−$323M

Kohl's: income statement and cash flow

Kohl's, Q2 FY27: revenue $3.5B (-0.9% year over year), operating margin 7.4%. The chart follows the revenue to costs, profit and cash.

Kohl's: 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.