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LCI Industries cash flow, quarter by quarter

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

Free cash flow$53.6M in Q3 2026 · $260M over twelve months

Operating cash flow$67.1M
Capital spending−$13.4M
Free cash flow+$53.6M
Cash / net income1.3×
Cash conversion cycle106 days

Analysis

In Q3 2026, LCI Industries generated $67.1M of operating cash flow and spent $13.4M on capital projects, leaving free cash flow of $53.6M. That is $27.3M less than in Q3 2025 ($80.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $316M; the largest uses were dividends ($112M), other financing ($103M), capital spending ($56.5M); besides operations, cash came from other investing ($10.2M); the cash balance rose by $45.9M.

Operating cash flow was $67.1M against net income of $50.1M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: accrued liabilities −$72.9M, prepaid and other assets +$45.5M, depreciation & amortization +$28.9M.

Its cash conversion cycle was 106 days (receivables 36 + inventory 96 − payables 26).

Free cash flow

LCI Industries: free cash flow by quarterLCI Industries: free cash flow by quarter$95.7MQ4 2024$33.7MQ1 2025$99.5MQ2 2025$80.9MQ3 2025$64.3MQ4 2025−$43.1MQ1 2026$185MQ2 2026$53.6MQ3 2026
Operating cash flow less capital spending.
LCI Industries: operating cash flow against capital spendingLCI Industries: operating cash flow against capital spendingOperating cash flowCapital spending$107M$10.9MQ4 2024$42.7M$9.0MQ1 2025$112M$12.7MQ2 2025$97.2M$16.3MQ3 2025$78.9M$14.6MQ4 2025−$33.5M$9.7MQ1 2026$204M$18.8MQ2 2026$67.1M$13.4MQ3 2026
Latest (Q3 2026): Operating cash flow $67.1M, Capital spending $13.4M.

Capital allocation, year by year

LCI Industries: where the cash came from (up) and went (down), by fiscal yearLCI Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow −$112MFY2021: Net borrowing $482MFY2021: Capital spending −$98.5MFY2021: Acquisitions −$194MFY2021: Dividends −$87.2M$482MFY2021FY2022: Operating cash flow $603MFY2022: Net borrowing −$105MFY2022: Capital spending −$131MFY2022: Acquisitions −$108MFY2022: Buybacks −$24.1MFY2022: Dividends −$103M$603MFY2022FY2023: Operating cash flow $527MFY2023: Net borrowing −$216MFY2023: Capital spending −$62.2MFY2023: Acquisitions −$25.9MFY2023: Dividends −$106M$527MFY2023FY2024: Operating cash flow $370MFY2024: Net borrowing −$52.5MFY2024: Capital spending −$42.3MFY2024: Acquisitions −$20.0MFY2024: Dividends −$109M$370MFY2024FY2025: Operating cash flow $331MFY2025: Net borrowing $429MFY2025: Capital spending −$52.6MFY2025: Acquisitions −$113MFY2025: Buybacks −$129MFY2025: Dividends −$114M$760MFY2025
Over these 5 years operating cash flow totalled $1.7B; the largest uses were dividends ($520M) and acquisitions ($461M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$246M
Debt$852M
Net debt$607M
Due within a year$3.6M

LCI Industries funds itself: free cash flow was $260M over the last twelve months, and $246M of cash and investments stands against $852M of debt ($3.6M due within a year, 67.3× covered by cash).

Where the cash came from and went

LCI Industries: sources (+) and uses (−) of cash, Q3 2026LCI Industries: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$67.1MCash drawn (+) / kept (−)−$29.1MDividends−$28.0MCapital spending−$13.4MOther investing$6.1MExchange rates−$1.6MOther financing−$1.0M
LCI Industries: sources (+) and uses (−) of cash, TTM to Q3 2026LCI Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$316MDividends−$112MOther financing−$103MCapital spending−$56.5MCash drawn (+) / kept (−)−$45.9MOther investing$10.2MAcquisitions−$9.7MExchange rates$732K

From profit to cash

LCI Industries: net income to operating cash flow, Q3 2026LCI Industries: net income to operating cash flow, Q3 2026Net income$50.1MDepreciation & amortization$28.9MStock-based pay$4.7MGains on disposals−$1.7MOther non-cash$5.9MReceivables−$3.7MInventory$22.2MPayables−$12.1MAccrued liabilities−$72.9MPrepaid and other assets$45.5MOperating cash flow$67.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026369626106
Q2 20263610929116
Q1 202626912393
Q4 2025309827101
Q3 202533852692
Q2 202531782484
Q1 202524822383
Q4 20243010528107

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$67.1M−$13.4M——−$28.0M—−$29.1M$53.6M
Q2 2026$204M−$18.8M——−$28.0M—−$74.3M$185M
Q1 2026−$33.5M−$9.7M——−$27.9M—$80.4M−$43.1M
Q4 2025$78.9M−$14.6M−$9.7M—−$27.8M—−$22.9M$64.3M
Q3 2025$97.2M−$16.3M−$4.8M−$62.2M−$27.8M—−$7.8M$80.9M
Q2 2025$112M−$12.7M−$68.6M−$38.1M−$29.0M—$39.3M$99.5M
Q1 2025$42.7M−$9.0M−$29.6M−$28.3M−$29.4M$429M−$65.5M$33.7M
Q4 2024$107M−$10.9M——−$29.3M−$51.0M−$4.6M$95.7M

LCI Industries: income statement and cash flow

LCI Industries, Q3 2026: revenue $992M (-4% year over year), operating margin 7.6%. The chart follows the revenue to costs, profit and cash.

LCI Industries: 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.