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LGI Homes cash flow, quarter by quarter

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

Free cash flow$37.9M in Q3 2026 · $182M over twelve months

Operating cash flow$38.9M
Capital spending−$997K
Free cash flow+$37.9M
Cash / net income1.6×

Analysis

In Q3 2026, LGI Homes generated $38.9M of operating cash flow and spent $997K on capital projects, leaving free cash flow of $37.9M. That is $51.2M more than in Q3 2025 (−$13.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $185M; the largest uses were net borrowing (+) / repaid (−) ($212M), other financing ($14.2M), other investing ($3.5M); besides operations, cash came from asset & business sales ($51.5M), shares issued ($3.8M); the cash balance rose by $7.5M.

Operating cash flow was $38.9M against net income of $24.6M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: inventory −$32.6M, accrued liabilities +$18.4M, prepaid and other assets +$16.1M.

Free cash flow

LGI Homes: free cash flow by quarterLGI Homes: free cash flow by quarter$56.4MQ4 2024−$128MQ1 2025−$86.4MQ2 2025−$13.3MQ3 2025$86.8MQ4 2025−$56.2MQ1 2026$114MQ2 2026$37.9MQ3 2026
Operating cash flow less capital spending.
LGI Homes: operating cash flow against capital spendingLGI Homes: operating cash flow against capital spendingOperating cash flowCapital spending$57.0M$607KQ4 2024−$127M$831KQ1 2025−$86.4M$54KQ2 2025−$13.2M$39KQ3 2025$86.8M$0Q4 2025−$55.5M$696KQ1 2026$115M$816KQ2 2026$38.9M$997KQ3 2026
Latest (Q3 2026): Operating cash flow $38.9M, Capital spending $997K.

Capital allocation, year by year

LGI Homes: where the cash came from (up) and went (down), by fiscal yearLGI Homes: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $21.7MFY2021: Net borrowing $271MFY2021: Shares issued $7.1MFY2021: Acquisitions −$67.0MFY2021: Buybacks −$194M$300MFY2021FY2022: Operating cash flow −$370MFY2022: Net borrowing $311MFY2022: Shares issued $5.6MFY2022: Capital spending −$1.2MFY2022: Buybacks −$95.1M$317MFY2022FY2023: Operating cash flow −$57.0MFY2023: Net borrowing $141MFY2023: Shares issued $5.3MFY2023: Capital spending −$1.4M$147MFY2023FY2024: Operating cash flow −$144MFY2024: Net borrowing $232MFY2024: Shares issued $4.8MFY2024: Asset sales $25.4MFY2024: Capital spending −$2.0MFY2024: Buybacks −$31.0M$263MFY2024FY2025: Operating cash flow −$140MFY2025: Net borrowing $176MFY2025: Shares issued $3.6MFY2025: Asset sales $24.7MFY2025: Capital spending −$924KFY2025: Buybacks −$23.6M$204MFY2025
Over these 5 years operating cash flow totalled −$689M; the largest uses were operating cash flow ($711M) and buybacks ($343M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$69.4M
Debt$1.7B
Net debt$1.6B

LGI Homes funds itself: free cash flow was $182M over the last twelve months, and $69.4M of cash and investments stands against $1.7B of debt.

LGI Homes: debt maturities by year (FY2025)LGI Homes: debt maturities by year (FY2025)$494MYear 3$734MYear 4$50.0MYear 5$400MAfter year 5
Principal due in each year as disclosed in the annual report, against $69.4M of cash and investments now.

Where the cash came from and went

LGI Homes: sources (+) and uses (−) of cash, Q3 2026LGI Homes: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$38.9MNet borrowing (+) / repaid (−)−$37.8MAsset & business sales$8.6MCash drawn (+) / kept (−)−$8.4MOther investing−$1.3MCapital spending−$997KShares issued$994KOther financing−$110K
LGI Homes: sources (+) and uses (−) of cash, TTM to Q3 2026LGI Homes: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$212MOperating cash flow$185MAsset & business sales$51.5MOther financing−$14.2MCash drawn (+) / kept (−)−$7.5MShares issued$3.8MOther investing−$3.5MCapital spending−$2.5M

From profit to cash

LGI Homes: net income to operating cash flow, Q3 2026LGI Homes: net income to operating cash flow, Q3 2026Net income$24.6MDepreciation & amortization$1.6MStock-based pay$2.2MGains on disposals−$1.9MReceivables$4.8MInventory−$32.6MPayables$8.6MAccrued liabilities$18.4MPrepaid and other assets$16.1MOperating cash flow$38.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$38.9M−$997K—−$37.8M$994K−$8.4M$37.9M
Q2 2026$115M−$816K—−$130M$954K−$221K$114M
Q1 2026−$55.5M−$696K—$51.2M$1.2M$387K−$56.2M
Q4 2025$86.8M——−$95.9M$651K$732K$86.8M
Q3 2025−$13.2M−$39K—$11.0M$918K−$2.4M−$13.3M
Q2 2025−$86.4M−$54K−$20.6M$118M$848K−$2.0M−$86.4M
Q1 2025−$127M−$831K−$3.1M$142M$1.2M−$4.4M−$128M
Q4 2024$57.0M−$607K−$13.0M−$61.4M$813K$7.7M$56.4M

LGI Homes: income statement and cash flow

LGI Homes, Q3 2026: revenue $444M (+10% year over year), operating margin 7.5%. The chart follows the revenue to costs, profit and cash.

LGI Homes: 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.