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LKQ cash flow, quarter by quarter

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

Free cash flow$372M in Q3 2026 · $610M over twelve months

Operating cash flow$411M
Capital spending−$39.0M
Free cash flow+$372M
Cash conversion cycle101 days

Analysis

In Q3 2026, LKQ generated $411M of operating cash flow and spent $39.0M on capital projects, leaving free cash flow of $372M. That is $15.0M less than in Q3 2025 ($387M).

Over the twelve months to Sep 30, 2026, operating cash flow was $796M; the largest uses were other financing ($531M), dividends ($306M), capital spending ($186M); besides operations, cash came from other investing ($385M), net borrowing (+) / repaid (−) ($47.0M); the cash balance rose by $33.0M.

Operating cash flow was $411M against net income of −$27.0M. The largest differences: payables +$145M, depreciation & amortization +$103M, impairments +$88.0M.

Its cash conversion cycle was 101 days (receivables 38 + inventory 145 − payables 82).

Free cash flow

LKQ: free cash flow by quarterLKQ: free cash flow by quarter$149MQ4 2024−$57.0MQ1 2025$243MQ2 2025$387MQ3 2025$274MQ4 2025−$96.0MQ1 2026$60.0MQ2 2026$372MQ3 2026
Operating cash flow less capital spending.
LKQ: operating cash flow against capital spendingLKQ: operating cash flow against capital spendingOperating cash flowCapital spending$235M$86.0MQ4 2024−$3.0M$54.0MQ1 2025$296M$53.0MQ2 2025$440M$53.0MQ3 2025$330M$56.0MQ4 2025−$56.0M$40.0MQ1 2026$111M$51.0MQ2 2026$411M$39.0MQ3 2026
Latest (Q3 2026): Operating cash flow $411M, Capital spending $39.0M.

Capital allocation, year by year

LKQ: where the cash came from (up) and went (down), by fiscal yearLKQ: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.4BFY2021: Net borrowing $1.3BFY2021: Asset sales $27.0MFY2021: Capital spending −$293MFY2021: Acquisitions −$124MFY2021: Buybacks −$877MFY2021: Dividends −$73.0M$2.7BFY2021FY2022: Operating cash flow $1.2BFY2022: Net borrowing −$48.0MFY2022: Asset sales $408MFY2022: Capital spending −$222MFY2022: Acquisitions −$4.0MFY2022: Buybacks −$1.0BFY2022: Dividends −$284M$1.7BFY2022FY2023: Operating cash flow $1.4BFY2023: Net borrowing −$939MFY2023: Asset sales $11.0MFY2023: Capital spending −$358MFY2023: Acquisitions −$2.2BFY2023: Buybacks −$38.0MFY2023: Dividends −$302M$1.4BFY2023FY2024: Operating cash flow $1.1BFY2024: Net borrowing −$314MFY2024: Asset sales −$11.0MFY2024: Capital spending −$311MFY2024: Acquisitions −$49.0MFY2024: Buybacks −$360MFY2024: Dividends −$318M$1.1BFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing −$708MFY2025: Asset sales $397MFY2025: Capital spending −$216MFY2025: Acquisitions $1.0MFY2025: Buybacks −$159MFY2025: Dividends −$310M$1.5BFY2025
Over these 5 years operating cash flow totalled $6.2B; the largest uses were buybacks ($2.5B) and acquisitions ($2.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$319M
Debtnone
Net cash$319M
Due within a year$32.0M

LKQ funds itself: free cash flow was $610M over the last twelve months, with $319M of cash and investments and no debt on the balance sheet ($32.0M due within a year, 10.0× covered by cash).

LKQ: debt maturities by year (FY2025)LKQ: debt maturities by year (FY2025)$32.0MYear 1$525MYear 2$1.1BYear 3$522MYear 4$9.0MYear 5$1.5BAfter year 5
Principal due in each year as disclosed in the annual report, against $319M of cash and investments now.

Where the cash came from and went

LKQ: sources (+) and uses (−) of cash, Q3 2026LKQ: sources (+) and uses (−) of cash, Q3 2026Other financing−$503MOperating cash flow$411MNet borrowing (+) / repaid (−)$274MDividends−$76.0MCapital spending−$39.0MBuybacks−$30.0MCash drawn (+) / kept (−)−$21.0MAcquisitions−$7.0MExchange rates−$7.0MOther investing−$2.0M
LKQ: sources (+) and uses (−) of cash, TTM to Q3 2026LKQ: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$796MOther financing−$531MOther investing$385MDividends−$306MCapital spending−$186MBuybacks−$123MNet borrowing (+) / repaid (−)$47.0MAcquisitions−$38.0MCash drawn (+) / kept (−)−$33.0MExchange rates−$11.0M

From profit to cash

LKQ: net income to operating cash flow, Q3 2026LKQ: net income to operating cash flow, Q3 2026Net income−$27.0MDepreciation & amortization$103MStock-based pay$9.0MImpairments$88.0MOther non-cash$10.0MReceivables$32.0MInventory−$8.0MPayables$145MPrepaid and other assets$33.0MOther liabilities−$8.0MIncome taxes payable−$4.0MOperating cash flow$411M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20263814582101
Q2 20263814581102
Q1 2026351438592
Q4 2025361519097
Q3 2025371438199
Q2 20253714279100
Q1 2025341468299
Q4 2024351488599

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$411M−$39.0M−$7.0M−$30.0M−$76.0M$274M−$21.0M$372M
Q2 2026$111M−$51.0M−$25.0M−$52.0M−$77.0M$76.0M$31.0M$60.0M
Q1 2026−$56.0M−$40.0M−$5.0M−$1.0M−$77.0M$202M−$7.0M−$96.0M
Q4 2025$330M−$56.0M−$1.0M−$40.0M−$76.0M−$505M−$36.0M$274M
Q3 2025$440M−$53.0M—−$40.0M−$78.0M−$262M−$3.0M$387M
Q2 2025$296M−$53.0M$2.0M−$39.0M−$78.0M−$111M−$62.0M$243M
Q1 2025−$3.0M−$54.0M—−$40.0M−$78.0M$170M$8.0M−$57.0M
Q4 2024$235M−$86.0M−$3.0M−$80.0M−$78.0M−$62.0M$131M$149M

LKQ: income statement and cash flow

LKQ, Q3 2026: revenue $3.3B (-5% year over year), operating margin 1.6%. The chart follows the revenue to costs, profit and cash.

LKQ: 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.