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Lindsay cash flow, quarter by quarter

Latest: Q4 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$39.6M in Q4 FY26

Operating cash flow$44.3M
Capital spending−$4.7M
Free cash flow+$39.6M
Cash / net income3.9×
Cash conversion cycle135 days

Analysis

In Q4 FY26, Lindsay generated $44.3M of operating cash flow and spent $4.7M on capital projects, leaving free cash flow of $39.6M. That is $10.2M less than in Q4 FY25 ($49.8M).

Operating cash flow was $44.3M against net income of $11.3M — 3.9× profit, cash ran ahead of reported earnings. The largest differences: receivables +$23.4M, inventory +$10.3M, payables −$8.1M.

Its cash conversion cycle was 135 days (receivables 71 + inventory 110 − payables 45).

Free cash flow

Lindsay: free cash flow by quarterLindsay: free cash flow by quarter$12.5MQ1 FY25$2.5MQ2 FY25$25.7MQ3 FY25$49.8MQ4 FY25−$15.1MQ1 FY26$11.6MQ2 FY26−$1.4MQ3 FY26$39.6MQ4 FY26
Operating cash flow less capital spending.
Lindsay: operating cash flow against capital spendingLindsay: operating cash flow against capital spendingOperating cash flowCapital spending$21.6M$9.1MQ1 FY25$12.3M$9.8MQ2 FY25$35.0M$9.3MQ3 FY25$64.0M$14.2MQ4 FY25−$597K$14.5MQ1 FY26$24.6M$13.0MQ2 FY26$6.7M$8.1MQ3 FY26$44.3M$4.7MQ4 FY26
Latest (Q4 FY26): Operating cash flow $44.3M, Capital spending $4.7M.

Capital allocation, year by year

Lindsay: where the cash came from (up) and went (down), by fiscal yearLindsay: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $3.0MFY22: Net borrowing −$218KFY22: Shares issued $2.9MFY22: Capital spending −$15.6MFY22: Dividends −$14.6M$5.9MFY22FY23: Operating cash flow $120MFY23: Net borrowing −$222KFY23: Shares issued $32KFY23: Capital spending −$18.8MFY23: Acquisitions −$30.8MFY23: Dividends −$15.1M$120MFY23FY24: Operating cash flow $95.8MFY24: Shares issued $479KFY24: Capital spending −$29.0MFY24: Buybacks −$22.5MFY24: Dividends −$15.5M$96.2MFY24FY25: Operating cash flow $133MFY25: Shares issued $1.5MFY25: Capital spending −$42.5MFY25: Buybacks −$11.5MFY25: Dividends −$15.7M$134MFY25FY26: Operating cash flow $74.9MFY26: Shares issued $805KFY26: Capital spending −$40.2MFY26: Buybacks −$80.7MFY26: Dividends −$15.4M$75.7MFY26
Over these 5 years operating cash flow totalled $426M; the largest uses were capital spending ($146M) and buybacks ($115M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$190M
Debt$115M
Net cash$74.8M

Lindsay funds itself: free cash flow was — over the last twelve months, and $190M of cash and investments stands against $115M of debt.

Where the cash came from and went

Lindsay: sources (+) and uses (−) of cash, Q4 FY26Lindsay: sources (+) and uses (−) of cash, Q4 FY26Operating cash flow$44.3MCash drawn (+) / kept (−)−$35.1MCapital spending−$4.7MDividends−$3.9MExchange rates−$913KOther investing$207KOther financing$10K

From profit to cash

Lindsay: net income to operating cash flow, Q4 FY26Lindsay: net income to operating cash flow, Q4 FY26Net income$11.3MDepreciation & amortization$6.0MStock-based pay$724KDeferred taxes$5.4MOther non-cash$1.1MReceivables$23.4MInventory$10.3MPayables−$8.1MPrepaid and other assets$4.6MOther liabilities−$6.5MOperating cash flow$44.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 FY267111045135
Q3 FY267811846150
Q2 FY267511344145
Q1 FY267112246147
Q4 FY257812140159
Q3 FY258212142162
Q2 FY256611340139
Q1 FY256512235152

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q4 FY26$44.3M−$4.7M—−$3.9M—−$35.1M$39.6M
Q3 FY26$6.7M−$8.1M−$25.2M−$3.8M—$31.4M−$1.4M
Q2 FY26$24.6M−$13.0M−$25.2M−$3.8M—$13.5M$11.6M
Q1 FY26−$597K−$14.5M−$30.3M−$3.9M—$51.0M−$15.1M
Q4 FY25$64.0M−$14.2M−$8.9M−$4.0M$313K−$54.5M$49.8M
Q3 FY25$35.0M−$9.3M−$1.2M−$3.9M$526K−$24.1M$25.7M
Q2 FY25$12.3M−$9.8M−$1.4M−$3.9M—$22.0M$2.5M
Q1 FY25$21.6M−$9.1M—−$3.9M—−$3.2M$12.5M

Lindsay: income statement and cash flow

Lindsay, Q4 FY26: revenue $162M (+5% year over year), operating margin 9.8%. The chart follows the revenue to costs, profit and cash.

Lindsay: 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.