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Masco cash flow, quarter by quarter

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

Free cash flow$332M in Q3 2026 · $1.0B over twelve months

Operating cash flow$371M
Capital spending−$39.0M
Free cash flow+$332M
Cash / net income1.5×
Cash conversion cycle74 days

Analysis

In Q3 2026, Masco generated $371M of operating cash flow and spent $39.0M on capital projects, leaving free cash flow of $332M. That is $83.0M less than in Q3 2025 ($415M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.2B; the largest uses were buybacks ($1.1B), dividends ($255M), capital spending ($163M); besides operations, cash came from other financing ($289M), asset & business sales ($60.0M); the cash balance rose by $52.0M.

Operating cash flow was $371M against net income of $240M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: receivables +$66.0M, payables +$45.0M, depreciation & amortization +$37.0M.

Its cash conversion cycle was 74 days (receivables 61 + inventory 78 − payables 65).

Free cash flow

Masco: free cash flow by quarterMasco: free cash flow by quarter$351MQ4 2024−$190MQ1 2025$270MQ2 2025$415MQ3 2025$371MQ4 2025−$113MQ1 2026$453MQ2 2026$332MQ3 2026
Operating cash flow less capital spending.
Masco: operating cash flow against capital spendingMasco: operating cash flow against capital spendingOperating cash flowCapital spending$407M$56.0MQ4 2024−$158M$32.0MQ1 2025$306M$36.0MQ2 2025$456M$41.0MQ3 2025$418M$47.0MQ4 2025−$79.0M$34.0MQ1 2026$496M$43.0MQ2 2026$371M$39.0MQ3 2026
Latest (Q3 2026): Operating cash flow $371M, Capital spending $39.0M.

Capital allocation, year by year

Masco: where the cash came from (up) and went (down), by fiscal yearMasco: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $930MFY2021: Net borrowing −$5.0MFY2021: Shares issued $5.0MFY2021: Asset sales $5.0MFY2021: Capital spending −$128MFY2021: Acquisitions −$57.0MFY2021: Buybacks −$1.0BFY2021: Dividends −$211M$940MFY2021FY2022: Operating cash flow $840MFY2022: Net borrowing −$12.0MFY2022: Shares issued $1.0MFY2022: Asset sales $1.0MFY2022: Capital spending −$224MFY2022: Buybacks −$914MFY2022: Dividends −$258M$842MFY2022FY2023: Operating cash flow $1.4BFY2023: Net borrowing −$3.0MFY2023: Shares issued $38.0MFY2023: Asset sales $3.0MFY2023: Capital spending −$243MFY2023: Acquisitions −$136MFY2023: Buybacks −$353MFY2023: Dividends −$257M$1.5BFY2023FY2024: Operating cash flow $1.1BFY2024: Net borrowing −$3.0MFY2024: Shares issued $79.0MFY2024: Asset sales $127MFY2024: Capital spending −$168MFY2024: Acquisitions −$4.0MFY2024: Buybacks −$751MFY2024: Dividends −$254M$1.3BFY2024FY2025: Operating cash flow $1.0BFY2025: Net borrowing −$2.0MFY2025: Shares issued $6.0MFY2025: Asset sales $14.0MFY2025: Capital spending −$156MFY2025: Buybacks −$571MFY2025: Dividends −$261M$1.0BFY2025
Over these 5 years operating cash flow totalled $5.3B; the largest uses were buybacks ($3.6B) and dividends ($1.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$610M
Debt$2.9B
Net debt$2.3B
Due within a year$2.0M

Masco funds itself: free cash flow was $1.0B over the last twelve months, and $610M of cash and investments stands against $2.9B of debt ($2.0M due within a year, 305.0× covered by cash).

Masco: debt maturities by year (FY2025)Masco: debt maturities by year (FY2025)$2.0MYear 1$302MYear 2$602MYear 3$237MYear 4$302MYear 5
Principal due in each year as disclosed in the annual report, against $610M of cash and investments now.

Where the cash came from and went

Masco: sources (+) and uses (−) of cash, Q3 2026Masco: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$371MBuybacks−$260MCash drawn (+) / kept (−)−$63.0MDividends−$62.0MOther investing$62.0MCapital spending−$39.0MPartners−$12.0MShares issued$5.0MOther financing−$3.0MExchange rates$2.0MNot reconciled−$1.0M
Masco: sources (+) and uses (−) of cash, TTM to Q3 2026Masco: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.2BBuybacks−$1.1BOther financing$289MDividends−$255MCapital spending−$163MAsset & business sales$60.0MCash drawn (+) / kept (−)−$52.0MPartners−$40.0MShares issued$28.0MOther investing$15.0MTaxes on employees’ shares−$14.0MNot reconciled−$3.0M

From profit to cash

Masco: net income to operating cash flow, Q3 2026Masco: net income to operating cash flow, Q3 2026Net income$240MDepreciation & amortization$37.0MReceivables$66.0MInventory−$17.0MPayables$45.0MOperating cash flow$371M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202661786574
Q2 202661867275
Q1 202655776270
Q4 202557826475
Q3 202560796276
Q2 202557766272
Q1 202557776470
Q4 202455756466

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$371M−$39.0M−$260M−$62.0M—$5.0M−$63.0M$332M
Q2 2026$496M−$43.0M−$390M−$64.0M−$127M$5.0M−$159M$453M
Q1 2026−$79.0M−$34.0M−$202M−$65.0M$127M$18.0M$259M−$113M
Q4 2025$418M−$47.0M−$217M−$64.0M——−$89.0M$371M
Q3 2025$456M−$41.0M−$123M−$65.0M—$4.0M−$168M$415M
Q2 2025$306M−$36.0M−$101M−$66.0M−$85.0M—−$14.0M$270M
Q1 2025−$158M−$32.0M−$130M−$66.0M$131M$2.0M$257M−$190M
Q4 2024$407M−$56.0M−$269M−$63.0M—$3.0M$13.0M$351M

Masco: income statement and cash flow

Masco, Q3 2026: revenue $2.0B (+3% year over year), operating margin 17.2%. The chart follows the revenue to costs, profit and cash.

Masco: 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.