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Metallus cash flow, quarter by quarter

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

Free cash flow−$6.3M in Q3 2026 · −$97.5M over twelve months

Operating cash flow$6.8M
Capital spending−$13.1M
Free cash flow−$6.3M
Cash / net income0.3×
Cash conversion cycle81 days

Analysis

In Q3 2026, Metallus generated $6.8M of operating cash flow and spent $13.1M on capital projects, leaving free cash flow of −$6.3M. That is $100K more than in Q3 2025 (−$6.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$9.2M; the largest uses were capital spending ($88.3M), buybacks ($12.7M), operating cash flow ($9.2M); besides operations, cash came from other investing ($21.3M), shares issued ($400K); the cash balance fell by $93.6M.

Operating cash flow was $6.8M against net income of $23.8M — 0.3× profit, less cash than reported earnings, worth checking against working capital. The largest differences: inventory −$19.1M, depreciation & amortization +$14.5M, accrued liabilities +$8.6M.

Its cash conversion cycle was 81 days (receivables 42 + inventory 87 − payables 48).

Free cash flow

Metallus: free cash flow by quarterMetallus: free cash flow by quarter−$1.3MQ4 2024−$66.4MQ1 2025$17.0MQ2 2025−$6.4MQ3 2025−$37.2MQ4 2025−$51.6MQ1 2026−$2.4MQ2 2026−$6.3MQ3 2026
Operating cash flow less capital spending.
Metallus: operating cash flow against capital spendingMetallus: operating cash flow against capital spendingOperating cash flowCapital spending$13.9M$15.2MQ4 2024−$38.9M$27.5MQ1 2025$34.8M$17.8MQ2 2025$22.0M$28.4MQ3 2025−$1.9M$35.3MQ4 2025−$26.9M$24.7MQ1 2026$12.8M$15.2MQ2 2026$6.8M$13.1MQ3 2026
Latest (Q3 2026): Operating cash flow $6.8M, Capital spending $13.1M.

Capital allocation, year by year

Metallus: where the cash came from (up) and went (down), by fiscal yearMetallus: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $197MFY2021: Net borrowing −$38.9MFY2021: Shares issued $4.1MFY2021: Asset sales $1.2MFY2021: Capital spending −$12.2M$202MFY2021FY2022: Operating cash flow $134MFY2022: Net borrowing −$67.6MFY2022: Shares issued $8.0MFY2022: Asset sales $5.4MFY2022: Capital spending −$27.1MFY2022: Buybacks −$52.0M$148MFY2022FY2023: Operating cash flow $125MFY2023: Net borrowing −$18.7MFY2023: Shares issued $2.8MFY2023: Asset sales $1.7MFY2023: Capital spending −$51.6MFY2023: Buybacks −$32.6M$130MFY2023FY2024: Operating cash flow $40.3MFY2024: Net borrowing −$17.2MFY2024: Shares issued $1.4MFY2024: Capital spending −$64.3MFY2024: Buybacks −$37.6M$41.7MFY2024FY2025: Operating cash flow $16.0MFY2025: Net borrowing −$9.5MFY2025: Asset sales $1.7MFY2025: Capital spending −$109MFY2025: Buybacks −$13.1M$17.7MFY2025
Over these 5 years operating cash flow totalled $513M; the largest uses were capital spending ($264M) and net borrowing ($152M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$98.6M
Debtnone
Net cash$98.6M
Cash runway12 months

Metallus is burning cash: its operations consume cash, a free cash flow of −$97.5M a year at the current rate against $98.6M of cash and investments: a runway of about 12 months before any new financing.

Where the cash came from and went

Metallus: sources (+) and uses (−) of cash, Q3 2026Metallus: sources (+) and uses (−) of cash, Q3 2026Capital spending−$13.1MCash drawn (+) / kept (−)$10.0MOperating cash flow$6.8MBuybacks−$3.6MOther financing−$200KShares issued$100K
Metallus: sources (+) and uses (−) of cash, TTM to Q3 2026Metallus: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)$93.6MCapital spending−$88.3MOther investing$21.3MBuybacks−$12.7MOperating cash flow−$9.2MTaxes on employees’ shares−$3.0MOther financing−$2.1MShares issued$400K

From profit to cash

Metallus: net income to operating cash flow, Q3 2026Metallus: net income to operating cash flow, Q3 2026Net income$23.8MDepreciation & amortization$14.5MStock-based pay$3.6MGains on disposals$200KReceivables−$2.4MInventory−$19.1MPayables$400KAccrued liabilities$8.6MPrepaid and other assets−$6.3MOther operating capital−$1.0MOperating cash flow$6.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202642874881
Q2 202640825073
Q1 202640835271
Q4 202544855475
Q3 202539785166
Q2 202538764866
Q1 202535784667
Q4 202437884779

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$6.8M−$13.1M−$3.6M—$100K$10.0M−$6.3M
Q2 2026$12.8M−$15.2M−$3.6M——−$3.8M−$2.4M
Q1 2026−$26.9M−$24.7M−$4.3M—$300K$52.7M−$51.6M
Q4 2025−$1.9M−$35.3M−$1.2M——$34.7M−$37.2M
Q3 2025$22.0M−$28.4M−$3.0M——−$600K−$6.4M
Q2 2025$34.8M−$17.8M−$3.3M——−$9.7M$17.0M
Q1 2025−$38.9M−$27.5M−$5.6M——$60.0M−$66.4M
Q4 2024$13.9M−$15.2M−$3.5M−$17.2M—$14.0M−$1.3M

Metallus: income statement and cash flow

Metallus, Q3 2026: revenue $337M (+10% year over year), operating margin 9.6%. The chart follows the revenue to costs, profit and cash.

Metallus: 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.