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Natural Alternatives International cash flow, quarter by quarter

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

Free cash flow−$1.7M in Q4 FY26

Operating cash flow−$1.1M
Capital spending−$637K
Free cash flow−$1.7M
Cash conversion cycle88 days

Analysis

In Q4 FY26, Natural Alternatives International generated −$1.1M of operating cash flow and spent $637K on capital projects, leaving free cash flow of −$1.7M. That is $3.6M less than in Q4 FY25 ($1.9M).

Operating cash flow was −$1.1M against net income of −$13.5M. The largest differences: payables +$1.4M, prepaid and other assets +$1.3M, depreciation & amortization +$1.2M.

Its cash conversion cycle was 88 days (receivables 54 + inventory 84 − payables 50).

Free cash flow

Natural Alternatives International: free cash flow by quarterNatural Alternatives International: free cash flow by quarter−$3.7MQ1 FY25−$1.0MQ2 FY25$5.2MQ3 FY25$1.9MQ4 FY25−$5.1MQ1 FY26−$7.3MQ2 FY26$1.4MQ3 FY26−$1.7MQ4 FY26
Operating cash flow less capital spending.
Natural Alternatives International: operating cash flow against capital spendingNatural Alternatives International: operating cash flow against capital spendingOperating cash flowCapital spending−$3.4M$301KQ1 FY25$37K$1.1MQ2 FY25$6.0M$802KQ3 FY25$3.3M$1.5MQ4 FY25−$4.0M$1.0MQ1 FY26−$6.3M$934KQ2 FY26$2.5M$1.1MQ3 FY26−$1.1M$637KQ4 FY26
Latest (Q4 FY26): Operating cash flow −$1.1M, Capital spending $637K.

Capital allocation, year by year

Natural Alternatives International: where the cash came from (up) and went (down), by fiscal yearNatural Alternatives International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY22: Operating cash flow $11.9MFY22: Net borrowing $9.8MFY22: Asset sales $30KFY22: Capital spending −$26.5MFY22: Buybacks −$5.5M$21.7MFY22FY23: Operating cash flow $7.0MFY23: Net borrowing −$278KFY23: Asset sales $57KFY23: Capital spending −$13.5MFY23: Buybacks −$1.5M$7.1MFY23FY24: Operating cash flow −$1.5MFY24: Net borrowing $3.4MFY24: Capital spending −$3.0MFY24: Buybacks −$221K$3.4MFY24FY25: Operating cash flow $5.9MFY25: Net borrowing −$1.5MFY25: Capital spending −$3.6MFY25: Buybacks −$178K$5.9MFY25FY26: Operating cash flow −$8.9MFY26: Net borrowing $7.9MFY26: Capital spending −$3.7MFY26: Buybacks −$89K$7.9MFY26
Over these 5 years operating cash flow totalled $14.4M; the largest uses were capital spending ($50.3M) and operating cash flow ($10.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$7.4M
Debtnone
Net cash$7.4M
Cash runway13 months

Natural Alternatives International is burning cash: its operations consume cash, a free cash flow of −$6.8M a year at the current rate against $7.4M of cash and investments: a runway of about 13 months before any new financing.

Where the cash came from and went

Natural Alternatives International: sources (+) and uses (−) of cash, Q4 FY26Natural Alternatives International: sources (+) and uses (−) of cash, Q4 FY26Cash drawn (+) / kept (−)$1.7MOperating cash flow−$1.1MCapital spending−$637KOther financing−$17KBuybacks−$2K

From profit to cash

Natural Alternatives International: net income to operating cash flow, Q4 FY26Natural Alternatives International: net income to operating cash flow, Q4 FY26Net income−$13.5MDepreciation & amortization$1.2MStock-based pay$108KGains on disposals$4KReceivables−$62KInventory−$819KPayables$1.4MEmployee-related liabilities−$873KPrepaid and other assets$1.3MIncome taxes payable$68KOperating cash flow−$1.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 FY2654845088
Q3 FY2649814485
Q2 FY2648915288
Q1 FY2641774969
Q4 FY2535784271
Q3 FY2545843692
Q2 FY2547692690
Q1 FY2548753489

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q4 FY26−$1.1M−$637K−$2K—$1.7M−$1.7M
Q3 FY26$2.5M−$1.1M−$82K$4.1M−$5.4M$1.4M
Q2 FY26−$6.3M−$934K—$3.3M$4.0M−$7.3M
Q1 FY26−$4.0M−$1.0M−$5K$477K$4.6M−$5.1M
Q4 FY25$3.3M−$1.5M−$2K−$174K−$1.7M$1.9M
Q3 FY25$6.0M−$802K−$168K−$3.1M−$1.9M$5.2M
Q2 FY25$37K−$1.1M—−$874K$1.5M−$1.0M
Q1 FY25−$3.4M−$301K−$8K$2.0M$1.8M−$3.7M

Natural Alternatives International: income statement and cash flow

Natural Alternatives International, Q4 FY26: revenue $34.5M (+2% year over year), operating margin -38.2%. The chart follows the revenue to costs, profit and cash.

Natural Alternatives International: 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.