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Net Lease Office Properties cash flow, quarter by quarter

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

Free cash flow$750K in Q3 2026 · $32.6M over twelve months

Operating cash flow$750K
Free cash flow+$750K

Analysis

In Q3 2026, Net Lease Office Properties generated $750K of operating cash flow. That is $15.6M less than in Q3 2025 ($16.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $32.6M; the largest uses were other financing ($286M), net borrowing (+) / repaid (−) ($47.6M), partners ($308K); besides operations, cash came from asset & business sales ($274M), other investing ($18.1M); the cash balance fell by $9.0M.

Operating cash flow was $750K against net income of −$606K. The largest differences: other operating capital −$2.3M, depreciation & amortization +$2.0M, deferred taxes −$0.

Free cash flow

Net Lease Office Properties: free cash flow by quarterNet Lease Office Properties: free cash flow by quarter$10.5MQ4 2024$14.1MQ1 2025$11.7MQ2 2025$16.3MQ3 2025$22.0MQ4 2025$8.1MQ1 2026$1.8MQ2 2026$750KQ3 2026
Operating cash flow less capital spending.
Net Lease Office Properties: operating cash flow against capital spendingNet Lease Office Properties: operating cash flow against capital spendingOperating cash flowCapital spending$10.5M$0Q4 2024$14.1M$0Q1 2025$11.7M$0Q2 2025$16.3M$0Q3 2025$22.0M$0Q4 2025$8.1M$0Q1 2026$1.8M$0Q2 2026$750K$0Q3 2026
Latest (Q3 2026): Operating cash flow $750K, Capital spending $0.

Capital allocation, year by year

Net Lease Office Properties: where the cash came from (up) and went (down), by fiscal yearNet Lease Office Properties: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesAcquisitionsDividendsFY2021: Operating cash flow $75.3M$75.3MFY2021FY2022: Operating cash flow $84.3MFY2022: Net borrowing −$39.9MFY2022: Acquisitions −$21.0M$84.3MFY2022FY2023: Operating cash flow $71.0MFY2023: Net borrowing $254MFY2023: Asset sales $38.9M$363MFY2023FY2024: Operating cash flow $71.9MFY2024: Net borrowing −$367MFY2024: Asset sales $310MFY2024: Dividends −$1.1M$382MFY2024FY2025: Operating cash flow $64.1MFY2025: Net borrowing −$111MFY2025: Asset sales $192M$256MFY2025
Over these 5 years operating cash flow totalled $367M; the largest uses were net borrowing ($518M) and acquisitions ($21.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$30.6M
Debt$21.9M
Net cash$8.7M
Due within a year$21.9M

Net Lease Office Properties funds itself: free cash flow was $32.6M over the last twelve months, and $30.6M of cash and investments stands against $21.9M of debt ($21.9M due within a year, 1.4× covered by cash).

Where the cash came from and went

Net Lease Office Properties: sources (+) and uses (−) of cash, Q3 2026Net Lease Office Properties: sources (+) and uses (−) of cash, Q3 2026Asset & business sales$26.4MNet borrowing (+) / repaid (−)−$22.3MCash drawn (+) / kept (−)−$4.8MOperating cash flow$750KPartners−$112KOther investing$47KExchange rates$9K
Net Lease Office Properties: sources (+) and uses (−) of cash, TTM to Q3 2026Net Lease Office Properties: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$286MAsset & business sales$274MNet borrowing (+) / repaid (−)−$47.6MOperating cash flow$32.6MOther investing$18.1MCash drawn (+) / kept (−)$9.0MPartners−$308KExchange rates−$15K

From profit to cash

Net Lease Office Properties: net income to operating cash flow, Q3 2026Net Lease Office Properties: net income to operating cash flow, Q3 2026Net income−$606KDepreciation & amortization$2.0MOther operating capital−$2.3MOperating cash flow$750K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$750K—−$22.3M−$4.8M$750K
Q2 2026$1.8M——$46.7M$1.8M
Q1 2026$8.1M——$48.6M$8.1M
Q4 2025$22.0M—−$25.3M−$81.5M$22.0M
Q3 2025$16.3M—−$24.9M$15.1M$16.3M
Q2 2025$11.7M—−$35.6M$9.6M$11.7M
Q1 2025$14.1M—−$25.7M$2.7M$14.1M
Q4 2024$10.5M−$1K−$69.8M$17.0M$10.5M

Net Lease Office Properties: income statement and cash flow

Net Lease Office Properties, Q3 2026: revenue $5.9M (-80% year over year), operating margin -90.0%. The chart follows the revenue to costs, profit and cash.

Net Lease Office Properties: 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.