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NN cash flow, quarter by quarter

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

Free cash flow−$1.3M in Q3 2026 · −$1.3M over twelve months

Operating cash flow$5.1M
Capital spending−$6.4M
Free cash flow−$1.3M
Cash conversion cycle62 days

Analysis

In Q3 2026, NN generated $5.1M of operating cash flow and spent $6.4M on capital projects, leaving free cash flow of −$1.3M. That is $9.0M less than in Q3 2025 ($7.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $15.4M; the largest uses were capital spending ($16.8M), net borrowing (+) / repaid (−) ($4.5M); besides operations, cash came from other financing ($5.0M), asset & business sales ($181K); the cash balance rose by $75K.

Operating cash flow was $5.1M against net income of −$4.6M. The largest differences: depreciation & amortization +$9.3M, receivables −$4.3M, payables +$3.5M.

Its cash conversion cycle was 62 days (receivables 52 + inventory 57 − payables 47).

Free cash flow

NN: free cash flow by quarterNN: free cash flow by quarter$3.7MQ4 2024−$7.3MQ1 2025−$4.4MQ2 2025$7.7MQ3 2025−$3.3MQ4 2025−$11.9MQ1 2026$15.2MQ2 2026−$1.3MQ3 2026
Operating cash flow less capital spending.
NN: operating cash flow against capital spendingNN: operating cash flow against capital spendingOperating cash flowCapital spending$6.7M$3.0MQ4 2024−$3.3M$3.9MQ1 2025−$696K$3.7MQ2 2025$11.2M$3.4MQ3 2025−$1.5M$1.9MQ4 2025−$8.6M$3.3MQ1 2026$20.4M$5.2MQ2 2026$5.1M$6.4MQ3 2026
Latest (Q3 2026): Operating cash flow $5.1M, Capital spending $6.4M.

Capital allocation, year by year

NN: where the cash came from (up) and went (down), by fiscal yearNN: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $15.6MFY2021: Net borrowing $70.9MFY2021: Shares issued $61.8MFY2021: Asset sales −$2.5MFY2021: Capital spending −$18.2M$148MFY2021FY2022: Operating cash flow $7.7MFY2022: Net borrowing −$3.0MFY2022: Asset sales $460KFY2022: Capital spending −$18.0M$8.2MFY2022FY2023: Operating cash flow $29.3MFY2023: Net borrowing −$4.4MFY2023: Asset sales $2.9MFY2023: Capital spending −$20.5M$32.2MFY2023FY2024: Operating cash flow $11.1MFY2024: Net borrowing −$35.0MFY2024: Asset sales $17.3MFY2024: Capital spending −$18.3M$28.4MFY2024FY2025: Operating cash flow $5.7MFY2025: Net borrowing −$4.7MFY2025: Asset sales $1.9MFY2025: Capital spending −$12.9M$7.6MFY2025
Over these 5 years operating cash flow totalled $69.4M; the largest uses were capital spending ($87.9M) and net borrowing ($47.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$12.3M
Debt$169M
Net debt$157M
Due within a year$5.8M

NN's operations bring cash in ($15.4M over twelve months), and it spends more than that on capital projects: a gap of $1.3M funded from its $12.3M of cash and investments and from borrowing ($169M of debt, $5.8M due within a year). That is a choice to invest, not a cash runway running down.

NN: debt maturities by year (FY2025)NN: debt maturities by year (FY2025)$5.8MYear 1$4.0MYear 2$4.2MYear 3$6.0MYear 4$121MYear 5$22.0MAfter year 5
Principal due in each year as disclosed in the annual report, against $12.3M of cash and investments now.

Where the cash came from and went

NN: sources (+) and uses (−) of cash, Q3 2026NN: sources (+) and uses (−) of cash, Q3 2026Capital spending−$6.4MOperating cash flow$5.1MCash drawn (+) / kept (−)$4.2MNet borrowing (+) / repaid (−)−$1.5MOther financing−$1.4MAsset & business sales$15KExchange rates−$9K
NN: sources (+) and uses (−) of cash, TTM to Q3 2026NN: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$16.8MOperating cash flow$15.4MOther financing$5.0MNet borrowing (+) / repaid (−)−$4.5MExchange rates$678KAsset & business sales$181KCash drawn (+) / kept (−)−$75K

From profit to cash

NN: net income to operating cash flow, Q3 2026NN: net income to operating cash flow, Q3 2026Net income−$4.6MDepreciation & amortization$9.3MStock-based pay$712KDeferred taxes$120KReceivables−$4.3MInventory−$327KPayables$3.5MPrepaid and other assets−$2.4MOther liabilities$1.1MIncome taxes payable$24KOperating cash flow$5.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202652574762
Q2 202651594663
Q1 202650614665
Q4 202554634770
Q3 202559674977
Q2 202555644673
Q1 202552614272
Q4 202454634077

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$5.1M−$6.4M−$1.5M$4.2M−$1.3M
Q2 2026$20.4M−$5.2M−$1.2M−$8.0M$15.2M
Q1 2026−$8.6M−$3.3M−$1.1M$2.9M−$11.9M
Q4 2025−$1.5M−$1.9M−$1.1M$838K−$3.3M
Q3 2025$11.2M−$3.4M−$6.6M−$2.7M$7.7M
Q2 2025−$696K−$3.7M$1.2M$2.2M−$4.4M
Q1 2025−$3.3M−$3.9M$930K$6.4M−$7.3M
Q4 2024$6.7M−$3.0M$4.0M−$5.7M$3.7M

NN: income statement and cash flow

NN, Q3 2026: revenue $131M (+26% year over year), operating margin -2.5%. The chart follows the revenue to costs, profit and cash.

NN: 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.