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NPK International cash flow, quarter by quarter

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

Free cash flow−$5.2M in Q3 2026 · $10.4M over twelve months

Operating cash flow$7.1M
Capital spending−$12.3M
Free cash flow−$5.2M
Cash / net income1.2×
Cash conversion cycle54 days

Analysis

In Q3 2026, NPK International generated $7.1M of operating cash flow and spent $12.3M on capital projects, leaving free cash flow of −$5.2M. That is $17.2M less than in Q3 2025 ($12.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $68.2M; the largest uses were capital spending ($57.8M), other investing ($43.0M), buybacks ($19.3M); besides operations, cash came from net borrowing (+) / repaid (−) ($15.9M), asset & business sales ($9.6M); the cash balance fell by $31.4M.

Operating cash flow was $7.1M against net income of $6.1M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$8.9M, receivables −$6.1M, inventory −$4.8M.

Its cash conversion cycle was 54 days (receivables 71 + inventory 25 − payables 41).

Free cash flow

NPK International: free cash flow by quarterNPK International: free cash flow by quarter−$17.7MQ4 2024−$1.2MQ1 2025$9.7MQ2 2025$12.0MQ3 2025$5.8MQ4 2025$4.4MQ1 2026$5.4MQ2 2026−$5.2MQ3 2026
Operating cash flow less capital spending.
NPK International: operating cash flow against capital spendingNPK International: operating cash flow against capital spendingOperating cash flowCapital spending−$4.1M$13.6MQ4 2024$8.8M$10.0MQ1 2025$21.4M$11.7MQ2 2025$24.7M$12.7MQ3 2025$18.0M$12.3MQ4 2025$21.1M$16.7MQ1 2026$21.9M$16.5MQ2 2026$7.1M$12.3MQ3 2026
Latest (Q3 2026): Operating cash flow $7.1M, Capital spending $12.3M.

Capital allocation, year by year

NPK International: where the cash came from (up) and went (down), by fiscal yearNPK International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$3.0MFY2021: Net borrowing $47.3MFY2021: Asset sales $16.0MFY2021: Capital spending −$21.8MFY2021: Acquisitions −$13.4MFY2021: Buybacks −$1.4M$63.3MFY2021FY2022: Operating cash flow −$25.0MFY2022: Net borrowing $144KFY2022: Asset sales $74.5MFY2022: Capital spending −$28.3MFY2022: Buybacks −$20.2M$74.6MFY2022FY2023: Operating cash flow $100MFY2023: Net borrowing −$35.7MFY2023: Shares issued $600KFY2023: Asset sales $23.5MFY2023: Capital spending −$29.2MFY2023: Buybacks −$34.3M$124MFY2023FY2024: Operating cash flow $38.2MFY2024: Net borrowing −$46.8MFY2024: Shares issued $100KFY2024: Asset sales $53.5MFY2024: Capital spending −$43.5MFY2024: Buybacks −$4.5M$91.8MFY2024FY2025: Operating cash flow $73.0MFY2025: Net borrowing $5.3MFY2025: Shares issued $1.5MFY2025: Asset sales $20.6MFY2025: Capital spending −$46.7MFY2025: Acquisitions −$42.4MFY2025: Buybacks −$22.7M$100MFY2025
Over these 5 years operating cash flow totalled $183M; the largest uses were capital spending ($170M) and buybacks ($83.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.2M
Debt$26.3M
Net debt$22.1M
Due within a year$6.0M

NPK International funds itself: free cash flow was $10.4M over the last twelve months, and $4.2M of cash and investments stands against $26.3M of debt ($6.0M due within a year, 0.7× covered by cash).

NPK International: debt maturities by year (FY2025)NPK International: debt maturities by year (FY2025)$6.0MYear 1$4.1MYear 2$1.9MYear 3$800KYear 4$5.4MYear 5
Principal due in each year as disclosed in the annual report, against $4.2M of cash and investments now.

Where the cash came from and went

NPK International: sources (+) and uses (−) of cash, Q3 2026NPK International: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$15.9MBuybacks−$13.4MCapital spending−$12.3MOperating cash flow$7.1MCash drawn (+) / kept (−)$4.1MOther financing−$1.6MAsset & business sales$792KOther investing−$627KExchange rates$10K
NPK International: sources (+) and uses (−) of cash, TTM to Q3 2026NPK International: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$68.2MCapital spending−$57.8MOther investing−$43.0MCash drawn (+) / kept (−)$31.4MBuybacks−$19.3MNet borrowing (+) / repaid (−)$15.9MAsset & business sales$9.6MOther financing−$5.6MShares issued$548KExchange rates$56K

From profit to cash

NPK International: net income to operating cash flow, Q3 2026NPK International: net income to operating cash flow, Q3 2026Net income$6.1MDepreciation & amortization$8.9MStock-based pay$2.0MGains on disposals−$49KReceivables−$6.1MInventory−$4.8MPayables−$1.3MAccrued liabilities$3.2MPrepaid and other assets−$2.4MOperating cash flow$7.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202671254154
Q2 202663184141
Q1 202666204343
Q4 202562214340
Q3 202568204346
Q2 202573224451
Q1 202571284554
Q4 202462395150

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$7.1M−$12.3M−$13.4M$15.9M—$4.1M−$5.2M
Q2 2026$21.9M−$16.5M−$3.2M—$37K−$1.8M$5.4M
Q1 2026$21.1M−$16.7M−$2.7M−$5.3M$491K−$1.4M$4.4M
Q4 2025$18.0M−$12.3M—$5.3M$20K$30.5M$5.8M
Q3 2025$24.7M−$12.7M−$3.4M—$1.5M−$9.6M$12.0M
Q2 2025$21.4M−$11.7M−$8.5M——−$5.2M$9.7M
Q1 2025$8.8M−$10.0M−$10.8M——−$2.6M−$1.2M
Q4 2024−$4.1M−$13.6M−$1K—$122K$25.1M−$17.7M

NPK International: income statement and cash flow

NPK International, Q3 2026: revenue $76.3M (+11% year over year), operating margin 12.0%. The chart follows the revenue to costs, profit and cash.

NPK 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.