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Nwpx Infrastructure cash flow, quarter by quarter

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

Free cash flow$20.4M in Q3 2026 · $86.8M over twelve months

Operating cash flow$27.4M
Capital spending−$7.0M
Free cash flow+$20.4M
Cash / net income1.5×
Cash conversion cycle86 days

Analysis

In Q3 2026, Nwpx Infrastructure generated $27.4M of operating cash flow and spent $7.0M on capital projects, leaving free cash flow of $20.4M. That is $7.2M more than in Q3 2025 ($13.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $107M; the largest uses were other investing ($58.5M), capital spending ($19.9M), net borrowing (+) / repaid (−) ($14.3M); the cash balance rose by $3.4M.

Operating cash flow was $27.4M against net income of $18.2M — 1.5× profit, cash ran ahead of reported earnings. The largest differences: receivables −$11.4M, contract assets +$9.1M, inventory +$2.9M.

Its cash conversion cycle was 86 days (receivables 55 + inventory 59 − payables 28).

Free cash flow

Nwpx Infrastructure: free cash flow by quarterNwpx Infrastructure: free cash flow by quarter$31.9MQ4 2024$1.2MQ1 2025$1.9MQ2 2025$13.2MQ3 2025$30.8MQ4 2025$25.8MQ1 2026$9.9MQ2 2026$20.4MQ3 2026
Operating cash flow less capital spending.
Nwpx Infrastructure: operating cash flow against capital spendingNwpx Infrastructure: operating cash flow against capital spendingOperating cash flowCapital spending$36.1M$4.2MQ4 2024$4.8M$3.7MQ1 2025$5.4M$3.5MQ2 2025$21.0M$7.8MQ3 2025$36.0M$5.2MQ4 2025$29.3M$3.5MQ1 2026$14.1M$4.2MQ2 2026$27.4M$7.0MQ3 2026
Latest (Q3 2026): Operating cash flow $27.4M, Capital spending $7.0M.

Capital allocation, year by year

Nwpx Infrastructure: where the cash came from (up) and went (down), by fiscal yearNwpx Infrastructure: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$5.8MFY2021: Net borrowing $72.6MFY2021: Capital spending −$13.3MFY2021: Acquisitions −$87.2M$72.6MFY2021FY2022: Operating cash flow $17.5MFY2022: Net borrowing $7.1MFY2022: Capital spending −$22.8M$24.6MFY2022FY2023: Operating cash flow $53.5MFY2023: Net borrowing −$30.0MFY2023: Capital spending −$18.3MFY2023: Buybacks −$707K$53.5MFY2023FY2024: Operating cash flow $55.1MFY2024: Net borrowing −$27.5MFY2024: Capital spending −$20.8MFY2024: Buybacks −$4.4M$55.1MFY2024FY2025: Operating cash flow $67.3MFY2025: Net borrowing −$29.1MFY2025: Capital spending −$20.2MFY2025: Buybacks −$18.4M$67.3MFY2025
Over these 5 years operating cash flow totalled $188M; the largest uses were capital spending ($95.4M) and acquisitions ($87.2M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.1M
Debt$9.2M
Net debt$3.2M
Due within a year$3.0M

Nwpx Infrastructure funds itself: free cash flow was $86.8M over the last twelve months, and $6.1M of cash and investments stands against $9.2M of debt ($3.0M due within a year, 2.0× covered by cash).

Nwpx Infrastructure: debt maturities by year (FY2025)Nwpx Infrastructure: debt maturities by year (FY2025)$3.0MYear 1$3.0MYear 2$3.0MYear 3$2.5MYear 4
Principal due in each year as disclosed in the annual report, against $6.1M of cash and investments now.

Where the cash came from and went

Nwpx Infrastructure: sources (+) and uses (−) of cash, Q3 2026Nwpx Infrastructure: sources (+) and uses (−) of cash, Q3 2026Acquisitions−$49.7MOperating cash flow$27.4MNet borrowing (+) / repaid (−)$17.2MCash drawn (+) / kept (−)$13.3MCapital spending−$7.0MBuybacks−$1.2MOther investing$59K
Nwpx Infrastructure: sources (+) and uses (−) of cash, TTM to Q3 2026Nwpx Infrastructure: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$107MOther investing−$58.5MCapital spending−$19.9MNet borrowing (+) / repaid (−)−$14.3MBuybacks−$6.6MTaxes on employees’ shares−$4.1MCash drawn (+) / kept (−)−$3.4MOther financing−$26K

From profit to cash

Nwpx Infrastructure: net income to operating cash flow, Q3 2026Nwpx Infrastructure: net income to operating cash flow, Q3 2026Net income$18.2MStock-based pay$1.6MDeferred taxes−$426KOther non-cash$19KReceivables−$11.4MInventory$2.9MPayables−$2.8MAccrued liabilities$2.3MContract assets$9.1MPrepaid and other assets$1.2MOperating cash flow$27.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202655592886
Q2 202656592688
Q1 202657582095
Q4 2025656923110
Q3 202554582389
Q2 202547662390
Q1 202549752499
Q4 2024567823112

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$27.4M−$7.0M−$49.7M−$1.2M$17.2M$13.3M$20.4M
Q2 2026$14.1M−$4.2M—−$306K−$1.3M−$5.1M$9.9M
Q1 2026$29.3M−$3.5M−$8.9M−$2.4M−$1.7M−$12.0M$25.8M
Q4 2025$36.0M−$5.2M—−$2.6M−$28.6M$398K$30.8M
Q3 2025$21.0M−$7.8M—−$8.2M−$4.2M−$640K$13.2M
Q2 2025$5.4M−$3.5M—−$7.5M$3.9M$3.3M$1.9M
Q1 2025$4.8M−$3.7M——−$280K−$278K$1.2M
Q4 2024$36.1M−$4.2M——−$36.9M$716K$31.9M

Nwpx Infrastructure: income statement and cash flow

Nwpx Infrastructure, Q3 2026: revenue $179M (+19% year over year), operating margin 13.6%. The chart follows the revenue to costs, profit and cash.

Nwpx Infrastructure: 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.