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Nextpower cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$135M in Q2 FY27 · $512M over twelve months

Operating cash flow$158M
Capital spending−$23.1M
Free cash flow+$135M
Cash / net income1.0×
Cash conversion cycle3 days

Analysis

In Q2 FY27, Nextpower generated $158M of operating cash flow and spent $23.1M on capital projects, leaving free cash flow of $135M.

Over the twelve months to Oct 2, 2026, operating cash flow was $574M; the largest uses were buybacks ($162M), acquisitions ($141M), capital spending ($61.6M); the cash balance rose by $185M.

Operating cash flow was $158M against net income of $165M — 1.0× profit, roughly in line with earnings. The largest differences: stock-based pay +$29.9M, depreciation & amortization +$14.9M.

Its cash conversion cycle was 3 days (receivables 42 + inventory 31 − payables 70).

Free cash flow

Nextpower: free cash flow by quarterNextpower: free cash flow by quarter$135MQ3 FY25$227MQ4 FY25$70.1MQ1 FY26$171MQ2 FY26$119MQ3 FY26$154MQ4 FY26$105MQ1 FY27$135MQ2 FY27
Operating cash flow less capital spending.
Nextpower: operating cash flow against capital spendingNextpower: operating cash flow against capital spendingOperating cash flowCapital spending$144M$8.9MQ3 FY25$237M$10.1MQ4 FY25$81.3M$11.3MQ1 FY26$187M$15.5MQ2 FY26$123M$4.7MQ3 FY26$171M$17.8MQ4 FY26$121M$15.9MQ1 FY27$158M$23.1MQ2 FY27
Latest (Q2 FY27): Operating cash flow $158M, Capital spending $23.1M.

Capital allocation, year by year

Nextpower: where the cash came from (up) and went (down), by fiscal yearNextpower: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY22: Operating cash flow −$147MFY22: Asset sales $167KFY22: Capital spending −$5.9M$167KFY22FY23: Operating cash flow $108MFY23: Shares issued $694MFY23: Asset sales $24KFY23: Capital spending −$3.2MFY23: Buybacks −$694M$801MFY23FY24: Operating cash flow $429MFY24: Shares issued $552MFY24: Capital spending −$6.2M$981MFY24FY25: Operating cash flow $656MFY25: Net borrowing −$150MFY25: Capital spending −$33.9MFY25: Acquisitions −$145M$656MFY25FY26: Operating cash flow $563MFY26: Capital spending −$49.3MFY26: Acquisitions −$117MFY26: Buybacks −$395K$563MFY26
Over these 5 years operating cash flow totalled $1.6B; the largest uses were buybacks ($694M) and acquisitions ($262M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.0B
Debtnone
Net cash$1.0B

Nextpower funds itself: free cash flow was $512M over the last twelve months, with $1.0B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Nextpower: sources (+) and uses (−) of cash, Q2 FY27Nextpower: sources (+) and uses (−) of cash, Q2 FY27Other financing−$191MCash drawn (+) / kept (−)$184MOperating cash flow$158MAcquisitions−$132MCapital spending−$23.1MShares issued$6.8MOther investing−$2.0M
Nextpower: sources (+) and uses (−) of cash, TTM to Q2 FY27Nextpower: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$574MCash drawn (+) / kept (−)−$185MBuybacks−$162MAcquisitions−$141MCapital spending−$61.6MOther investing−$21.0MOther financing−$3.0M

From profit to cash

Nextpower: net income to operating cash flow, Q2 FY27Nextpower: net income to operating cash flow, Q2 FY27Net income$165MDepreciation & amortization$14.9MStock-based pay$29.9MOperating cash flow$158M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY274231703
Q1 FY274341841
Q4 FY264441842
Q3 FY265338865
Q2 FY265533844
Q1 FY26523388-3
Q4 FY254531706
Q3 FY2557438515

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$158M−$23.1M−$132M—$6.8M$184M$135M
Q1 FY27$121M−$15.9M——$26.0M−$119M$105M
Q4 FY26$171M−$17.8M$7.0M——−$142M$154M
Q3 FY26$123M−$4.7M−$15.8M——−$107M$119M
Q2 FY26$187M−$15.5M−$21.9M——−$102M$171M
Q1 FY26$81.3M−$11.3M−$86.4M——$22.7M$70.1M
Q4 FY25$237M−$10.1M—−$147M—−$72.6M$227M
Q3 FY25$144M−$8.9M—−$938K—−$132M$135M

Nextpower: income statement and cash flow

Nextpower, Q2 FY27: revenue $1.1B (+22% year over year), operating margin 18.7%. The chart follows the revenue to costs, profit and cash.

Nextpower: 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.