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Office Properties Income Trust cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$68.0M in Q1 2026 · −$72.4M over twelve months

Operating cash flow−$52.9M
Capital spending−$15.0M
Free cash flow−$68.0M

Analysis

In Q1 2026, Office Properties Income Trust generated −$52.9M of operating cash flow and spent $15.0M on capital projects, leaving free cash flow of −$68.0M. That is $28.2M less than in Q1 2025 (−$39.8M).

Over the twelve months to Mar 31, 2026, operating cash flow was −$30.9M; the largest uses were capital spending ($41.4M), operating cash flow ($30.9M), dividends ($709K); besides operations, cash came from other financing ($69.6M), asset & business sales ($13.6M); the cash balance rose by $11.0M.

Operating cash flow was −$52.9M against net income of −$93.0M. The largest differences: depreciation & amortization +$44.1M, payables −$1.1M, prepaid and other assets +$660K.

Free cash flow

Office Properties Income Trust: free cash flow by quarterOffice Properties Income Trust: free cash flow by quarter$14.9MQ2 2024−$53.1MQ3 2024−$4.6MQ4 2024−$39.8MQ1 2025$21.9MQ2 2025−$26.2MQ3 2025−$58KQ4 2025−$68.0MQ1 2026
Operating cash flow less capital spending.
Office Properties Income Trust: operating cash flow against capital spendingOffice Properties Income Trust: operating cash flow against capital spendingOperating cash flowCapital spending$31.9M$17.0MQ2 2024−$17.1M$36.1MQ3 2024$25.7M$30.3MQ4 2024−$28.6M$11.2MQ1 2025$32.4M$10.5MQ2 2025−$12.2M$14.0MQ3 2025$1.8M$1.9MQ4 2025−$52.9M$15.0MQ1 2026
Latest (Q1 2026): Operating cash flow −$52.9M, Capital spending $15.0M.

Capital allocation, year by year

Office Properties Income Trust: where the cash came from (up) and went (down), by fiscal yearOffice Properties Income Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $221MFY2021: Net borrowing $432MFY2021: Asset sales $220MFY2021: Capital spending −$100MFY2021: Buybacks −$1.0MFY2021: Dividends −$106M$873MFY2021FY2022: Operating cash flow $193MFY2022: Net borrowing −$153MFY2022: Asset sales $203MFY2022: Capital spending −$204MFY2022: Buybacks −$540KFY2022: Dividends −$107M$396MFY2022FY2023: Operating cash flow $142MFY2023: Net borrowing $10.0MFY2023: Asset sales $42.2MFY2023: Capital spending −$229MFY2023: Buybacks −$294KFY2023: Dividends −$63.2M$194MFY2023FY2024: Operating cash flow $67.2MFY2024: Net borrowing $109MFY2024: Asset sales $190MFY2024: Capital spending −$123MFY2024: Buybacks −$192KFY2024: Dividends −$2.0M$366MFY2024FY2025: Operating cash flow −$6.6MFY2025: Net borrowing −$172MFY2025: Shares issued $1.1MFY2025: Asset sales $39.8MFY2025: Capital spending −$37.6MFY2025: Buybacks −$32KFY2025: Dividends −$1.4M$40.9MFY2025
Over these 5 years operating cash flow totalled $616M; the largest uses were capital spending ($694M) and net borrowing ($324M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$26.3M
Debt$2.4B
Net debt$2.4B
Due within a year$144M
Cash runway4 months

Office Properties Income Trust is burning cash: its operations consume cash, a free cash flow of −$72.4M a year at the current rate against $26.3M of cash and investments: a runway of about 4 months; $144M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Office Properties Income Trust: debt maturities by year (FY2025)Office Properties Income Trust: debt maturities by year (FY2025)$144MYear 1$921MYear 2$123MYear 3$910MYear 4$14.7MYear 5$318MAfter year 5
Principal due in each year as disclosed in the annual report, against $26.3M of cash and investments now.

Where the cash came from and went

Office Properties Income Trust: sources (+) and uses (−) of cash, Q1 2026Office Properties Income Trust: sources (+) and uses (−) of cash, Q1 2026Other financing$75.0MOperating cash flow−$52.9MCapital spending−$15.0MCash drawn (+) / kept (−)−$7.0M
Office Properties Income Trust: sources (+) and uses (−) of cash, TTM to Q1 2026Office Properties Income Trust: sources (+) and uses (−) of cash, TTM to Q1 2026Other financing$69.6MCapital spending−$41.4MOperating cash flow−$30.9MAsset & business sales$13.6MCash drawn (+) / kept (−)−$11.0MShares issued$961KDividends−$709K

From profit to cash

Office Properties Income Trust: net income to operating cash flow, Q1 2026Office Properties Income Trust: net income to operating cash flow, Q1 2026Net income−$93.0MDepreciation & amortization$44.1MOther non-cash$2KPayables−$1.1MPrepaid and other assets$660KOperating cash flow−$52.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 2026−$52.9M−$15.0M————−$7.0M−$68.0M
Q4 2025$1.8M−$1.9M————−$21.5M−$58K
Q3 2025−$12.2M−$14.0M−$27K—−$8.5M—$32.8M−$26.2M
Q2 2025$32.4M−$10.5M−$5K−$709K−$6.5M$961K−$15.3M$21.9M
Q1 2025−$28.6M−$11.2M—−$698K−$184M$145K$199M−$39.8M
Q4 2024$25.7M−$30.3M−$1K−$556K$183M—−$239M−$4.6M
Q3 2024−$17.1M−$36.1M−$170K−$502K$22.0M—−$1.9M−$53.1M
Q2 2024$31.9M−$17.0M−$15K−$488K−$12.2M—$9.7M$14.9M

Office Properties Income Trust: income statement and cash flow

Office Properties Income Trust, Q1 2026: revenue $109M (-4% year over year), operating margin 7.4%. The chart follows the revenue to costs, profit and cash.

Office Properties Income Trust: 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.