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O'Reilly Automotive cash flow, quarter by quarter

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

Free cash flow$251M in Q3 2026 · $2.1B over twelve months

Operating cash flow$559M
Capital spending−$308M
Free cash flow+$251M
Cash / net income0.7×
Cash conversion cycle-44 days

Analysis

In Q3 2026, O'Reilly Automotive generated $559M of operating cash flow and spent $308M on capital projects, leaving free cash flow of $251M. That is $53.9M less than in Q3 2025 ($304M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.2B; the largest uses were buybacks ($4.0B), capital spending ($1.1B), other financing ($36.4M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.8B), shares issued ($64.9M); the cash balance fell by $10.1M.

Operating cash flow was $559M against net income of $786M — 0.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: other operating capital −$326M, inventory −$198M, depreciation & amortization +$140M.

Its cash conversion cycle was -44 days (receivables 8 + inventory 229 − payables 281): suppliers fund its working capital.

Free cash flow

O'Reilly Automotive: free cash flow by quarterO'Reilly Automotive: free cash flow by quarter$334MQ4 2024$468MQ1 2025$456MQ2 2025$304MQ3 2025$364MQ4 2025$788MQ1 2026$699MQ2 2026$251MQ3 2026
Operating cash flow less capital spending.
O'Reilly Automotive: operating cash flow against capital spendingO'Reilly Automotive: operating cash flow against capital spendingOperating cash flowCapital spending$624M$290MQ4 2024$755M$287MQ1 2025$757M$301MQ2 2025$617M$312MQ3 2025$633M$269MQ4 2025$1.0B$244MQ1 2026$1.0B$308MQ2 2026$559M$308MQ3 2026
Latest (Q3 2026): Operating cash flow $559M, Capital spending $308M.

Capital allocation, year by year

O'Reilly Automotive: where the cash came from (up) and went (down), by fiscal yearO'Reilly Automotive: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $3.2BFY2021: Net borrowing −$300MFY2021: Shares issued $84.9MFY2021: Asset sales $9.5MFY2021: Capital spending −$443MFY2021: Buybacks −$2.5B$3.3BFY2021FY2022: Operating cash flow $3.1BFY2022: Net borrowing $547MFY2022: Shares issued $79.4MFY2022: Asset sales $14.8MFY2022: Capital spending −$563MFY2022: Buybacks −$3.3B$3.8BFY2022FY2023: Operating cash flow $3.0BFY2023: Net borrowing $1.2BFY2023: Shares issued $91.3MFY2023: Asset sales $17.7MFY2023: Capital spending −$1.0BFY2023: Buybacks −$3.2B$4.3BFY2023FY2024: Operating cash flow $3.0BFY2024: Net borrowing −$78.7MFY2024: Shares issued $129MFY2024: Asset sales $16.4MFY2024: Capital spending −$1.0BFY2024: Buybacks −$2.1B$3.2BFY2024FY2025: Operating cash flow $2.8BFY2025: Net borrowing $489MFY2025: Shares issued $80.8MFY2025: Asset sales $30.8MFY2025: Capital spending −$1.2BFY2025: Buybacks −$2.1B$3.4BFY2025
Over these 5 years operating cash flow totalled $15.2B; the largest uses were buybacks ($13.1B) and capital spending ($4.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$194M
Debt$7.7B
Net debt$7.5B
Due within a year$1.9B

O'Reilly Automotive funds itself: free cash flow was $2.1B over the last twelve months, and $194M of cash and investments stands against $7.7B of debt ($1.9B due within a year, 0.1× covered by cash).

O'Reilly Automotive: debt maturities by year (FY2025)O'Reilly Automotive: debt maturities by year (FY2025)$1.9BYear 1$750MYear 2$500MYear 3$500MYear 4$500MYear 5$1.9BAfter year 5
Principal due in each year as disclosed in the annual report, against $194M of cash and investments now.

Where the cash came from and went

O'Reilly Automotive: sources (+) and uses (−) of cash, Q3 2026O'Reilly Automotive: sources (+) and uses (−) of cash, Q3 2026Buybacks−$1.0BNet borrowing (+) / repaid (−)$708MOperating cash flow$559MCapital spending−$308MCash drawn (+) / kept (−)$67.7MShares issued$14.6MOther financing−$10.6MOther investing$3.3MAsset & business sales$1.5MExchange rates−$244K
O'Reilly Automotive: sources (+) and uses (−) of cash, TTM to Q3 2026O'Reilly Automotive: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$4.0BOperating cash flow$3.2BNet borrowing (+) / repaid (−)$1.8BCapital spending−$1.1BShares issued$64.9MOther financing−$36.4MAsset & business sales$20.6MCash drawn (+) / kept (−)$10.1MExchange rates$583KOther investing−$146K

From profit to cash

O'Reilly Automotive: net income to operating cash flow, Q3 2026O'Reilly Automotive: net income to operating cash flow, Q3 2026Net income$786MDepreciation & amortization$140MStock-based pay$8.8MOther non-cash−$6.7MReceivables−$7.7MInventory−$198MPayables$125MIncome taxes payable$30.8MOther operating capital−$326MOperating cash flow$559M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20268229281-44
Q2 20268226280-46
Q1 20268235292-49
Q4 20258245306-53
Q3 20258224283-51
Q2 20258219277-50
Q1 20258229292-54
Q4 20249231297-58

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$559M−$308M−$1.0B$708M$14.6M$67.7M$251M
Q2 2026$1.0B−$308M−$1.5B$816M$21.2M−$9.5M$699M
Q1 2026$1.0B−$244M−$923M$183M$16.6M−$58.8M$788M
Q4 2025$633M−$269M−$500M$99.0M$12.5M$10.7M$364M
Q3 2025$617M−$312M−$420M$90.9M$20.1M−$5.9M$304M
Q2 2025$757M−$301M−$617M$170M$23.2M−$7.4M$456M
Q1 2025$755M−$287M−$559M$129M$24.9M−$61.0M$468M
Q4 2024$624M−$290M−$472M$159M$16.2M−$14.6M$334M

O'Reilly Automotive: income statement and cash flow

O'Reilly Automotive, Q3 2026: revenue $5.1B (+9% year over year), operating margin 21.4%. The chart follows the revenue to costs, profit and cash.

O'Reilly Automotive: 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.