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Orion Group Holdings cash flow, quarter by quarter

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

Free cash flow−$6.0M in Q3 2026 · −$38.4M over twelve months

Operating cash flow$2.0M
Capital spending−$8.0M
Free cash flow−$6.0M
Cash / net income0.4×

Analysis

In Q3 2026, Orion Group Holdings generated $2.0M of operating cash flow and spent $8.0M on capital projects, leaving free cash flow of −$6.0M. That is $19.9M less than in Q3 2025 ($13.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.1M; the largest uses were other investing ($42.9M), capital spending ($41.5M); besides operations, cash came from other financing ($38.1M), asset & business sales ($24.2M); the cash balance rose by $754K.

Operating cash flow was $2.0M against net income of $5.5M — 0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$22.7M, payables +$16.1M, contract assets −$8.3M.

Free cash flow

Orion Group Holdings: free cash flow by quarterOrion Group Holdings: free cash flow by quarter$9.9MQ4 2024−$12.5MQ1 2025−$12.7MQ2 2025$13.9MQ3 2025$454KQ4 2025−$3.6MQ1 2026−$29.2MQ2 2026−$6.0MQ3 2026
Operating cash flow less capital spending.
Orion Group Holdings: operating cash flow against capital spendingOrion Group Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$13.4M$3.4MQ4 2024−$3.4M$9.0MQ1 2025−$5.6M$7.1MQ2 2025$23.3M$9.3MQ3 2025$13.8M$13.4MQ4 2025$4.9M$8.6MQ1 2026−$17.6M$11.5MQ2 2026$2.0M$8.0MQ3 2026
Latest (Q3 2026): Operating cash flow $2.0M, Capital spending $8.0M.

Capital allocation, year by year

Orion Group Holdings: where the cash came from (up) and went (down), by fiscal yearOrion Group Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $69KFY2021: Net borrowing $845KFY2021: Shares issued $110KFY2021: Asset sales $27.2MFY2021: Capital spending −$17.0M$28.2MFY2021FY2022: Operating cash flow $9.6MFY2022: Net borrowing −$7.3MFY2022: Asset sales $4.9MFY2022: Capital spending −$14.6M$14.4MFY2022FY2023: Operating cash flow $17.2MFY2023: Net borrowing −$107MFY2023: Asset sales $11.1MFY2023: Capital spending −$8.9M$28.3MFY2023FY2024: Operating cash flow $12.7MFY2024: Net borrowing −$24.4MFY2024: Shares issued $27.3MFY2024: Asset sales $2.6MFY2024: Capital spending −$14.1M$42.6MFY2024FY2025: Operating cash flow $28.1MFY2025: Net borrowing −$33.4MFY2025: Asset sales $25.2MFY2025: Capital spending −$38.9M$53.2MFY2025
Over these 5 years operating cash flow totalled $67.6M; the largest uses were net borrowing ($172M) and capital spending ($93.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.7M
Debt$109M
Net debt$103M
Due within a year$9.4M

Orion Group Holdings's operations bring cash in ($3.1M over twelve months), and it spends more than that on capital projects: a gap of $38.4M funded from its $5.7M of cash and investments and from borrowing ($109M of debt, $9.4M due within a year). That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Orion Group Holdings: sources (+) and uses (−) of cash, Q3 2026Orion Group Holdings: sources (+) and uses (−) of cash, Q3 2026Capital spending−$8.0MNet borrowing (+) / repaid (−)$3.8MOther financing$3.6MOperating cash flow$2.0MCash drawn (+) / kept (−)−$1.4MAsset & business sales$84K
Orion Group Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Orion Group Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$42.9MCapital spending−$41.5MOther financing$38.1MAsset & business sales$24.2MNet borrowing (+) / repaid (−)$19.7MOperating cash flow$3.1MCash drawn (+) / kept (−)−$754K

From profit to cash

Orion Group Holdings: net income to operating cash flow, Q3 2026Orion Group Holdings: net income to operating cash flow, Q3 2026Net income$5.5MDepreciation & amortization$5.5MStock-based pay$2.1MDeferred taxes$110KGains on disposals−$108KReceivables−$22.7MInventory$124KPayables$16.1MAccrued liabilities$150KDeferred revenue$1.7MContract assets−$8.3MPrepaid and other assets−$312KOperating cash flow$2.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$2.0M−$8.0M—$3.8M—−$1.4M−$6.0M
Q2 2026−$17.6M−$11.5M$1.1M$23.0M—$3.7M−$29.2M
Q1 2026$4.9M−$8.6M−$44.0M$53.0M—−$4.7M−$3.6M
Q4 2025$13.8M−$13.4M—−$2.2M—$1.6M$454K
Q3 2025$23.3M−$9.3M—−$12.6M—−$3.2M$13.9M
Q2 2025−$5.6M−$7.1M———$11.2M−$12.7M
Q1 2025−$3.4M−$9.0M—−$3.1M$445K$15.4M−$12.5M
Q4 2024$13.4M−$3.4M—−$7.6M−$256K−$62K$9.9M

Orion Group Holdings: income statement and cash flow

Orion Group Holdings, Q3 2026: revenue $256M (+14% year over year), operating margin 3.3%. The chart follows the revenue to costs, profit and cash.

Orion Group Holdings: 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.