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Patrick Industries cash flow, quarter by quarter

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

Free cash flow$58.4M in Q3 2026 · $203M over twelve months

Operating cash flow$77.6M
Capital spending−$19.3M
Free cash flow+$58.4M
Cash / net income3.7×
Cash conversion cycle80 days

Analysis

In Q3 2026, Patrick Industries generated $77.6M of operating cash flow and spent $19.3M on capital projects, leaving free cash flow of $58.4M.

Over the twelve months to Sep 27, 2026, operating cash flow was $277M; the largest uses were buybacks ($106M), acquisitions ($74.5M), capital spending ($74.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($49.8M), asset & business sales ($2.2M); the cash balance fell by $4.7M.

Operating cash flow was $77.6M against net income of $21.1M — 3.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$42.6M, payables +$19.4M, inventory −$15.2M.

Its cash conversion cycle was 80 days (receivables 26 + inventory 81 − payables 27).

Free cash flow

Patrick Industries: free cash flow by quarterPatrick Industries: free cash flow by quarter$77.2MQ4 2024$19.9MQ1 2025$131MQ2 2025−$17.2MQ3 2025$113MQ4 2025−$32.9MQ1 2026$65.3MQ2 2026$58.4MQ3 2026
Operating cash flow less capital spending.
Patrick Industries: operating cash flow against capital spendingPatrick Industries: operating cash flow against capital spendingOperating cash flowCapital spending$103M$25.4MQ4 2024$40.1M$20.2MQ1 2025$149M$18.3MQ2 2025$9.1M$26.3MQ3 2025$131M$18.2MQ4 2025−$14.0M$18.9MQ1 2026$82.9M$17.6MQ2 2026$77.6M$19.3MQ3 2026
Latest (Q3 2026): Operating cash flow $77.6M, Capital spending $19.3M.

Capital allocation, year by year

Patrick Industries: where the cash came from (up) and went (down), by fiscal yearPatrick Industries: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $252MFY2021: Net borrowing $203MFY2021: Shares issued $5.0MFY2021: Asset sales $197KFY2021: Capital spending −$64.8MFY2021: Acquisitions −$508MFY2021: Buybacks −$48.9MFY2021: Dividends −$27.0M$460MFY2021FY2022: Operating cash flow $412MFY2022: Net borrowing −$62.2MFY2022: Shares issued $195KFY2022: Asset sales $7.6MFY2022: Capital spending −$79.9MFY2022: Acquisitions −$249MFY2022: Buybacks −$77.1MFY2022: Dividends −$32.9M$420MFY2022FY2023: Operating cash flow $409MFY2023: Net borrowing −$87.8MFY2023: Shares issued $1.4MFY2023: Asset sales $1.4MFY2023: Capital spending −$59.0MFY2023: Acquisitions −$25.9MFY2023: Buybacks −$18.8MFY2023: Dividends −$42.1M$411MFY2023FY2024: Operating cash flow $327MFY2024: Net borrowing $469MFY2024: Shares issued $21KFY2024: Asset sales $2.4MFY2024: Capital spending −$75.7MFY2024: Acquisitions −$412MFY2024: Buybacks −$4.7MFY2024: Dividends −$50.2M$798MFY2024FY2025: Operating cash flow $329MFY2025: Net borrowing −$31.8MFY2025: Asset sales $2.8MFY2025: Capital spending −$82.9MFY2025: Acquisitions −$122MFY2025: Buybacks −$32.0MFY2025: Dividends −$55.3M$332MFY2025
Over these 5 years operating cash flow totalled $1.7B; the largest uses were acquisitions ($1.3B) and capital spending ($362M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$16.0M
Debt$1.3B
Net debt$1.3B
Due within a year$6.2M

Patrick Industries funds itself: free cash flow was $203M over the last twelve months, and $16.0M of cash and investments stands against $1.3B of debt ($6.2M due within a year, 2.6× covered by cash).

Patrick Industries: debt maturities by year (FY2025)Patrick Industries: debt maturities by year (FY2025)$6.2MYear 1$6.2MYear 2$265MYear 3$523MYear 4$500MAfter year 5
Principal due in each year as disclosed in the annual report, against $16.0M of cash and investments now.

Where the cash came from and went

Patrick Industries: sources (+) and uses (−) of cash, Q3 2026Patrick Industries: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$77.6MNet borrowing (+) / repaid (−)−$40.6MCapital spending−$19.3MAcquisitions−$15.8MDividends−$14.9MCash drawn (+) / kept (−)$13.1MOther financing−$108KOther investing−$62KTaxes on employees’ shares−$60K
Patrick Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Patrick Industries: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$277MBuybacks−$106MAcquisitions−$74.5MCapital spending−$74.0MDividends−$61.4MNet borrowing (+) / repaid (−)$49.8MTaxes on employees’ shares−$13.3MCash drawn (+) / kept (−)$4.7MOther investing−$2.6MAsset & business sales$2.2MOther financing−$2.0M

From profit to cash

Patrick Industries: net income to operating cash flow, Q3 2026Patrick Industries: net income to operating cash flow, Q3 2026Net income$21.1MDepreciation & amortization$42.6MStock-based pay$5.9MGains on disposals$661KOther non-cash$1.2MReceivables−$8.3MInventory−$15.2MPayables$19.4MPrepaid and other assets$15.0MOperating cash flow$77.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202626812780
Q2 202625732573
Q1 202621702367
Q4 202524792775
Q3 202526703165
Q2 202524632959
Q1 202521632461
Q4 202424772775

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$77.6M−$19.3M−$15.8M—−$14.9M−$40.6M$13.1M$58.4M
Q2 2026$82.9M−$17.6M−$79K−$91.4M−$14.9M$35.0M$8.3M$65.3M
Q1 2026−$14.0M−$18.9M−$7.2M−$14.7M−$16.3M$95.0M−$11.0M−$32.9M
Q4 2025$131M−$18.2M−$51.4M—−$15.3M−$38.1M−$5.7M$113M
Q3 2025$9.1M−$26.3M−$22.2M—−$13.0M$53.4M$1.3M−$17.2M
Q2 2025$149M−$18.3M−$581K−$23.5M−$13.1M−$157M$64.6M$131M
Q1 2025$40.1M−$20.2M−$47.6M−$8.5M−$13.9M$110M−$53.0M$19.9M
Q4 2024$103M−$25.4M−$181K−$4.7M−$13.1M−$392M$19.0M$77.2M

Patrick Industries: income statement and cash flow

Patrick Industries, Q3 2026: revenue $975M (0% year over year), operating margin 5.1%. The chart follows the revenue to costs, profit and cash.

Patrick Industries: 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.