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Piedmont Realty Trust cash flow, quarter by quarter

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

Free cash flow$24.4M in Q3 2026 · $168M over twelve months

Operating cash flow$24.4M
Free cash flow+$24.4M

Analysis

In Q3 2026, Piedmont Realty Trust generated $24.4M of operating cash flow. That is $11.4M less than in Q3 2025 ($35.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $168M; the largest uses were other investing ($259M), other financing ($60.4M), taxes on employees’ shares ($3.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($141M), asset & business sales ($11.8M); the cash balance fell by $1.7M.

Operating cash flow was $24.4M against net income of −$21.0M. The largest differences: depreciation & amortization +$61.1M, payables −$18.2M, deferred revenue −$6.3M.

Free cash flow

Piedmont Realty Trust: free cash flow by quarterPiedmont Realty Trust: free cash flow by quarter$65.0MQ4 2024$3.7MQ1 2025$50.1MQ2 2025$35.8MQ3 2025$50.9MQ4 2025$28.1MQ1 2026$64.3MQ2 2026$24.4MQ3 2026
Operating cash flow less capital spending.
Piedmont Realty Trust: operating cash flow against capital spendingPiedmont Realty Trust: operating cash flow against capital spendingOperating cash flowCapital spending$65.0M$0Q4 2024$3.7M$0Q1 2025$50.1M$0Q2 2025$35.8M$0Q3 2025$50.9M$0Q4 2025$28.1M$0Q1 2026$64.3M$0Q2 2026$24.4M$0Q3 2026
Latest (Q3 2026): Operating cash flow $24.4M, Capital spending $0.

Capital allocation, year by year

Piedmont Realty Trust: where the cash came from (up) and went (down), by fiscal yearPiedmont Realty Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesBuybacksDividendsFY2021: Operating cash flow $242MFY2021: Net borrowing $254MFY2021: Buybacks −$19.5MFY2021: Dividends −$104M$496MFY2021FY2022: Operating cash flow $215MFY2022: Net borrowing −$93.6MFY2022: Asset sales $297MFY2022: Dividends −$104M$513MFY2022FY2023: Operating cash flow $210MFY2023: Net borrowing $67.7MFY2023: Asset sales $1.9MFY2023: Dividends −$93.1M$280MFY2023FY2024: Operating cash flow $198MFY2024: Net borrowing $164MFY2024: Asset sales $74.9MFY2024: Dividends −$61.9M$437MFY2024FY2025: Operating cash flow $141MFY2025: Net borrowing −$4.3MFY2025: Asset sales $31.4MFY2025: Dividends −$30.9M$172MFY2025
Over these 5 years operating cash flow totalled $1.0B; the largest uses were dividends ($394M) and net borrowing ($97.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.9M
Debt$2.3B
Net debt$2.3B
Due within a year$3.4M

Piedmont Realty Trust funds itself: free cash flow was $168M over the last twelve months, and $3.9M of cash and investments stands against $2.3B of debt ($3.4M due within a year, 1.1× covered by cash).

Piedmont Realty Trust: debt maturities by year (FY2025)Piedmont Realty Trust: debt maturities by year (FY2025)$3.4MYear 1$329MYear 2$516MYear 3$400MYear 4$300MYear 5$700MAfter year 5
Principal due in each year as disclosed in the annual report, against $3.9M of cash and investments now.

Where the cash came from and went

Piedmont Realty Trust: sources (+) and uses (−) of cash, Q3 2026Piedmont Realty Trust: sources (+) and uses (−) of cash, Q3 2026Other investing−$110MNet borrowing (+) / repaid (−)$88.0MOther financing−$29.9MOperating cash flow$24.4MCash drawn (+) / kept (−)$15.3MAsset & business sales$11.8MDividends−$6K
Piedmont Realty Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Piedmont Realty Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$259MOperating cash flow$168MNet borrowing (+) / repaid (−)$141MOther financing−$60.4MAsset & business sales$11.8MTaxes on employees’ shares−$3.0MCash drawn (+) / kept (−)$1.7MDividends−$156K

From profit to cash

Piedmont Realty Trust: net income to operating cash flow, Q3 2026Piedmont Realty Trust: net income to operating cash flow, Q3 2026Net income−$21.0MDepreciation & amortization$61.1MStock-based pay$2.5MReceivables−$6.3MPayables−$18.2MDeferred revenue−$6.3MPrepaid and other assets−$712KOperating cash flow$24.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$24.4M−$6K$88.0M$15.3M$24.4M
Q2 2026$64.3M−$6K−$2.9M−$15.4M$64.3M
Q1 2026$28.1M−$131K$26.1M−$2.5M$28.1M
Q4 2025$50.9M−$13K—$4.3M$50.9M
Q3 2025$35.8M−$7K$14.1M−$320K$35.8M
Q2 2025$50.1M−$14K−$10.4M−$1.2M$50.1M
Q1 2025$3.7M−$30.8M−$37.8M$107M$3.7M
Q4 2024$65.0M−$216K−$877K$23.1M$65.0M

Piedmont Realty Trust: income statement and cash flow

Piedmont Realty Trust, Q3 2026: revenue $151M (+9% year over year), operating margin 14.5%. The chart follows the revenue to costs, profit and cash.

Piedmont Realty 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.