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Parker-Hannifin cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$643M in Q1 FY27 · $3.9B over twelve months

Operating cash flow$752M
Capital spending−$109M
Free cash flow+$643M
Cash / net income0.9×
Cash conversion cycle72 days

Analysis

In Q1 FY27, Parker-Hannifin generated $752M of operating cash flow and spent $109M on capital projects, leaving free cash flow of $643M. That is $50.0M less than in Q1 FY26 ($693M).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.3B; the largest uses were acquisitions ($9.1B), dividends ($960M), buybacks ($858M); besides operations, cash came from net borrowing (+) / repaid (−) ($7.2B), asset & business sales ($56.0M); the cash balance rose by $238M.

Operating cash flow was $752M against net income of $884M — 0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$286M, inventory −$232M, other liabilities −$228M.

Its cash conversion cycle was 72 days (receivables 51 + inventory 84 − payables 63).

Free cash flow

Parker-Hannifin: free cash flow by quarterParker-Hannifin: free cash flow by quarter$814MQ2 FY25$542MQ3 FY25$1.3BQ4 FY25$693MQ1 FY26$768MQ2 FY26$881MQ3 FY26$1.6BQ4 FY26$643MQ1 FY27
Operating cash flow less capital spending.
Parker-Hannifin: operating cash flow against capital spendingParker-Hannifin: operating cash flow against capital spendingOperating cash flowCapital spending$935M$121MQ2 FY25$630M$88.0MQ3 FY25$1.5B$131MQ4 FY25$782M$89.0MQ1 FY26$862M$94.0MQ2 FY26$984M$103MQ3 FY26$1.7B$173MQ4 FY26$752M$109MQ1 FY27
Latest (Q1 FY27): Operating cash flow $752M, Capital spending $109M.

Capital allocation, year by year

Parker-Hannifin: where the cash came from (up) and went (down), by fiscal yearParker-Hannifin: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $2.4BFY22: Net borrowing $5.0BFY22: Shares issued $2.8MFY22: Asset sales $42.7MFY22: Capital spending −$230MFY22: Buybacks −$460MFY22: Dividends −$570M$7.5BFY22FY23: Operating cash flow $3.0BFY23: Net borrowing $35.0MFY23: Shares issued $3.0MFY23: Asset sales $486MFY23: Capital spending −$381MFY23: Acquisitions −$7.1BFY23: Buybacks −$297MFY23: Dividends −$704M$3.5BFY23FY24: Operating cash flow $3.4BFY24: Net borrowing −$2.0BFY24: Shares issued $4.0MFY24: Asset sales $86.7MFY24: Capital spending −$400MFY24: Buybacks −$332MFY24: Dividends −$782M$3.5BFY24FY25: Operating cash flow $3.8BFY25: Net borrowing −$1.4BFY25: Shares issued $4.0MFY25: Asset sales $655MFY25: Capital spending −$435MFY25: Buybacks −$1.8BFY25: Dividends −$861M$4.4BFY25FY26: Operating cash flow $4.4BFY26: Net borrowing −$736MFY26: Asset sales $56.0MFY26: Capital spending −$459MFY26: Acquisitions −$1.0BFY26: Buybacks −$1.3BFY26: Dividends −$936M$4.4BFY26
Over these 5 years operating cash flow totalled $16.9B; the largest uses were acquisitions ($8.2B) and buybacks ($4.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$711M
Debt$17.4B
Net debt$16.7B
Due within a year$706M

Parker-Hannifin funds itself: free cash flow was $3.9B over the last twelve months, and $711M of cash and investments stands against $17.4B of debt ($706M due within a year, 1.0× covered by cash).

Parker-Hannifin: debt maturities by year (FY26)Parker-Hannifin: debt maturities by year (FY26)$706MYear 1$1.2BYear 2$1.0BYear 3$1.8BYear 4$4.0MYear 5
Principal due in each year as disclosed in the annual report, against $711M of cash and investments now.

Where the cash came from and went

Parker-Hannifin: sources (+) and uses (−) of cash, Q1 FY27Parker-Hannifin: sources (+) and uses (−) of cash, Q1 FY27Acquisitions−$9.1BNet borrowing (+) / repaid (−)$9.0BOperating cash flow$752MDividends−$252MCash drawn (+) / kept (−)−$210MBuybacks−$118MCapital spending−$109MAsset & business sales$22.0MExchange rates$7.0MOther investing$3.0MOther financing$1.0M
Parker-Hannifin: sources (+) and uses (−) of cash, TTM to Q1 FY27Parker-Hannifin: sources (+) and uses (−) of cash, TTM to Q1 FY27Acquisitions−$9.1BNet borrowing (+) / repaid (−)$7.2BOperating cash flow$4.3BDividends−$960MBuybacks−$858MCapital spending−$479MCash drawn (+) / kept (−)−$238MAsset & business sales$56.0MOther investing$28.0MExchange rates$5.0MOther financing$2.0M

From profit to cash

Parker-Hannifin: net income to operating cash flow, Q1 FY27Parker-Hannifin: net income to operating cash flow, Q1 FY27Net income$884MDepreciation & amortization$286MStock-based pay$82.0MDeferred taxes$24.0MOther non-cash−$3.0MReceivables−$9.0MInventory−$232MPayables$81.0MOther liabilities−$228MIncome taxes payable−$58.0MOperating cash flow$752M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2751846372
Q4 FY2650826171
Q3 FY2649825674
Q2 FY2650886079
Q1 FY2652866276
Q4 FY2550785772
Q3 FY2548815475
Q2 FY2550865779

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$752M−$109M−$9.1B−$118M−$252M$9.0B—−$210M$643M
Q4 FY26$1.7B−$173M—−$255M−$253M−$1.1B—−$25.0M$1.6B
Q3 FY26$984M−$103M−$1.0M−$340M−$227M−$274M—−$49.0M$881M
Q2 FY26$862M−$94.0M—−$145M−$228M−$461M—$46.0M$768M
Q1 FY26$782M−$89.0M−$1.0B−$522M−$228M$1.1B—−$6.0M$693M
Q4 FY25$1.5B−$131M—−$906M−$231M−$160M$1.0M−$58.0M$1.3B
Q3 FY25$630M−$88.0M—−$668M−$210M$300M$339K−$13.0M$542M
Q2 FY25$935M−$121M—−$98.0M−$210M−$1.1B$939K−$25.0M$814M

Parker-Hannifin: income statement and cash flow

Parker-Hannifin, Q1 FY27: revenue $6.0B (+18% year over year), operating margin 23.5%. The chart follows the revenue to costs, profit and cash.

Parker-Hannifin: 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.