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Pennant Group cash flow, quarter by quarter

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

Free cash flow$10.1M in Q3 2026 · $34.4M over twelve months

Operating cash flow$25.1M
Capital spending−$15.0M
Free cash flow+$10.1M
Cash / net income2.3×
Cash conversion cycle30 days

Analysis

In Q3 2026, Pennant Group generated $25.1M of operating cash flow and spent $15.0M on capital projects, leaving free cash flow of $10.1M. That is $334K less than in Q3 2025 ($10.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $64.5M; the largest uses were acquisitions ($151M), other investing ($40.2M), capital spending ($30.2M); besides operations, cash came from other financing ($90.3M), net borrowing (+) / repaid (−) ($77.0M); the cash balance rose by $16.1M.

Operating cash flow was $25.1M against net income of $11.1M — 2.3× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$8.1M, employee-related liabilities −$4.8M, depreciation & amortization +$3.7M.

Its cash conversion cycle was 30 days (receivables 40 + inventory 0 − payables 10).

Free cash flow

Pennant Group: free cash flow by quarterPennant Group: free cash flow by quarter$17.2MQ4 2024−$23.2MQ1 2025$31.6MQ2 2025$10.5MQ3 2025$17.4MQ4 2025−$8.7MQ1 2026$15.5MQ2 2026$10.1MQ3 2026
Operating cash flow less capital spending.
Pennant Group: operating cash flow against capital spendingPennant Group: operating cash flow against capital spendingOperating cash flowCapital spending$20.6M$3.3MQ4 2024−$21.2M$2.0MQ1 2025$34.6M$3.1MQ2 2025$13.9M$3.5MQ3 2025$21.0M$3.6MQ4 2025−$3.4M$5.3MQ1 2026$21.8M$6.3MQ2 2026$25.1M$15.0MQ3 2026
Latest (Q3 2026): Operating cash flow $25.1M, Capital spending $15.0M.

Capital allocation, year by year

Pennant Group: where the cash came from (up) and went (down), by fiscal yearPennant Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$18.2MFY2021: Net borrowing $44.0MFY2021: Shares issued $884KFY2021: Capital spending −$6.3MFY2021: Acquisitions −$13.6M$44.9MFY2021FY2022: Operating cash flow $9.0MFY2022: Net borrowing $11.0MFY2022: Shares issued $1.1MFY2022: Capital spending −$14.2MFY2022: Acquisitions −$10.1M$21.1MFY2022FY2023: Operating cash flow $33.1MFY2023: Net borrowing $500KFY2023: Shares issued $579KFY2023: Capital spending −$8.1MFY2023: Acquisitions −$21.4M$34.2MFY2023FY2024: Operating cash flow $39.3MFY2024: Net borrowing −$65.0MFY2024: Shares issued $853KFY2024: Capital spending −$9.0MFY2024: Acquisitions −$48.4M$40.2MFY2024FY2025: Operating cash flow $48.3MFY2025: Net borrowing $175MFY2025: Shares issued $552KFY2025: Capital spending −$12.0MFY2025: Acquisitions −$204M$224MFY2025
Over these 5 years operating cash flow totalled $112M; the largest uses were acquisitions ($297M) and net borrowing ($65.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$18.4M
Debt$193M
Net debt$175M
Due within a year$5.0M

Pennant Group funds itself: free cash flow was $34.4M over the last twelve months, and $18.4M of cash and investments stands against $193M of debt ($5.0M due within a year, 3.7× covered by cash).

Where the cash came from and went

Pennant Group: sources (+) and uses (−) of cash, Q3 2026Pennant Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$25.1MCapital spending−$15.0MOther investing−$6.3MShares issued$3.7MCash drawn (+) / kept (−)−$3.1MAcquisitions−$1.8MOther financing−$1.3MNet borrowing (+) / repaid (−)−$1.2M
Pennant Group: sources (+) and uses (−) of cash, TTM to Q3 2026Pennant Group: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$151MOther financing$90.3MNet borrowing (+) / repaid (−)$77.0MOperating cash flow$64.5MOther investing−$40.2MCapital spending−$30.2MCash drawn (+) / kept (−)−$16.1MShares issued$5.7M

From profit to cash

Pennant Group: net income to operating cash flow, Q3 2026Pennant Group: net income to operating cash flow, Q3 2026Net income$11.1MDepreciation & amortization$3.7MStock-based pay$3.3MDeferred taxes$1.3MGains on disposals−$504KReceivables$1.9MPayables$2.1MAccrued liabilities−$424KEmployee-related liabilities−$4.8MPrepaid and other assets$8.1MOther liabilities−$52KOperating cash flow$25.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202640—1030
Q2 202639—930
Q1 202639—930
Q4 202535—926
Q3 202539—1028
Q2 202540—1030
Q1 202538—1028
Q4 202440—1030

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$25.1M−$15.0M−$1.8M−$1.2M$3.7M−$3.1M$10.1M
Q2 2026$21.8M−$6.3M−$2.1M$27.8M$1.2M−$10.4M$15.5M
Q1 2026−$3.4M−$5.3M—−$4.2M$1.3M$12.1M−$8.7M
Q4 2025$21.0M−$3.6M−$147M$49.0M−$357K−$14.7M$17.4M
Q3 2025$13.9M−$3.5M−$9.2M−$11.0M$79K$12.0M$10.5M
Q2 2025$34.6M−$3.1M—−$15.5M$438K−$9.2M$31.6M
Q1 2025−$21.2M−$2.0M−$47.6M$52.5M$392K$19.0M−$23.2M
Q4 2024$20.6M−$3.3M—−$113M−$1.2M−$19.8M$17.2M

Pennant Group: income statement and cash flow

Pennant Group, Q3 2026: revenue $302M (+32% year over year), operating margin 5.5%. The chart follows the revenue to costs, profit and cash.

Pennant Group: 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.