Filing Flows

Filing Flows › Companies › Primoris Services › Cash flow

Primoris Services cash flow, quarter by quarter

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

Free cash flow$98.1M in Q3 2026 · $37.7M over twelve months

Operating cash flow$140M
Capital spending−$42.1M
Free cash flow+$98.1M
Cash / net income2.7×
Cash conversion cycle5 days

Analysis

In Q3 2026, Primoris Services generated $140M of operating cash flow and spent $42.1M on capital projects, leaving free cash flow of $98.1M. That is $50.3M less than in Q3 2025 ($148M).

Over the twelve months to Sep 30, 2026, operating cash flow was $152M; the largest uses were other investing ($396M), capital spending ($114M), net borrowing (+) / repaid (−) ($50.2M); besides operations, cash came from other financing ($194M), asset & business sales ($26.5M); the cash balance fell by $228M.

Operating cash flow was $140M against net income of $51.3M — 2.7× profit, cash ran ahead of reported earnings. The largest differences: receivables −$96.5M, contract assets +$56.9M, accrued liabilities +$35.3M.

Its cash conversion cycle was 5 days (receivables 42 + inventory 0 − payables 37).

Free cash flow

Primoris Services: free cash flow by quarterPrimoris Services: free cash flow by quarter$270MQ4 2024$25.6MQ1 2025$45.3MQ2 2025$148MQ3 2025$121MQ4 2025−$150MQ1 2026−$31.2MQ2 2026$98.1MQ3 2026
Operating cash flow less capital spending.
Primoris Services: operating cash flow against capital spendingPrimoris Services: operating cash flow against capital spendingOperating cash flowCapital spending$298M$28.2MQ4 2024$66.2M$40.6MQ1 2025$78.4M$33.1MQ2 2025$183M$34.5MQ3 2025$143M$21.7MQ4 2025−$123M$27.8MQ1 2026−$8.7M$22.5MQ2 2026$140M$42.1MQ3 2026
Latest (Q3 2026): Operating cash flow $140M, Capital spending $42.1M.

Capital allocation, year by year

Primoris Services: where the cash came from (up) and went (down), by fiscal yearPrimoris Services: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $79.7MFY2021: Net borrowing $348MFY2021: Shares issued $179MFY2021: Asset sales $49.5MFY2021: Capital spending −$134MFY2021: Acquisitions −$607MFY2021: Buybacks −$14.7MFY2021: Dividends −$12.6M$656MFY2021FY2022: Operating cash flow $83.3MFY2022: Net borrowing $483MFY2022: Shares issued $585KFY2022: Asset sales $41.3MFY2022: Capital spending −$94.7MFY2022: Acquisitions −$478MFY2022: Buybacks −$6.0MFY2022: Dividends −$12.8M$608MFY2022FY2023: Operating cash flow $198MFY2023: Net borrowing −$187MFY2023: Shares issued $681KFY2023: Asset sales $63.7MFY2023: Capital spending −$103MFY2023: Acquisitions $9.3MFY2023: Dividends −$12.8M$272MFY2023FY2024: Operating cash flow $508MFY2024: Net borrowing −$224MFY2024: Asset sales $99.3MFY2024: Capital spending −$126MFY2024: Dividends −$12.9M$608MFY2024FY2025: Operating cash flow $470MFY2025: Net borrowing −$329MFY2025: Asset sales $32.5MFY2025: Capital spending −$130MFY2025: Dividends −$17.3M$503MFY2025
Over these 5 years operating cash flow totalled $1.3B; the largest uses were acquisitions ($1.1B) and net borrowing ($741M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$204M
Debt$784M
Net debt$581M
Due within a year$60.9M

Primoris Services funds itself: free cash flow was $37.7M over the last twelve months, and $204M of cash and investments stands against $784M of debt ($60.9M due within a year, 3.3× covered by cash).

Primoris Services: debt maturities by year (FY2025)Primoris Services: debt maturities by year (FY2025)$60.9MYear 1$397MYear 2$7.7MYear 3$600KYear 4$100KYear 5$6.5MAfter year 5
Principal due in each year as disclosed in the annual report, against $204M of cash and investments now.

Where the cash came from and went

Primoris Services: sources (+) and uses (−) of cash, Q3 2026Primoris Services: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$140MBuybacks−$100MCapital spending−$42.1MCash drawn (+) / kept (−)$14.8MNet borrowing (+) / repaid (−)−$12.5MAsset & business sales$8.5MDividends−$4.3MAcquisitions−$3.3MTaxes on employees’ shares−$1.4MExchange rates$400KOther financing−$300K
Primoris Services: sources (+) and uses (−) of cash, TTM to Q3 2026Primoris Services: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$396MCash drawn (+) / kept (−)$228MOther financing$194MOperating cash flow$152MCapital spending−$114MNet borrowing (+) / repaid (−)−$50.2MAsset & business sales$26.5MTaxes on employees’ shares−$22.0MDividends−$17.4MExchange rates−$600K

From profit to cash

Primoris Services: net income to operating cash flow, Q3 2026Primoris Services: net income to operating cash flow, Q3 2026Net income$51.3MDepreciation & amortization$34.0MStock-based pay$4.7MGains on disposals−$5.5MReceivables−$96.5MPayables$29.0MAccrued liabilities$35.3MDeferred revenue−$3.0MContract assets$56.9MPrepaid and other assets$30.6MOther liabilities$1.9MOperating cash flow$140M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202642—375
Q2 202643—385
Q1 202643—44-1
Q4 202544—46-3
Q3 202544—422
Q2 202543—44-2
Q1 202543—430
Q4 202447—3314

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$140M−$42.1M−$3.3M−$100M−$4.3M−$12.5M—$14.8M$98.1M
Q2 2026−$8.7M−$22.5M——−$4.4M−$4.2M—$143M−$31.2M
Q1 2026−$123M−$27.8M——−$4.3M−$16.8M—$174M−$150M
Q4 2025$143M−$21.7M——−$4.4M−$16.7M—−$104M$121M
Q3 2025$183M−$34.5M——−$4.3M−$130M—−$41.1M$148M
Q2 2025$78.4M−$33.1M——−$4.3M−$59.4M—−$39.0M$45.3M
Q1 2025$66.2M−$40.6M——−$4.3M−$123M$783K$104M$25.6M
Q4 2024$298M−$28.2M——−$3.3M−$169M—−$103M$270M

Primoris Services: income statement and cash flow

Primoris Services, Q3 2026: revenue $2.0B (-10% year over year), operating margin 4.9%. The chart follows the revenue to costs, profit and cash.

Primoris Services: 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.