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United Parks & Resorts cash flow, quarter by quarter

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

Free cash flow$23.5M in Q3 2026 · $150M over twelve months

Operating cash flow$93.2M
Capital spending−$69.7M
Free cash flow+$23.5M
Cash / net income1.2×

Analysis

In Q3 2026, United Parks & Resorts generated $93.2M of operating cash flow and spent $69.7M on capital projects, leaving free cash flow of $23.5M. That is $14.5M less than in Q3 2025 ($38.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $408M; the largest uses were buybacks ($364M), capital spending ($258M), net borrowing (+) / repaid (−) ($15.4M); besides operations, cash came from other financing ($39.0M), shares issued ($331K); the cash balance fell by $195M.

Operating cash flow was $93.2M against net income of $80.0M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue −$61.9M, depreciation & amortization +$45.8M, receivables +$23.0M.

Free cash flow

United Parks & Resorts: free cash flow by quarterUnited Parks & Resorts: free cash flow by quarter$86.2MQ4 2024−$31.2MQ1 2025$128MQ2 2025$38.0MQ3 2025$28.1MQ4 2025−$2.8MQ1 2026$101MQ2 2026$23.5MQ3 2026
Operating cash flow less capital spending.
United Parks & Resorts: operating cash flow against capital spendingUnited Parks & Resorts: operating cash flow against capital spendingOperating cash flowCapital spending$112M$26.2MQ4 2024$25.7M$56.9MQ1 2025$181M$53.6MQ2 2025$94.8M$56.8MQ3 2025$78.4M$50.3MQ4 2025$66.8M$69.6MQ1 2026$170M$68.6MQ2 2026$93.2M$69.7MQ3 2026
Latest (Q3 2026): Operating cash flow $93.2M, Capital spending $69.7M.

Capital allocation, year by year

United Parks & Resorts: where the cash came from (up) and went (down), by fiscal yearUnited Parks & Resorts: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow $503MFY2021: Net borrowing −$111MFY2021: Shares issued $5.9MFY2021: Capital spending −$129MFY2021: Buybacks −$216M$509MFY2021FY2022: Operating cash flow $565MFY2022: Net borrowing −$12.5MFY2022: Shares issued $3.0MFY2022: Capital spending −$201MFY2022: Buybacks −$694M$568MFY2022FY2023: Operating cash flow $505MFY2023: Net borrowing −$12.9MFY2023: Shares issued $2.9MFY2023: Capital spending −$305MFY2023: Buybacks −$17.9M$508MFY2023FY2024: Operating cash flow $480MFY2024: Net borrowing $135MFY2024: Shares issued $1.8MFY2024: Capital spending −$248MFY2024: Buybacks −$483M$617MFY2024FY2025: Operating cash flow $380MFY2025: Net borrowing −$15.4MFY2025: Shares issued $1.1MFY2025: Capital spending −$217MFY2025: Buybacks −$160M$381MFY2025
Over these 5 years operating cash flow totalled $2.4B; the largest uses were buybacks ($1.6B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$26.3M
Debt$2.3B
Net debt$2.2B
Due within a year$15.4M

United Parks & Resorts funds itself: free cash flow was $150M over the last twelve months, and $26.3M of cash and investments stands against $2.3B of debt ($15.4M due within a year, 1.7× covered by cash).

United Parks & Resorts: debt maturities by year (FY2025)United Parks & Resorts: debt maturities by year (FY2025)$15.4MYear 1$15.4MYear 2$15.4MYear 3$740MYear 4$15.4MYear 5$1.4BAfter year 5
Principal due in each year as disclosed in the annual report, against $26.3M of cash and investments now.

Where the cash came from and went

United Parks & Resorts: sources (+) and uses (−) of cash, Q3 2026United Parks & Resorts: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$93.2MCapital spending−$69.7MNet borrowing (+) / repaid (−)−$13.9MCash drawn (+) / kept (−)−$7.2MTaxes on employees’ shares−$1.2MOther investing−$1.1MOther financing−$174KShares issued$33K
United Parks & Resorts: sources (+) and uses (−) of cash, TTM to Q3 2026United Parks & Resorts: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$408MBuybacks−$364MCapital spending−$258MCash drawn (+) / kept (−)$195MOther financing$39.0MNet borrowing (+) / repaid (−)−$15.4MTaxes on employees’ shares−$3.2MOther investing−$1.1MShares issued$331K

From profit to cash

United Parks & Resorts: net income to operating cash flow, Q3 2026United Parks & Resorts: net income to operating cash flow, Q3 2026Net income$80.0MDepreciation & amortization$45.8MStock-based pay$5.2MDeferred taxes$20.8MReceivables$23.0MInventory$2.0MAccrued liabilities$5.8MEmployee-related liabilities−$9.6MDeferred revenue−$61.9MPrepaid and other assets$5.7MOther operating capital$8.7MOperating cash flow$93.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$93.2M−$69.7M—−$13.9M$33K−$7.2M$23.5M
Q2 2026$170M−$68.6M−$126M$16.1M$11K$9.9M$101M
Q1 2026$66.8M−$69.6M−$93.8M$26.1M$286K$70.8M−$2.8M
Q4 2025$78.4M−$50.3M−$144M−$3.9M$1K$121M$28.1M
Q3 2025$94.8M−$56.8M−$7.1M−$3.9M$737K−$26.9M$38.0M
Q2 2025$181M−$53.6M−$4.6M−$3.9M$44K−$118M$128M
Q1 2025$25.7M−$56.9M−$4.6M−$3.9M$351K$40.2M−$31.2M
Q4 2024$112M−$26.2M−$37.7M−$4.9M$441K−$39.1M$86.2M

United Parks & Resorts: income statement and cash flow

United Parks & Resorts, Q3 2026: revenue $506M (-1% year over year), operating margin 27.8%. The chart follows the revenue to costs, profit and cash.

United Parks & Resorts: 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.