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Pricesmart cash flow, quarter by quarter

Latest: Q4 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$48.3M in Q4 FY26

Operating cash flow$116M
Capital spending−$67.3M
Free cash flow+$48.3M
Cash / net income3.1×
Cash conversion cycle6 days

Analysis

In Q4 FY26, Pricesmart generated $116M of operating cash flow and spent $67.3M on capital projects, leaving free cash flow of $48.3M. That is $22.7M more than in Q4 FY25 ($25.6M).

Operating cash flow was $116M against net income of $37.6M — 3.1× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$46.0M, depreciation & amortization +$26.5M, stock-based pay +$7.2M.

Its cash conversion cycle was 6 days (receivables 1 + inventory 46 − payables 41).

Free cash flow

Pricesmart: free cash flow by quarterPricesmart: free cash flow by quarter$10.3MQ1 FY25$53.2MQ2 FY25$14.0MQ3 FY25$25.6MQ4 FY25$32.6MQ1 FY26$12.3MQ2 FY26$3.2MQ3 FY26$48.3MQ4 FY26
Operating cash flow less capital spending.
Pricesmart: operating cash flow against capital spendingPricesmart: operating cash flow against capital spendingOperating cash flowCapital spending$38.5M$28.2MQ1 FY25$87.9M$34.6MQ2 FY25$52.8M$38.8MQ3 FY25$82.1M$56.5MQ4 FY25$71.2M$38.6MQ1 FY26$62.0M$49.7MQ2 FY26$58.9M$55.7MQ3 FY26$116M$67.3MQ4 FY26
Latest (Q4 FY26): Operating cash flow $116M, Capital spending $67.3M.

Capital allocation, year by year

Pricesmart: where the cash came from (up) and went (down), by fiscal yearPricesmart: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY22: Operating cash flow $122MFY22: Net borrowing $20.6MFY22: Asset sales $5.2MFY22: Capital spending −$121MFY22: Buybacks −$6.3MFY22: Dividends −$26.6M$148MFY22FY23: Operating cash flow $257MFY23: Net borrowing $348KFY23: Asset sales $361KFY23: Capital spending −$143MFY23: Buybacks −$12.9MFY23: Dividends −$28.5M$258MFY23FY24: Operating cash flow $208MFY24: Net borrowing −$10.4MFY24: Asset sales $1.7MFY24: Capital spending −$169MFY24: Buybacks −$73.5MFY24: Dividends −$66.2M$209MFY24FY25: Operating cash flow $261MFY25: Net borrowing $59.6MFY25: Asset sales $2.4MFY25: Capital spending −$158MFY25: Buybacks −$6.7MFY25: Dividends −$38.7M$323MFY25FY26: Operating cash flow $308MFY26: Net borrowing −$29.9MFY26: Asset sales $6.7MFY26: Capital spending −$211MFY26: Buybacks −$9.1MFY26: Dividends −$43.0M$314MFY26
Over these 5 years operating cash flow totalled $1.2B; the largest uses were capital spending ($801M) and dividends ($203M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$332M
Debt$169M
Net cash$163M
Due within a year$64.6M

Pricesmart funds itself: free cash flow was — over the last twelve months, and $332M of cash and investments stands against $169M of debt ($64.6M due within a year, 5.1× covered by cash).

Pricesmart: debt maturities by year (FY26)Pricesmart: debt maturities by year (FY26)$64.6MYear 1$34.9MYear 2$23.3MYear 3$4.7MYear 4$3.1MYear 5$37.0MAfter year 5
Principal due in each year as disclosed in the annual report, against $332M of cash and investments now.

Where the cash came from and went

Pricesmart: sources (+) and uses (−) of cash, Q4 FY26Pricesmart: sources (+) and uses (−) of cash, Q4 FY26Operating cash flow$116MCapital spending−$67.3MDividends−$21.4MNet borrowing (+) / repaid (−)−$13.7MCash drawn (+) / kept (−)−$10.1MExchange rates−$5.5MOther investing$2.3MAsset & business sales$257KBuybacks−$177K

From profit to cash

Pricesmart: net income to operating cash flow, Q4 FY26Pricesmart: net income to operating cash flow, Q4 FY26Net income$37.6MDepreciation & amortization$26.5MStock-based pay$7.2MGains on disposals$2.7MInventory$4.8MPayables$1.4MPrepaid and other assets$46.0MOperating cash flow$116M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q4 FY26146416
Q3 FY26147426
Q2 FY26145415
Q1 FY26147435
Q4 FY25147426
Q3 FY25147426
Q2 FY25145415
Q1 FY25249456

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q4 FY26$116M−$67.3M−$177K−$21.4M−$13.7M−$10.1M$48.3M
Q3 FY26$58.9M−$55.7M−$113K—$15.8M−$59.5M$3.2M
Q2 FY26$62.0M−$49.7M−$3.7M—−$20.9M$54.5M$12.3M
Q1 FY26$71.2M−$38.6M−$5.1M—−$11.1M$35.7M$32.6M
Q4 FY25$82.1M−$56.5M−$853K−$19.4M$76.3M−$102M$25.6M
Q3 FY25$52.8M−$38.8M−$105K—−$1.1M−$37.6M$14.0M
Q2 FY25$87.9M−$34.6M−$2.5M—−$1.3M−$9.0M$53.2M
Q1 FY25$38.5M−$28.2M−$3.3M—−$14.3M−$150K$10.3M

Pricesmart: income statement and cash flow

Pricesmart, Q4 FY26: revenue $1.5B (+14% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

Pricesmart: 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.