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Parsons cash flow, quarter by quarter

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

Free cash flow$251M in Q3 2026 · $409M over twelve months

Operating cash flow$269M
Capital spending−$17.9M
Free cash flow+$251M
Cash / net income4.0×
Cash conversion cycle45 days

Analysis

In Q3 2026, Parsons generated $269M of operating cash flow and spent $17.9M on capital projects, leaving free cash flow of $251M. That is $101M more than in Q3 2025 ($150M).

Over the twelve months to Sep 30, 2026, operating cash flow was $490M; the largest uses were acquisitions ($357M), buybacks ($170M), capital spending ($80.9M); besides operations, cash came from net borrowing (+) / repaid (−) ($111M), shares issued ($9.8M); the cash balance fell by $126M.

Operating cash flow was $269M against net income of $67.4M — 4.0× profit, cash ran ahead of reported earnings. The largest differences: contract assets +$107M, deferred revenue −$41.6M, receivables +$38.3M.

Its cash conversion cycle was 45 days (receivables 63 + inventory 0 − payables 18).

Free cash flow

Parsons: free cash flow by quarterParsons: free cash flow by quarter$108MQ4 2024−$25.3MQ1 2025$150MQ2 2025$150MQ3 2025$136MQ4 2025−$18.6MQ1 2026$41.5MQ2 2026$251MQ3 2026
Operating cash flow less capital spending.
Parsons: operating cash flow against capital spendingParsons: operating cash flow against capital spendingOperating cash flowCapital spending$127M$18.8MQ4 2024−$11.8M$13.5MQ1 2025$160M$9.4MQ2 2025$163M$13.1MQ3 2025$168M$31.9MQ4 2025−$3.7M$14.9MQ1 2026$57.6M$16.1MQ2 2026$269M$17.9MQ3 2026
Latest (Q3 2026): Operating cash flow $269M, Capital spending $17.9M.

Capital allocation, year by year

Parsons: where the cash came from (up) and went (down), by fiscal yearParsons: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $206MFY2021: Net borrowing −$52.1MFY2021: Shares issued $5.6MFY2021: Asset sales $1.3MFY2021: Capital spending −$21.1MFY2021: Acquisitions −$198MFY2021: Buybacks −$21.7M$212MFY2021FY2022: Operating cash flow $238MFY2022: Net borrowing $348MFY2022: Shares issued $5.4MFY2022: Asset sales $771KFY2022: Capital spending −$30.6MFY2022: Acquisitions −$379MFY2022: Buybacks −$22.0M$591MFY2022FY2023: Operating cash flow $408MFY2023: Net borrowing −$2.6MFY2023: Shares issued $6.1MFY2023: Asset sales $546KFY2023: Capital spending −$40.4MFY2023: Acquisitions −$222MFY2023: Buybacks −$11.0M$414MFY2023FY2024: Operating cash flow $524MFY2024: Net borrowing −$3.4MFY2024: Shares issued $808MFY2024: Asset sales $179KFY2024: Capital spending −$49.2MFY2024: Acquisitions −$429MFY2024: Buybacks −$25.0M$1.3BFY2024FY2025: Operating cash flow $478MFY2025: Net borrowing $95.6MFY2025: Shares issued $8.9MFY2025: Asset sales $842KFY2025: Capital spending −$68.0MFY2025: Acquisitions −$145MFY2025: Buybacks −$125M$584MFY2025
Over these 5 years operating cash flow totalled $1.9B; the largest uses were acquisitions ($1.4B) and capital spending ($209M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$297M
Debt$1.4B
Net debt$1.1B

Parsons funds itself: free cash flow was $409M over the last twelve months, and $297M of cash and investments stands against $1.4B of debt.

Where the cash came from and went

Parsons: sources (+) and uses (−) of cash, Q3 2026Parsons: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$269MNet borrowing (+) / repaid (−)−$119MBuybacks−$60.0MCash drawn (+) / kept (−)−$30.9MOther investing−$22.4MPartners−$19.1MCapital spending−$17.9MOther financing$845KNot reconciled$19K
Parsons: sources (+) and uses (−) of cash, TTM to Q3 2026Parsons: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$490MAcquisitions−$357MBuybacks−$170MCash drawn (+) / kept (−)$126MNet borrowing (+) / repaid (−)$111MCapital spending−$80.9MOther investing−$57.0MPartners−$55.8MOther financing−$17.0MShares issued$9.8MAsset & business sales$807KNot reconciled$78K

From profit to cash

Parsons: net income to operating cash flow, Q3 2026Parsons: net income to operating cash flow, Q3 2026Net income$67.4MDepreciation & amortization$34.1MStock-based pay$12.3MDeferred taxes$1.2MGains on disposals−$202KReceivables$38.3MPayables−$3.4MDeferred revenue−$41.6MContract assets$107MPrepaid and other assets$23.3MOther liabilities$1.8MIncome taxes payable−$1.8MOperating cash flow$269M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202663—1845
Q2 202665—1748
Q1 202667—1948
Q4 202567—1948
Q3 202568—2047
Q2 202566—2145
Q1 202564—1946
Q4 202457—1740

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$269M−$17.9M—−$60.0M−$119M—−$30.9M$251M
Q2 2026$57.6M−$16.1M$3.4M−$15.0M−$40.0M$5.1M$17.9M$41.5M
Q1 2026−$3.7M−$14.9M−$334M−$35.0M$273M$572K$182M−$18.6M
Q4 2025$168M−$31.9M−$26.8M−$60.0M−$1.1M$4.1M−$43.8M$136M
Q3 2025$163M−$13.1M−$436K−$25.0M−$1.1M—−$11.2M$150M
Q2 2025$160M−$9.4M−$86.2M−$15.0M−$1.1M$4.8M−$142M$150M
Q1 2025−$11.8M−$13.5M−$31.6M−$25.0M−$1.1M—$184M−$25.3M
Q4 2024$127M−$18.8M−$230M−$15.0M−$957K$4.2M$105M$108M

Parsons: income statement and cash flow

Parsons, Q3 2026: revenue $1.7B (+2% year over year), operating margin 6.3%. The chart follows the revenue to costs, profit and cash.

Parsons: 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.