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Pyxus International cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$150M in Q2 FY27 · −$154M over twelve months

Operating cash flow−$142M
Capital spending−$8.4M
Free cash flow−$150M
Cash / net income-35.2×
Cash conversion cycle14 days

Analysis

In Q2 FY27, Pyxus International generated −$142M of operating cash flow and spent $8.4M on capital projects, leaving free cash flow of −$150M. That is $58.5M less than in Q2 FY26 (−$91.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$129M; the largest uses were operating cash flow ($129M), capital spending ($24.6M), net borrowing (+) / repaid (−) ($11.7M); besides operations, cash came from other investing ($172M); the cash balance fell by $5.2M.

Operating cash flow was −$142M against net income of $4.0M — -35.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$110M, deferred revenue −$45.5M, income taxes payable +$11.9M.

Its cash conversion cycle was 14 days (receivables 39 + inventory 0 − payables 24).

Free cash flow

Pyxus International: free cash flow by quarterPyxus International: free cash flow by quarter$103MQ3 FY25$149MQ4 FY25−$500MQ1 FY26−$91.9MQ2 FY26$56.3MQ3 FY26$302MQ4 FY26−$364MQ1 FY27−$150MQ2 FY27
Operating cash flow less capital spending.
Pyxus International: operating cash flow against capital spendingPyxus International: operating cash flow against capital spendingOperating cash flowCapital spending$109M$5.3MQ3 FY25$158M$9.5MQ4 FY25−$495M$4.3MQ1 FY26−$85.6M$6.2MQ2 FY26$62.4M$6.0MQ3 FY26$310M$7.9MQ4 FY26−$360M$4.2MQ1 FY27−$142M$8.4MQ2 FY27
Latest (Q2 FY27): Operating cash flow −$142M, Capital spending $8.4M.

Capital allocation, year by year

Pyxus International: where the cash came from (up) and went (down), by fiscal yearPyxus International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingFY22: Operating cash flow −$199MFY22: Net borrowing $125MFY22: Asset sales $4.1MFY22: Capital spending −$14.8M$129MFY22FY23: Operating cash flow −$138MFY23: Net borrowing −$229MFY23: Asset sales $3.1MFY23: Capital spending −$16.3M$3.1MFY23FY24: Operating cash flow −$215MFY24: Net borrowing −$294MFY24: Asset sales $4.3MFY24: Capital spending −$21.0M$4.3MFY24FY25: Operating cash flow −$13.4MFY25: Net borrowing −$158MFY25: Asset sales $3.8MFY25: Capital spending −$24.1M$3.8MFY25FY26: Operating cash flow −$208MFY26: Net borrowing $77.3MFY26: Asset sales $5.2MFY26: Capital spending −$22.1M$82.5MFY26
Over these 5 years operating cash flow totalled −$773M; the largest uses were operating cash flow ($773M) and net borrowing ($682M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$96.6M
Debt$1.3B
Net debt$1.2B
Due within a year$477M
Cash runway8 months

Pyxus International is burning cash: its operations consume cash, a free cash flow of −$154M a year at the current rate against $96.6M of cash and investments: a runway of about 8 months; $477M of debt also comes due within a year, which would need refinancing or new money before any new financing.

Pyxus International: debt maturities by year (FY26)Pyxus International: debt maturities by year (FY26)$477MYear 1$456MYear 2
Principal due in each year as disclosed in the annual report, against $96.6M of cash and investments now.

Where the cash came from and went

Pyxus International: sources (+) and uses (−) of cash, Q2 FY27Pyxus International: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow−$142MCash drawn (+) / kept (−)$78.3MNet borrowing (+) / repaid (−)$63.4MOther investing$11.7MCapital spending−$8.4MOther financing−$2.6MExchange rates−$391K
Pyxus International: sources (+) and uses (−) of cash, TTM to Q2 FY27Pyxus International: sources (+) and uses (−) of cash, TTM to Q2 FY27Other investing$172MOperating cash flow−$129MCapital spending−$24.6MNet borrowing (+) / repaid (−)−$11.7MOther financing−$9.0MCash drawn (+) / kept (−)$5.2MExchange rates−$2.8M

From profit to cash

Pyxus International: net income to operating cash flow, Q2 FY27Pyxus International: net income to operating cash flow, Q2 FY27Net income$4.0MDepreciation & amortization$5.6MReceivables−$110MPayables$2.2MDeferred revenue−$45.5MPrepaid and other assets$6.3MIncome taxes payable$11.9MOther operating capital$38KOperating cash flow−$142M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2739—2414
Q1 FY2743—3212
Q4 FY2632—2210
Q3 FY2631—229
Q2 FY2632—258
Q1 FY2635—269
Q4 FY2546—3115
Q3 FY2533—2210

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 FY27−$142M−$8.4M$63.4M$78.3M−$150M
Q1 FY27−$360M−$4.2M$354M−$41.9M−$364M
Q4 FY26$310M−$7.9M−$354M−$3.1M$302M
Q3 FY26$62.4M−$6.0M−$74.6M−$28.1M$56.3M
Q2 FY26−$85.6M−$6.2M$29.0M−$5.1M−$91.9M
Q1 FY26−$495M−$4.3M$477M−$15.8M−$500M
Q4 FY25$158M−$9.5M−$217M$24.2M$149M
Q3 FY25$109M−$5.3M−$164M$21.2M$103M

Pyxus International: income statement and cash flow

Pyxus International, Q2 FY27: revenue $534M (-6% year over year), operating margin 7.5%. The chart follows the revenue to costs, profit and cash.

Pyxus International: 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.