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Qnity Electronics cash flow, quarter by quarter

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

Free cash flow$193M in Q3 2026 · $777M over twelve months

Operating cash flow$271M
Capital spending−$78.0M
Free cash flow+$193M
Cash / net income1.4×
Cash conversion cycle61 days

Analysis

In Q3 2026, Qnity Electronics generated $271M of operating cash flow and spent $78.0M on capital projects, leaving free cash flow of $193M. That is $48.0M less than in Q3 2025 ($241M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.1B; the largest uses were capital spending ($361M), dividends ($63.0M), partners ($10.0M); besides operations, cash came from other financing ($279M), asset & business sales ($6.0M); the cash balance rose by $996M.

Operating cash flow was $271M against net income of $196M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$98.0M, payables +$69.0M, deferred taxes −$38.0M.

Its cash conversion cycle was 61 days (receivables 70 + inventory 85 − payables 95).

Free cash flow

Qnity Electronics: free cash flow by quarterQnity Electronics: free cash flow by quarter$220MQ4 2024$103MQ1 2025$224MQ2 2025$241MQ3 2025$420MQ4 2025$13.0MQ1 2026$151MQ2 2026$193MQ3 2026
Operating cash flow less capital spending.
Qnity Electronics: operating cash flow against capital spendingQnity Electronics: operating cash flow against capital spendingOperating cash flowCapital spending$286M$66.0MQ4 2024$207M$104MQ1 2025$273M$49.0MQ2 2025$302M$61.0MQ3 2025$491M$71.0MQ4 2025$135M$122MQ1 2026$241M$90.0MQ2 2026$271M$78.0MQ3 2026
Latest (Q3 2026): Operating cash flow $271M, Capital spending $78.0M.

Capital allocation, year by year

Qnity Electronics: where the cash came from (up) and went (down), by fiscal yearQnity Electronics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2023: Operating cash flow $882MFY2023: Asset sales $5.0MFY2023: Capital spending −$231M$887MFY2023FY2024: Operating cash flow $1.1BFY2024: Asset sales $15.0MFY2024: Capital spending −$200M$1.1BFY2024FY2025: Operating cash flow $1.3BFY2025: Net borrowing $4.1BFY2025: Shares issued $3.0MFY2025: Capital spending −$285MFY2025: Dividends −$13.0M$5.4BFY2025
Over these 3 years operating cash flow totalled $3.2B; the largest uses were capital spending ($716M) and dividends ($13.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.1B
Debt$4.1B
Net debt$3.0B
Due within a year$24.0M

Qnity Electronics funds itself: free cash flow was $777M over the last twelve months, and $1.1B of cash and investments stands against $4.1B of debt ($24.0M due within a year, 46.8× covered by cash).

Qnity Electronics: debt maturities by year (FY2025)Qnity Electronics: debt maturities by year (FY2025)$24.0MYear 1$24.0MYear 2$24.0MYear 3$24.0MYear 4$24.0MYear 5$4.0BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.1B of cash and investments now.

Where the cash came from and went

Qnity Electronics: sources (+) and uses (−) of cash, Q3 2026Qnity Electronics: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$271MCash drawn (+) / kept (−)−$163MCapital spending−$78.0MBuybacks−$25.0MExchange rates$20.0MDividends−$16.0MOther financing−$8.0MPartners−$4.0MOther investing$3.0M
Qnity Electronics: sources (+) and uses (−) of cash, TTM to Q3 2026Qnity Electronics: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.1BCash drawn (+) / kept (−)−$996MCapital spending−$361MOther financing$279MDividends−$63.0MPartners−$10.0MAsset & business sales$6.0MOther investing$4.0MExchange rates$3.0M

From profit to cash

Qnity Electronics: net income to operating cash flow, Q3 2026Qnity Electronics: net income to operating cash flow, Q3 2026Net income$196MDepreciation & amortization$98.0MStock-based pay$12.0MDeferred taxes−$38.0MOther non-cash$15.0MPayables$69.0MAccrued liabilities$11.0MPrepaid and other assets$27.0MIncome taxes payable$13.0MOther operating capital−$8.0MOperating cash flow$271M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202670859561
Q2 202669858966
Q1 202670888968
Q4 202569949172

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$271M−$78.0M−$25.0M−$16.0M—−$163M$193M
Q2 2026$241M−$90.0M−$25.0M−$17.0M−$6.0M−$104M$151M
Q1 2026$135M−$122M−$25.0M−$17.0M−$6.0M$58.0M$13.0M
Q4 2025$491M−$71.0M—−$13.0M$2.4B−$787M$420M
Q3 2025$302M−$61.0M———$51.0M$241M
Q2 2025$273M−$49.0M———−$17.0M$224M
Q1 2025$207M−$104M———$4.0M$103M
Q4 2024$286M−$66.0M———−$11.0M$220M

Qnity Electronics: income statement and cash flow

Qnity Electronics, Q3 2026: revenue $1.6B (+22% year over year), operating margin 15.9%. The chart follows the revenue to costs, profit and cash.

Qnity Electronics: 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.