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FreightCar America cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$11.3M in Q2 2026 · $17.9M over twelve months

Operating cash flow$12.1M
Capital spending−$736K
Free cash flow+$11.3M
Cash conversion cycle19 days

Analysis

In Q2 2026, FreightCar America generated $12.1M of operating cash flow and spent $736K on capital projects, leaving free cash flow of $11.3M. That is $3.4M more than in Q2 2025 ($7.9M).

Over the twelve months to Jun 30, 2026, operating cash flow was $21.2M; the largest uses were net borrowing (+) / repaid (−) ($8.8M), acquisitions ($6.8M), capital spending ($3.3M); the cash balance rose by $1.6M.

Operating cash flow was $12.1M against net income of −$30.1M. The largest differences: inventory +$20.6M, payables +$11.8M, depreciation & amortization +$1.8M.

Its cash conversion cycle was 19 days (receivables 10 + inventory 59 − payables 50).

Free cash flow

FreightCar America: free cash flow by quarterFreightCar America: free cash flow by quarter$5.7MQ3 2024$4.6MQ4 2024$12.5MQ1 2025$7.9MQ2 2025$2.2MQ3 2025$8.8MQ4 2025−$4.5MQ1 2026$11.3MQ2 2026
Operating cash flow less capital spending.
FreightCar America: operating cash flow against capital spendingFreightCar America: operating cash flow against capital spendingOperating cash flowCapital spending$7.2M$1.5MQ3 2024$5.9M$1.3MQ4 2024$12.8M$330KQ1 2025$8.5M$608KQ2 2025$3.4M$1.2MQ3 2025$10.0M$1.3MQ4 2025−$4.3M$147KQ1 2026$12.1M$736KQ2 2026
Latest (Q2 2026): Operating cash flow $12.1M, Capital spending $736K.

Capital allocation, year by year

FreightCar America: where the cash came from (up) and went (down), by fiscal yearFreightCar America: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsDividendsFY2021: Operating cash flow −$55.4MFY2021: Net borrowing −$17.4MFY2021: Capital spending −$2.3MFY2021FY2022: Operating cash flow $11.5MFY2022: Net borrowing −$126MFY2022: Capital spending −$7.8M$11.5MFY2022FY2023: Operating cash flow $4.8MFY2023: Net borrowing −$160MFY2023: Capital spending −$12.7M$4.8MFY2023FY2024: Operating cash flow $44.9MFY2024: Net borrowing $56.5MFY2024: Shares issued $2.0MFY2024: Capital spending −$5.0MFY2024: Dividends −$27.9M$103MFY2024FY2025: Operating cash flow $34.8MFY2025: Net borrowing −$19.0MFY2025: Capital spending −$3.4MFY2025: Acquisitions −$6.3M$34.8MFY2025
Over these 5 years operating cash flow totalled $40.6M; the largest uses were net borrowing ($322M) and operating cash flow ($55.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$63.0M
Debt$101M
Net debt$37.7M
Due within a year$9.7M

FreightCar America funds itself: free cash flow was $17.9M over the last twelve months, and $63.0M of cash and investments stands against $101M of debt ($9.7M due within a year, 6.5× covered by cash).

FreightCar America: debt maturities by year (FY2025)FreightCar America: debt maturities by year (FY2025)$9.7MYear 1$2.9MYear 2$99.5MYear 3
Principal due in each year as disclosed in the annual report, against $63.0M of cash and investments now.

Where the cash came from and went

FreightCar America: sources (+) and uses (−) of cash, Q2 2026FreightCar America: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$12.1MCash drawn (+) / kept (−)−$10.2MCapital spending−$736KNet borrowing (+) / repaid (−)−$718KOther investing−$434K
FreightCar America: sources (+) and uses (−) of cash, TTM to Q2 2026FreightCar America: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$21.2MNet borrowing (+) / repaid (−)−$8.8MAcquisitions−$6.8MCapital spending−$3.3MCash drawn (+) / kept (−)−$1.6MTaxes on employees’ shares−$436KOther financing−$288K

From profit to cash

FreightCar America: net income to operating cash flow, Q2 2026FreightCar America: net income to operating cash flow, Q2 2026Net income−$30.1MDepreciation & amortization$1.8MStock-based pay$991KOther non-cash$713KReceivables−$453KInventory$20.6MPayables$11.8MIncome taxes payable−$304KOperating cash flow$12.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202610595019
Q1 2026181259251
Q4 202516736524
Q3 202514716322
Q2 202513847028
Q1 202514856336
Q4 202412634927
Q3 202415715729

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$12.1M−$736K−$718K—−$10.2M$11.3M
Q1 2026−$4.3M−$147K−$6.6M—$11.5M−$4.5M
Q4 2025$10.0M−$1.3M——−$1.6M$8.8M
Q3 2025$3.4M−$1.2M−$856K—−$1.4M$2.2M
Q2 2025$8.5M−$608K−$1.2M—−$7.3M$7.9M
Q1 2025$12.8M−$330K−$1.0M—−$9.6M$12.5M
Q4 2024$5.9M−$1.3M$114M$2.4M$380K$4.6M
Q3 2024$7.2M−$1.5M−$250K−$144K−$5.5M$5.7M

FreightCar America: income statement and cash flow

FreightCar America, Q2 2026: revenue $113M (-5% year over year), operating margin -3.8%. The chart follows the revenue to costs, profit and cash.

FreightCar America: 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.