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RLJ Lodging Trust cash flow, quarter by quarter

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

Free cash flow$41.8M in Q3 2026 · $182M over twelve months

Operating cash flow$69.0M
Capital spending−$27.1M
Free cash flow+$41.8M
Cash / net income15.1×

Analysis

In Q3 2026, RLJ Lodging Trust generated $69.0M of operating cash flow and spent $27.1M on capital projects, leaving free cash flow of $41.8M. That is $8.3M more than in Q3 2025 ($33.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $273M; the largest uses were other financing ($532M), dividends ($91.5M), capital spending ($90.9M); besides operations, cash came from net borrowing (+) / repaid (−) ($494M), asset & business sales ($58.0M); the cash balance rose by $81.8M.

Operating cash flow was $69.0M against net income of $4.6M — 15.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$47.7M, payables +$11.3M, deferred revenue +$8.0M.

Free cash flow

RLJ Lodging Trust: free cash flow by quarterRLJ Lodging Trust: free cash flow by quarter$41.6MQ4 2024−$30.5MQ1 2025$66.1MQ2 2025$33.6MQ3 2025$48.2MQ4 2025−$2.1MQ1 2026$93.9MQ2 2026$41.8MQ3 2026
Operating cash flow less capital spending.
RLJ Lodging Trust: operating cash flow against capital spendingRLJ Lodging Trust: operating cash flow against capital spendingOperating cash flowCapital spending$71.0M$29.4MQ4 2024$16.3M$46.8MQ1 2025$101M$35.2MQ2 2025$63.3M$29.7MQ3 2025$62.9M$14.7MQ4 2025$26.2M$28.4MQ1 2026$115M$20.7MQ2 2026$69.0M$27.1MQ3 2026
Latest (Q3 2026): Operating cash flow $69.0M, Capital spending $27.1M.

Capital allocation, year by year

RLJ Lodging Trust: where the cash came from (up) and went (down), by fiscal yearRLJ Lodging Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $43.0MFY2021: Net borrowing $444MFY2021: Asset sales $199MFY2021: Capital spending −$48.3MFY2021: Dividends −$6.7M$685MFY2021FY2022: Operating cash flow $257MFY2022: Net borrowing −$200MFY2022: Asset sales $48.1MFY2022: Capital spending −$124MFY2022: Buybacks −$57.6MFY2022: Dividends −$13.3M$305MFY2022FY2023: Operating cash flow $315MFY2023: Net borrowing −$319MFY2023: Capital spending −$132MFY2023: Buybacks −$76.0MFY2023: Dividends −$49.2M$315MFY2023FY2024: Operating cash flow $285MFY2024: Net borrowing $200MFY2024: Asset sales $19.5MFY2024: Capital spending −$136MFY2024: Buybacks −$22.0MFY2024: Dividends −$69.8M$505MFY2024FY2025: Operating cash flow $244MFY2025: Asset sales $69.0MFY2025: Capital spending −$126MFY2025: Buybacks −$28.6MFY2025: Dividends −$91.4M$313MFY2025
Over these 5 years operating cash flow totalled $1.1B; the largest uses were capital spending ($568M) and net borrowing ($519M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$448M
Debt$2.2B
Net debt$1.7B
Due within a year$880M

RLJ Lodging Trust funds itself: free cash flow was $182M over the last twelve months, and $448M of cash and investments stands against $2.2B of debt ($880M due within a year, 0.5× covered by cash).

RLJ Lodging Trust: debt maturities by year (FY2025)RLJ Lodging Trust: debt maturities by year (FY2025)$880MYear 1$500MYear 2$300MYear 3$525MYear 4
Principal due in each year as disclosed in the annual report, against $448M of cash and investments now.

Where the cash came from and went

RLJ Lodging Trust: sources (+) and uses (−) of cash, Q3 2026RLJ Lodging Trust: sources (+) and uses (−) of cash, Q3 2026Other financing−$506MCash drawn (+) / kept (−)$488MOperating cash flow$69.0MCapital spending−$27.1MDividends−$22.9MAsset & business sales$9K
RLJ Lodging Trust: sources (+) and uses (−) of cash, TTM to Q3 2026RLJ Lodging Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$532MNet borrowing (+) / repaid (−)$494MOperating cash flow$273MDividends−$91.5MCapital spending−$90.9MCash drawn (+) / kept (−)−$81.8MAsset & business sales$58.0MBuybacks−$28.5M

From profit to cash

RLJ Lodging Trust: net income to operating cash flow, Q3 2026RLJ Lodging Trust: net income to operating cash flow, Q3 2026Net income$4.6MDepreciation & amortization$47.7MStock-based pay$4.6MGains on disposals−$9KReceivables−$1.5MPayables$11.3MDeferred revenue$8.0MPrepaid and other assets$6.7MOperating cash flow$69.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$69.0M−$27.1M—−$22.9M—$488M$41.8M
Q2 2026$115M−$20.7M−$367K−$22.8M—−$586M$93.9M
Q1 2026$26.2M−$28.4M−$3.1M−$23.2M−$5.4M$54.6M−$2.1M
Q4 2025$62.9M−$14.7M−$25.0M−$22.7M—−$38.0M$48.2M
Q3 2025$63.3M−$29.7M—−$22.7M—−$2.9M$33.6M
Q2 2025$101M−$35.2M−$428K−$22.8M—−$28.8M$66.1M
Q1 2025$16.3M−$46.8M−$3.1M−$23.2M—$60.9M−$30.5M
Q4 2024$71.0M−$29.4M−$13.0M−$23.0M—−$9.0M$41.6M

RLJ Lodging Trust: income statement and cash flow

RLJ Lodging Trust, Q3 2026: revenue $354M (+7% year over year), operating margin 1.4%. The chart follows the revenue to costs, profit and cash.

RLJ Lodging Trust: 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.