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Construction Partners cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$30.6M in Q3 FY26 · $176M over twelve months

Operating cash flow$93.1M
Capital spending−$62.5M
Free cash flow+$30.6M
Cash / net income1.6×

Analysis

In Q3 FY26, Construction Partners generated $93.1M of operating cash flow and spent $62.5M on capital projects, leaving free cash flow of $30.6M. That is $15.8M less than in Q3 FY25 ($46.4M).

Over the twelve months to Jun 30, 2026, operating cash flow was $353M; the largest uses were acquisitions ($557M), capital spending ($177M), buybacks ($32.5M); besides operations, cash came from net borrowing (+) / repaid (−) ($308M), other financing ($42.6M); the cash balance fell by $21.6M.

Operating cash flow was $93.1M against net income of $59.6M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$41.9M, payables +$27.1M, deferred taxes +$18.9M.

Free cash flow

Construction Partners: free cash flow by quarterConstruction Partners: free cash flow by quarter$78.4MQ4 FY24$13.8MQ1 FY25$14.2MQ2 FY25$46.4MQ3 FY25$78.9MQ4 FY25$47.1MQ1 FY26$18.9MQ2 FY26$30.6MQ3 FY26
Operating cash flow less capital spending.
Construction Partners: operating cash flow against capital spendingConstruction Partners: operating cash flow against capital spendingOperating cash flowCapital spending$95.9M$17.5MQ4 FY24$40.7M$26.8MQ1 FY25$55.6M$41.4MQ2 FY25$83.0M$36.7MQ3 FY25$112M$33.0MQ4 FY25$82.6M$35.5MQ1 FY26$65.2M$46.3MQ2 FY26$93.1M$62.5MQ3 FY26
Latest (Q3 FY26): Operating cash flow $93.1M, Capital spending $62.5M.

Capital allocation, year by year

Construction Partners: where the cash came from (up) and went (down), by fiscal yearConstruction Partners: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY21: Operating cash flow $48.5MFY21: Net borrowing $124MFY21: Asset sales $3.7MFY21: Capital spending −$56.3MFY21: Acquisitions −$211M$176MFY21FY22: Operating cash flow $16.5MFY22: Net borrowing $159MFY22: Asset sales $7.5MFY22: Capital spending −$68.9MFY22: Acquisitions −$129MFY22: Buybacks −$39K$183MFY22FY23: Operating cash flow $157MFY23: Net borrowing −$125KFY23: Asset sales $54.7MFY23: Capital spending −$97.8MFY23: Acquisitions −$91.8MFY23: Buybacks −$139K$212MFY23FY24: Operating cash flow $209MFY24: Net borrowing $137MFY24: Asset sales $14.1MFY24: Capital spending −$87.9MFY24: Acquisitions −$232MFY24: Buybacks −$11.3M$361MFY24FY25: Operating cash flow $291MFY25: Net borrowing $1.1BFY25: Asset sales $17.8MFY25: Capital spending −$138MFY25: Acquisitions −$1.2BFY25: Buybacks −$23.5M$1.4BFY25
Over these 5 years operating cash flow totalled $723M; the largest uses were acquisitions ($1.8B) and capital spending ($449M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$94.5M
Debt$1.6B
Net debt$1.5B
Due within a year$38.5M

Construction Partners funds itself: free cash flow was $176M over the last twelve months, and $94.5M of cash and investments stands against $1.6B of debt ($38.5M due within a year, 2.5× covered by cash).

Construction Partners: debt maturities by year (FY25)Construction Partners: debt maturities by year (FY25)$38.5MYear 1$38.5MYear 2$38.5MYear 3$38.5MYear 4$481MYear 5$991MAfter year 5
Principal due in each year as disclosed in the annual report, against $94.5M of cash and investments now.

Where the cash came from and went

Construction Partners: sources (+) and uses (−) of cash, Q3 FY26Construction Partners: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$93.1MCapital spending−$62.5MAcquisitions−$61.6MNet borrowing (+) / repaid (−)$36.3MCash drawn (+) / kept (−)−$17.7MAsset & business sales$10.9MOther investing$5.3MBuybacks−$3.8M
Construction Partners: sources (+) and uses (−) of cash, TTM to Q3 FY26Construction Partners: sources (+) and uses (−) of cash, TTM to Q3 FY26Acquisitions−$557MOperating cash flow$353MNet borrowing (+) / repaid (−)$308MCapital spending−$177MOther financing$42.6MBuybacks−$32.5MAsset & business sales$30.9MCash drawn (+) / kept (−)$21.6MOther investing$11.2M

From profit to cash

Construction Partners: net income to operating cash flow, Q3 FY26Construction Partners: net income to operating cash flow, Q3 FY26Net income$59.6MDepreciation & amortization$41.9MStock-based pay$8.8MDeferred taxes$18.9MGains on investments$30KGains on disposals−$5.9MOther non-cash−$122KInventory−$8.5MPayables$27.1MAccrued liabilities$8.5MDeferred revenue$6.8MContract assets$4.8MPrepaid and other assets−$477KOperating cash flow$93.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 FY26$93.1M−$62.5M−$61.6M−$3.8M$36.3M−$17.7M$30.6M
Q2 FY26$65.2M−$46.3M−$60.8M−$3.5M$5.4M$27.2M$18.9M
Q1 FY26$82.6M−$35.5M−$215M−$22.4M$130M$54.8M$47.1M
Q4 FY25$112M−$33.0M−$219M−$2.7M$399M−$42.7M$78.9M
Q3 FY25$83.0M−$36.7M−$107M−$674K$70.3M−$12.7M$46.4M
Q2 FY25$55.6M−$41.4M−$175M−$8.0M$137M$29.5M$14.2M
Q1 FY25$40.7M−$26.8M−$654M−$12.1M$707M−$56.4M$13.8M
Q4 FY24$95.9M−$17.5M−$96.6M—$185M−$18.2M$78.4M

Construction Partners: income statement and cash flow

Construction Partners, Q3 FY26: revenue $999M (+28% year over year), operating margin 10.9%. The chart follows the revenue to costs, profit and cash.

Construction Partners: 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.