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RPM International cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$205M in Q1 FY27 · $706M over twelve months

Operating cash flow$264M
Capital spending−$58.5M
Free cash flow+$205M
Cash / net income1.0×
Cash conversion cycle82 days

Analysis

In Q1 FY27, RPM International generated $264M of operating cash flow and spent $58.5M on capital projects, leaving free cash flow of $205M. That is $30.4M more than in Q1 FY26 ($175M).

Over the twelve months to Aug 31, 2026, operating cash flow was $925M; the largest uses were other financing ($486M), dividends ($275M), capital spending ($220M); besides operations, cash came from net borrowing (+) / repaid (−) ($198M); the cash balance rose by $15.8M.

Operating cash flow was $264M against net income of $257M — 1.0× profit, roughly in line with earnings. The largest differences: receivables +$142M, employee-related liabilities −$121M, inventory −$81.6M.

Its cash conversion cycle was 82 days (receivables 66 + inventory 78 − payables 62).

Free cash flow

RPM International: free cash flow by quarterRPM International: free cash flow by quarter$229MQ2 FY25$33.3MQ3 FY25$78.2MQ4 FY25$175MQ1 FY26$296MQ2 FY26$25.6MQ3 FY26$178MQ4 FY26$205MQ1 FY27
Operating cash flow less capital spending.
RPM International: operating cash flow against capital spendingRPM International: operating cash flow against capital spendingOperating cash flowCapital spending$279M$50.0MQ2 FY25$91.5M$58.2MQ3 FY25$149M$71.0MQ4 FY25$238M$62.5MQ1 FY26$346M$49.3MQ2 FY26$73.5M$47.8MQ3 FY26$242M$63.9MQ4 FY26$264M$58.5MQ1 FY27
Latest (Q1 FY27): Operating cash flow $264M, Capital spending $58.5M.

Capital allocation, year by year

RPM International: where the cash came from (up) and went (down), by fiscal yearRPM International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingBuybacksDividendsFY22: Operating cash flow $179MFY22: Net borrowing $438MFY22: Capital spending −$222MFY22: Buybacks −$52.5MFY22: Dividends −$204M$616MFY22FY23: Operating cash flow $577MFY23: Net borrowing $342MFY23: Capital spending −$254MFY23: Buybacks −$50.0MFY23: Dividends −$214M$919MFY23FY24: Operating cash flow $1.1BFY24: Capital spending −$214MFY24: Buybacks −$55.0MFY24: Dividends −$232M$1.1BFY24FY25: Operating cash flow $768MFY25: Net borrowing $478MFY25: Capital spending −$230MFY25: Buybacks −$70.0MFY25: Dividends −$256M$1.2BFY25FY26: Operating cash flow $899MFY26: Net borrowing $84.0MFY26: Capital spending −$224MFY26: Buybacks −$77.5MFY26: Dividends −$272M$983MFY26
Over these 5 years operating cash flow totalled $3.5B; the largest uses were dividends ($1.2B) and capital spending ($1.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$316M
Debt$2.5B
Net debt$2.2B
Due within a year$409M

RPM International funds itself: free cash flow was $706M over the last twelve months, and $316M of cash and investments stands against $2.5B of debt ($409M due within a year, 0.8× covered by cash).

RPM International: debt maturities by year (FY26)RPM International: debt maturities by year (FY26)$409MYear 1$281MYear 2$354MYear 3$2.0MYear 4$599MYear 5$901MAfter year 5
Principal due in each year as disclosed in the annual report, against $316M of cash and investments now.

Where the cash came from and went

RPM International: sources (+) and uses (−) of cash, Q1 FY27RPM International: sources (+) and uses (−) of cash, Q1 FY27Other financing−$286MOperating cash flow$264MNet borrowing (+) / repaid (−)$149MDividends−$68.1MCapital spending−$58.5MBuybacks−$22.4MOther investing$18.7MCash drawn (+) / kept (−)$2.3MExchange rates$826K
RPM International: sources (+) and uses (−) of cash, TTM to Q1 FY27RPM International: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$925MOther financing−$486MDividends−$275MCapital spending−$220MNet borrowing (+) / repaid (−)$198MBuybacks−$82.4MOther investing−$55.1MCash drawn (+) / kept (−)−$15.8MExchange rates$10.6M

From profit to cash

RPM International: net income to operating cash flow, Q1 FY27RPM International: net income to operating cash flow, Q1 FY27Net income$257MDepreciation & amortization$53.1MStock-based pay$9.6MDeferred taxes−$3.8MGains on disposals−$10.5MOther non-cash$244KReceivables$142MInventory−$81.6MPayables$57.3MAccrued liabilities−$18.8MEmployee-related liabilities−$121MContract assets−$22.7MPrepaid and other assets−$9.9MOperating cash flow$264M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2766786282
Q4 FY2659785583
Q3 FY267110266108
Q2 FY2667876193
Q1 FY2665795787
Q4 FY2558805484
Q3 FY257310165109
Q2 FY2565845892

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27$264M−$58.5M−$22.4M−$68.1M$149M$2.3M$205M
Q4 FY26$242M−$63.9M−$25.0M−$68.9M$35.0M−$21.0M$178M
Q3 FY26$73.5M−$47.8M−$17.5M−$69.1M−$61.0M$22.4M$25.6M
Q2 FY26$346M−$49.3M−$17.5M−$69.2M$75.0M−$19.5M$296M
Q1 FY26$238M−$62.5M−$17.5M−$64.5M$35.0M$5.1M$175M
Q4 FY25$149M−$71.0M−$17.5M−$65.5M$374M−$60.2M$78.2M
Q3 FY25$91.5M−$58.2M−$17.5M−$65.5M$79.0M$26.8M$33.3M
Q2 FY25$279M−$50.0M−$17.5M−$65.6M−$12.7M−$37.1M$229M

RPM International: income statement and cash flow

RPM International, Q1 FY27: revenue $2.2B (+5% year over year), operating margin 15.2%. The chart follows the revenue to costs, profit and cash.

RPM 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.