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Rush Enterprises cash flow, quarter by quarter

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

Free cash flow−$17.8M in Q3 2026 · $59.4M over twelve months

Operating cash flow$63.9M
Capital spending−$81.7M
Free cash flow−$17.8M
Cash / net income0.8×
Cash conversion cycle89 days

Analysis

In Q3 2026, Rush Enterprises generated $63.9M of operating cash flow and spent $81.7M on capital projects, leaving free cash flow of −$17.8M. That is $289M less than in Q3 2025 ($271M).

Over the twelve months to Sep 30, 2026, operating cash flow was $370M; the largest uses were capital spending ($311M), other financing ($186M), buybacks ($85.1M); besides operations, cash came from net borrowing (+) / repaid (−) ($342M), shares issued ($29.9M); the cash balance fell by $15.6M.

Operating cash flow was $63.9M against net income of $78.9M — 0.8× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$65.7M, receivables −$28.1M, inventory −$19.0M.

Its cash conversion cycle was 89 days (receivables 14 + inventory 91 − payables 16).

Free cash flow

Rush Enterprises: free cash flow by quarterRush Enterprises: free cash flow by quarter$263MQ4 2024$45.1MQ1 2025$114MQ2 2025$271MQ3 2025$31.9MQ4 2025−$5.6MQ1 2026$51.0MQ2 2026−$17.8MQ3 2026
Operating cash flow less capital spending.
Rush Enterprises: operating cash flow against capital spendingRush Enterprises: operating cash flow against capital spendingOperating cash flowCapital spending$392M$129MQ4 2024$154M$108MQ1 2025$228M$114MQ2 2025$368M$96.6MQ3 2025$113M$81.0MQ4 2025$60.4M$66.0MQ1 2026$133M$82.3MQ2 2026$63.9M$81.7MQ3 2026
Latest (Q3 2026): Operating cash flow $63.9M, Capital spending $81.7M.

Capital allocation, year by year

Rush Enterprises: where the cash came from (up) and went (down), by fiscal yearRush Enterprises: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $422MFY2021: Net borrowing $247MFY2021: Shares issued $18.3MFY2021: Asset sales $3.4MFY2021: Capital spending −$167MFY2021: Acquisitions −$269MFY2021: Buybacks −$33.6MFY2021: Dividends −$41.1M$691MFY2021FY2022: Operating cash flow $294MFY2022: Net borrowing $944MFY2022: Shares issued $13.3MFY2022: Asset sales $34.6MFY2022: Capital spending −$243MFY2022: Acquisitions −$20.8MFY2022: Buybacks −$93.7MFY2022: Dividends −$44.6M$1.3BFY2022FY2023: Operating cash flow $296MFY2023: Net borrowing $1.4BFY2023: Shares issued $18.0MFY2023: Asset sales $2.2MFY2023: Capital spending −$369MFY2023: Acquisitions −$16.1MFY2023: Buybacks −$212MFY2023: Dividends −$50.6M$1.7BFY2023FY2024: Operating cash flow $620MFY2024: Net borrowing $1.8BFY2024: Shares issued $25.4MFY2024: Asset sales $9.4MFY2024: Capital spending −$433MFY2024: Acquisitions −$16.4MFY2024: Buybacks −$15.7MFY2024: Dividends −$55.5M$2.5BFY2024FY2025: Operating cash flow $862MFY2025: Net borrowing $1.1BFY2025: Shares issued $16.3MFY2025: Asset sales $7.9MFY2025: Capital spending −$400MFY2025: Acquisitions −$24.3MFY2025: Buybacks −$195MFY2025: Dividends −$58.3M$2.0BFY2025
Over these 5 years operating cash flow totalled $2.5B; the largest uses were capital spending ($1.6B) and buybacks ($550M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$226M
Debt$275M
Net debt$48.4M
Due within a year$29.5M

Rush Enterprises funds itself: free cash flow was $59.4M over the last twelve months, and $226M of cash and investments stands against $275M of debt ($29.5M due within a year, 7.7× covered by cash).

Rush Enterprises: debt maturities by year (FY2025)Rush Enterprises: debt maturities by year (FY2025)$29.5MYear 1$127KYear 2$22.4MYear 3$220MYear 4$2.6MYear 5
Principal due in each year as disclosed in the annual report, against $226M of cash and investments now.

Where the cash came from and went

Rush Enterprises: sources (+) and uses (−) of cash, Q3 2026Rush Enterprises: sources (+) and uses (−) of cash, Q3 2026Capital spending−$81.7MOperating cash flow$63.9MOther investing−$49.1MCash drawn (+) / kept (−)$38.5MNet borrowing (+) / repaid (−)$33.7MDividends−$16.4MOther financing$15.9MBuybacks−$9.2MShares issued$7.3MAcquisitions−$3.2MAsset & business sales$190KExchange rates$161K
Rush Enterprises: sources (+) and uses (−) of cash, TTM to Q3 2026Rush Enterprises: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$370MNet borrowing (+) / repaid (−)$342MCapital spending−$311MOther financing−$186MBuybacks−$85.1MDividends−$61.5MAcquisitions−$55.0MOther investing−$50.4MShares issued$29.9MCash drawn (+) / kept (−)$15.6MTaxes on employees’ shares−$9.5MAsset & business sales$1.4M

From profit to cash

Rush Enterprises: net income to operating cash flow, Q3 2026Rush Enterprises: net income to operating cash flow, Q3 2026Net income$78.9MDepreciation & amortization$65.7MStock-based pay$5.3MDeferred taxes$2.1MGains on disposals$337KReceivables−$28.1MInventory−$19.0MPayables$2.1MAccrued liabilities$16.6MDeferred revenue$1.8MPrepaid and other assets$1.7MOther operating capital−$387KOperating cash flow$63.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202614911689
Q2 202614981894
Q1 20261510718103
Q4 20251410317101
Q3 20251410718104
Q2 20251410918106
Q1 20251611117109
Q4 20241410512108

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$63.9M−$81.7M−$3.2M−$9.2M−$16.4M$33.7M$7.3M$38.5M−$17.8M
Q2 2026$133M−$82.3M——−$15.2M$26.2M$5.5M−$25.3M$51.0M
Q1 2026$60.4M−$66.0M——−$15.3M$8.6M$15.9M−$27.0M−$5.6M
Q4 2025$113M−$81.0M−$52K−$70.5M−$14.6M$273M$1.3M$29.4M$31.9M
Q3 2025$368M−$96.6M−$143K−$7.4M−$14.8M$190M$7.2M−$30.9M$271M
Q2 2025$228M−$114M—−$87.4M−$14.5M$351M$1.7M$17.6M$114M
Q1 2025$154M−$108M—−$29.6M−$14.4M$285M$6.2M−$588K$45.1M
Q4 2024$392M−$129M−$1K−$5.9M−$14.3M$219M$5.1M−$43.1M$263M

Rush Enterprises: income statement and cash flow

Rush Enterprises, Q3 2026: revenue $2.1B (+12% year over year), operating margin 5.1%. The chart follows the revenue to costs, profit and cash.

Rush Enterprises: 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.