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Sabre cash flow, quarter by quarter

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

Free cash flow−$47.5M in Q3 2026 · −$77.3M over twelve months

Operating cash flow−$24.6M
Capital spending−$22.9M
Free cash flow−$47.5M
Cash conversion cycle-16 days

Analysis

In Q3 2026, Sabre generated −$24.6M of operating cash flow and spent $22.9M on capital projects, leaving free cash flow of −$47.5M. That is $60.9M less than in Q3 2025 ($13.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $16.6M; the largest uses were capital spending ($94.0M), other financing ($48.9M); besides operations, cash came from net borrowing (+) / repaid (−) ($136M), other investing ($520K); the cash balance rose by $4.9M.

Operating cash flow was −$24.6M against net income of −$25.5M. The largest differences: receivables −$30.7M, depreciation & amortization +$27.0M, stock-based pay +$23.7M.

Its cash conversion cycle was -16 days (receivables 49 + inventory 0 − payables 65): suppliers fund its working capital.

Free cash flow

Sabre: free cash flow by quarterSabre: free cash flow by quarter$61.0MQ4 2024−$97.5MQ1 2025−$240MQ2 2025$13.4MQ3 2025$116MQ4 2025−$155MQ1 2026$9.7MQ2 2026−$47.5MQ3 2026
Operating cash flow less capital spending.
Sabre: operating cash flow against capital spendingSabre: operating cash flow against capital spendingOperating cash flowCapital spending$75.7M$14.7MQ4 2024−$80.6M$16.9MQ1 2025−$218M$22.3MQ2 2025$33.7M$20.3MQ3 2025$139M$23.5MQ4 2025−$134M$21.2MQ1 2026$36.1M$26.4MQ2 2026−$24.6M$22.9MQ3 2026
Latest (Q3 2026): Operating cash flow −$24.6M, Capital spending $22.9M.

Capital allocation, year by year

Sabre: where the cash came from (up) and went (down), by fiscal yearSabre: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow −$415MFY2021: Net borrowing $9.3MFY2021: Capital spending −$54.3M$9.3MFY2021FY2022: Operating cash flow −$276MFY2022: Net borrowing −$4.1MFY2022: Capital spending −$69.5MFY2022: Acquisitions −$68.8MFY2022FY2023: Operating cash flow $67.4MFY2023: Net borrowing $66.7MFY2023: Capital spending −$80.9MFY2023: Acquisitions −$12.0M$134MFY2023FY2024: Operating cash flow $70.2MFY2024: Net borrowing $96.6MFY2024: Capital spending −$79.5M$167MFY2024FY2025: Operating cash flow −$109MFY2025: Net borrowing −$589MFY2025: Asset sales $9.3MFY2025: Capital spending −$82.9M$9.3MFY2025
Over these 5 years operating cash flow totalled −$662M; the largest uses were operating cash flow ($800M) and net borrowing ($593M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$588M
Debt$4.4B
Net debt$3.8B
Due within a year$248M
Cash runway3.1 years

Sabre is burning cash: its operations consume cash, a free cash flow of −$190M a year at the current rate against $588M of cash and investments: a runway of about 3.1 years; $248M of debt also comes due within a year, which the cash covers before any new financing.

Sabre: debt maturities by year (FY2025)Sabre: debt maturities by year (FY2025)$248MYear 1$206MYear 2$4.5MYear 3$2.3BYear 4$1.8BYear 5
Principal due in each year as disclosed in the annual report, against $588M of cash and investments now.

Where the cash came from and went

Sabre: sources (+) and uses (−) of cash, Q3 2026Sabre: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$45.3MOperating cash flow−$24.6MCapital spending−$22.9MCash drawn (+) / kept (−)$9.4MOther financing−$7.9MNot reconciled$981KExchange rates−$727KOther investing$520K
Sabre: sources (+) and uses (−) of cash, TTM to Q3 2026Sabre: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$136MCapital spending−$94.0MOther financing−$48.9MOperating cash flow$16.6MCash drawn (+) / kept (−)−$4.9MExchange rates−$2.8MNot reconciled−$2.6MOther investing$520K

From profit to cash

Sabre: net income to operating cash flow, Q3 2026Sabre: net income to operating cash flow, Q3 2026Net income−$25.5MDepreciation & amortization$27.0MStock-based pay$23.7MDeferred taxes−$217KReceivables−$30.7MPayables−$6.2MEmployee-related liabilities−$4.2MPrepaid and other assets−$5.6MOperating cash flow−$24.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202649—65-16
Q2 202648—63-15
Q1 202640—63-23
Q4 202548—75-28
Q3 202546—68-23
Q2 202548—78-30
Q1 202544—74-30
Q4 202450—84-35

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$24.6M−$22.9M$45.3M$9.4M−$47.5M
Q2 2026$36.1M−$26.4M−$104M−$32.4M$9.7M
Q1 2026−$134M−$21.2M−$93.2M$246M−$155M
Q4 2025$139M−$23.5M$138M−$227M$116M
Q3 2025$33.7M−$20.3M−$843M−$236M$13.4M
Q2 2025−$218M−$22.3M$99.9M$225M−$240M
Q1 2025−$80.6M−$16.9M$15.7M$73.3M−$97.5M
Q4 2024$75.7M−$14.7M−$6.1M−$55.7M$61.0M

Sabre: income statement and cash flow

Sabre, Q3 2026: revenue $738M (+3% year over year), operating margin 14.8%. The chart follows the revenue to costs, profit and cash.

Sabre: 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.