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Saia cash flow, quarter by quarter

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

Free cash flow$111M in Q3 2026 · $279M over twelve months

Operating cash flow$190M
Capital spending−$78.4M
Free cash flow+$111M
Cash / net income2.1×

Analysis

In Q3 2026, Saia generated $190M of operating cash flow and spent $78.4M on capital projects, leaving free cash flow of $111M. That is $23.6M more than in Q3 2025 ($87.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $618M; the largest uses were capital spending ($339M), net borrowing (+) / repaid (−) ($119M), taxes on employees’ shares ($6.6M); besides operations, cash came from other investing ($7.9M), asset & business sales ($5.3M); the cash balance rose by $167M.

Operating cash flow was $190M against net income of $91.4M — 2.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$64.1M, other operating capital +$20.5M, receivables −$16.6M.

Free cash flow

Saia: free cash flow by quarterSaia: free cash flow by quarter−$3.5MQ4 2024−$93.8MQ1 2025−$3.9MQ2 2025$87.6MQ3 2025$37.5MQ4 2025$73.5MQ1 2026$56.6MQ2 2026$111MQ3 2026
Operating cash flow less capital spending.
Saia: operating cash flow against capital spendingSaia: operating cash flow against capital spendingOperating cash flowCapital spending$165M$168MQ4 2024$109M$203MQ1 2025$171M$175MQ2 2025$178M$90.3MQ3 2025$137M$99.8MQ4 2025$140M$66.1MQ1 2026$152M$94.9MQ2 2026$190M$78.4MQ3 2026
Latest (Q3 2026): Operating cash flow $190M, Capital spending $78.4M.

Capital allocation, year by year

Saia: where the cash came from (up) and went (down), by fiscal yearSaia: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY2021: Operating cash flow $383MFY2021: Net borrowing −$20.6MFY2021: Shares issued $3.7MFY2021: Asset sales $8.4MFY2021: Capital spending −$286M$395MFY2021FY2022: Operating cash flow $473MFY2022: Net borrowing −$19.5MFY2022: Shares issued $4.5MFY2022: Asset sales $1.9MFY2022: Capital spending −$367M$479MFY2022FY2023: Operating cash flow $578MFY2023: Net borrowing −$14.5MFY2023: Shares issued $4.9MFY2023: Asset sales $2.7MFY2023: Capital spending −$440M$586MFY2023FY2024: Operating cash flow $584MFY2024: Net borrowing $83.8MFY2024: Shares issued $2.6MFY2024: Asset sales $2.7MFY2024: Capital spending −$1.0B$673MFY2024FY2025: Operating cash flow $595MFY2025: Net borrowing −$36.3MFY2025: Shares issued $2.8MFY2025: Asset sales $23.5MFY2025: Capital spending −$568M$621MFY2025
Over these 5 years operating cash flow totalled $2.6B; the largest uses were capital spending ($2.7B) and net borrowing ($90.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$203M
Debt$100M
Net cash$103M

Saia funds itself: free cash flow was $279M over the last twelve months, and $203M of cash and investments stands against $100M of debt.

Where the cash came from and went

Saia: sources (+) and uses (−) of cash, Q3 2026Saia: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$190MCash drawn (+) / kept (−)−$119MCapital spending−$78.4MOther investing$7.9MTaxes on employees’ shares−$969KAsset & business sales$517KNet borrowing (+) / repaid (−)−$124K
Saia: sources (+) and uses (−) of cash, TTM to Q3 2026Saia: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$618MCapital spending−$339MCash drawn (+) / kept (−)−$167MNet borrowing (+) / repaid (−)−$119MOther investing$7.9MTaxes on employees’ shares−$6.6MAsset & business sales$5.3MShares issued$740K

From profit to cash

Saia: net income to operating cash flow, Q3 2026Saia: net income to operating cash flow, Q3 2026Net income$91.4MDepreciation & amortization$64.1MDeferred taxes$7.6MGains on disposals$1.5MOther non-cash$9.4MReceivables−$16.6MPayables$13.1MOther operating capital$20.5MOperating cash flow$190M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$190M−$78.4M−$124K—−$119M$111M
Q2 2026$152M−$94.9M−$12.6M$198K−$44.8M$56.6M
Q1 2026$140M−$66.1M−$51.2M$229K−$19.5M$73.5M
Q4 2025$137M−$99.8M−$55.2M$313K$15.8M$37.5M
Q3 2025$178M−$90.3M−$89.9M—−$16.7M$87.6M
Q2 2025$171M−$175M$13.6M—−$2.3M−$3.9M
Q1 2025$109M−$203M$95.2M$2.5M$2.9M−$93.8M
Q4 2024$165M−$168M$9.3M$541K−$5.1M−$3.5M

Saia: income statement and cash flow

Saia, Q3 2026: revenue $982M (+17% year over year), operating margin 12.4%. The chart follows the revenue to costs, profit and cash.

Saia: 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.