Filing Flows

Filing Flows › Companies › Stepan › Cash flow

Stepan cash flow, quarter by quarter

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

Free cash flow$8.2M in Q3 2026 · $4.6M over twelve months

Operating cash flow$29.3M
Capital spending−$21.2M
Free cash flow+$8.2M
Cash / net income1.6×
Cash conversion cycle68 days

Analysis

In Q3 2026, Stepan generated $29.3M of operating cash flow and spent $21.2M on capital projects, leaving free cash flow of $8.2M. That is $32.0M less than in Q3 2025 ($40.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $115M; the largest uses were capital spending ($110M), dividends ($35.9M), other financing ($24.9M); besides operations, cash came from other investing ($34.6M), shares issued ($294K); the cash balance fell by $20.4M.

Operating cash flow was $29.3M against net income of $17.8M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$31.3M, inventory −$16.7M, receivables −$13.7M.

Its cash conversion cycle was 68 days (receivables 66 + inventory 51 − payables 48).

Free cash flow

Stepan: free cash flow by quarterStepan: free cash flow by quarter$32.1MQ4 2024−$25.8MQ1 2025−$14.4MQ2 2025$40.2MQ3 2025$25.4MQ4 2025−$14.0MQ1 2026−$15.0MQ2 2026$8.2MQ3 2026
Operating cash flow less capital spending.
Stepan: operating cash flow against capital spendingStepan: operating cash flow against capital spendingOperating cash flowCapital spending$68.3M$36.2MQ4 2024$6.9M$32.7MQ1 2025$11.2M$25.6MQ2 2025$69.8M$29.6MQ3 2025$60.0M$34.6MQ4 2025$16.9M$30.9MQ1 2026$8.4M$23.4MQ2 2026$29.3M$21.2MQ3 2026
Latest (Q3 2026): Operating cash flow $29.3M, Capital spending $21.2M.

Capital allocation, year by year

Stepan: where the cash came from (up) and went (down), by fiscal yearStepan: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $72.1MFY2021: Net borrowing −$32.1MFY2021: Shares issued $1.4MFY2021: Asset sales $4.1MFY2021: Capital spending −$194MFY2021: Acquisitions −$184MFY2021: Buybacks −$17.0MFY2021: Dividends −$28.1M$77.7MFY2021FY2022: Operating cash flow $161MFY2022: Net borrowing $149MFY2022: Shares issued $782KFY2022: Capital spending −$302MFY2022: Acquisitions −$9.7MFY2022: Buybacks −$24.9MFY2022: Dividends −$30.6M$310MFY2022FY2023: Operating cash flow $175MFY2023: Net borrowing $66.9MFY2023: Shares issued $2.8MFY2023: Capital spending −$260MFY2023: Dividends −$32.9M$245MFY2023FY2024: Operating cash flow $162MFY2024: Net borrowing −$28.7MFY2024: Shares issued $1.1MFY2024: Capital spending −$123MFY2024: Dividends −$34.0M$163MFY2024FY2025: Operating cash flow $148MFY2025: Net borrowing −$10.9MFY2025: Shares issued $104KFY2025: Asset sales $26.6MFY2025: Capital spending −$123MFY2025: Dividends −$35.0M$175MFY2025
Over these 5 years operating cash flow totalled $718M; the largest uses were capital spending ($1.0B) and acquisitions ($194M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$98.1M
Debt$634M
Net debt$536M
Due within a year$286M

Stepan funds itself: free cash flow was $4.6M over the last twelve months, and $98.1M of cash and investments stands against $634M of debt ($286M due within a year, 0.3× covered by cash).

Stepan: debt maturities by year (FY2025)Stepan: debt maturities by year (FY2025)$286MYear 1$136MYear 2$45.0MYear 3$40.0MYear 4$40.0MYear 5$80.7MAfter year 5
Principal due in each year as disclosed in the annual report, against $98.1M of cash and investments now.

Where the cash came from and went

Stepan: sources (+) and uses (−) of cash, Q3 2026Stepan: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$29.3MCapital spending−$21.2MCash drawn (+) / kept (−)$15.6MOther financing−$15.0MDividends−$9.0MExchange rates$173K
Stepan: sources (+) and uses (−) of cash, TTM to Q3 2026Stepan: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$115MCapital spending−$110MDividends−$35.9MOther investing$34.6MOther financing−$24.9MCash drawn (+) / kept (−)$20.4MExchange rates$899KShares issued$294K

From profit to cash

Stepan: net income to operating cash flow, Q3 2026Stepan: net income to operating cash flow, Q3 2026Net income$17.8MDepreciation & amortization$31.3MStock-based pay$2.2MDeferred taxes−$3.4MGains on investments$94KOther non-cash$811KReceivables−$13.7MInventory−$16.7MPayables$6.5MDeferred revenue−$522KPrepaid and other assets$2.2MOperating cash flow$29.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202666514868
Q2 202662484762
Q1 202661494665
Q4 202568575075
Q3 202568585176
Q2 202567565072
Q1 202563524866
Q4 202472575179

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$29.3M−$21.2M−$9.0M——$15.6M$8.2M
Q2 2026$8.4M−$23.4M−$9.0M$5.6M—$27.1M−$15.0M
Q1 2026$16.9M−$30.9M−$9.0M$35.7M$294K−$8.1M−$14.0M
Q4 2025$60.0M−$34.6M−$8.9M−$14.5M—−$14.2M$25.4M
Q3 2025$69.8M−$29.6M−$8.7M$21.8M—−$29.6M$40.2M
Q2 2025$11.2M−$25.6M−$8.7M−$52.0M$22K$18.6M−$14.4M
Q1 2025$6.9M−$32.7M−$8.7M$33.8M$82K−$7.8M−$25.8M
Q4 2024$68.3M−$36.2M−$8.7M−$63.1M$89K$47.6M$32.1M

Stepan: income statement and cash flow

Stepan, Q3 2026: revenue $692M (+17% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

Stepan: 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.