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Solaris Energy Infrastructure cash flow, quarter by quarter

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

Free cash flow−$335M in Q3 2026 · −$1.1B over twelve months

Operating cash flow$212M
Capital spending−$547M
Free cash flow−$335M
Cash / net income5.4×

Analysis

In Q3 2026, Solaris Energy Infrastructure generated $212M of operating cash flow and spent $547M on capital projects, leaving free cash flow of −$335M. That is $335M less than in Q3 2025 ($462K).

Over the twelve months to Sep 30, 2026, operating cash flow was $574M; the largest uses were capital spending ($1.6B), other investing ($125M), acquisitions ($104M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.2B), other financing ($557M); the cash balance rose by $391M.

Operating cash flow was $212M against net income of $39.3M — 5.4× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue −$104M, prepaid and other assets −$88.6M, depreciation & amortization +$51.5M.

Free cash flow

Solaris Energy Infrastructure: free cash flow by quarterSolaris Energy Infrastructure: free cash flow by quarter−$114MQ4 2024−$119MQ1 2025−$161MQ2 2025$462KQ3 2025−$159MQ4 2025−$264MQ1 2026−$305MQ2 2026−$335MQ3 2026
Operating cash flow less capital spending.
Solaris Energy Infrastructure: operating cash flow against capital spendingSolaris Energy Infrastructure: operating cash flow against capital spendingOperating cash flowCapital spending$13.1M$127MQ4 2024$25.7M$144MQ1 2025$24.2M$185MQ2 2025$63.3M$62.8MQ3 2025$95.9M$255MQ4 2025$79.0M$343MQ1 2026$186M$492MQ2 2026$212M$547MQ3 2026
Latest (Q3 2026): Operating cash flow $212M, Capital spending $547M.

Capital allocation, year by year

Solaris Energy Infrastructure: where the cash came from (up) and went (down), by fiscal yearSolaris Energy Infrastructure: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $16.5MFY2021: Net borrowing −$687KFY2021: Shares issued $13KFY2021: Asset sales $80KFY2021: Capital spending −$19.6MFY2021: Dividends −$13.4M$16.6MFY2021FY2022: Operating cash flow $68.0MFY2022: Net borrowing −$3.0MFY2022: Shares issued $6KFY2022: Asset sales $409KFY2022: Capital spending −$81.4MFY2022: Dividends −$13.8M$68.4MFY2022FY2023: Operating cash flow $89.4MFY2023: Net borrowing $17.8MFY2023: Asset sales $2.4MFY2023: Capital spending −$64.4MFY2023: Buybacks −$26.4MFY2023: Dividends −$14.1M$110MFY2023FY2024: Operating cash flow $59.4MFY2024: Net borrowing $289MFY2024: Shares issued $161MFY2024: Asset sales $452KFY2024: Capital spending −$188MFY2024: Acquisitions −$122MFY2024: Buybacks −$8.1MFY2024: Dividends −$14.6M$510MFY2024FY2025: Operating cash flow $209MFY2025: Net borrowing $757MFY2025: Asset sales $3.4MFY2025: Capital spending −$647MFY2025: Acquisitions −$29.2MFY2025: Dividends −$21.8M$969MFY2025
Over these 5 years operating cash flow totalled $442M; the largest uses were capital spending ($1.0B) and acquisitions ($151M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$399M
Debt$1.7B
Net debt$1.3B
Due within a year$8.1M

Solaris Energy Infrastructure's operations bring cash in ($574M over twelve months), and it spends more than that on capital projects: a gap of $1.1B funded from its $399M of cash and investments and from borrowing ($1.7B of debt, $8.1M due within a year). That is a choice to invest, not a cash runway running down.

Solaris Energy Infrastructure: debt maturities by year (FY2024)Solaris Energy Infrastructure: debt maturities by year (FY2024)$8.1MYear 1$16.3MYear 2$16.3MYear 3$16.3MYear 4$268MYear 5
Principal due in each year as disclosed in the annual report, against $399M of cash and investments now.

Where the cash came from and went

Solaris Energy Infrastructure: sources (+) and uses (−) of cash, Q3 2026Solaris Energy Infrastructure: sources (+) and uses (−) of cash, Q3 2026Capital spending−$547MCash drawn (+) / kept (−)$397MOperating cash flow$212MOther investing−$104MNet borrowing (+) / repaid (−)$52.6MDividends−$8.3MOther financing−$2.6M
Solaris Energy Infrastructure: sources (+) and uses (−) of cash, TTM to Q3 2026Solaris Energy Infrastructure: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$1.6BNet borrowing (+) / repaid (−)$1.2BOperating cash flow$574MOther financing$557MCash drawn (+) / kept (−)−$391MOther investing−$125MAcquisitions−$104MDividends−$29.2M

From profit to cash

Solaris Energy Infrastructure: net income to operating cash flow, Q3 2026Solaris Energy Infrastructure: net income to operating cash flow, Q3 2026Net income$39.3MDepreciation & amortization$51.5MStock-based pay$14.8MDeferred taxes$9.8MOther non-cash$976KInventory−$12.6MPayables$35.6MAccrued liabilities$48.0MDeferred revenue−$104MPrepaid and other assets−$88.6MOperating cash flow$212M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$212M−$547M—−$8.3M$52.6M$397M−$335M
Q2 2026$186M−$492M—−$7.5M$1.4B−$550M−$305M
Q1 2026$79.0M−$343M—−$6.9M$397M$8.9M−$264M
Q4 2025$95.9M−$255M$223K−$6.4M−$209M−$247M−$159M
Q3 2025$63.3M−$62.8M—−$5.8M−$4.1M$32.3M$462K
Q2 2025$24.2M−$185M—−$4.9M$71.1M−$122M−$161M
Q1 2025$25.7M−$144M—−$4.7M−$1.4M$143M−$119M
Q4 2024$13.1M−$127M—−$3.7M−$1.8M−$43.3M−$114M

Solaris Energy Infrastructure: income statement and cash flow

Solaris Energy Infrastructure, Q3 2026: revenue $341M (+104% year over year), operating margin 19.6%. The chart follows the revenue to costs, profit and cash.

Solaris Energy Infrastructure: 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.