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Smithfield Foods cash flow, quarter by quarter

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

Free cash flow$45.0M in Q3 2026

Operating cash flow$161M
Capital spending−$116M
Free cash flow+$45.0M
Cash / net income1.8×
Cash conversion cycle82 days

Analysis

In Q3 2026, Smithfield Foods generated $161M of operating cash flow and spent $116M on capital projects, leaving free cash flow of $45.0M.

Operating cash flow was $161M against net income of $91.0M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$86.0M, other operating capital −$10.0M, gains on disposals −$7.0M.

Its cash conversion cycle was 82 days (receivables 27 + inventory 72 − payables 16).

Free cash flow

Smithfield Foods: free cash flow by quarterSmithfield Foods: free cash flow by quarter$601MQ4 2024−$245MQ1 2025$196MQ2 2025−$75.0MQ3 2025$843MQ4 2025−$153MQ1 2026$192MQ2 2026$45.0MQ3 2026
Operating cash flow less capital spending.
Smithfield Foods: operating cash flow against capital spendingSmithfield Foods: operating cash flow against capital spendingOperating cash flowCapital spending$683M$82.0MQ4 2024−$166M$79.0MQ1 2025$274M$78.0MQ2 2025$13.0M$88.0MQ3 2025$938M$95.0MQ4 2025−$65.0M$88.0MQ1 2026$269M$77.0MQ2 2026$161M$116MQ3 2026
Latest (Q3 2026): Operating cash flow $161M, Capital spending $116M.

Capital allocation, year by year

Smithfield Foods: where the cash came from (up) and went (down), by fiscal yearSmithfield Foods: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2022: Operating cash flow $521MFY2022: Net borrowing −$16.0MFY2022: Asset sales $614MFY2022: Capital spending −$338MFY2022: Dividends −$496M$1.1BFY2022FY2023: Operating cash flow $688MFY2023: Net borrowing −$11.0MFY2023: Asset sales $232MFY2023: Capital spending −$353MFY2023: Dividends −$323M$920MFY2023FY2024: Operating cash flow $916MFY2024: Net borrowing −$11.0MFY2024: Asset sales $99.0MFY2024: Capital spending −$350MFY2024: Dividends −$288M$1.0BFY2024FY2025: Operating cash flow $1.1BFY2025: Net borrowing −$3.0MFY2025: Shares issued $236MFY2025: Asset sales $14.0MFY2025: Capital spending −$341MFY2025: Dividends −$396M$1.3BFY2025
Over these 4 years operating cash flow totalled $3.2B; the largest uses were dividends ($1.5B) and capital spending ($1.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.2B
Debt$2.0B
Net debt$808M
Due within a year$602M

Smithfield Foods funds itself: free cash flow was — over the last twelve months, and $1.2B of cash and investments stands against $2.0B of debt ($602M due within a year, 2.0× covered by cash).

Smithfield Foods: debt maturities by year (FY2025)Smithfield Foods: debt maturities by year (FY2025)$600MYear 2$400MYear 4$500MYear 5
Principal due in each year as disclosed in the annual report, against $1.2B of cash and investments now.

Where the cash came from and went

Smithfield Foods: sources (+) and uses (−) of cash, Q3 2026Smithfield Foods: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$173MOperating cash flow$161MDividends−$138MCapital spending−$116MOther investing−$76.0MExchange rates−$2.0MOther financing−$2.0M

From profit to cash

Smithfield Foods: net income to operating cash flow, Q3 2026Smithfield Foods: net income to operating cash flow, Q3 2026Net income$91.0MDepreciation & amortization$86.0MGains on disposals−$7.0MOther operating capital−$10.0MOperating cash flow$161M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202627721682
Q2 202626671379
Q1 202625651971
Q4 202522601864
Q3 202522661474
Q2 202518651271
Q1 202516671766

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$161M−$116M−$138M——$173M$45.0M
Q2 2026$269M−$77.0M———$35.0M$192M
Q1 2026−$65.0M−$88.0M———$154M−$153M
Q4 2025$938M−$95.0M−$99.0M——−$767M$843M
Q3 2025$13.0M−$88.0M−$100M——$155M−$75.0M
Q2 2025$274M−$78.0M−$197M———$196M
Q1 2025−$166M−$79.0M——$236M$15.0M−$245M
Q4 2024$683M−$82.0M−$18.0M−$7.0M—−$664M$601M

Smithfield Foods: income statement and cash flow

Smithfield Foods, Q3 2026: revenue $3.4B (-8% year over year), operating margin 3.7%. The chart follows the revenue to costs, profit and cash.

Smithfield Foods: 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.