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Sirius XM Holdings cash flow, quarter by quarter

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

Free cash flow$291M in Q3 2026 · $1.6B over twelve months

Operating cash flow$457M
Capital spending−$166M
Free cash flow+$291M
Cash / net income1.4×

Analysis

In Q3 2026, Sirius XM Holdings generated $457M of operating cash flow and spent $166M on capital projects, leaving free cash flow of $291M. That is $36.0M more than in Q3 2025 ($255M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.1B; the largest uses were net borrowing (+) / repaid (−) ($805M), capital spending ($545M), dividends ($364M); the cash balance rose by $131M.

Operating cash flow was $457M against net income of $317M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$136M, payables −$89.0M, deferred taxes +$41.0M.

Free cash flow

Sirius XM Holdings: free cash flow by quarterSirius XM Holdings: free cash flow by quarter$514MQ4 2024$53.0MQ1 2025$401MQ2 2025$255MQ3 2025$536MQ4 2025$166MQ1 2026$592MQ2 2026$291MQ3 2026
Operating cash flow less capital spending.
Sirius XM Holdings: operating cash flow against capital spendingSirius XM Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$679M$165MQ4 2024$242M$189MQ1 2025$546M$145MQ2 2025$430M$175MQ3 2025$680M$144MQ4 2025$271M$105MQ1 2026$722M$130MQ2 2026$457M$166MQ3 2026
Latest (Q3 2026): Operating cash flow $457M, Capital spending $166M.

Capital allocation, year by year

Sirius XM Holdings: where the cash came from (up) and went (down), by fiscal yearSirius XM Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $2.0BFY2021: Net borrowing −$368MFY2021: Shares issued $10.0MFY2021: Capital spending −$388MFY2021: Acquisitions −$14.0MFY2021: Buybacks −$1.5BFY2021: Dividends −$268M$2.0BFY2021FY2022: Operating cash flow $2.0BFY2022: Net borrowing $340MFY2022: Shares issued $4.0MFY2022: Asset sales $15.0MFY2022: Capital spending −$426MFY2022: Acquisitions −$136MFY2022: Buybacks −$647MFY2022: Dividends −$249M$2.3BFY2022FY2023: Operating cash flow $1.8BFY2023: Net borrowing −$1.1BFY2023: Shares issued $4.0MFY2023: Capital spending −$650MFY2023: Buybacks −$274MFY2023: Dividends −$65.0M$1.8BFY2023FY2024: Operating cash flow $1.7BFY2024: Net borrowing −$709MFY2024: Capital spending −$728MFY2024: Buybacks −$6.0MFY2024: Dividends −$143M$1.7BFY2024FY2025: Operating cash flow $1.9BFY2025: Net borrowing −$679MFY2025: Capital spending −$653MFY2025: Buybacks −$136MFY2025: Dividends −$365M$1.9BFY2025
Over these 5 years operating cash flow totalled $9.4B; the largest uses were net borrowing ($2.9B) and capital spending ($2.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$210M
Debt$9.3B
Net debt$9.1B
Due within a year$1.2B

Sirius XM Holdings funds itself: free cash flow was $1.6B over the last twelve months, and $210M of cash and investments stands against $9.3B of debt ($1.2B due within a year, 0.2× covered by cash).

Where the cash came from and went

Sirius XM Holdings: sources (+) and uses (−) of cash, Q3 2026Sirius XM Holdings: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$457MCapital spending−$166MNet borrowing (+) / repaid (−)−$102MDividends−$91.0MCash drawn (+) / kept (−)−$36.0MBuybacks−$33.0MOther investing−$18.0MTaxes on employees’ shares−$11.0M
Sirius XM Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Sirius XM Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.1BNet borrowing (+) / repaid (−)−$805MCapital spending−$545MDividends−$364MCash drawn (+) / kept (−)−$131MOther investing−$123MBuybacks−$106MTaxes on employees’ shares−$56.0M

From profit to cash

Sirius XM Holdings: net income to operating cash flow, Q3 2026Sirius XM Holdings: net income to operating cash flow, Q3 2026Net income$317MDepreciation & amortization$136MStock-based pay$38.0MDeferred taxes$41.0MGains on investments−$41.0MOther non-cash$12.0MPayables−$89.0MDeferred revenue−$30.0MOperating cash flow$457M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$457M−$166M−$33.0M−$91.0M−$102M−$36.0M$291M
Q2 2026$722M−$130M−$6.0M−$91.0M−$361M−$99.0M$592M
Q1 2026$271M−$105M−$22.0M−$91.0M$22.0M$19.0M$166M
Q4 2025$680M−$144M−$45.0M−$91.0M−$364M−$15.0M$536M
Q3 2025$430M−$175M−$21.0M−$91.0M−$123M$13.0M$255M
Q2 2025$546M−$145M−$45.0M−$92.0M−$276M$35.0M$401M
Q1 2025$242M−$189M−$25.0M−$91.0M$84.0M$35.0M$53.0M
Q4 2024$679M−$165M−$6.0M−$92.0M−$363M−$35.0M$514M

Sirius XM Holdings: income statement and cash flow

Sirius XM Holdings, Q3 2026: revenue $2.2B (-0.3% year over year), operating margin 22.2%. The chart follows the revenue to costs, profit and cash.

Sirius XM Holdings: 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.