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SL Green Realty cash flow, quarter by quarter

Latest: Q1 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$17.6M in Q1 2026 · $58.6M over twelve months

Operating cash flow−$17.6M
Free cash flow−$17.6M

Analysis

In Q1 2026, SL Green Realty generated −$17.6M of operating cash flow. That is $24.3M less than in Q1 2025 ($6.7M).

Over the twelve months to Mar 31, 2026, operating cash flow was $58.6M; the largest uses were real estate bought ($823M), dividends ($185M), other investing ($23.6M); besides operations, cash came from other financing ($477M), partners ($276M); the cash balance rose by $1.6M.

Operating cash flow was −$17.6M against net income of −$77.4M. The largest differences: depreciation & amortization +$69.8M, prepaid and other assets −$37.0M, other non-cash +$13.6M.

Free cash flow

SL Green Realty: free cash flow by quarterSL Green Realty: free cash flow by quarter$79.4MQ2 2024$16.7MQ3 2024$58.2MQ4 2024$6.7MQ1 2025$54.5MQ2 2025−$6.8MQ3 2025$28.5MQ4 2025−$17.6MQ1 2026
Operating cash flow less capital spending.
SL Green Realty: operating cash flow against capital spendingSL Green Realty: operating cash flow against capital spendingOperating cash flowCapital spending$79.4M$0Q2 2024$16.7M$0Q3 2024$58.2M$0Q4 2024$6.7M$0Q1 2025$54.5M$0Q2 2025−$6.8M$0Q3 2025$28.5M$0Q4 2025−$17.6M$0Q1 2026
Latest (Q1 2026): Operating cash flow −$17.6M, Capital spending $0.

Capital allocation, year by year

SL Green Realty: where the cash came from (up) and went (down), by fiscal yearSL Green Realty: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2021: Operating cash flow $256MFY2021: Net borrowing −$320MFY2021: Shares issued $1.6MFY2021: Buybacks −$341MFY2021: Dividends −$271M$258MFY2021FY2022: Operating cash flow $276MFY2022: Net borrowing −$340MFY2022: Shares issued $525KFY2022: Buybacks −$151MFY2022: Dividends −$262M$277MFY2022FY2023: Operating cash flow $230MFY2023: Net borrowing −$290MFY2023: Shares issued $525KFY2023: Dividends −$231M$230MFY2023FY2024: Operating cash flow $130MFY2024: Net borrowing −$340MFY2024: Shares issued $439MFY2024: Dividends −$219M$569MFY2024FY2025: Operating cash flow $82.9MFY2025: Net borrowing $220MFY2025: Shares issued −$843KFY2025: Dividends −$243M$303MFY2025
Over these 5 years operating cash flow totalled $974M; the largest uses were net borrowing ($1.3B) and dividends ($1.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$144M
Debtnone
Net cash$144M
Due within a year$655M
Cash runway2.0 years

SL Green Realty is burning cash: its operations consume cash, a free cash flow of −$70.4M a year at the current rate against $144M of cash and investments: a runway of about 2.0 years; $655M of debt also comes due within a year, which would need refinancing or new money before any new financing.

SL Green Realty: debt maturities by year (FY2025)SL Green Realty: debt maturities by year (FY2025)$655MYear 1$2.6BYear 2$285MYear 3$177MYear 4$359MAfter year 5
Principal due in each year as disclosed in the annual report, against $144M of cash and investments now.

Where the cash came from and went

SL Green Realty: sources (+) and uses (−) of cash, Q1 2026SL Green Realty: sources (+) and uses (−) of cash, Q1 2026Real estate bought−$664MOther financing$454MNet borrowing (+) / repaid (−)$185MPartners$81.7MOther investing−$28.3MOperating cash flow−$17.6MTaxes on employees’ shares−$6.3MDividends−$2.8MCash drawn (+) / kept (−)−$2.1MShares issued$62K
SL Green Realty: sources (+) and uses (−) of cash, TTM to Q1 2026SL Green Realty: sources (+) and uses (−) of cash, TTM to Q1 2026Real estate bought−$823MOther financing$477MPartners$276MNet borrowing (+) / repaid (−)$235MDividends−$185MOperating cash flow$58.6MOther investing−$23.6MTaxes on employees’ shares−$13.3MCash drawn (+) / kept (−)−$1.6MShares issued$15K

From profit to cash

SL Green Realty: net income to operating cash flow, Q1 2026SL Green Realty: net income to operating cash flow, Q1 2026Net income−$77.4MDepreciation & amortization$69.8MOther non-cash$13.6MReceivables−$12.0MPrepaid and other assets−$37.0MOperating cash flow−$17.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 2026−$17.6M−$2.8M$185M$62K−$2.1M−$17.6M
Q4 2025$28.5M−$61.7M$150M−$161K$20.5M$28.5M
Q3 2025−$6.8M−$60.6M$16.6M$58K−$14.2M−$6.8M
Q2 2025$54.5M−$60.2M−$130M$56K−$5.8M$54.5M
Q1 2025$6.7M−$60.2M$170M−$796K−$5.4M$6.7M
Q4 2024$58.2M−$56.0M−$515M$425M−$16.5M$58.2M
Q3 2024$16.7M−$54.3M$195M$14.2M$686K$16.7M
Q2 2024$79.4M−$54.3M−$110M$43K$2.7M$79.4M

SL Green Realty: income statement and cash flow

SL Green Realty, Q3 2026: revenue $273M (+12% year over year), operating margin 32.8%. The chart follows the revenue to costs, profit and cash.

SL Green Realty: 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.