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Summit Midstream cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$18.9M in Q2 2026 · $44.8M over twelve months

Operating cash flow$43.9M
Capital spending−$25.0M
Free cash flow+$18.9M
Cash / net income9.6×
Cash conversion cycle2 days

Analysis

In Q2 2026, Summit Midstream generated $43.9M of operating cash flow and spent $25.0M on capital projects, leaving free cash flow of $18.9M. That is $8.1M more than in Q2 2025 ($10.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was $131M; the largest uses were capital spending ($86.3M), net borrowing (+) / repaid (−) ($61.0M), other investing ($7.5M); besides operations, cash came from other financing ($30.0M); the cash balance rose by $6.3M.

Operating cash flow was $43.9M against net income of $4.6M — 9.6× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$26.9M, receivables −$13.0M, payables −$9.3M.

Its cash conversion cycle was 2 days (receivables 47 + inventory 0 − payables 45).

Free cash flow

Summit Midstream: free cash flow by quarterSummit Midstream: free cash flow by quarter−$1.8MQ3 2024$5.9MQ4 2024−$4.6MQ1 2025$10.8MQ2 2025$3.8MQ3 2025$34.5MQ4 2025−$12.4MQ1 2026$18.9MQ2 2026
Operating cash flow less capital spending.
Summit Midstream: operating cash flow against capital spendingSummit Midstream: operating cash flow against capital spendingOperating cash flowCapital spending$9.2M$10.9MQ3 2024$21.6M$15.8MQ4 2024$16.0M$20.6MQ1 2025$37.2M$26.4MQ2 2025$26.7M$22.9MQ3 2025$53.7M$19.1MQ4 2025$6.9M$19.3MQ1 2026$43.9M$25.0MQ2 2026
Latest (Q2 2026): Operating cash flow $43.9M, Capital spending $25.0M.

Capital allocation, year by year

Summit Midstream: where the cash came from (up) and went (down), by fiscal yearSummit Midstream: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsFY2023: Operating cash flow $127MFY2023: Net borrowing −$17.6MFY2023: Asset sales $260KFY2023: Capital spending −$68.9M$127MFY2023FY2024: Operating cash flow $61.8MFY2024: Net borrowing −$9.1MFY2024: Asset sales $297MFY2024: Capital spending −$53.6MFY2024: Acquisitions −$154M$358MFY2024FY2025: Operating cash flow $134MFY2025: Net borrowing −$193MFY2025: Capital spending −$89.0M$134MFY2025
Over these 3 years operating cash flow totalled $322M; the largest uses were net borrowing ($220M) and capital spending ($212M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$21.0M
Debt$1.2B
Net debt$1.2B
Due within a year$21.2M

Summit Midstream funds itself: free cash flow was $44.8M over the last twelve months, and $21.0M of cash and investments stands against $1.2B of debt ($21.2M due within a year, 1.0× covered by cash).

Summit Midstream: debt maturities by year (FY2025)Summit Midstream: debt maturities by year (FY2025)$21.2MYear 1$17.8MYear 2$78.0MYear 3$938MYear 4
Principal due in each year as disclosed in the annual report, against $21.0M of cash and investments now.

Where the cash came from and went

Summit Midstream: sources (+) and uses (−) of cash, Q2 2026Summit Midstream: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$43.9MNet borrowing (+) / repaid (−)−$37.0MCapital spending−$25.0MCash drawn (+) / kept (−)$17.8MOther financing$6.7MOther investing−$6.4M
Summit Midstream: sources (+) and uses (−) of cash, TTM to Q2 2026Summit Midstream: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$131MCapital spending−$86.3MNet borrowing (+) / repaid (−)−$61.0MOther financing$30.0MOther investing−$7.5MCash drawn (+) / kept (−)−$6.3M

From profit to cash

Summit Midstream: net income to operating cash flow, Q2 2026Summit Midstream: net income to operating cash flow, Q2 2026Net income$4.6MDepreciation & amortization$26.9MStock-based pay$2.3MDeferred taxes$1.1MGains on disposals−$26KReceivables−$13.0MPayables−$9.3MAccrued liabilities$7.0MDeferred revenue−$899KOther operating capital$2.0MOperating cash flow$43.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 202647—452
Q1 202647—68-21
Q4 202548—79-30
Q3 202552—81-29
Q2 202555—80-25
Q1 202555—73-18
Q4 202459—65-6

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$43.9M−$25.0M—−$37.0M$17.8M$18.9M
Q1 2026$6.9M−$19.3M—$3.0M−$29.8M−$12.4M
Q4 2025$53.7M−$19.1M—−$37.0M$8.8M$34.5M
Q3 2025$26.7M−$22.9M——−$2.9M$3.8M
Q2 2025$37.2M−$26.4M—−$5.0M$4.1M$10.8M
Q1 2025$16.0M−$20.6M−$70.0M−$160M−$4.4M−$4.6M
Q4 2024$21.6M−$15.8M−$154M$155M$119M$5.9M
Q3 2024$9.2M−$10.9M—$150M$15.8M−$1.8M

Summit Midstream: income statement and cash flow

Summit Midstream, Q2 2026: revenue $155M (+11% year over year), operating margin 16.1%. The chart follows the revenue to costs, profit and cash.

Summit Midstream: 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.