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Stag Industrial cash flow, quarter by quarter

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

Free cash flow$106M in Q3 2026 · $306M over twelve months

Operating cash flow$147M
Capital spending−$41.5M
Free cash flow+$106M
Cash / net income2.0×

Analysis

In Q3 2026, Stag Industrial generated $147M of operating cash flow and spent $41.5M on capital projects, leaving free cash flow of $106M. That is $10.5M more than in Q3 2025 ($95.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $480M; the largest uses were net borrowing (+) / repaid (−) ($1.4B), real estate bought ($672M), dividends ($247M); besides operations, cash came from other financing ($1.9B), other investing ($91.3M); the cash balance fell by $5.5M.

Operating cash flow was $147M against net income of $72.2M — 2.0× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$80.5M, payables +$32.9M, gains on disposals −$24.2M.

Free cash flow

Stag Industrial: free cash flow by quarterStag Industrial: free cash flow by quarter$37.6MQ4 2024$57.2MQ1 2025$62.3MQ2 2025$95.5MQ3 2025$43.8MQ4 2025$76.1MQ1 2026$80.1MQ2 2026$106MQ3 2026
Operating cash flow less capital spending.
Stag Industrial: operating cash flow against capital spendingStag Industrial: operating cash flow against capital spendingOperating cash flowCapital spending$105M$67.4MQ4 2024$104M$46.3MQ1 2025$112M$49.6MQ2 2025$144M$48.0MQ3 2025$104M$60.6MQ4 2025$117M$41.3MQ1 2026$111M$30.8MQ2 2026$147M$41.5MQ3 2026
Latest (Q3 2026): Operating cash flow $147M, Capital spending $41.5M.

Capital allocation, year by year

Stag Industrial: where the cash came from (up) and went (down), by fiscal yearStag Industrial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY2021: Operating cash flow $336MFY2021: Net borrowing −$2.5BFY2021: Shares issued $707MFY2021: Capital spending −$39.5MFY2021: Dividends −$246M$1.0BFY2021FY2022: Operating cash flow $388MFY2022: Net borrowing −$1.4BFY2022: Shares issued $54.8MFY2022: Capital spending −$112MFY2022: Dividends −$267M$443MFY2022FY2023: Operating cash flow $391MFY2023: Net borrowing −$1.0BFY2023: Shares issued $69.5MFY2023: Capital spending −$108MFY2023: Dividends −$268M$461MFY2023FY2024: Operating cash flow $460MFY2024: Net borrowing −$2.0BFY2024: Shares issued $167MFY2024: Capital spending −$150MFY2024: Dividends −$275M$628MFY2024FY2025: Operating cash flow $463MFY2025: Net borrowing −$1.7BFY2025: Shares issued $157MFY2025: Capital spending −$205MFY2025: Dividends −$284M$620MFY2025
Over these 5 years operating cash flow totalled $2.0B; the largest uses were net borrowing ($8.7B) and dividends ($1.3B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$12.2M
Debt$3.4B
Net debt$3.4B
Due within a year$130M

Stag Industrial funds itself: free cash flow was $306M over the last twelve months, and $12.2M of cash and investments stands against $3.4B of debt ($130M due within a year, 0.1× covered by cash).

Stag Industrial: debt maturities by year (FY2025)Stag Industrial: debt maturities by year (FY2025)$130MYear 1$370MYear 2$737MYear 3$175MYear 4$650MYear 5$1.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $12.2M of cash and investments now.

Where the cash came from and went

Stag Industrial: sources (+) and uses (−) of cash, Q3 2026Stag Industrial: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)−$208MOther financing$170MOperating cash flow$147MReal estate bought−$89.9MDividends−$76.3MCash drawn (+) / kept (−)$53.7MOther investing$44.9MCapital spending−$41.5M
Stag Industrial: sources (+) and uses (−) of cash, TTM to Q3 2026Stag Industrial: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$1.9BNet borrowing (+) / repaid (−)−$1.4BReal estate bought−$672MOperating cash flow$480MDividends−$247MCapital spending−$174MOther investing$91.3MCash drawn (+) / kept (−)$5.5MTaxes on employees’ shares−$644KPartners$337K

From profit to cash

Stag Industrial: net income to operating cash flow, Q3 2026Stag Industrial: net income to operating cash flow, Q3 2026Net income$72.2MDepreciation & amortization$80.5MStock-based pay$4.1MGains on disposals−$24.2MReceivables$495KPayables$32.9MPrepaid and other assets−$14.3MOperating cash flow$147M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$147M−$41.5M−$76.3M−$208M$53.7M$106M
Q2 2026$111M−$30.8M−$75.8M−$560M−$27.4M$80.1M
Q1 2026$117M−$41.3M−$24.3M−$230M$61.7M$76.1M
Q4 2025$104M−$60.6M−$71.0M−$369M−$82.5M$43.8M
Q3 2025$144M−$48.0M−$71.0M−$107M$17.4M$95.5M
Q2 2025$112M−$49.6M−$71.0M−$679M$12.2M$62.3M
Q1 2025$104M−$46.3M−$71.0M−$386M−$10.7M$57.2M
Q4 2024$105M−$67.4M−$68.8M−$780M$33.8M$37.6M

Stag Industrial: income statement and cash flow

Stag Industrial, Q3 2026: revenue $231M (+9% year over year), operating margin 38.4%. The chart follows the revenue to costs, profit and cash.

Stag Industrial: 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.