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StubHub Holdings cash flow, quarter by quarter

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

Free cash flow$321M in Q2 2026 · $634M over twelve months

Operating cash flow$322M
Capital spending−$416K
Free cash flow+$321M
Cash / net income22.0×
Cash conversion cycle-43 days

Analysis

In Q2 2026, StubHub Holdings generated $322M of operating cash flow and spent $416K on capital projects, leaving free cash flow of $321M. That is $302M more than in Q2 2025 ($19.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was $635M; the largest uses were taxes on employees’ shares ($123M), other investing ($36.4M), other financing ($12.1M); the cash balance rose by $460M.

Operating cash flow was $322M against net income of $14.6M — 22.0× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue +$199M, stock-based pay +$69.0M, accrued liabilities +$44.4M.

Its cash conversion cycle was -43 days (receivables 2 + inventory 6 − payables 51): suppliers fund its working capital.

Free cash flow

StubHub Holdings: free cash flow by quarterStubHub Holdings: free cash flow by quarter−$150MQ4 2024$158MQ1 2025$19.0MQ2 2025$3.4MQ3 2025$10.9MQ4 2025$298MQ1 2026$321MQ2 2026
Operating cash flow less capital spending.
StubHub Holdings: operating cash flow against capital spendingStubHub Holdings: operating cash flow against capital spendingOperating cash flowCapital spending−$149M$340KQ4 2024$158M$507KQ1 2025$19.3M$291KQ2 2025$3.8M$372KQ3 2025$11.1M$223KQ4 2025$298M$169KQ1 2026$322M$416KQ2 2026
Latest (Q2 2026): Operating cash flow $322M, Capital spending $416K.

Capital allocation, year by year

StubHub Holdings: where the cash came from (up) and went (down), by fiscal yearStubHub Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingBuybacksFY2023: Operating cash flow $307MFY2023: Capital spending −$1.7MFY2023: Buybacks −$1.1M$307MFY2023FY2024: Operating cash flow $261MFY2024: Capital spending −$1.7M$261MFY2024FY2025: Operating cash flow $193MFY2025: Shares issued $758MFY2025: Capital spending −$1.4MFY2025: Buybacks −$1.0M$951MFY2025
Over these 3 years operating cash flow totalled $761M; the largest uses were capital spending ($4.8M) and buybacks ($2.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.7B
Debt$1.4B
Net cash$297M

StubHub Holdings funds itself: free cash flow was $634M over the last twelve months, and $1.7B of cash and investments stands against $1.4B of debt.

Where the cash came from and went

StubHub Holdings: sources (+) and uses (−) of cash, Q2 2026StubHub Holdings: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$322MCash drawn (+) / kept (−)−$175MNet borrowing (+) / repaid (−)−$100MTaxes on employees’ shares−$33.6MOther investing−$11.8MExchange rates−$767KCapital spending−$416KOther financing−$242K
StubHub Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026StubHub Holdings: sources (+) and uses (−) of cash, TTM to Q2 2026Operating cash flow$635MCash drawn (+) / kept (−)−$460MTaxes on employees’ shares−$123MOther investing−$36.4MOther financing−$12.1MExchange rates−$3.3MCapital spending−$1.2MBuybacks−$5K

From profit to cash

StubHub Holdings: net income to operating cash flow, Q2 2026StubHub Holdings: net income to operating cash flow, Q2 2026Net income$14.6MDepreciation & amortization$9.8MStock-based pay$69.0MDeferred taxes−$4.0MOther non-cash$1.6MReceivables−$4.4MInventory$3.9MPayables−$10.9MAccrued liabilities$44.4MDeferred revenue$199MPrepaid and other assets−$22.7MOperating cash flow$322M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20262651-43
Q1 202621292-78
Q4 20251784-76

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$322M−$416K—−$100M−$175M$321M
Q1 2026$298M−$169K——−$284M$298M
Q4 2025$11.1M−$223K−$5K—$150M$10.9M
Q3 2025$3.8M−$372K—−$750M−$150M$3.4M
Q2 2025$19.3M−$291K—−$4.9M−$93.5M$19.0M
Q1 2025$158M−$507K−$1.0M−$4.9M−$150M$158M
Q4 2024−$149M−$340K——$170M−$150M

StubHub Holdings: income statement and cash flow

StubHub Holdings, Q2 2026: revenue $573M (+33% year over year), operating margin 3.4%. The chart follows the revenue to costs, profit and cash.

StubHub 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.