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Talos Energy cash flow, quarter by quarter

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

Free cash flow$185M in Q3 2026 · $488M over twelve months

Operating cash flow$326M
Capital spending−$140M
Free cash flow+$185M

Analysis

In Q3 2026, Talos Energy generated $326M of operating cash flow and spent $140M on capital projects, leaving free cash flow of $185M. That is $157M more than in Q3 2025 ($28.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.0B; the largest uses were capital spending ($515M), acquisitions ($446M), buybacks ($77.3M); besides operations, cash came from net borrowing (+) / repaid (−) ($126M), other investing ($34.0M); the cash balance rose by $79.4M.

Operating cash flow was $326M against net income of −$81.1M. The largest differences: depreciation & amortization +$233M, receivables −$67.1M, prepaid and other assets +$59.6M.

Free cash flow

Talos Energy: free cash flow by quarterTalos Energy: free cash flow by quarter$196MQ4 2024$139MQ1 2025$204MQ2 2025$28.7MQ3 2025$81.5MQ4 2025$21.6MQ1 2026$199MQ2 2026$185MQ3 2026
Operating cash flow less capital spending.
Talos Energy: operating cash flow against capital spendingTalos Energy: operating cash flow against capital spendingOperating cash flowCapital spending$349M$154MQ4 2024$268M$129MQ1 2025$352M$147MQ2 2025$114M$85.5MQ3 2025$202M$120MQ4 2025$174M$152MQ1 2026$301M$102MQ2 2026$326M$140MQ3 2026
Latest (Q3 2026): Operating cash flow $326M, Capital spending $140M.

Capital allocation, year by year

Talos Energy: where the cash came from (up) and went (down), by fiscal yearTalos Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $411MFY2021: Net borrowing $222MFY2021: Asset sales $5.0MFY2021: Capital spending −$293MFY2021: Acquisitions −$5.4M$638MFY2021FY2022: Operating cash flow $710MFY2022: Net borrowing −$43.7MFY2022: Asset sales $1.9MFY2022: Capital spending −$323MFY2022: Acquisitions −$3.5M$712MFY2022FY2023: Operating cash flow $519MFY2023: Net borrowing −$46.3MFY2023: Asset sales $73.0MFY2023: Capital spending −$561MFY2023: Buybacks −$47.5M$592MFY2023FY2024: Operating cash flow $963MFY2024: Net borrowing $335MFY2024: Shares issued $388MFY2024: Asset sales $148MFY2024: Capital spending −$509MFY2024: Acquisitions −$936MFY2024: Buybacks −$45.2M$1.8BFY2024FY2025: Operating cash flow $936MFY2025: Net borrowing −$19.6MFY2025: Asset sales $1.7MFY2025: Capital spending −$482MFY2025: Acquisitions −$50.0MFY2025: Buybacks −$119M$938MFY2025
Over these 5 years operating cash flow totalled $3.5B; the largest uses were capital spending ($2.2B) and acquisitions ($995M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$410M
Debt$1.4B
Net debt$986M

Talos Energy funds itself: free cash flow was $488M over the last twelve months, and $410M of cash and investments stands against $1.4B of debt.

Where the cash came from and went

Talos Energy: sources (+) and uses (−) of cash, Q3 2026Talos Energy: sources (+) and uses (−) of cash, Q3 2026Acquisitions−$437MOperating cash flow$326MCash drawn (+) / kept (−)$167MCapital spending−$140MOther financing$130MBuybacks−$22.6MOther investing−$14.9MNet borrowing (+) / repaid (−)−$5.4MTaxes on employees’ shares−$1.9M
Talos Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Talos Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.0BCapital spending−$515MAcquisitions−$446MNet borrowing (+) / repaid (−)$126MCash drawn (+) / kept (−)−$79.4MBuybacks−$77.3MOther financing−$36.6MOther investing$34.0MTaxes on employees’ shares−$7.9M

From profit to cash

Talos Energy: net income to operating cash flow, Q3 2026Talos Energy: net income to operating cash flow, Q3 2026Net income−$81.1MDepreciation & amortization$233MStock-based pay$6.4MGains on disposals$253KReceivables−$67.1MPayables$12.9MPrepaid and other assets$59.6MOther liabilities$3.4MOperating cash flow$326M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$326M−$140M−$437M−$22.6M−$5.4M$167M$185M
Q2 2026$301M−$102M−$3.1M—−$5.3M−$192M$199M
Q1 2026$174M−$152M—−$38.2M−$5.2M−$24.0M$21.6M
Q4 2025$202M−$120M−$6.0M−$16.5M−$5.0M−$30.6M$81.5M
Q3 2025$114M−$85.5M−$29.1M−$48.3M−$4.9M$56.7M$28.7M
Q2 2025$352M−$147M—−$37.4M−$4.8M−$155M$204M
Q1 2025$268M−$129M−$14.8M−$17.3M−$4.8M−$95.5M$139M
Q4 2024$349M−$154M——−$4.6M−$63.5M$196M

Talos Energy: income statement and cash flow

Talos Energy, Q3 2026: revenue $596M (+32% year over year), operating margin 26.3%. The chart follows the revenue to costs, profit and cash.

Talos Energy: 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.