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USA Today cash flow, quarter by quarter

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

Free cash flow$4.1M in Q3 2026 · $60.8M over twelve months

Operating cash flow$16.7M
Capital spending−$12.6M
Free cash flow+$4.1M
Cash conversion cycle2 days

Analysis

In Q3 2026, USA Today generated $16.7M of operating cash flow and spent $12.6M on capital projects, leaving free cash flow of $4.1M. That is $762K less than in Q3 2025 ($4.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $115M; the largest uses were capital spending ($53.8M), net borrowing (+) / repaid (−) ($43.9M), other financing ($35.8M); besides operations, cash came from other investing ($13.4M); the cash balance fell by $6.8M.

Operating cash flow was $16.7M against net income of −$4.6M. The largest differences: depreciation & amortization +$31.5M, other operating capital +$16.4M, gains on disposals −$10.3M.

Its cash conversion cycle was 2 days (receivables 38 + inventory 4 − payables 40).

Free cash flow

USA Today: free cash flow by quarterUSA Today: free cash flow by quarter−$3.8MQ4 2024$9.8MQ1 2025$17.5MQ2 2025$4.9MQ3 2025$30.8MQ4 2025$6.4MQ1 2026$19.6MQ2 2026$4.1MQ3 2026
Operating cash flow less capital spending.
USA Today: operating cash flow against capital spendingUSA Today: operating cash flow against capital spendingOperating cash flowCapital spending$9.0M$12.8MQ4 2024$23.3M$13.5MQ1 2025$32.6M$15.1MQ2 2025$15.2M$10.3MQ3 2025$43.4M$12.6MQ4 2025$19.3M$12.9MQ1 2026$35.4M$15.8MQ2 2026$16.7M$12.6MQ3 2026
Latest (Q3 2026): Operating cash flow $16.7M, Capital spending $12.6M.

Capital allocation, year by year

USA Today: where the cash came from (up) and went (down), by fiscal yearUSA Today: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $127MFY2021: Net borrowing −$236MFY2021: Capital spending −$39.6MFY2021: Acquisitions −$125KFY2021: Buybacks −$3.2M$127MFY2021FY2022: Operating cash flow $40.8MFY2022: Net borrowing −$91.0MFY2022: Capital spending −$45.4MFY2022: Acquisitions −$15.4MFY2022: Buybacks −$6.6M$40.8MFY2022FY2023: Operating cash flow $94.6MFY2023: Net borrowing −$134MFY2023: Asset sales $60.5MFY2023: Capital spending −$38.1MFY2023: Buybacks −$2.6M$155MFY2023FY2024: Operating cash flow $100MFY2024: Net borrowing −$55.2MFY2024: Capital spending −$49.5MFY2024: Buybacks −$3.1M$100MFY2024FY2025: Operating cash flow $114MFY2025: Net borrowing −$135MFY2025: Capital spending −$51.5MFY2025: Buybacks −$3.1M$114MFY2025
Over these 5 years operating cash flow totalled $478M; the largest uses were net borrowing ($651M) and capital spending ($224M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$68.2M
Debt$934M
Net debt$866M
Due within a year$70.7M

USA Today funds itself: free cash flow was $60.8M over the last twelve months, and $68.2M of cash and investments stands against $934M of debt ($70.7M due within a year, 1.0× covered by cash).

Where the cash came from and went

USA Today: sources (+) and uses (−) of cash, Q3 2026USA Today: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$18.3MNet borrowing (+) / repaid (−)−$17.7MOperating cash flow$16.7MCapital spending−$12.6MOther financing−$4.6MExchange rates−$304KOther investing$190K
USA Today: sources (+) and uses (−) of cash, TTM to Q3 2026USA Today: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$115MCapital spending−$53.8MNet borrowing (+) / repaid (−)−$43.9MOther financing−$35.8MOther investing$13.4MCash drawn (+) / kept (−)$6.8MExchange rates−$1.4M

From profit to cash

USA Today: net income to operating cash flow, Q3 2026USA Today: net income to operating cash flow, Q3 2026Net income−$4.6MDepreciation & amortization$31.5MStock-based pay$2.6MGains on disposals−$10.3MOther operating capital$16.4MOperating cash flow$16.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026384402
Q2 2026383401
Q1 2026373391
Q4 202535440-2
Q3 202537440-0
Q2 2025354390
Q1 2025365393
Q4 2024365392

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$16.7M−$12.6M—−$17.7M$18.3M$4.1M
Q2 2026$35.4M−$15.8M—−$17.7M−$1.7M$19.6M
Q1 2026$19.3M−$12.9M−$2.7M$10.6M$5.3M$6.4M
Q4 2025$43.4M−$12.6M—−$19.1M−$15.0M$30.8M
Q3 2025$15.2M−$10.3M—−$18.5M$13.3M$4.9M
Q2 2025$32.6M−$15.1M−$303K−$23.4M−$82K$17.5M
Q1 2025$23.3M−$13.5M−$2.8M−$74.5M$20.1M$9.8M
Q4 2024$9.0M−$12.8M—$12.8M−$4.5M−$3.8M

USA Today: income statement and cash flow

USA Today, Q3 2026: revenue $519M (-7% year over year), operating margin -1.1%. The chart follows the revenue to costs, profit and cash.

USA Today: 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.