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Titan Machinery cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$2.0M in Q2 FY27 · $62.5M over twelve months

Operating cash flow−$2.0M
Free cash flow−$2.0M
Cash conversion cycle221 days

Analysis

In Q2 FY27, Titan Machinery generated −$2.0M of operating cash flow. That is $45.7M less than in Q2 FY26 ($43.7M).

Over the twelve months to Jul 31, 2026, operating cash flow was $62.5M; the largest uses were other financing ($68.8M), other investing ($7.9M); besides operations, cash came from asset & business sales ($6.3M), net borrowing (+) / repaid (−) ($5.5M); the cash balance fell by $3.2M.

Operating cash flow was −$2.0M against net income of −$9.2M. The largest differences: inventory −$21.1M, deferred revenue −$15.5M, depreciation & amortization +$9.5M.

Its cash conversion cycle was 221 days (receivables 21 + inventory 210 − payables 10).

Free cash flow

Titan Machinery: free cash flow by quarterTitan Machinery: free cash flow by quarter−$8.8MQ3 FY25$126MQ4 FY25$6.2MQ1 FY26$43.7MQ2 FY26$34.0MQ3 FY26$53.6MQ4 FY26−$23.1MQ1 FY27−$2.0MQ2 FY27
Operating cash flow less capital spending.
Titan Machinery: operating cash flow against capital spendingTitan Machinery: operating cash flow against capital spendingOperating cash flowCapital spending−$8.8M$0Q3 FY25$126M$0Q4 FY25$6.2M$0Q1 FY26$43.7M$0Q2 FY26$34.0M$0Q3 FY26$53.6M$0Q4 FY26−$23.1M$0Q1 FY27−$2.0M$0Q2 FY27
Latest (Q2 FY27): Operating cash flow −$2.0M, Capital spending $0.

Capital allocation, year by year

Titan Machinery: where the cash came from (up) and went (down), by fiscal yearTitan Machinery: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesAcquisitionsFY22: Operating cash flow $159MFY22: Net borrowing $9.1MFY22: Asset sales $16.0MFY22: Acquisitions −$33.6M$184MFY22FY23: Operating cash flow $10.8MFY23: Net borrowing $77KFY23: Asset sales $3.8MFY23: Acquisitions −$100M$14.6MFY23FY24: Operating cash flow −$32.3MFY24: Net borrowing $6.0MFY24: Asset sales $7.1MFY24: Acquisitions −$108M$13.1MFY24FY25: Operating cash flow $70.3MFY25: Net borrowing $17.2MFY25: Asset sales $4.2MFY25: Acquisitions −$260K$91.6MFY25FY26: Operating cash flow $137MFY26: Net borrowing $2.0MFY26: Asset sales $18.6MFY26: Acquisitions −$19.8M$158MFY26
Over these 5 years operating cash flow totalled $345M; the largest uses were acquisitions ($262M) and operating cash flow ($32.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$29.5M
Debt$173M
Net debt$144M
Due within a year$21.4M
Cash runway3.7 years

Titan Machinery is burning cash: its operations consume cash, a free cash flow of −$7.9M a year at the current rate against $29.5M of cash and investments: a runway of about 3.7 years; $21.4M of debt also comes due within a year, which the cash covers before any new financing.

Titan Machinery: debt maturities by year (FY26)Titan Machinery: debt maturities by year (FY26)$21.4MYear 1$17.2MYear 2$32.9MYear 3$43.1MYear 4$30.4MYear 5$35.0MAfter year 5
Principal due in each year as disclosed in the annual report, against $29.5M of cash and investments now.

Where the cash came from and went

Titan Machinery: sources (+) and uses (−) of cash, Q2 FY27Titan Machinery: sources (+) and uses (−) of cash, Q2 FY27Other financing$10.9MOther investing−$7.5MNet borrowing (+) / repaid (−)−$3.9MAsset & business sales$2.7MOperating cash flow−$2.0MExchange rates−$335KCash drawn (+) / kept (−)$70K
Titan Machinery: sources (+) and uses (−) of cash, TTM to Q2 FY27Titan Machinery: sources (+) and uses (−) of cash, TTM to Q2 FY27Other financing−$68.8MOperating cash flow$62.5MOther investing−$7.9MAsset & business sales$6.3MNet borrowing (+) / repaid (−)$5.5MCash drawn (+) / kept (−)$3.2MExchange rates−$799K

From profit to cash

Titan Machinery: net income to operating cash flow, Q2 FY27Titan Machinery: net income to operating cash flow, Q2 FY27Net income−$9.2MDepreciation & amortization$9.5MStock-based pay$1.4MDeferred taxes$391KImpairments$592KOther non-cash−$195KReceivables−$4.7MInventory−$21.1MDeferred revenue−$15.5MPrepaid and other assets$5.6MOther liabilities$5.7MOperating cash flow−$2.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY272121010221
Q1 FY27201878199
Q4 FY26201597172
Q3 FY26201858197
Q2 FY26212289239
Q1 FY26181958206
Q4 FY25161645174
Q3 FY25182387249

Every quarter

QuarterOperating cash flowNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 FY27−$2.0M−$3.9M$70K−$2.0M
Q1 FY27−$23.1M−$4.3M−$1.4M−$23.1M
Q4 FY26$53.6M$2.8M$20.6M$53.6M
Q3 FY26$34.0M$10.9M−$16.1M$34.0M
Q2 FY26$43.7M−$3.7M−$11.2M$43.7M
Q1 FY26$6.2M−$5.9M$14.4M$6.2M
Q4 FY25$126M$21.1M−$12.5M$126M
Q3 FY25−$8.8M$9.5M$7.8M−$8.8M

Titan Machinery: income statement and cash flow

Titan Machinery, Q2 FY27: revenue $496M (-9% year over year), operating margin -0.5%. The chart follows the revenue to costs, profit and cash.

Titan Machinery: 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.