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Tandy Leather Factory cash flow, quarter by quarter

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

Free cash flow−$3.7M in Q2 2026 · −$2.3M over twelve months

Operating cash flow−$3.3M
Capital spending−$415K
Free cash flow−$3.7M
Cash / net income-8.0×
Cash conversion cycle464 days

Analysis

In Q2 2026, Tandy Leather Factory generated −$3.3M of operating cash flow and spent $415K on capital projects, leaving free cash flow of −$3.7M. That is $3.6M more than in Q2 2025 (−$7.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was $1.2M; the largest uses were dividends ($6.1M), capital spending ($3.5M), other financing ($1.3M); the cash balance fell by $10.0M.

Operating cash flow was −$3.3M against net income of $409K — -8.0× profit, less cash than reported earnings, worth checking against working capital. The largest differences: inventory −$3.5M, accrued liabilities −$349K, payables −$230K.

Its cash conversion cycle was 464 days (receivables 2 + inventory 507 − payables 45).

Free cash flow

Tandy Leather Factory: free cash flow by quarterTandy Leather Factory: free cash flow by quarter−$1.4MQ3 2024$3.8MQ4 2024−$1.9MQ1 2025−$7.3MQ2 2025−$3.0MQ3 2025$4.0MQ4 2025$319KQ1 2026−$3.7MQ2 2026
Operating cash flow less capital spending.
Tandy Leather Factory: operating cash flow against capital spendingTandy Leather Factory: operating cash flow against capital spendingOperating cash flowCapital spending−$535K$887KQ3 2024$4.5M$668KQ4 2024−$536K$1.3MQ1 2025−$3.6M$3.7MQ2 2025−$1.4M$1.6MQ3 2025$5.0M$947KQ4 2025$906K$587KQ1 2026−$3.3M$415KQ2 2026
Latest (Q2 2026): Operating cash flow −$3.3M, Capital spending $415K.

Capital allocation, year by year

Tandy Leather Factory: where the cash came from (up) and went (down), by fiscal yearTandy Leather Factory: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $3.7MFY2021: Net borrowing −$14KFY2021: Capital spending −$1.0MFY2021: Buybacks −$2.7M$3.7MFY2021FY2022: Operating cash flow $1.2MFY2022: Net borrowing −$373KFY2022: Asset sales $10KFY2022: Capital spending −$635KFY2022: Buybacks −$1.8M$1.2MFY2022FY2023: Operating cash flow $4.5MFY2023: Net borrowing −$15KFY2023: Capital spending −$576KFY2023: Buybacks −$11K$4.5MFY2023FY2024: Operating cash flow $4.5MFY2024: Net borrowing −$1KFY2024: Capital spending −$3.0M$4.5MFY2024FY2025: Operating cash flow −$556KFY2025: Asset sales $24.9MFY2025: Capital spending −$7.5MFY2025: Buybacks −$1.4MFY2025: Dividends −$12.7M$24.9MFY2025
Over these 5 years operating cash flow totalled $13.4M; the largest uses were dividends ($12.7M) and capital spending ($12.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.4M
Debtnone
Net cash$6.4M
Cash runway5 months

Tandy Leather Factory is burning cash: its operations consume cash, a free cash flow of −$14.7M a year at the current rate against $6.4M of cash and investments: a runway of about 5 months before any new financing.

Where the cash came from and went

Tandy Leather Factory: sources (+) and uses (−) of cash, Q2 2026Tandy Leather Factory: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$3.7MOperating cash flow−$3.3MCapital spending−$415KExchange rates$20K
Tandy Leather Factory: sources (+) and uses (−) of cash, TTM to Q2 2026Tandy Leather Factory: sources (+) and uses (−) of cash, TTM to Q2 2026Cash drawn (+) / kept (−)$10.0MDividends−$6.1MCapital spending−$3.5MOther financing−$1.3MOperating cash flow$1.2MExchange rates−$301K

From profit to cash

Tandy Leather Factory: net income to operating cash flow, Q2 2026Tandy Leather Factory: net income to operating cash flow, Q2 2026Net income$409KStock-based pay$141KDeferred taxes−$19KReceivables$9KInventory−$3.5MPayables−$230KAccrued liabilities−$349KPrepaid and other assets−$5KOperating cash flow−$3.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026250745464
Q1 2026239332363
Q4 2025231322293
Q3 2025246834436
Q2 2025244638410
Q1 2025137835344
Q4 2024235226328
Q3 2024247330445

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q2 2026−$3.3M−$415K——$3.7M−$3.7M
Q1 2026$906K−$587K—−$6.1M$6.0M$319K
Q4 2025$5.0M−$947K$107K—−$4.1M$4.0M
Q3 2025−$1.4M−$1.6M−$1.3M—$4.4M−$3.0M
Q2 2025−$3.6M−$3.7M——$7.2M−$7.3M
Q1 2025−$536K−$1.3M—−$12.7M−$10.3M−$1.9M
Q4 2024$4.5M−$668K——−$3.2M$3.8M
Q3 2024−$535K−$887K——$1.5M−$1.4M

Tandy Leather Factory: income statement and cash flow

Tandy Leather Factory, Q2 2026: revenue $18.0M (+2% year over year), operating margin 3.0%. The chart follows the revenue to costs, profit and cash.

Tandy Leather Factory: 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.