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TOP Financial Group cash flow, quarter by quarter

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

Free cash flow−$8.4M in Q2 FY27 · −$602K over twelve months

Operating cash flow−$8.4M
Capital spending−$7K
Free cash flow−$8.4M
Cash / net income-30.7×

Analysis

In Q2 FY27, TOP Financial Group generated −$8.4M of operating cash flow and spent $7K on capital projects, leaving free cash flow of −$8.4M. That is $12.6M less than in Q2 FY26 ($4.2M).

Over the twelve months to Sep 30, 2026, operating cash flow was $307K; the largest uses were capital spending ($909K); besides operations, cash came from other investing ($9.7M); the cash balance rose by $9.3M.

Operating cash flow was −$8.4M against net income of $274K — -30.7× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$59K.

Free cash flow

TOP Financial Group: free cash flow by quarterTOP Financial Group: free cash flow by quarter$7.1MQ1 FY26$4.2MQ2 FY26$6.0MQ1 FY27−$8.4MQ2 FY27
Operating cash flow less capital spending.
TOP Financial Group: operating cash flow against capital spendingTOP Financial Group: operating cash flow against capital spendingOperating cash flowCapital spending$7.1M$0Q1 FY26$4.2M$0Q2 FY26$6.0M$3KQ1 FY27−$8.4M$7KQ2 FY27
Latest (Q2 FY27): Operating cash flow −$8.4M, Capital spending $7K.

Capital allocation, year by year

TOP Financial Group: where the cash came from (up) and went (down), by fiscal yearTOP Financial Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY22: Operating cash flow $1.6MFY22: Capital spending −$414K$1.6MFY22FY23: Operating cash flow −$6.0MFY23: Shares issued $22.7MFY23: Capital spending −$86K$22.7MFY23FY24: Operating cash flow $17.8MFY24: Capital spending −$6K$17.8MFY24FY25: Operating cash flow −$14.5MFY25: Capital spending −$3KFY25FY26: Operating cash flow $14.0MFY26: Net borrowing $641KFY26: Asset sales $140KFY26: Capital spending −$900K$14.8MFY26
Over these 5 years operating cash flow totalled $12.9M; the largest uses were operating cash flow ($20.5M) and capital spending ($1.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$13.0M
Debtnone
Net cash$13.0M

TOP Financial Group's operations bring cash in ($307K over twelve months), and it spends more than that on capital projects: a gap of $602K funded from its $13.0M of cash and investments and from borrowing. That is a choice to invest, not a cash runway running down.

Where the cash came from and went

TOP Financial Group: sources (+) and uses (−) of cash, Q2 FY27TOP Financial Group: sources (+) and uses (−) of cash, Q2 FY27Cash drawn (+) / kept (−)$11.4MOperating cash flow−$8.4MOther investing−$3.1MExchange rates$167KCapital spending−$7K
TOP Financial Group: sources (+) and uses (−) of cash, TTM to Q2 FY27TOP Financial Group: sources (+) and uses (−) of cash, TTM to Q2 FY27Other investing$9.7MCash drawn (+) / kept (−)−$9.3MCapital spending−$909KOperating cash flow$307KExchange rates$209K

From profit to cash

TOP Financial Group: net income to operating cash flow, Q2 FY27TOP Financial Group: net income to operating cash flow, Q2 FY27Net income$274KDepreciation & amortization$59KOperating cash flow−$8.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingCash drawn (+) / kept (−)Free cash flow
Q2 FY27−$8.4M−$7K$11.4M−$8.4M
Q1 FY27$6.0M−$3K−$13.6M$6.0M
Q2 FY26$4.2M—−$1.5M$4.2M
Q1 FY26$7.1M—−$6.9M$7.1M

TOP Financial Group: income statement and cash flow

TOP Financial Group, Q2 FY27: revenue $2.2M (+44% year over year), operating margin 12.4%. The chart follows the revenue to costs, profit and cash.

TOP Financial Group: 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.