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Transcat cash flow, quarter by quarter

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

Free cash flow$6.1M in Q2 FY27 · $23.0M over twelve months

Operating cash flow$10.1M
Capital spending−$4.1M
Free cash flow+$6.1M
Cash / net income4.2×
Cash conversion cycle56 days

Analysis

In Q2 FY27, Transcat generated $10.1M of operating cash flow and spent $4.1M on capital projects, leaving free cash flow of $6.1M.

Over the twelve months to Sep 26, 2026, operating cash flow was $37.3M; the largest uses were acquisitions ($25.9M), capital spending ($14.3M), other financing ($1.0M); besides operations, cash came from net borrowing (+) / repaid (−) ($4.1M); the cash balance rose by $676K.

Operating cash flow was $10.1M against net income of $2.4M — 4.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$6.8M, receivables −$3.5M, stock-based pay +$2.2M.

Its cash conversion cycle was 56 days (receivables 64 + inventory 21 − payables 29).

Free cash flow

Transcat: free cash flow by quarterTranscat: free cash flow by quarter$9.7MQ3 FY25$7.9MQ4 FY25−$975KQ1 FY26$8.4MQ2 FY26$9.5MQ3 FY26$2.6MQ4 FY26$4.8MQ1 FY27$6.1MQ2 FY27
Operating cash flow less capital spending.
Transcat: operating cash flow against capital spendingTranscat: operating cash flow against capital spendingOperating cash flowCapital spending$12.6M$2.9MQ3 FY25$10.6M$2.7MQ4 FY25$3.6M$4.6MQ1 FY26$12.9M$4.4MQ2 FY26$12.1M$2.7MQ3 FY26$6.2M$3.6MQ4 FY26$8.8M$4.0MQ1 FY27$10.1M$4.1MQ2 FY27
Latest (Q2 FY27): Operating cash flow $10.1M, Capital spending $4.1M.

Capital allocation, year by year

Transcat: where the cash came from (up) and went (down), by fiscal yearTranscat: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $17.6MFY22: Net borrowing $28.9MFY22: Shares issued $2.5MFY22: Asset sales $109KFY22: Capital spending −$10.2MFY22: Acquisitions −$29.8MFY22: Buybacks −$6.7M$49.1MFY22FY23: Operating cash flow $17.0MFY23: Net borrowing $665KFY23: Shares issued $758KFY23: Asset sales $10KFY23: Capital spending −$9.4MFY23: Acquisitions −$9.1MFY23: Buybacks −$447K$18.4MFY23FY24: Operating cash flow $32.6MFY24: Net borrowing −$45.0MFY24: Shares issued $1.5MFY24: Capital spending −$13.3MFY24: Acquisitions −$12.9MFY24: Buybacks −$4.9M$34.1MFY24FY25: Operating cash flow $39.0MFY25: Net borrowing $28.6MFY25: Shares issued $1.3MFY25: Capital spending −$13.2MFY25: Acquisitions −$87.4MFY25: Buybacks −$3.6M$68.8MFY25FY26: Operating cash flow $34.9MFY26: Net borrowing $68.3MFY26: Shares issued $100KFY26: Capital spending −$15.3MFY26: Acquisitions −$82.5MFY26: Buybacks −$469K$103MFY26
Over these 5 years operating cash flow totalled $141M; the largest uses were acquisitions ($222M) and capital spending ($61.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.8M
Debt$117M
Net debt$111M

Transcat funds itself: free cash flow was $23.0M over the last twelve months, and $5.8M of cash and investments stands against $117M of debt.

Where the cash came from and went

Transcat: sources (+) and uses (−) of cash, Q2 FY27Transcat: sources (+) and uses (−) of cash, Q2 FY27Acquisitions−$13.1MOperating cash flow$10.1MNet borrowing (+) / repaid (−)$6.4MCapital spending−$4.1MCash drawn (+) / kept (−)$951KOther financing−$326KExchange rates−$9K
Transcat: sources (+) and uses (−) of cash, TTM to Q2 FY27Transcat: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$37.3MAcquisitions−$25.9MCapital spending−$14.3MNet borrowing (+) / repaid (−)$4.1MOther financing−$1.0MCash drawn (+) / kept (−)−$676KExchange rates$482KNot reconciled$1K

From profit to cash

Transcat: net income to operating cash flow, Q2 FY27Transcat: net income to operating cash flow, Q2 FY27Net income$2.4MDepreciation & amortization$6.8MStock-based pay$2.2MDeferred taxes$182KGains on disposals$192KReceivables−$3.5MInventory$755KPayables$646KAccrued liabilities$963KPrepaid and other assets−$892KOperating cash flow$10.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2764212956
Q1 FY2765212857
Q4 FY2663212756
Q3 FY2666202660
Q2 FY2666232466
Q1 FY2668272767
Q4 FY2563252959
Q3 FY2569282869

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$10.1M−$4.1M−$13.1M—$6.4M—$951K$6.1M
Q1 FY27$8.8M−$4.0M−$12.8M−$1.9M$10.4M$1.0M−$1.8M$4.8M
Q4 FY26$6.2M−$3.6M—−$372K−$1K—−$1.5M$2.6M
Q3 FY26$12.1M−$2.7M$1K$13K−$12.4M—$1.6M$9.5M
Q2 FY26$12.9M−$4.4M−$82.5M−$110K$77.5M$100K−$3.2M$8.4M
Q1 FY26$3.6M−$4.6M——$1.7M—−$344K−$975K
Q4 FY25$10.6M−$2.7M−$1.3M−$357K−$9.2M—$3.1M$7.9M
Q3 FY25$12.6M−$2.9M−$70.2M−$182K$38.9M$700K$19.2M$9.7M

Transcat: income statement and cash flow

Transcat, Q2 FY27: revenue $97.1M (+18% year over year), operating margin 5.2%. The chart follows the revenue to costs, profit and cash.

Transcat: 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.