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Titan International cash flow, quarter by quarter

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

Free cash flow$17.9M in Q3 2026 · −$27.0M over twelve months

Operating cash flow$17.1M
Capital spending$773K
Free cash flow+$17.9M
Cash conversion cycle123 days

Analysis

In Q3 2026, Titan International generated $17.1M of operating cash flow and spent −$773K on capital projects, leaving free cash flow of $17.9M. That is $18.4M less than in Q3 2025 ($36.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $22.5M; the largest uses were capital spending ($49.5M), other investing ($5.5M); besides operations, cash came from other financing ($314K); the cash balance fell by $32.6M.

Operating cash flow was $17.1M against net income of −$42.5M. The largest differences: receivables +$54.5M, payables −$35.3M, inventory +$11.6M.

Its cash conversion cycle was 123 days (receivables 69 + inventory 130 − payables 76).

Free cash flow

Titan International: free cash flow by quarterTitan International: free cash flow by quarter−$4.6MQ4 2024−$53.6MQ1 2025$4.2MQ2 2025$36.3MQ3 2025−$11.5MQ4 2025−$59.8MQ1 2026$26.4MQ2 2026$17.9MQ3 2026
Operating cash flow less capital spending.
Titan International: operating cash flow against capital spendingTitan International: operating cash flow against capital spendingOperating cash flowCapital spending$8.7M$13.3MQ4 2024−$38.6M$15.0MQ1 2025$14.3M$10.1MQ2 2025$41.5M$5.2MQ3 2025$12.8M$24.3MQ4 2025−$46.5M$13.2MQ1 2026$39.1M$12.8MQ2 2026$17.1M−$773KQ3 2026
Latest (Q3 2026): Operating cash flow $17.1M, Capital spending −$773K.

Capital allocation, year by year

Titan International: where the cash came from (up) and went (down), by fiscal yearTitan International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $10.7MFY2021: Net borrowing $84.1MFY2021: Capital spending −$38.8M$94.9MFY2021FY2022: Operating cash flow $161MFY2022: Net borrowing $88.9MFY2022: Asset sales $9.3MFY2022: Capital spending −$47.0MFY2022: Buybacks −$25.0M$259MFY2022FY2023: Operating cash flow $179MFY2023: Net borrowing $6.7MFY2023: Asset sales $2.1MFY2023: Capital spending −$60.8MFY2023: Buybacks −$32.6M$188MFY2023FY2024: Operating cash flow $141MFY2024: Net borrowing $213MFY2024: Capital spending −$65.6MFY2024: Acquisitions −$144M$355MFY2024FY2025: Operating cash flow $30.0MFY2025: Net borrowing $117MFY2025: Capital spending −$54.6M$147MFY2025
Over these 5 years operating cash flow totalled $522M; the largest uses were capital spending ($267M) and acquisitions ($144M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$173M
Debt$567M
Net debt$395M
Due within a year$21.2M

Titan International's operations bring cash in ($22.5M over twelve months), and it spends more than that on capital projects: a gap of $27.0M funded from its $173M of cash and investments and from borrowing ($567M of debt, $21.2M due within a year). That is a choice to invest, not a cash runway running down.

Titan International: debt maturities by year (FY2025)Titan International: debt maturities by year (FY2025)$21.2MYear 1$5.8MYear 2$557MYear 3$543KYear 4$3.8MYear 5
Principal due in each year as disclosed in the annual report, against $173M of cash and investments now.

Where the cash came from and went

Titan International: sources (+) and uses (−) of cash, Q3 2026Titan International: sources (+) and uses (−) of cash, Q3 2026Other financing−$32.3MNet borrowing (+) / repaid (−)$17.9MOperating cash flow$17.1MOther investing−$7.6MCash drawn (+) / kept (−)$7.0MExchange rates−$2.9MCapital spending$773K
Titan International: sources (+) and uses (−) of cash, TTM to Q3 2026Titan International: sources (+) and uses (−) of cash, TTM to Q3 2026Capital spending−$49.5MCash drawn (+) / kept (−)$32.6MOperating cash flow$22.5MOther investing−$5.5MExchange rates−$435KOther financing$314K

From profit to cash

Titan International: net income to operating cash flow, Q3 2026Titan International: net income to operating cash flow, Q3 2026Net income−$42.5MDepreciation & amortization$6.3MStock-based pay$1.3MDeferred taxes−$4.0MGains on disposals$1KOther non-cash$5.2MReceivables$54.5MInventory$11.6MPayables−$35.3MPrepaid and other assets$2.4MOther liabilities$3.4MOperating cash flow$17.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20266913076123
Q2 20266210564103
Q1 202645834781
Q4 202528563054
Q3 20257514479140
Q2 20256110864106
Q1 202549955491
Q4 20245812061117

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$17.1M$773K$17.9M$7.0M$17.9M
Q2 2026$39.1M−$12.8M$17.4M−$8.5M$26.4M
Q1 2026−$46.5M−$13.2M$59.2M$31.6M−$59.8M
Q4 2025$12.8M−$24.3M$44.3M$2.5M−$11.5M
Q3 2025$41.5M−$5.2M$17.7M−$20.7M$36.3M
Q2 2025$14.3M−$10.1M$28.3M−$10.2M$4.2M
Q1 2025−$38.6M−$15.0M$26.6M$21.5M−$53.6M
Q4 2024$8.7M−$13.3M$53.6M$31.3M−$4.6M

Titan International: income statement and cash flow

Titan International, Q3 2026: revenue $335M (-6% year over year), operating margin -0.3%. The chart follows the revenue to costs, profit and cash.

Titan International: 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.