Filing Flows

Filing Flows › Companies › UGI › Cash flow

UGI cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$16.0M in Q3 FY26 · $187M over twelve months

Operating cash flow$242M
Capital spending−$226M
Free cash flow+$16.0M
Cash conversion cycle46 days

Analysis

In Q3 FY26, UGI generated $242M of operating cash flow and spent $226M on capital projects, leaving free cash flow of $16.0M. That is $51.0M less than in Q3 FY25 ($67.0M).

Over the twelve months to Jun 30, 2026, operating cash flow was $1.1B; the largest uses were capital spending ($875M), dividends ($322M), buybacks ($39.0M); besides operations, cash came from asset & business sales ($215M), net borrowing (+) / repaid (−) ($116M); the cash balance rose by $153M.

Operating cash flow was $242M against net income of −$133M. The largest differences: receivables +$436M, depreciation & amortization +$138M, other liabilities −$134M.

Its cash conversion cycle was 46 days (receivables 67 + inventory 40 − payables 61).

Free cash flow

UGI: free cash flow by quarterUGI: free cash flow by quarter−$115MQ4 FY24−$47.0MQ1 FY25$538MQ2 FY25$67.0MQ3 FY25−$168MQ4 FY25−$155MQ1 FY26$494MQ2 FY26$16.0MQ3 FY26
Operating cash flow less capital spending.
UGI: operating cash flow against capital spendingUGI: operating cash flow against capital spendingOperating cash flowCapital spending$151M$266MQ4 FY24$164M$211MQ1 FY25$684M$146MQ2 FY25$289M$222MQ3 FY25$90.0M$258MQ4 FY25$66.0M$221MQ1 FY26$664M$170MQ2 FY26$242M$226MQ3 FY26
Latest (Q3 FY26): Operating cash flow $242M, Capital spending $226M.

Capital allocation, year by year

UGI: where the cash came from (up) and went (down), by fiscal yearUGI: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY21: Operating cash flow $1.5BFY21: Net borrowing $232MFY21: Shares issued $232MFY21: Asset sales $39.0MFY21: Capital spending −$690MFY21: Acquisitions −$397MFY21: Dividends −$282M$2.0BFY21FY22: Operating cash flow $716MFY22: Net borrowing $278MFY22: Shares issued $19.0MFY22: Asset sales $44.0MFY22: Capital spending −$804MFY22: Acquisitions −$242MFY22: Buybacks −$38.0MFY22: Dividends −$296M$1.1BFY22FY23: Operating cash flow $1.1BFY23: Net borrowing $165MFY23: Shares issued $12.0MFY23: Asset sales $30.0MFY23: Capital spending −$974MFY23: Acquisitions −$9.0MFY23: Buybacks −$22.0MFY23: Dividends −$308M$1.3BFY23FY24: Operating cash flow $1.2BFY24: Net borrowing −$178MFY24: Asset sales $93.0MFY24: Capital spending −$796MFY24: Dividends −$318M$1.3BFY24FY25: Operating cash flow $1.2BFY25: Net borrowing −$69.0MFY25: Shares issued $18.0MFY25: Asset sales $170MFY25: Capital spending −$837MFY25: Buybacks −$33.0MFY25: Dividends −$322M$1.4BFY25
Over these 5 years operating cash flow totalled $5.7B; the largest uses were capital spending ($4.1B) and dividends ($1.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$476M
Debt$6.6B
Net debt$6.2B
Due within a year$117M

UGI funds itself: free cash flow was $187M over the last twelve months, and $476M of cash and investments stands against $6.6B of debt ($117M due within a year, 4.1× covered by cash).

UGI: debt maturities by year (FY25)UGI: debt maturities by year (FY25)$117MYear 1$592MYear 2$2.0BYear 3$273MYear 4$1.8BYear 5
Principal due in each year as disclosed in the annual report, against $476M of cash and investments now.

Where the cash came from and went

UGI: sources (+) and uses (−) of cash, Q3 FY26UGI: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$242MCapital spending−$226MDividends−$80.0MAsset & business sales$54.0MCash drawn (+) / kept (−)$7.0MNet borrowing (+) / repaid (−)$6.0MExchange rates−$4.0MShares issued$1.0M
UGI: sources (+) and uses (−) of cash, TTM to Q3 FY26UGI: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$1.1BCapital spending−$875MDividends−$322MAsset & business sales$215MCash drawn (+) / kept (−)−$153MNet borrowing (+) / repaid (−)$116MBuybacks−$39.0MShares issued$18.0MExchange rates−$13.0MOther investing−$9.0M

From profit to cash

UGI: net income to operating cash flow, Q3 FY26UGI: net income to operating cash flow, Q3 FY26Net income−$133MDepreciation & amortization$138MDeferred taxes−$20.0MOther non-cash$18.0MReceivables$436MInventory−$40.0MPayables−$123MPrepaid and other assets$29.0MOther liabilities−$134MOperating cash flow$242M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2667406146
Q2 FY2637274618
Q1 FY2639355222
Q4 FY2559587740
Q3 FY2566385944
Q2 FY2537254221
Q1 FY2539395722
Q4 FY2457557042

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$242M−$226M—−$80.0M$6.0M$1.0M$7.0M$16.0M
Q2 FY26$664M−$170M−$11.0M−$80.0M−$158M$2.0M−$259M$494M
Q1 FY26$66.0M−$221M−$12.0M−$81.0M$75.0M$12.0M$84.0M−$155M
Q4 FY25$90.0M−$258M−$16.0M−$81.0M$193M$3.0M$15.0M−$168M
Q3 FY25$289M−$222M—−$80.0M−$171M$14.0M$68.0M$67.0M
Q2 FY25$684M−$146M−$17.0M−$80.0M−$267M$1.0M−$192M$538M
Q1 FY25$164M−$211M—−$81.0M$176M—−$18.0M−$47.0M
Q4 FY24$151M−$266M—−$80.0M$136M—−$17.0M−$115M

UGI: income statement and cash flow

UGI, Q3 FY26: revenue $1.3B (-4% year over year), operating margin -3.3%. The chart follows the revenue to costs, profit and cash.

UGI: 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.