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Unisys cash flow, quarter by quarter

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

Free cash flow−$46.4M in Q3 2026 · −$2.5M over twelve months

Operating cash flow−$35.8M
Capital spending−$10.6M
Free cash flow−$46.4M

Analysis

In Q3 2026, Unisys generated −$35.8M of operating cash flow and spent $10.6M on capital projects, leaving free cash flow of −$46.4M. That is $78.8M less than in Q3 2025 ($32.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $38.4M; the largest uses were capital spending ($40.9M), other investing ($35.1M), net borrowing (+) / repaid (−) ($13.9M); the cash balance fell by $54.0M.

Operating cash flow was −$35.8M against net income of −$200M. The largest differences: prepaid and other assets +$12.0M, payables −$9.2M, other liabilities −$6.5M.

Free cash flow

Unisys: free cash flow by quarterUnisys: free cash flow by quarter$66.5MQ4 2024$24.4MQ1 2025−$324MQ2 2025$32.4MQ3 2025$97.3MQ4 2025−$15.1MQ1 2026−$38.3MQ2 2026−$46.4MQ3 2026
Operating cash flow less capital spending.
Unisys: operating cash flow against capital spendingUnisys: operating cash flow against capital spendingOperating cash flowCapital spending$76.6M$10.1MQ4 2024$33.3M$8.9MQ1 2025−$316M$7.9MQ2 2025$38.0M$5.6MQ3 2025$105M$7.6MQ4 2025−$4.4M$10.7MQ1 2026−$26.3M$12.0MQ2 2026−$35.8M$10.6MQ3 2026
Latest (Q3 2026): Operating cash flow −$35.8M, Capital spending $10.6M.

Capital allocation, year by year

Unisys: where the cash came from (up) and went (down), by fiscal yearUnisys: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY2021: Operating cash flow $132MFY2021: Net borrowing −$102MFY2021: Shares issued $4.5MFY2021: Capital spending −$27.3MFY2021: Acquisitions −$239M$137MFY2021FY2022: Operating cash flow $12.7MFY2022: Net borrowing −$17.8MFY2022: Capital spending −$31.0MFY2022: Acquisitions −$300K$12.7MFY2022FY2023: Operating cash flow $74.2MFY2023: Net borrowing −$17.1MFY2023: Capital spending −$32.7MFY2023: Acquisitions −$1.2M$74.2MFY2023FY2024: Operating cash flow $135MFY2024: Net borrowing −$15.5MFY2024: Capital spending −$32.3M$135MFY2024FY2025: Operating cash flow −$140MFY2025: Net borrowing $206MFY2025: Asset sales $8.9MFY2025: Capital spending −$30.0M$215MFY2025
Over these 5 years operating cash flow totalled $214M; the largest uses were acquisitions ($241M) and capital spending ($153M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$264M
Debt$731M
Net debt$467M
Due within a year$5.4M
Cash runway17 months

Unisys is burning cash: its operations consume cash, a free cash flow of −$186M a year at the current rate against $264M of cash and investments: a runway of about 17 months; $5.4M of debt also comes due within a year, which the cash covers before any new financing.

Unisys: debt maturities by year (FY2025)Unisys: debt maturities by year (FY2025)$5.4MYear 1$4.3MYear 2$2.4MYear 3$1.2MYear 4$700MAfter year 5
Principal due in each year as disclosed in the annual report, against $264M of cash and investments now.

Where the cash came from and went

Unisys: sources (+) and uses (−) of cash, Q3 2026Unisys: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$56.0MOperating cash flow−$35.8MOther investing−$11.0MCapital spending−$10.6MOther financing$3.8MNet borrowing (+) / repaid (−)−$2.3MExchange rates−$100K
Unisys: sources (+) and uses (−) of cash, TTM to Q3 2026Unisys: sources (+) and uses (−) of cash, TTM to Q3 2026Cash drawn (+) / kept (−)$54.0MCapital spending−$40.9MOperating cash flow$38.4MOther investing−$35.1MNet borrowing (+) / repaid (−)−$13.9MOther financing−$1.3MExchange rates−$1.2M

From profit to cash

Unisys: net income to operating cash flow, Q3 2026Unisys: net income to operating cash flow, Q3 2026Net income−$200MDepreciation & amortization$5.2MStock-based pay$2.6MDeferred taxes$4.0MOther non-cash$800KInventory−$3.8MPayables−$9.2MPrepaid and other assets$12.0MOther liabilities−$6.5MOperating cash flow−$35.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$35.8M−$10.6M−$2.3M$56.0M−$46.4M
Q2 2026−$26.3M−$12.0M−$4.7M$55.8M−$38.3M
Q1 2026−$4.4M−$10.7M−$4.8M$33.4M−$15.1M
Q4 2025$105M−$7.6M−$2.1M−$91.2M$97.3M
Q3 2025$38.0M−$5.6M−$1.4M−$21.5M$32.4M
Q2 2025−$316M−$7.9M−$487M$98.5M−$324M
Q1 2025$33.3M−$8.9M−$1.3M−$16.9M$24.4M
Q4 2024$76.6M−$10.1M−$3.6M−$8.9M$66.5M

Unisys: income statement and cash flow

Unisys, Q3 2026: revenue $472M (+2% year over year), operating margin 5.0%. The chart follows the revenue to costs, profit and cash.

Unisys: 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.