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Urban Outfitters cash flow, quarter by quarter

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

Free cash flow$301M in Q2 FY27 · $295M over twelve months

Operating cash flow$376M
Capital spending−$74.8M
Free cash flow+$301M
Cash / net income1.6×
Cash conversion cycle45 days

Analysis

In Q2 FY27, Urban Outfitters generated $376M of operating cash flow and spent $74.8M on capital projects, leaving free cash flow of $301M. That is $145M more than in Q2 FY26 ($157M).

Over the twelve months to Jul 31, 2026, operating cash flow was $716M; the largest uses were capital spending ($421M), buybacks ($302M), taxes on employees’ shares ($22.9M); besides operations, cash came from other investing ($311M); the cash balance rose by $267M.

Operating cash flow was $376M against net income of $241M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: inventory −$52.4M, depreciation & amortization +$37.6M, prepaid and other assets +$34.9M.

Its cash conversion cycle was 45 days (receivables 6 + inventory 74 − payables 35).

Free cash flow

Urban Outfitters: free cash flow by quarterUrban Outfitters: free cash flow by quarter−$26.6MQ3 FY25$282MQ4 FY25−$13.1MQ1 FY26$157MQ2 FY26−$22.8MQ3 FY26$194MQ4 FY26−$178MQ1 FY27$301MQ2 FY27
Operating cash flow less capital spending.
Urban Outfitters: operating cash flow against capital spendingUrban Outfitters: operating cash flow against capital spendingOperating cash flowCapital spending$18.5M$45.2MQ3 FY25$320M$38.5MQ4 FY25$33.0M$46.2MQ1 FY26$218M$61.4MQ2 FY26$61.1M$83.9MQ3 FY26$263M$68.7MQ4 FY26$15.5M$193MQ1 FY27$376M$74.8MQ2 FY27
Latest (Q2 FY27): Operating cash flow $376M, Capital spending $74.8M.

Capital allocation, year by year

Urban Outfitters: where the cash came from (up) and went (down), by fiscal yearUrban Outfitters: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingBuybacksFY22: Operating cash flow $359MFY22: Shares issued $3.3MFY22: Capital spending −$262MFY22: Buybacks −$55.8M$363MFY22FY23: Operating cash flow $143MFY23: Shares issued $376KFY23: Capital spending −$200MFY23: Buybacks −$112M$143MFY23FY24: Operating cash flow $509MFY24: Shares issued $594KFY24: Capital spending −$200M$510MFY24FY25: Operating cash flow $503MFY25: Shares issued $851KFY25: Capital spending −$183MFY25: Buybacks −$52.3M$504MFY25FY26: Operating cash flow $575MFY26: Shares issued $928KFY26: Capital spending −$260MFY26: Buybacks −$154M$576MFY26
Over these 5 years operating cash flow totalled $2.1B; the largest uses were capital spending ($1.1B) and buybacks ($374M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$716M
Debtnone
Net cash$716M

Urban Outfitters funds itself: free cash flow was $295M over the last twelve months, with $716M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Urban Outfitters: sources (+) and uses (−) of cash, Q2 FY27Urban Outfitters: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$376MCash drawn (+) / kept (−)−$297MCapital spending−$74.8MOther financing−$3.9MOther investing$1.7MNot reconciled−$1.2MTaxes on employees’ shares−$579K
Urban Outfitters: sources (+) and uses (−) of cash, TTM to Q2 FY27Urban Outfitters: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$716MCapital spending−$421MOther investing$311MBuybacks−$302MCash drawn (+) / kept (−)−$267MTaxes on employees’ shares−$22.9MOther financing−$15.8MNot reconciled$1.5M

From profit to cash

Urban Outfitters: net income to operating cash flow, Q2 FY27Urban Outfitters: net income to operating cash flow, Q2 FY27Net income$241MDepreciation & amortization$37.6MStock-based pay$7.6MDeferred taxes−$16.1MGains on disposals$8KReceivables$12.8MInventory−$52.4MPrepaid and other assets$34.9MOperating cash flow$376M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY276743545
Q1 FY276683143
Q4 FY265592737
Q3 FY266733445
Q2 FY266673141
Q1 FY266683242
Q4 FY255592736
Q3 FY256743545

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$376M−$74.8M——−$297M$301M
Q1 FY27$15.5M−$193M−$300M—$67.8M−$178M
Q4 FY26$263M−$68.7M−$2.0M—−$62.6M$194M
Q3 FY26$61.1M−$83.9M——$25.6M−$22.8M
Q2 FY26$218M−$61.4M—$928K−$143M$157M
Q1 FY26$33.0M−$46.2M−$152M—$101M−$13.1M
Q4 FY25$320M−$38.5M——−$108M$282M
Q3 FY25$18.5M−$45.2M——$26.6M−$26.6M

Urban Outfitters: income statement and cash flow

Urban Outfitters, Q2 FY27: revenue $1.7B (+10% year over year), operating margin 17.4%. The chart follows the revenue to costs, profit and cash.

Urban Outfitters: 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.