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Universal Technical Institute cash flow, quarter by quarter

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

Free cash flow−$17.9M in Q3 FY26 · −$22.9M over twelve months

Operating cash flow$10.3M
Capital spending−$28.2M
Free cash flow−$17.9M
Cash / net income4.5×

Analysis

In Q3 FY26, Universal Technical Institute generated $10.3M of operating cash flow and spent $28.2M on capital projects, leaving free cash flow of −$17.9M. That is $24.8M less than in Q3 FY25 ($6.8M).

Over the twelve months to Jun 30, 2026, operating cash flow was $74.5M; the largest uses were capital spending ($97.4M), taxes on employees’ shares ($8.8M), other financing ($1.8M); besides operations, cash came from net borrowing (+) / repaid (−) ($88.0M), other investing ($8.0M); the cash balance rose by $62.5M.

Operating cash flow was $10.3M against net income of $2.3M — 4.5× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$10.4M, payables +$5.3M, prepaid and other assets −$3.6M.

Free cash flow

Universal Technical Institute: free cash flow by quarterUniversal Technical Institute: free cash flow by quarter$60.0MQ4 FY24$19.6MQ1 FY25−$11.7MQ2 FY25$6.8MQ3 FY25$40.6MQ4 FY25−$19.2MQ1 FY26−$26.4MQ2 FY26−$17.9MQ3 FY26
Operating cash flow less capital spending.
Universal Technical Institute: operating cash flow against capital spendingUniversal Technical Institute: operating cash flow against capital spendingOperating cash flowCapital spending$67.5M$7.5MQ4 FY24$23.0M$3.3MQ1 FY25−$789K$10.9MQ2 FY25$18.1M$11.2MQ3 FY25$57.1M$16.5MQ4 FY25$3.1M$22.2MQ1 FY26$4.0M$30.4MQ2 FY26$10.3M$28.2MQ3 FY26
Latest (Q3 FY26): Operating cash flow $10.3M, Capital spending $28.2M.

Capital allocation, year by year

Universal Technical Institute: where the cash came from (up) and went (down), by fiscal yearUniversal Technical Institute: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY21: Operating cash flow $55.2MFY21: Net borrowing $31.0MFY21: Asset sales $280KFY21: Capital spending −$61.3M$86.5MFY21FY22: Operating cash flow $46.0MFY22: Net borrowing $37.9MFY22: Asset sales $7KFY22: Capital spending −$79.5MFY22: Acquisitions −$26.5M$84.0MFY22FY23: Operating cash flow $49.1MFY23: Net borrowing $89.3MFY23: Capital spending −$56.7MFY23: Acquisitions −$16.4M$138MFY23FY24: Operating cash flow $85.9MFY24: Net borrowing −$34.8MFY24: Capital spending −$24.3M$85.9MFY24FY25: Operating cash flow $97.3MFY25: Net borrowing −$36.9MFY25: Shares issued $659KFY25: Capital spending −$42.0M$98.0MFY25
Over these 5 years operating cash flow totalled $334M; the largest uses were capital spending ($264M) and net borrowing ($71.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$170M
Debt$160M
Net cash$10.1M
Due within a year$2.9M

Universal Technical Institute's operations bring cash in ($74.5M over twelve months), and it spends more than that on capital projects: a gap of $22.9M funded from its $170M of cash and investments and from borrowing ($160M of debt, $2.9M due within a year). That is a choice to invest, not a cash runway running down.

Universal Technical Institute: debt maturities by year (FY25)Universal Technical Institute: debt maturities by year (FY25)$2.9MYear 1$3.0MYear 2$47.8MYear 3$33.6MYear 4
Principal due in each year as disclosed in the annual report, against $170M of cash and investments now.

Where the cash came from and went

Universal Technical Institute: sources (+) and uses (−) of cash, Q3 FY26Universal Technical Institute: sources (+) and uses (−) of cash, Q3 FY26Cash drawn (+) / kept (−)−$42.3MOther investing$31.9MNet borrowing (+) / repaid (−)$29.7MCapital spending−$28.2MOperating cash flow$10.3MTaxes on employees’ shares−$995KOther financing−$459K
Universal Technical Institute: sources (+) and uses (−) of cash, TTM to Q3 FY26Universal Technical Institute: sources (+) and uses (−) of cash, TTM to Q3 FY26Capital spending−$97.4MNet borrowing (+) / repaid (−)$88.0MOperating cash flow$74.5MCash drawn (+) / kept (−)−$62.5MTaxes on employees’ shares−$8.8MOther investing$8.0MOther financing−$1.8M

From profit to cash

Universal Technical Institute: net income to operating cash flow, Q3 FY26Universal Technical Institute: net income to operating cash flow, Q3 FY26Net income$2.3MDepreciation & amortization$10.4MStock-based pay$3.0MDeferred taxes$463KPayables$5.3MDeferred revenue−$3.3MPrepaid and other assets−$3.6MOther liabilities−$596KIncome taxes payable$1.3MOperating cash flow$10.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$10.3M−$28.2M$29.7M—−$42.3M−$17.9M
Q2 FY26$4.0M−$30.4M$29.7M—$3.9M−$26.4M
Q1 FY26$3.1M−$22.2M$14.8M—$36.7M−$19.2M
Q4 FY25$57.1M−$16.5M$13.8M—−$60.7M$40.6M
Q3 FY25$18.1M−$11.2M−$20.2M—$27.1M$6.8M
Q2 FY25−$789K−$10.9M−$25.2M—$77.2M−$11.7M
Q1 FY25$23.0M−$3.3M−$5.2M$659K−$10.3M$19.6M
Q4 FY24$67.5M−$7.5M−$11.2M—−$48.4M$60.0M

Universal Technical Institute: income statement and cash flow

Universal Technical Institute, Q3 FY26: revenue $219M (+7% year over year), operating margin 1.5%. The chart follows the revenue to costs, profit and cash.

Universal Technical Institute: 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.