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Venture Global cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$1.6B in Q2 2026 · −$7.0B over twelve months

Operating cash flow$2.1B
Capital spending−$3.7B
Free cash flow−$1.6B
Cash / net income1.5×
Cash conversion cycle-14 days

Analysis

In Q2 2026, Venture Global generated $2.1B of operating cash flow and spent $3.7B on capital projects, leaving free cash flow of −$1.6B. That is $125M less than in Q2 2025 (−$1.5B).

Over the twelve months to Jun 30, 2026, operating cash flow was $6.8B; the largest uses were capital spending ($13.8B), net borrowing (+) / repaid (−) ($12.3B); besides operations, cash came from other financing ($20.7B), other investing ($328M); the cash balance rose by $1.7B.

Operating cash flow was $2.1B against net income of $1.4B — 1.5× profit, cash ran ahead of reported earnings. The largest differences: deferred taxes +$296M, depreciation & amortization +$260M, payables +$152M.

Its cash conversion cycle was -14 days (receivables 16 + inventory 15 − payables 45): suppliers fund its working capital.

Free cash flow

Venture Global: free cash flow by quarterVenture Global: free cash flow by quarter−$3.5BQ3 2024−$3.0BQ4 2024−$2.4BQ1 2025−$1.5BQ2 2025−$1.4BQ3 2025−$1.5BQ4 2025−$2.4BQ1 2026−$1.6BQ2 2026
Operating cash flow less capital spending.
Venture Global: operating cash flow against capital spendingVenture Global: operating cash flow against capital spendingOperating cash flowCapital spending$280M$3.8BQ3 2024$673M$3.7BQ4 2024$1.1B$3.5BQ1 2025$1.5B$3.0BQ2 2025$1.9B$3.3BQ3 2025$2.1B$3.6BQ4 2025$763M$3.2BQ1 2026$2.1B$3.7BQ2 2026
Latest (Q2 2026): Operating cash flow $2.1B, Capital spending $3.7B.

Capital allocation, year by year

Venture Global: where the cash came from (up) and went (down), by fiscal yearVenture Global: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY2023: Operating cash flow $4.5BFY2023: Net borrowing −$5.9BFY2023: Capital spending −$8.1BFY2023: Dividends −$164M$4.5BFY2023FY2024: Operating cash flow $2.1BFY2024: Net borrowing −$905MFY2024: Capital spending −$13.7BFY2024: Dividends −$139M$2.1BFY2024FY2025: Operating cash flow $6.6BFY2025: Net borrowing −$11.1BFY2025: Shares issued $1.8BFY2025: Capital spending −$13.4BFY2025: Dividends −$465M$8.4BFY2025
Over these 3 years operating cash flow totalled $13.3B; the largest uses were capital spending ($35.2B) and net borrowing ($17.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.1B
Debt$41.8B
Net debt$38.7B
Due within a year$817M

Venture Global's operations bring cash in ($6.8B over twelve months), and it spends more than that on capital projects: a gap of $7.0B funded from its $3.1B of cash and investments and from borrowing ($41.8B of debt, $817M due within a year). That is a choice to invest, not a cash runway running down.

Venture Global: debt maturities by year (FY2025)Venture Global: debt maturities by year (FY2025)$817MYear 1$310MYear 2$5.5BYear 3$6.5BYear 4$4.4BYear 5$17.3BAfter year 5
Principal due in each year as disclosed in the annual report, against $3.1B of cash and investments now.

Where the cash came from and went

Venture Global: sources (+) and uses (−) of cash, Q2 2026Venture Global: sources (+) and uses (−) of cash, Q2 2026Other financing$6.8BCapital spending−$3.7BNet borrowing (+) / repaid (−)−$3.7BOperating cash flow$2.1BCash drawn (+) / kept (−)−$1.5BOther investing$42.0M
Venture Global: sources (+) and uses (−) of cash, TTM to Q2 2026Venture Global: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$20.7BCapital spending−$13.8BNet borrowing (+) / repaid (−)−$12.3BOperating cash flow$6.8BCash drawn (+) / kept (−)−$1.7BOther investing$328M

From profit to cash

Venture Global: net income to operating cash flow, Q2 2026Venture Global: net income to operating cash flow, Q2 2026Net income$1.4BDepreciation & amortization$260MStock-based pay$15.0MDeferred taxes$296MReceivables−$34.0MInventory−$46.0MPayables$152MPrepaid and other assets−$24.0MOther operating capital−$12.0MOperating cash flow$2.1B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026161545-14
Q1 202617825-0
Q4 2025161138-11
Q3 2025181451-20
Q2 2025191245-13
Q1 2025161599-68

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$2.1B−$3.7B—−$3.7B—−$1.5B−$1.6B
Q1 2026$763M−$3.2B−$180M−$388M—$374M−$2.4B
Q4 2025$2.1B−$3.6B−$42.0M−$3.4B—$117M−$1.5B
Q3 2025$1.9B−$3.3B−$176M−$1.3B—−$620M−$1.4B
Q2 2025$1.5B−$3.0B−$57.0M−$2.8B—$1.1B−$1.5B
Q1 2025$1.1B−$3.5B−$190M$337M$1.8B$580M−$2.4B
Q4 2024$673M−$3.7B−$56.0M−$46.0M—$1.0B−$3.0B
Q3 2024$280M−$3.8B−$54.0M$316M—−$1.2B−$3.5B

Venture Global: income statement and cash flow

Venture Global, Q2 2026: revenue $4.6B (+48% year over year), operating margin 47.8%. The chart follows the revenue to costs, profit and cash.

Venture Global: 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.