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Wolfspeed cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$94.8M in Q1 FY27

Operating cash flow−$84.2M
Capital spending−$10.6M
Free cash flow−$94.8M
Cash conversion cycle157 days

Analysis

In Q1 FY27, Wolfspeed generated −$84.2M of operating cash flow and spent $10.6M on capital projects, leaving free cash flow of −$94.8M.

Operating cash flow was −$84.2M against net income of −$144M. The largest differences: depreciation & amortization +$29.2M, inventory +$24.5M, receivables −$11.1M.

Its cash conversion cycle was 157 days (receivables 61 + inventory 105 − payables 10).

Free cash flow

Wolfspeed: free cash flow by quarterWolfspeed: free cash flow by quarter−$363MQ3 FY25−$454MQ4 FY25−$98.3MQ1 FY26−$126MQ1 FY26−$72.6MQ2 FY26−$122MQ3 FY26−$59.5MQ4 FY26−$94.8MQ1 FY27
Operating cash flow less capital spending.
Wolfspeed: operating cash flow against capital spendingWolfspeed: operating cash flow against capital spendingOperating cash flowCapital spending−$142M$221MQ3 FY25−$242M$212MQ4 FY25$5.7M$104MQ1 FY26−$22.4M$104MQ1 FY26−$42.6M$30.0MQ2 FY26−$83.8M$37.8MQ3 FY26−$54.4M$5.1MQ4 FY26−$84.2M$10.6MQ1 FY27
Latest (Q1 FY27): Operating cash flow −$84.2M, Capital spending $10.6M.

Capital allocation, year by year

Wolfspeed: where the cash came from (up) and went (down), by fiscal yearWolfspeed: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingFY21: Operating cash flow −$126MFY21: Shares issued $540MFY21: Asset sales $46.0MFY21: Capital spending −$570M$586MFY21FY22: Operating cash flow −$154MFY22: Net borrowing $729MFY22: Shares issued $22.4MFY22: Asset sales $128MFY22: Capital spending −$637M$880MFY22FY23: Operating cash flow −$143MFY23: Net borrowing $1.7BFY23: Shares issued $23.8MFY23: Asset sales $104MFY23: Capital spending −$950M$1.9BFY23FY24: Operating cash flow −$726MFY24: Net borrowing −$400KFY24: Shares issued $23.4MFY24: Asset sales $76.0MFY24: Capital spending −$2.3B$99.4MFY24FY25: Operating cash flow −$712MFY25: Net borrowing −$500KFY25: Shares issued $204MFY25: Asset sales $85.9MFY25: Capital spending −$1.3B$290MFY25
Over these 5 years operating cash flow totalled −$1.9B; the largest uses were capital spending ($5.7B) and operating cash flow ($1.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$995M
Debt$1.7B
Net debt$686M
Cash runway2.6 years

Wolfspeed is burning cash: its operations consume cash, a free cash flow of −$379M a year at the current rate against $995M of cash and investments: a runway of about 2.6 years before any new financing.

Where the cash came from and went

Wolfspeed: sources (+) and uses (−) of cash, Q1 FY27Wolfspeed: sources (+) and uses (−) of cash, Q1 FY27Cash drawn (+) / kept (−)$165MOperating cash flow−$84.2MOther investing−$73.2MCapital spending−$10.6MAsset & business sales$3.7MTaxes on employees’ shares−$900KExchange rates$500KOther financing−$200KNet borrowing (+) / repaid (−)−$100K

From profit to cash

Wolfspeed: net income to operating cash flow, Q1 FY27Wolfspeed: net income to operating cash flow, Q1 FY27Net income−$144MDepreciation & amortization$29.2MStock-based pay$10.3MDeferred taxes$200KGains on disposals−$3.2MReceivables−$11.1MInventory$24.5MPayables$3.7MAccrued liabilities$900KDeferred revenue−$2.5MPrepaid and other assets$200KOperating cash flow−$84.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY276110510157
Q4 FY26591269176
Q3 FY266214413193
Q2 FY267013011190
Q1 FY26781399208
Q1 FY26771369205
Q4 FY257918318244
Q3 FY257820525258

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27−$84.2M−$10.6M−$100K—$165M−$94.8M
Q4 FY26−$54.4M−$5.1M$6.3M—$119M−$59.5M
Q3 FY26−$83.8M−$37.8M−$465M—$334M−$122M
Q2 FY26−$42.6M−$30.0M——−$548M−$72.6M
Q1 FY26−$22.4M−$104M−$309M—−$13.8M−$126M
Q1 FY26$5.7M−$104M−$100K—−$104M−$98.3M
Q4 FY25−$242M−$212M−$400K—$263M−$454M
Q3 FY25−$142M−$221M—$104M−$116M−$363M

Wolfspeed: income statement and cash flow

Wolfspeed, Q1 FY27: revenue $155M (-21% year over year), operating margin -72.8%. The chart follows the revenue to costs, profit and cash.

Wolfspeed: 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.