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Select Water Solutions cash flow, quarter by quarter

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

Free cash flow$15.7M in Q2 2026 · −$82.0M over twelve months

Operating cash flow$86.7M
Capital spending−$71.0M
Free cash flow+$15.7M
Cash / net income3.8×

Analysis

In Q2 2026, Select Water Solutions generated $86.7M of operating cash flow and spent $71.0M on capital projects, leaving free cash flow of $15.7M. That is $12.5M more than in Q2 2025 ($3.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was $234M; the largest uses were capital spending ($316M), acquisitions ($78.6M), dividends ($35.1M); besides operations, cash came from other financing ($191M), asset & business sales ($8.0M); the cash balance fell by $17.8M.

Operating cash flow was $86.7M against net income of $22.6M — 3.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$48.4M, payables +$13.1M, prepaid and other assets −$11.8M.

Free cash flow

Select Water Solutions: free cash flow by quarterSelect Water Solutions: free cash flow by quarter$14.4MQ3 2024$3.8MQ4 2024−$53.5MQ1 2025$3.2MQ2 2025−$23.5MQ3 2025−$6.0MQ4 2025−$68.1MQ1 2026$15.7MQ2 2026
Operating cash flow less capital spending.
Select Water Solutions: operating cash flow against capital spendingSelect Water Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$51.9M$37.4MQ3 2024$67.8M$64.0MQ4 2024−$5.1M$48.4MQ1 2025$82.6M$79.4MQ2 2025$71.7M$95.2MQ3 2025$65.5M$71.5MQ4 2025$10.2M$78.4MQ1 2026$86.7M$71.0MQ2 2026
Latest (Q2 2026): Operating cash flow $86.7M, Capital spending $71.0M.

Capital allocation, year by year

Select Water Solutions: where the cash came from (up) and went (down), by fiscal yearSelect Water Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow −$16.2MFY2021: Net borrowing −$320KFY2021: Shares issued $58KFY2021: Asset sales $12.5MFY2021: Capital spending −$46.4MFY2021: Acquisitions −$34.7MFY2021: Buybacks −$1.2M$12.6MFY2021FY2022: Operating cash flow $33.2MFY2022: Net borrowing −$6.2MFY2022: Shares issued $53KFY2022: Asset sales $33.0MFY2022: Capital spending −$77.6MFY2022: Acquisitions −$7.0MFY2022: Buybacks −$20.2MFY2022: Dividends −$6.0M$66.3MFY2022FY2023: Operating cash flow $285MFY2023: Net borrowing −$16.1MFY2023: Asset sales $16.9MFY2023: Capital spending −$153MFY2023: Acquisitions −$17.7MFY2023: Buybacks −$61.8MFY2023: Dividends −$24.9M$302MFY2023FY2024: Operating cash flow $235MFY2024: Net borrowing $84.8MFY2024: Shares issued $50KFY2024: Asset sales $15.8MFY2024: Capital spending −$189MFY2024: Acquisitions −$161MFY2024: Buybacks −$7.9MFY2024: Dividends −$29.7M$336MFY2024FY2025: Operating cash flow $215MFY2025: Net borrowing $234MFY2025: Asset sales $15.3MFY2025: Capital spending −$295MFY2025: Acquisitions −$53.6MFY2025: Buybacks −$7.3MFY2025: Dividends −$33.7M$464MFY2025
Over these 5 years operating cash flow totalled $752M; the largest uses were capital spending ($761M) and acquisitions ($274M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$33.4M
Debt$263M
Net debt$230M
Due within a year$31.2M

Select Water Solutions's operations bring cash in ($234M over twelve months), and it spends more than that on capital projects: a gap of $82.0M funded from its $33.4M of cash and investments and from borrowing ($263M of debt, $31.2M due within a year). That is a choice to invest, not a cash runway running down.

Select Water Solutions: debt maturities by year (FY2025)Select Water Solutions: debt maturities by year (FY2025)$31.2MYear 1$62.5MYear 2$62.5MYear 3$62.5MYear 4$101MYear 5
Principal due in each year as disclosed in the annual report, against $33.4M of cash and investments now.

Where the cash came from and went

Select Water Solutions: sources (+) and uses (−) of cash, Q2 2026Select Water Solutions: sources (+) and uses (−) of cash, Q2 2026Operating cash flow$86.7MCapital spending−$71.0MAcquisitions−$42.0MCash drawn (+) / kept (−)$22.6MOther financing$13.3MDividends−$9.6MAsset & business sales$1.3MBuybacks−$621KOther investing−$500KNet borrowing (+) / repaid (−)−$161KShares issued−$75KExchange rates−$1K
Select Water Solutions: sources (+) and uses (−) of cash, TTM to Q2 2026Select Water Solutions: sources (+) and uses (−) of cash, TTM to Q2 2026Capital spending−$316MOperating cash flow$234MOther financing$191MAcquisitions−$78.6MDividends−$35.1MCash drawn (+) / kept (−)$17.8MNet borrowing (+) / repaid (−)−$12.6MBuybacks−$8.9MAsset & business sales$8.0MPartners$500KOther investing−$500KExchange rates−$6K

From profit to cash

Select Water Solutions: net income to operating cash flow, Q2 2026Select Water Solutions: net income to operating cash flow, Q2 2026Net income$22.6MDepreciation & amortization$48.4MStock-based pay$8.4MDeferred taxes$6.4MImpairments$239KGains on disposals−$164KReceivables−$1.7MPayables$13.1MPrepaid and other assets−$11.8MOperating cash flow$86.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$86.7M−$71.0M−$42.0M−$621K−$9.6M−$161K−$75K$22.6M$15.7M
Q1 2026$10.2M−$78.4M−$210K−$7.6M−$8.8M−$70.2M$192M−$37.9M−$68.1M
Q4 2025$65.5M−$71.5M−$1.3M−$377K−$8.4M$14.8M—−$256K−$6.0M
Q3 2025$71.7M−$95.2M−$35.1M−$332K−$8.4M$29.9M—$33.4M−$23.5M
Q2 2025$82.6M−$79.4M−$3.2M−$286K−$8.3M$24.8M—−$23.3M$3.2M
Q1 2025−$5.1M−$48.4M−$14.0M−$6.3M−$8.6M$165M—−$7.9M−$53.5M
Q4 2024$67.8M−$64.0M−$2.8M−$589K−$8.2M$4.9M—−$9.0M$3.8M
Q3 2024$51.9M−$37.4M−$8.7M−$171K−$7.0M−$10.0M—$5.5M$14.4M

Select Water Solutions: income statement and cash flow

Select Water Solutions, Q2 2026: revenue $396M (+9% year over year), operating margin 8.7%. The chart follows the revenue to costs, profit and cash.

Select Water Solutions: 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.