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Xylem cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$242M in Q3 2026 · $921M over twelve months

Operating cash flow$331M
Capital spending−$89.0M
Free cash flow+$242M
Cash / net income1.1×
Cash conversion cycle80 days

Analysis

In Q3 2026, Xylem generated $331M of operating cash flow and spent $89.0M on capital projects, leaving free cash flow of $242M. That is $39.0M less than in Q3 2025 ($281M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.3B; the largest uses were buybacks ($1.6B), acquisitions ($475M), dividends ($405M); besides operations, cash came from net borrowing (+) / repaid (−) ($957M), asset & business sales ($110M); the cash balance fell by $483M.

Operating cash flow was $331M against net income of $288M — 1.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$137M, receivables −$59.0M, inventory −$31.0M.

Its cash conversion cycle was 80 days (receivables 80 + inventory 74 − payables 74).

Free cash flow

Xylem: free cash flow by quarterXylem: free cash flow by quarter$475MQ4 2024−$38.0MQ1 2025$207MQ2 2025$281MQ3 2025$460MQ4 2025$18.0MQ1 2026$201MQ2 2026$242MQ3 2026
Operating cash flow less capital spending.
Xylem: operating cash flow against capital spendingXylem: operating cash flow against capital spendingOperating cash flowCapital spending$575M$100MQ4 2024$33.0M$71.0MQ1 2025$305M$98.0MQ2 2025$360M$79.0MQ3 2025$543M$83.0MQ4 2025$108M$90.0MQ1 2026$290M$89.0MQ2 2026$331M$89.0MQ3 2026
Latest (Q3 2026): Operating cash flow $331M, Capital spending $89.0M.

Capital allocation, year by year

Xylem: where the cash came from (up) and went (down), by fiscal yearXylem: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $538MFY2021: Net borrowing −$601MFY2021: Shares issued $19.0MFY2021: Asset sales $13.0MFY2021: Capital spending −$208MFY2021: Buybacks −$68.0MFY2021: Dividends −$203M$570MFY2021FY2022: Operating cash flow $596MFY2022: Net borrowing −$527MFY2022: Shares issued $8.0MFY2022: Asset sales $5.0MFY2022: Capital spending −$208MFY2022: Buybacks −$52.0MFY2022: Dividends −$217M$609MFY2022FY2023: Operating cash flow $837MFY2023: Net borrowing $118MFY2023: Shares issued $62.0MFY2023: Asset sales $106MFY2023: Capital spending −$271MFY2023: Acquisitions −$476MFY2023: Buybacks −$25.0MFY2023: Dividends −$299M$1.1BFY2023FY2024: Operating cash flow $1.3BFY2024: Net borrowing −$285MFY2024: Shares issued $67.0MFY2024: Asset sales $15.0MFY2024: Capital spending −$321MFY2024: Acquisitions −$193MFY2024: Buybacks −$20.0MFY2024: Dividends −$350M$1.3BFY2024FY2025: Operating cash flow $1.2BFY2025: Net borrowing −$82.0MFY2025: Shares issued $20.0MFY2025: Asset sales $66.0MFY2025: Capital spending −$331MFY2025: Acquisitions −$163MFY2025: Buybacks −$15.0MFY2025: Dividends −$391M$1.3BFY2025
Over these 5 years operating cash flow totalled $4.5B; the largest uses were net borrowing ($1.5B) and dividends ($1.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$708M
Debt$3.5B
Net debt$2.8B
Due within a year$534M

Xylem funds itself: free cash flow was $921M over the last twelve months, and $708M of cash and investments stands against $3.5B of debt ($534M due within a year, 1.3× covered by cash).

Xylem: debt maturities by year (FY2025)Xylem: debt maturities by year (FY2025)$534MYear 1$11.0MYear 2$508MYear 3$1.0MYear 4$900MAfter year 5
Principal due in each year as disclosed in the annual report, against $708M of cash and investments now.

Where the cash came from and went

Xylem: sources (+) and uses (−) of cash, Q3 2026Xylem: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$568MAcquisitions−$424MBuybacks−$337MOperating cash flow$331MDividends−$100MCapital spending−$89.0MOther investing$56.0MOther financing−$11.0MExchange rates$8.0MNet borrowing (+) / repaid (−)−$4.0MAsset & business sales$1.0MShares issued$1.0M
Xylem: sources (+) and uses (−) of cash, TTM to Q3 2026Xylem: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$1.6BOperating cash flow$1.3BNet borrowing (+) / repaid (−)$957MCash drawn (+) / kept (−)$483MAcquisitions−$475MDividends−$405MCapital spending−$351MAsset & business sales$110MOther financing−$37.0MOther investing$20.0MExchange rates−$16.0MShares issued$12.0M

From profit to cash

Xylem: net income to operating cash flow, Q3 2026Xylem: net income to operating cash flow, Q3 2026Net income$288MDepreciation & amortization$137MStock-based pay$14.0MOther non-cash−$5.0MReceivables−$59.0MInventory−$31.0MIncome taxes payable$13.0MOperating cash flow$331M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202680747480
Q2 202672676672
Q1 202675676775
Q4 202568636270
Q3 202574706777
Q2 202571686574
Q1 202574706876
Q4 202469696474

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$331M−$89.0M−$424M−$337M−$100M−$4.0M$1.0M$568M$242M
Q2 2026$290M−$89.0M−$1.0M−$680M−$101M−$2.0M$2.0M−$468M$201M
Q1 2026$108M−$90.0M—−$563M−$106M−$4.0M—$671M$18.0M
Q4 2025$543M−$83.0M−$50.0M−$1.0M−$98.0M−$22.0M$9.0M−$288M$460M
Q3 2025$360M−$79.0M−$106M−$1.0M−$97.0M−$35.0M$3.0M−$21.0M$281M
Q2 2025$305M−$98.0M——−$98.0M−$21.0M$2.0M−$111M$207M
Q1 2025$33.0M−$71.0M−$7.0M−$13.0M−$98.0M−$3.0M$6.0M$62.0M−$38.0M
Q4 2024$575M−$100M−$188M−$1.0M−$87.0M−$4.0M$1.0M−$132M$475M

Xylem: income statement and cash flow

Xylem, Q3 2026: revenue $2.2B (-3% year over year), operating margin 17.5%. The chart follows the revenue to costs, profit and cash.

Xylem: 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.