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Ziff Davis cash flow, quarter by quarter

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

Free cash flow−$100M in Q3 2026 · $108M over twelve months

Operating cash flow−$77.1M
Capital spending−$23.0M
Free cash flow−$100M
Cash conversion cycle-151 days

Analysis

In Q3 2026, Ziff Davis generated −$77.1M of operating cash flow and spent $23.0M on capital projects, leaving free cash flow of −$100M. That is $208M less than in Q3 2025 ($108M).

Over the twelve months to Sep 30, 2026, operating cash flow was $233M; the largest uses were buybacks ($326M), capital spending ($124M), other financing ($12.2M); besides operations, cash came from other investing ($1.1B), shares issued ($6.3M); the cash balance rose by $904M.

Operating cash flow was −$77.1M against net income of −$28.7M. The largest differences: payables +$57.8M, depreciation & amortization +$45.7M, impairments +$29.6M.

Its cash conversion cycle was -151 days (receivables 130 + inventory 0 − payables 281): suppliers fund its working capital.

Free cash flow

Ziff Davis: free cash flow by quarterZiff Davis: free cash flow by quarter$131MQ4 2024−$5.0MQ1 2025$26.9MQ2 2025$108MQ3 2025$158MQ4 2025−$3.2MQ1 2026$54.0MQ2 2026−$100MQ3 2026
Operating cash flow less capital spending.
Ziff Davis: operating cash flow against capital spendingZiff Davis: operating cash flow against capital spendingOperating cash flowCapital spending$158M$27.2MQ4 2024$20.6M$25.6MQ1 2025$57.1M$30.1MQ2 2025$138M$30.1MQ3 2025$191M$33.3MQ4 2025$30.0M$33.1MQ1 2026$89.0M$35.0MQ2 2026−$77.1M$23.0MQ3 2026
Latest (Q3 2026): Operating cash flow −$77.1M, Capital spending $23.0M.

Capital allocation, year by year

Ziff Davis: where the cash came from (up) and went (down), by fiscal yearZiff Davis: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $517MFY2021: Net borrowing −$512MFY2021: Shares issued $2.9MFY2021: Asset sales $48.9MFY2021: Capital spending −$114MFY2021: Acquisitions −$141MFY2021: Buybacks −$78.3M$568MFY2021FY2022: Operating cash flow $336MFY2022: Net borrowing −$54.6MFY2022: Shares issued $148KFY2022: Capital spending −$106MFY2022: Acquisitions −$104MFY2022: Buybacks −$78.3M$337MFY2022FY2023: Operating cash flow $320MFY2023: Capital spending −$109MFY2023: Acquisitions −$9.5MFY2023: Buybacks −$109M$320MFY2023FY2024: Operating cash flow $390MFY2024: Net borrowing −$135MFY2024: Asset sales $7.9MFY2024: Capital spending −$107MFY2024: Acquisitions −$218MFY2024: Buybacks −$185M$398MFY2024FY2025: Operating cash flow $407MFY2025: Shares issued $6.5MFY2025: Asset sales $3.6MFY2025: Capital spending −$119MFY2025: Acquisitions −$67.3MFY2025: Buybacks −$174M$417MFY2025
Over these 5 years operating cash flow totalled $2.0B; the largest uses were net borrowing ($702M) and buybacks ($624M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.4B
Debt$868M
Net cash$539M
Due within a year$149M

Ziff Davis funds itself: free cash flow was $108M over the last twelve months, and $1.4B of cash and investments stands against $868M of debt ($149M due within a year, 9.4× covered by cash).

Where the cash came from and went

Ziff Davis: sources (+) and uses (−) of cash, Q3 2026Ziff Davis: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$198MBuybacks−$92.0MOperating cash flow−$77.1MCapital spending−$23.0MOther financing−$7.0MExchange rates$595K
Ziff Davis: sources (+) and uses (−) of cash, TTM to Q3 2026Ziff Davis: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$1.1BCash drawn (+) / kept (−)−$904MBuybacks−$326MOperating cash flow$233MCapital spending−$124MOther financing−$12.2MAcquisitions−$8.3MShares issued$6.3MExchange rates−$2.4M

From profit to cash

Ziff Davis: net income to operating cash flow, Q3 2026Ziff Davis: net income to operating cash flow, Q3 2026Net income−$28.7MDepreciation & amortization$45.7MStock-based pay$12.8MDeferred taxes−$4.5MImpairments$29.6MReceivables$16.9MPayables$57.8MDeferred revenue−$5.0MPrepaid and other assets−$603KOther liabilities−$12.0MOperating cash flow−$77.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026130—281-151
Q2 2026130—266-137
Q1 2026172—270-99
Q4 202587—165-78
Q3 2025149—301-152
Q2 2025161—315-154
Q1 2025194—340-146
Q4 2024126—463-337

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$77.1M−$23.0M—−$92.0M—$198M−$100M
Q2 2026$89.0M−$35.0M−$8.0M−$121M—−$1.1B$54.0M
Q1 2026$30.0M−$33.1M—−$51.6M—$61.2M−$3.2M
Q4 2025$191M−$33.3M−$254K−$60.6M$2.8M−$104M$158M
Q3 2025$138M−$30.1M−$16.7M−$44.4M—−$46.1M$108M
Q2 2025$57.1M−$30.1M−$11.1M−$33.9M—−$26.3M$26.9M
Q1 2025$20.6M−$25.6M−$39.2M−$34.9M—$74.9M−$5.0M
Q4 2024$158M−$27.2M−$6.0M−$1.2M$3.8M−$120M$131M

Ziff Davis: income statement and cash flow

Ziff Davis, Q3 2026: revenue $289M (-6% year over year), operating margin -11.6%. The chart follows the revenue to costs, profit and cash.

Ziff Davis: 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.