National Rural Utilities Cooper (NRUC) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 82.31M | -43.26M | 150.25M | 63.83M | 36.71M | 53.43M | 120.91M | 30.07M | 116.21M | 41.2M | 120.18M | 30.88M | 145.51M | 871K | 131.84M | -4.23M | 122.32M | 19.16M | 110.99M | 5.79M |
| Operating CF Margin % | 180.09% | -36.24% | 125.39% | 35.24% | -28.72% | 29.33% | 194.81% | 16.71% | 44.49% | 217.66% | 63.54% | 14.19% | 77.41% | 0.17% | 46.06% | -2.65% | -185.44% | 12.36% | 27.52% | 3.1% |
| Operating CF Growth % | 124.24% | -180.96% | 24.27% | 112.27% | -68.41% | 29.7% | 0.6% | -2.62% | -20.14% | 4629.62% | -8.84% | 830.02% | 18.97% | -95.45% | 18.79% | -173.12% | 17.58% | -0.55% | 8.39% | 356.54% |
| Net Income | 4.77M | 73.43M | 85.99M | 144.44M | -163.84M | 145.58M | 31.47M | 148.44M | 227.86M | -12.82M | 162.9M | 189.74M | 161.68M | 489.56M | 261.08M | 135.1M | -89.89M | 129.5M | 377.73M | 160.02M |
| Depreciation & Amortization | 12.12M | -37.58M | 12M | 11.43M | 11.17M | 10.41M | 2.57M | 2.62M | 2.72M | 902K | 1.27M | 1.24M | 1.31M | 1.74M | 1.84M | 1.96M | 2.02M | 2.13M | 2.19M | 1.82M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 69.14M | 3.83M | -28.24M | -82.2M | 257.08M | -101.76M | 87.82M | -109.85M | -109.73M | 63.98M | -29.04M | -144.94M | 2.86M | -489.5M | -128.97M | -139.12M | 208.56M | -116.44M | -262.26M | -155.67M |
| Working Capital Changes | -3.72M | -82.94M | 80.5M | -9.83M | -67.71M | -799K | -957K | -11.14M | -4.63M | -10.87M | -14.95M | -15.15M | -20.34M | -934K | -2.1M | -2.16M | 1.64M | 3.96M | -6.68M | -383K |
| Change in Receivables | -3.72M | -82.94M | 80.5M | -9.83M | -67.71M | 16.73M | -957K | -11.14M | -4.63M | -10.87M | -14.95M | -15.15M | -20.34M | -934K | -2.1M | -2.16M | 1.64M | 3.96M | -6.68M | -383K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -463.76M | -549.47M | -824.51M | -455.68M | -492.71M | -88.52M | -406M | -811.26M | -513.01M | -65.89M | -797.34M | -920.49M | -674.08M | -521.66M | -578.48M | -72.82M | -456.02M | -107.16M | -1.29B | -131.56M |
| Capital Expenditures | -320K | 3.65M | -1.27M | -1.11M | -1.27M | 4.2M | -1.52M | -1.6M | -1.08M | 6.87M | -4.35M | -5.7M | -4.53M | -5.36M | -3.64M | -4.59M | -4.14M | -4.71M | -2.47M | -1.84M |
| CapEx % of Revenue | 0.7% | 3.06% | 1.06% | 0.61% | -0.99% | 2.3% | 2.44% | 0.89% | 0.42% | 36.27% | 2.3% | 2.62% | 2.41% | 1.04% | 1.27% | 2.87% | -6.27% | 3.04% | 0.61% | 0.99% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 0 | 124.92M | 161.62M | 199.59M | 243.29M | 318.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -463.44M | -727.12M | -823.23M | -454.57M | -491.44M | -244.43M | -404.48M | -809.66M | -511.92M | -72.76M | -792.99M | -914.79M | -669.55M | -516.3M | -452.72M | 18.1M | -423.88M | -50.4M | -939.58M | 110.93M |
| Cash from Financing | 503.94M | 482.06M | 572.62M | 474.4M | 440.53M | 170.37M | 298.28M | 712.22M | 398.4M | 51.68M | 575.77M | 930.7M | 608M | 571.13M | 373.67M | -51.16M | 342.3M | 213.91M | 1.18B | -54.22M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 46.85M | 0 | -46.85M | 0 | 0 | -41.15M | -69.05M | 0 | 0 | -2.7M | -56.48M | 0 | 0 | -1K | -57.76M | 0 | -1K | -2.05M | -57.84M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 46.85M | 0 | -46.85M | 0 | 110.2M | -41.15M | -69.05M | 0 | 0 | -2.7M | -56.48M | 0 | 0 | -1K | -57.76M | 0 | -1K | -2.05M | -57.84M |
| Other Financing | -255.54M | 806.11M | -261.07M | 75.37M | 84.35M | -272M | -558.4M | 34.73M | 577.87M | -356.65M | -694.68M | 321.38M | 289.66M | 553.11M | -318.88M | -631.48M | 792.76M | 174.13M | -280.01M | 133.02M |
| Net Change in Cash | 122.49M | -110.67M | -101.64M | 82.55M | -15.47M | 135.28M | 13.19M | -68.97M | 1.6M | 26.98M | -101.39M | 41.1M | 79.44M | 50.34M | -72.97M | -128.21M | 8.6M | 125.91M | 262K | -180M |
| Free Cash Flow | 81.99M | -44.3M | 148.97M | 62.72M | 35.44M | 51.48M | 119.39M | 28.47M | 115.13M | 48.06M | 115.83M | 25.18M | 140.98M | -4.49M | 128.19M | -8.82M | 118.18M | 14.45M | 108.51M | 3.94M |
| FCF Margin % | 179.39% | -37.12% | 124.33% | 34.63% | -27.72% | 28.26% | 192.37% | 15.83% | 44.07% | 253.94% | 61.24% | 11.57% | 75% | -0.87% | 44.79% | -5.53% | -179.17% | 9.32% | 26.9% | 2.11% |
| FCF Growth % | 131.36% | -186.07% | 24.78% | 120.29% | -69.22% | 7.11% | 3.08% | 13.08% | -18.34% | 1169.66% | -9.65% | 385.62% | 19.3% | -131.09% | 18.14% | -323.76% | 14.53% | -19.05% | 8.01% | 173.17% |
| FCF per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| FCF Conversion (FCF/Net Income) | 17.27x | -0.59x | 1.75x | 0.44x | -0.22x | 0.37x | 3.84x | 0.20x | 0.51x | -3.21x | 0.74x | 0.16x | 0.90x | 0.00x | 0.50x | -0.03x | -1.36x | 0.15x | 0.29x | 0.04x |
| Interest Paid | 0 | -992.81M | 321.8M | 366.85M | 304.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |