Blue Bird (BLBD) Cash Flow: Operating & Free Cash Flow

Blue Bird Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Blue Bird Corporation (BLBD) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Sep 2025	Sep 2024	Sep 2023	Oct 2022	Sep 2022	Oct 2021	Sep 2021	Sep 2020	Sep 2019	Sep 2018	Sep 2017
Operating Activities
Net Income	127.72	105.55	23.81	-45.76	-45.76	-0.29	-0.29	12.19	24.30	30.82	28.80
Depreciation & Amortization	15.59	14.82	15.98	14.05	14.05	13.45	13.45	14.40	10.38	9.04	8.18
Deferred Income Tax	2.94	-1.67	8.07	-	-11.07	-	-0.93	0.03	6.63	5.66	-1.20
Stock Based Compensation	14.79	8.61	4.17	3.69	3.69	5.94	5.94	4.14	4.27	2.63	1.27
Change in Working Capital	16.33	-12.52	71.59	-7.43	-7.43	-76.45	-76.45	-29.38	3.41	-4.59	-8.23
Change in Accounts Receivable	38.45	-46.53	-0.04	-2.57	-2.57	-2.35	-2.35	2.91	13.53	-13.92	10.17
Change in Inventory	-11.67	7.49	7.69	-26.52	-26.52	-68.68	-68.68	22.31	-21.50	17.79	-22.35
Change in Accounts Payable	8.02	6.67	28.71	35.08	35.08	14.08	14.08	-40.26	6.32	3.10	8.40
Change in Other Working Capital	-18.46	1.95	35.23	1.91	12.78	-0.41	-19.50	-14.34	5.06	-11.55	-4.46
Other Operating Activities	-1.15	1.95	-3.69	11.01	12.78	3.11	4.04	2.08	6.71	4.80	18.83
Net Cash from Operating Activities	176.21	111.11	119.93	-24.44	-24.44	-54.24	-54.24	3.46	55.71	48.35	47.64
Investing Activities
Capital Expenditures	-22.87	-15.26	-8.52	-6.45	-6.45	-12.21	-12.21	-18.97	-35.51	-32.12	-9.25
Acquisitions	-1.00	-0.55	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	0.00	0.00	-	0.00	-	0.90	0.17	0.05	0.01	0.05
Net Cash from Investing Activities	-23.87	-15.82	-8.52	-6.45	-6.45	-11.31	-11.31	-18.80	-35.47	-32.10	-9.20
Financing Activities
Debt Repayment	-5.98	-172.36	-43.64	-15.98	-175.98	-11.19	33.81	-10.85	39.97	-8.01	-11.28
Common Stock Issued	4.68	3.79	1.12	75.30	75.00	1.94	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	-49.42	-11.12	-0.38	-1.71	-1.71	-0.52	-0.52	0.00	-50.37	-26.59	-34.33
Dividends Paid	0.00	0.00	0.00	-	0.00	-	0.00	0.00	0.00	-1.90	-4.26
Other Financing Activities	0.00	-3.13	0.00	-2.95	-2.95	-2.48	-0.54	-0.26	0.86	17.89	21.73
Net Cash from Financing Activities	-50.72	-46.60	-42.90	29.66	29.66	32.75	32.75	-11.11	-9.54	-18.61	-28.13
Summary
Net Change in Cash	101.63	48.70	68.51	-1.23	-1.23	-32.80	-32.80	-26.45	10.70	-2.36	10.31
Cash at Beginning of Period	127.69	78.99	10.48	-	11.71	-	44.51	70.96	60.26	62.62	52.31
Cash at End of Period	229.31	127.69	78.99	-	10.48	-	11.71	44.51	70.96	60.26	62.62
Free Cash Flow	153.34	95.85	111.41	-30.89	-30.89	-66.45	-66.45	-15.51	20.19	16.24	38.39
Supplemental Disclosures
Interest Paid	7.37	9.93	16.05	15.18	-	-	-	-	-	-	-
Income Taxes Paid	58.76	29.40	-0.03	-0.08	-	0.03	-	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Blue Bird Cash Flow

What is Blue Bird's free cash flow?

Blue Bird generated free cash flow of $153.34M in fiscal 2025 (fiscal year ended Sep 30, 2025), operating cash flow of $176.21M minus $22.87M of capital expenditures. That was up 60.0% from $95.85M a year earlier. Free cash flow equaled 10.4% of revenue.

How much does Blue Bird spend on capital expenditures?

Blue Bird spent $22.87M on capital expenditures in fiscal 2025, compared with $15.26M a year earlier. That equals 13.0% of operating cash flow.

Does Blue Bird pay dividends or buy back shares?

Yes. In fiscal 2025 Blue Bird returned $49.42M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition