Dillard's (DDS) Cash Flow: Operating & Free Cash Flow

Dillard's (DDS) Cash Flow Statement

In fiscal 2026 (fiscal year ended Jan 31, 2026), Dillard's generated $717.00M of operating cash flow and spent $93.40M on capital expenditures. That left free cash flow of $623.60M, up 2.3% from $609.58M a year earlier, or 9.5% of revenue. It returned $592.60M to shareholders through $484.80M in dividends and $107.80M in share buybacks.

Dillard's Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Dillard's, Inc. (DDS) - Annual data in billions USD
Breakdown	FY 2026	FY 2025	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Jan 2026	Feb 2025	Jan 2025	Feb 2024	Jan 2024	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Feb 2018
Operating Activities
Net Income	0.57	0.57	0.59	0.59	0.74	0.89	0.86	-0.07	0.11	0.17	0.22
Depreciation & Amortization	0.18	0.18	0.18	0.18	0.18	0.19	0.20	0.22	0.22	0.23	0.23
Deferred Income Tax	-0.01	-	-0.01	-	-0.02	-0.02	-0.01	-0.02	-0.01	0.00	-0.10
Change in Working Capital	0.00	-0.04	-0.04	-0.01	-0.01	-0.09	0.24	0.11	0.05	-0.03	-0.07
Change in Accounts Receivable	0.02	0.02	0.00	0.00	0.00	-0.02	0.00	0.01	0.00	-0.01	0.01
Change in Inventory	-0.03	-0.03	-0.08	-0.08	0.03	-0.04	0.01	0.38	0.06	-0.06	-0.06
Change in Accounts Payable	0.00	0.00	0.03	0.04	-0.02	-0.03	0.12	-0.12	-0.03	0.10	-0.02
Change in Other Working Capital	0.02	0.02	-0.01	0.00	-0.01	-0.01	0.12	-0.15	0.01	-0.06	-0.01
Other Operating Activities	-0.03	-0.04	-0.01	-0.02	-0.01	-0.02	-0.02	0.02	-0.02	0.00	0.00
Net Cash from Operating Activities	0.72	0.71	0.71	0.88	0.88	0.95	1.28	0.25	0.37	0.37	0.27
Investing Activities
Capital Expenditures	-0.09	-0.10	-0.10	-0.13	-0.13	-0.12	-0.10	-0.06	-0.10	-0.14	-0.13
Acquisitions	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.03	0.00	0.01
Purchases of Investments	-0.53	-0.53	-0.70	-0.70	-0.30	-0.25	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.66	0.66	0.53	0.53	0.30	0.10	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-0.01	-0.03	0.00	0.00	0.01	0.03	0.03	0.01	0.00	0.01	0.01
Net Cash from Investing Activities	0.02	-0.27	-0.27	-0.12	-0.12	-0.24	-0.07	-0.05	-0.07	-0.13	-0.11
Financing Activities
Debt Repayment	0.00	-	0.00	-	0.00	-0.04	0.00	0.00	0.00	-0.16	-0.09
Common Stock Repurchased	-0.11	-0.11	-0.12	-0.12	-0.28	-0.45	-0.54	-0.10	-0.13	-0.13	-0.22
Dividends Paid	-0.48	-0.48	-0.41	-0.41	-0.34	-0.27	-0.31	-0.01	-0.01	-0.01	-0.01
Other Financing Activities	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash from Financing Activities	-0.60	-0.53	-0.53	-0.62	-0.62	-0.77	-0.85	-0.12	-0.14	-0.30	-0.32
Summary
Effect of Forex Changes on Cash	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Change in Cash	0.14	-0.09	-0.09	0.15	0.15	-0.06	0.36	0.08	0.15	-0.06	-0.16
Cash at Beginning of Period	0.72	-	0.81	-	0.66	0.72	0.36	0.28	0.12	0.19	0.35
Cash at End of Period	0.86	-	0.72	-	0.81	0.66	0.72	0.36	0.28	0.12	0.19
Free Cash Flow	0.62	0.61	0.61	0.75	0.75	0.83	1.18	0.19	0.26	0.23	0.14
Supplemental Disclosures
Interest Paid	-	0.04	-	0.05	-	0.04	0.04	-	-	-	-
Income Taxes Paid	-	0.15	-	0.18	-	0.23	0.09	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Aug 1, 2026. Data sources and methodology

Frequently Asked Questions About Dillard's Cash Flow

What is Dillard's's free cash flow?

Dillard's generated free cash flow of $623.60M in fiscal 2026 (fiscal year ended Jan 31, 2026), operating cash flow of $717.00M minus $93.40M of capital expenditures. That was up 2.3% from $609.58M a year earlier. Free cash flow equaled 9.5% of revenue.

How much does Dillard's spend on capital expenditures?

Dillard's spent $93.40M on capital expenditures in fiscal 2026, compared with $104.55M a year earlier. That equals 13.0% of operating cash flow.

Does Dillard's pay dividends or buy back shares?

Yes. In fiscal 2026 Dillard's returned $484.80M in dividends and $107.80M 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