EnerSys (ENS) Cash Flow: Operating & Free Cash Flow

EnerSys (ENS) Cash Flow Statement

In fiscal 2026 (fiscal year ended Mar 31, 2026), EnerSys generated $547.60M of operating cash flow and spent $80.07M on capital expenditures. That left free cash flow of $467.52M, up 235.7% from $139.26M a year earlier, or 12.5% of revenue. It returned $408.83M to shareholders through $38.14M in dividends and $370.69M in share buybacks.

EnerSys 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 EnerSys (ENS) - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Operating Activities
Net Income	293.56	363.74	269.10	175.81	143.91	143.37	137.12	160.63	119.83	158.22
Depreciation & Amortization	113.56	100.88	92.02	91.15	95.88	94.08	87.34	63.35	54.32	53.95
Deferred Income Tax	14.41	-31.93	-29.34	-15.24	1.12	-8.99	-16.49	-6.46	-20.31	1.46
Stock Based Compensation	37.59	27.83	30.61	26.37	24.29	19.82	20.78	22.61	19.45	19.19
Change in Working Capital	68.67	-209.80	50.98	-8.27	-346.08	101.02	-36.40	-71.08	31.62	-34.68
Change in Accounts Receivable	104.71	-81.80	108.63	67.55	-128.96	8.71	26.49	5.97	-32.24	-13.54
Change in Inventory	25.89	1.34	75.63	-96.41	-212.84	24.18	-9.38	-46.61	-38.08	-42.79
Change in Accounts Payable	-52.63	36.57	-15.13	-4.24	65.32	20.80	-33.49	9.94	21.27	0.85
Change in Other Working Capital	2.85	-165.92	2.20	19.08	2.36	14.98	-20.01	-40.38	80.67	20.81
Other Operating Activities	2.85	9.59	2.20	-5.13	2.36	0.08	61.04	28.81	6.14	47.90
Net Cash from Operating Activities	547.60	260.30	457.03	279.94	-65.59	358.38	253.40	197.86	211.05	246.03
Investing Activities
Capital Expenditures	-80.07	-121.04	-86.44	-88.77	-74.04	-70.02	-101.43	-70.37	-69.83	-50.07
Acquisitions	-12.67	-206.37	-8.27	0.59	0.00	0.18	-176.55	-654.61	-2.99	-12.39
Purchases of Investments	0.00	-10.85	0.00	-0.59	0.00	0.00	0.00	0.00	0.00	0.00
Sales/Maturities of Investments	0.00	0.00	0.00	43.38	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	-7.81	1.87	2.23	43.38	4.81	4.80	3.15	1.10	0.46	0.63
Net Cash from Investing Activities	-87.88	-336.39	-92.48	-44.80	-69.23	-65.04	-274.82	-723.88	-72.36	-61.83
Financing Activities
Debt Repayment	-622.07	280.22	-721.39	-305.22	-249.85	-249.59	136.53	428.73	-9.49	-24.70
Common Stock Issued	41.98	0.00	10.79	4.39	0.00	9.11	0.00	0.00	0.96	0.00
Common Stock Repurchased	-370.69	-153.96	-95.69	-29.36	-156.37	-5.15	-34.56	-56.44	-121.19	257.40
Dividends Paid	-38.14	-37.47	-34.48	-28.54	-29.35	-29.81	-29.71	-29.74	-29.67	-30.40
Other Financing Activities	-11.15	1.47	-13.23	-1.12	-12.10	-15.28	-9.58	4.03	-6.53	-7.45
Net Cash from Financing Activities	-380.70	90.27	-370.56	-270.45	98.43	-188.72	62.68	346.58	-166.89	-62.54
Summary
Effect of Forex Changes on Cash	16.53	-4.37	-7.33	-20.51	-12.94	20.22	-13.50	-43.46	49.99	-18.63
Net Change in Cash	95.54	9.81	-13.34	-55.82	-49.32	124.83	27.77	-222.91	21.79	103.02
Cash at Beginning of Period	343.13	333.32	346.67	402.49	451.81	326.98	299.21	522.12	500.33	397.31
Cash at End of Period	438.68	343.13	333.32	346.67	402.49	451.81	326.98	299.21	522.12	500.33
Free Cash Flow	467.52	139.26	370.59	191.17	-139.63	288.36	151.97	127.48	141.22	195.96
Supplemental Disclosures
Income Taxes Paid	-	40.41	28.81	46.31	50.48	32.00	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 5, 2026. Data sources and methodology

Frequently Asked Questions About EnerSys Cash Flow

What is EnerSys's free cash flow?

EnerSys generated free cash flow of $467.52M in fiscal 2026 (fiscal year ended Mar 31, 2026), operating cash flow of $547.60M minus $80.07M of capital expenditures. That was up 235.7% from $139.26M a year earlier. Free cash flow equaled 12.5% of revenue.

How much does EnerSys spend on capital expenditures?

EnerSys spent $80.07M on capital expenditures in fiscal 2026, compared with $121.04M a year earlier. That equals 14.6% of operating cash flow.

Does EnerSys pay dividends or buy back shares?

Yes. In fiscal 2026 EnerSys returned $38.14M in dividends and $370.69M 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