Leslie's (LESL) Cash Flow: Operating & Free Cash Flow

Leslie's 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 Leslie's, Inc. (LESL) - Annual data in millions USD
Breakdown	FY 2025	FY 2025	FY 2024	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Oct 2025	Sep 2025	Sep 2024	Sep 2023	Oct 2022	Sep 2022	Oct 2021	Sep 2021	Sep 2020	Sep 2019	Sep 2018
Operating Activities
Net Income	-236.97	-236.97	-23.38	27.24	159.03	159.03	126.63	126.63	58.56	0.70	17.13
Depreciation & Amortization	33.47	33.47	33.08	34.14	30.77	30.77	26.55	26.55	28.93	30.42	31.61
Deferred Income Tax	-	4.46	3.43	-6.33	-	2.47	-	2.85	-7.82	-0.75	1.41
Stock Based Compensation	6.20	6.20	8.59	11.70	11.35	11.35	24.22	24.22	1.79	2.13	1.79
Change in Working Capital	16.85	16.85	81.63	-68.98	-140.60	-140.60	-23.13	-22.84	17.11	19.87	-13.46
Change in Accounts Receivable	23.65	23.65	-18.68	16.10	-7.62	-7.62	-9.48	-12.89	-31.03	-5.63	-4.30
Change in Inventory	26.30	26.30	85.88	54.33	-143.15	-143.15	-47.79	-47.79	1.76	-3.80	-4.92
Change in Accounts Payable	-15.73	-16.86	-2.77	-104.63	55.50	23.84	35.76	36.04	39.34	23.83	2.04
Change in Other Working Capital	6.60	2.20	2.19	2.10	-19.24	-13.67	-6.70	1.79	7.04	5.46	-6.28
Other Operating Activities	189.27	2.20	2.19	2.10	6.10	3.63	15.00	12.15	4.85	5.45	4.82
Net Cash from Operating Activities	8.82	8.82	107.47	6.47	66.64	66.64	169.27	169.56	103.41	57.82	43.28
Investing Activities
Capital Expenditures	-25.49	-25.49	-47.24	-38.58	-31.73	-31.73	-28.93	-28.93	-20.63	-27.44	-28.79
Acquisitions	-	0.00	0.08	-15.55	-107.66	-107.66	-8.87	-8.87	-6.19	-9.62	-11.76
Other Investing Activities	-	0.14	0.08	1.59	-	0.41	-	2.44	0.01	0.06	0.33
Net Cash from Investing Activities	-25.35	-25.35	-47.16	-52.54	-138.98	-138.98	-35.36	-35.36	-26.81	-37.00	-40.22
Financing Activities
Debt Repayment	-27.03	-187.06	-146.72	-272.45	-8.10	-8.10	-396.14	-395.23	-10.43	-6.26	-23.66
Common Stock Issued	-	0.00	0.00	0.00	1.38	0.00	458.59	458.59	0.00	0.00	0.00
Common Stock Repurchased	-0.08	0.00	-1.00	-2.36	-152.15	-152.15	-	0.00	0.00	0.00	0.00
Dividends Paid	-	0.00	0.00	0.00	-	0.00	-	0.00	0.00	-1.24	0.00
Other Financing Activities	-0.54	-0.08	-1.00	-2.36	-	1.38	-9.58	-9.58	0.00	0.00	-0.72
Net Cash from Financing Activities	-27.64	-27.64	-7.22	-10.80	-158.87	-158.87	53.78	53.78	-10.43	-7.50	-24.39
Summary
Net Change in Cash	-44.17	-44.17	53.09	-56.87	-231.21	-231.21	187.70	187.99	66.17	13.33	-21.33
Cash at Beginning of Period	-	108.51	55.42	112.29	-	343.50	-	157.07	90.90	77.57	98.89
Cash at End of Period	-	64.34	108.51	55.42	-	112.29	-	345.06	157.07	90.90	77.57
Free Cash Flow	-16.67	-16.67	60.22	-32.11	34.92	34.92	140.34	140.63	82.78	30.38	14.49
Supplemental Disclosures
Interest Paid	65.42	-	63.24	63.06	32.62	-	36.41	-	-	-	-
Income Taxes Paid	3.39	-	10.93	22.56	41.15	-	28.56	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jul 4, 2026. Data sources and methodology

Frequently Asked Questions About Leslie's Cash Flow

What is Leslie's's free cash flow?

Leslie's had negative free cash flow of $16.67M in fiscal 2025 (fiscal year ended Oct 4, 2025), operating cash flow of $8.82M minus $25.49M of capital expenditures.

How much does Leslie's spend on capital expenditures?

Leslie's spent $25.49M on capital expenditures in fiscal 2025, compared with $47.24M a year earlier. That equals 288.9% of operating cash flow.

Does Leslie's pay dividends or buy back shares?

Yes. In fiscal 2025 Leslie's returned $76.00K 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