Blackrock Municipal 2030 Target Term Trust (BTT) Cash Flow Statement
Where BTT’s cash came from and went, FY2026
July 31, 2026 · U.S. dollars- Cash from operations
- $57.7M −4.6% vs FY2025
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- $57.7M 68.2% margin
- Returned to shareholders
- $40.0M 69% of free cash flow
- Change in cash
- −$16.1M cash at year-end $3.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
BTT operating cash flow, capex and free cash flow
BTT cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $67.4MFY2017 | $57.7MFY2026 | −1.7%/yr | |
| Capital expenditures | $0FY2017 | $0FY2026 | — | |
| Free cash flow | $67.4MFY2017 | $57.7MFY2026 | −1.7%/yr | |
| Free cash flow margin | −36.9%FY2018 | 68.2%FY2026 | +105.1 pts | |
| Operating cash flow / net income | −0.38FY2018 | 1.21FY2026 | +1.58 | |
| Dividends paid | $67.7MFY2017 | $32.7MFY2026 | −7.8%/yr | |
| Share buybacks (net) | $0FY2020 | $7.3MFY2026 | — | |
| Capex / revenue | 0.0%FY2018 | 0.0%FY2026 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BTT cash flow by activity
BTT net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
BTT cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $47.9M | $54.5M | $46.7M | −$1.2M | −$162.1M | $124.0M | $102.9M | $192.3M | $45.5M | −$42.2M |
| Change in working capital | −$222,766 | −$2.7M | $746,454 | $2.4M | $1.5M | $446,752 | −$526,851 | $947,652 | −$2.2M | −$339,647 |
| Other non-cash items | $10.1M | $8.8M | $90.0M | $210.4M | $219.3M | −$43.0M | −$49.6M | −$139.4M | −$60.3M | $109.9M |
| Cash from operating activities | $57.7M | $60.5M | $137.4M | $211.6M | $58.6M | $81.4M | $52.8M | $53.9M | −$17.1M | $67.4M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | −$2 | −$3 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions & other investing | −$33.2M | −$25.9M | $33.8M | $208.2M | −$23.1M | −$4.9M | $13.2M | −$29.6M | −$111.3M | −$56.8M |
| Cash from investing activities | −$33.2M | −$25.9M | $33.8M | $208.2M | −$23.1M | −$4.9M | $13.2M | −$29.6M | −$111.3M | −$56.8M |
| Financing activities | ||||||||||
| Dividends paid | −$32.7M | −$39.2M | −$36.4M | −$53.8M | −$52.8M | −$52.8M | −$52.8M | −$52.8M | −$60.8M | −$67.7M |
| Share repurchases & issuance (net) | −$7.3M | −$35.3M | −$101.1M | $0 | $0 | — | $0 | — | — | — |
| Net borrowing (repayment) | $0 | — | $22,907 | −$157.8M | −$5.8M | −$28.6M | −$28.6M | −$1.1M | $77.9M | $282,780 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$555,612 | $14.0M | $31,357 | $31,271 | $31,272 | $31,271 | $28.6M | $31,269 | $31,270 | $31,269 |
| Cash from financing activities | −$40.6M | −$60.5M | −$137.4M | −$211.6M | −$58.6M | −$81.4M | −$52.8M | −$53.9M | $17.1M | −$67.4M |
| Summary | ||||||||||
| Net change in cash | −$16.1M | $19.7M | $33.8M | $208.2M | −$58.6M | −$81.4M | $13.2M | −$29.6M | −$111.3M | −$56.8M |
| Cash at end of period | $3.6M | $19.7M | −$52.6M | $208.2M | −$23.1M | −$4.9M | $13.2M | −$29.6M | −$111.3M | −$56.8M |
| Free cash flow | $57.7M | $60.5M | $137.4M | $211.6M | $58.6M | $81.4M | $52.8M | $53.9M | −$17.1M | $67.4M |
| Free cash flow margin | 68.2% | 73.3% | 163.1% | — | — | 65.3% | 50.9% | 27.9% | −36.9% | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | — | — | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Operating cash flow / net income | 1.21 | 1.11 | 2.95 | — | — | 0.66 | 0.51 | 0.28 | −0.38 | — |
| Jul '26 | Jan '26 | Jul '25 | Jan '25 | Jul '24 | Jan '24 | Oct '23 | Jul '23 | Jun '23 | Apr '23 | Jan '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$5.7M | $53.6M | $29.7M | $24.7M | $9.6M | $37.1M | $37.1M | −$7.8M | −$7.8M | −$3.9M | $6.6M | $6.6M |
| Change in working capital | −$700,088 | $477,322 | −$1.6M | −$1.2M | $1.2M | −$418,790 | −$418,790 | $778,401 | $778,401 | — | $1.6M | $1.6M |
| Other non-cash items | $35.3M | −$25.2M | $14.1M | $778,988 | $45.3M | $44.8M | −$11.6M | $34.3M | $34.3M | $17.7M | $23.4M | $23.4M |
| Cash from operating activities | $28.9M | $28.8M | $42.3M | $24.4M | $56.0M | $81.4M | $25.1M | $27.3M | $27.3M | $13.8M | $31.6M | $31.6M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | −$3 | −$2 | −$5 | −$3 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions & other investing | −$34.1M | $886,235 | −$56.6M | $30.7M | $55.6M | −$21.8M | — | $15.0M | — | — | $193.2M | — |
| Cash from investing activities | −$34.1M | $886,235 | −$56.6M | $30.7M | $55.6M | −$21.8M | — | $15.0M | — | — | $193.2M | — |
| Financing activities | ||||||||||||
| Dividends paid | −$17.7M | −$15.0M | −$20.9M | −$18.3M | −$18.5M | −$17.9M | −$17.9M | −$27.6M | −$27.6M | −$13.8M | −$26.2M | −$26.2M |
| Share repurchases & issuance (net) | — | −$7.3M | −$35.3M | — | −$36.7M | −$64.3M | −$64.3M | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$1.1M | $519,502 | $13.9M | $41,020 | −$755,962 | $810,226 | $810,226 | $15,508 | $15,508 | $7,754 | −$157.8M | −$157.8M |
| Cash from financing activities | −$18.8M | −$21.8M | −$42.3M | −$18.2M | −$56.0M | −$81.4M | −$81.4M | −$27.5M | −$27.5M | −$13.8M | −$184.0M | −$184.0M |
| Summary | ||||||||||||
| Net change in cash | −$24.0M | $7.9M | −$68.9M | $88.7M | $55.6M | −$21.8M | −$78.2M | $14.7M | $14.7M | — | $40.9M | $40.9M |
| Cash at end of period | $3.6M | $27.6M | $19.7M | $88.7M | $25.5M | −$78.2M | −$78.2M | $14.7M | $14.7M | — | $40.9M | $40.9M |
| Free cash flow | $28.9M | $28.8M | $42.3M | $24.4M | $56.0M | $81.4M | $25.1M | $27.3M | $27.3M | $13.8M | $31.6M | $31.6M |
| Free cash flow margin | 64.8% | 72.0% | 102.7% | 55.3% | 134.5% | 191.1% | 59.7% | 64.4% | 64.4% | — | 76.3% | 76.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% |
| Operating cash flow / net income | — | 0.54 | 1.42 | 0.98 | 5.85 | 2.20 | 0.68 | — | — | — | 4.78 | 4.78 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
BTT cash generation
In fiscal 2026 (ended July 31, 2026), Blackrock Municipal 2030 Target Term Trust generated $57.7 million of cash from operations (down 4.6%) and spent $0 on capital expenditures, leaving free cash flow of $57.7 million, 68.2% of revenue. It returned $40.0 million to shareholders through dividends ($32.7 million) and net share buybacks ($7.3 million). Cash and equivalents fell by $16.1 million over the year.
Related: BTT income statement, BTT balance sheet, BTT dividend history. See the BTT stock overview for the latest quote and news.
BTT cash flow FAQ
What is Blackrock Municipal 2030 Target Term Trust's free cash flow?
Blackrock Municipal 2030 Target Term Trust's free cash flow was $57.7 million in fiscal 2026: $57.7 million of operating cash flow minus $0 of capital expenditures It was $60.5 million a year earlier..
How much cash does Blackrock Municipal 2030 Target Term Trust generate from operations?
Blackrock Municipal 2030 Target Term Trust generated $57.7 million of cash from operating activities in fiscal 2026, 1.21 times its net income of $47.9 million.
How much stock does Blackrock Municipal 2030 Target Term Trust buy back?
Blackrock Municipal 2030 Target Term Trust spent $7.3 million on net share repurchases in fiscal 2026.
How much does Blackrock Municipal 2030 Target Term Trust pay in dividends?
Blackrock Municipal 2030 Target Term Trust paid $32.7 million in dividends in fiscal 2026, 56.7% of free cash flow.