The Cato Corporation (CATO) Cash Flow Statement
Where CATO’s cash came from and went, FY2026
January 31, 2026 · U.S. dollars- Cash from operations
- −$1.5M
- Capital expenditures
- $3.8M 0.6% of revenue
- Free cash flow
- −$5.2M −0.8% margin
- Returned to shareholders
- $995,000
- Change in cash
- −$3.6M cash at year-end $19.5M
Cash from operations
−$1.5M
Capital expenditures
−$3.8M
Investments (net)
+$1.6M
Acquisitions & other
+$867,000
Share buybacks (net)
−$995,000
Other financing
+$144,000
Change in cash
−$3.6M
Drawn to scale: where the cash came from and how it was used. Hover for values.
CATO operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
CATO cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $72.1MFY2017 | −$1.5MFY2026 | — | |
| Capital expenditures | $27.3MFY2017 | $3.8MFY2026 | −19.8%/yr | |
| Free cash flow | $44.8MFY2017 | −$5.2MFY2026 | — | |
| Free cash flow margin | 4.7%FY2017 | −0.8%FY2026 | −5.5 pts | |
| Operating cash flow / net income | 1.53FY2017 | 461.03FY2023 | +459.51 | |
| Stock-based compensation | $4.2MFY2017 | $1.7MFY2026 | −9.7%/yr | |
| Dividends paid | $35.4MFY2017 | $0FY2026 | −100.0% | |
| Share buybacks (net) | $42.6MFY2017 | $995,000FY2026 | −34.1%/yr | |
| Capex / revenue | 2.9%FY2017 | 0.6%FY2026 | −2.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CATO cash flow by activity
OperatingInvestingFinancingChange in cash
CATO net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
CATO cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$5.9M | −$18.1M | −$23.9M | $29,000 | $36.8M | −$47.5M | $35.9M | $30.5M | $8.5M | $47.2M |
| Depreciation & amortization | $10.0M | $9.8M | $9.9M | $11.1M | $12.4M | $14.7M | $15.5M | $16.5M | $19.6M | $22.7M |
| Stock-based compensation | $1.7M | $2.3M | $4.2M | $2.6M | $4.1M | $4.1M | $4.7M | $4.9M | $4.2M | $4.2M |
| Change in working capital | −$6.7M | −$8.9M | −$93,000 | −$2.6M | $8.1M | −$16.5M | −$5.9M | $3.4M | −$11.9M | −$16.4M |
| Other non-cash items | −$555,000 | −$4.8M | $10.5M | $2.3M | −$1.6M | $14.5M | $3.3M | $5.0M | $15.5M | $14.4M |
| Cash from operating activities | −$1.5M | −$19.7M | $477,000 | $13.4M | $59.8M | −$30.7M | $53.4M | $60.2M | $36.0M | $72.1M |
| Investing activities | ||||||||||
| Capital expenditures | −$3.8M | −$7.9M | −$12.5M | −$19.4M | −$4.1M | −$14.0M | −$8.3M | −$4.4M | −$11.1M | −$27.3M |
| Investments (net) | $1.6M | $29.0M | $19.8M | $16.0M | −$20.8M | $75.3M | −$13.0M | −$66.5M | $78.6M | $12.2M |
| Acquisitions & other investing | $867,000 | $7.9M | $12.5M | $19.4M | −$400,000 | $3.2M | −$1.4M | −$298,000 | −$688,000 | $492,000 |
| Cash from investing activities | −$1.3M | $29.0M | $19.8M | $16.0M | −$25.3M | $64.5M | −$22.6M | −$71.1M | $66.9M | −$14.6M |
| Financing activities | ||||||||||
| Dividends paid | $0 | −$10.5M | −$14.0M | −$14.4M | −$10.0M | −$7.9M | −$32.6M | −$32.6M | −$33.7M | −$35.4M |
| Share repurchases & issuance (net) | −$995,000 | −$3.9M | −$2.6M | −$15.2M | −$22.0M | −$19.7M | −$9.6M | −$13.3M | −$38.9M | −$42.6M |
| Net borrowing (repayment) | — | — | — | $0 | $0 | — | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $144,000 | $338,000 | $384,000 | $307,000 | $204,000 | $391,000 | $626,000 | $759,000 | $579,000 | $691,000 |
| Cash from financing activities | −$851,000 | −$14.1M | −$16.1M | −$29.3M | −$31.8M | −$27.2M | −$41.6M | −$45.2M | −$72.0M | −$77.3M |
| Summary | ||||||||||
| Net change in cash | −$3.6M | −$4.8M | $4.1M | $115,000 | $2.7M | $6.6M | −$10.8M | −$56.1M | $30.8M | −$19.8M |
| Cash at end of period | $19.5M | $23.1M | $27.9M | $23.8M | $23.7M | $21.0M | $14.4M | $25.2M | $78.0M | $47.2M |
| Free cash flow | −$5.2M | −$27.6M | −$12.1M | −$6.1M | $55.7M | −$44.7M | $45.1M | $55.9M | $24.9M | $44.8M |
| Free cash flow margin | −0.8% | −4.3% | −1.7% | −0.8% | 7.2% | −7.8% | 5.5% | 6.7% | 2.9% | 4.7% |
| Capex / revenue | 0.6% | 1.2% | 1.8% | 2.6% | 0.5% | 2.4% | 1.0% | 0.5% | 1.3% | 2.9% |
| Operating cash flow / net income | — | — | — | 461.03 | 1.62 | — | 1.49 | 1.98 | 4.21 | 1.53 |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $1.1M | $9.3M | −$10.9M | −$5.2M | $6.8M | $3.3M | −$14.1M | −$15.1M | $95,000 | $11.0M | −$22.1M | −$6.1M |
| Depreciation & amortization | $2.2M | $2.2M | $2.5M | $2.4M | $2.5M | $2.6M | $2.7M | $2.7M | $2.3M | $2.0M | $2.5M | $2.5M |
| Stock-based compensation | $394,000 | $578,000 | $535,000 | $550,000 | $394,000 | $193,000 | $702,000 | $741,000 | $878,000 | −$38,000 | $981,000 | $997,000 |
| Change in working capital | $10.5M | −$4.2M | $2.8M | −$9.4M | $2.2M | −$2.3M | $3.4M | −$9.3M | $201,000 | −$3.3M | −$3.5M | −$6.2M |
| Other non-cash items | $200,000 | $106,999 | $322,000 | −$784,000 | −$163,000 | $70,000 | $748,000 | −$1.2M | −$373,000 | −$4.0M | $11.0M | −$1.1M |
| Cash from operating activities | $14.5M | $8.0M | −$4.7M | −$12.4M | $11.8M | $3.9M | −$6.5M | −$22.1M | $3.1M | $5.7M | −$11.2M | −$9.9M |
| Investing activities | ||||||||||||
| Capital expenditures | −$1.3M | −$1.1M | −$871,000 | −$530,000 | −$1.3M | −$1.0M | −$1.4M | −$1.7M | −$1.5M | −$3.3M | −$2.3M | −$1.8M |
| Investments (net) | −$3.3M | $1.1M | −$407,000 | $857,000 | −$8.8M | $7.9M | $7.5M | $14.8M | −$7.9M | $14.6M | $13.6M | −$17.7M |
| Acquisitions & other investing | $0 | $737,999 | $3,000 | $530,000 | $1.3M | $1.0M | $1.4M | $1.7M | $1.5M | $3.3M | $2.3M | $1.8M |
| Cash from investing activities | −$4.7M | $809,000 | −$1.3M | $857,000 | −$8.8M | $7.9M | $7.5M | $14.8M | −$7.9M | $14.6M | $13.6M | −$17.7M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | $0 | $0 | $0 | $0 | $0 | −$3.5M | −$3.5M | −$3.5M | −$3.5M | −$3.5M |
| Share repurchases & issuance (net) | −$111,000 | −$311,000 | $0 | $0 | −$60,000 | −$935,000 | −$1.5M | −$161,000 | $0 | −$2.2M | $1,000 | $0 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$4,000 | $77,000 | $0 | $82,000 | $0 | $62,000 | $0 | $147,000 | $30,000 | $161,000 | $27,000 | $159,000 |
| Cash from financing activities | −$115,000 | −$234,000 | $0 | $82,000 | −$60,000 | −$873,000 | −$1.5M | −$3.5M | −$3.5M | −$5.6M | −$3.5M | −$3.3M |
| Summary | ||||||||||||
| Net change in cash | $9.7M | $8.6M | −$6.0M | −$11.5M | $2.9M | $10.9M | −$493,000 | −$10.8M | −$8.3M | $14.7M | −$1.0M | −$30.9M |
| Cash at end of period | $37.8M | $28.1M | $19.5M | $25.4M | $36.9M | $34.0M | $23.1M | $23.6M | $34.3M | $42.6M | $27.9M | $28.9M |
| Free cash flow | $13.1M | $7.0M | −$5.6M | −$12.9M | $10.4M | $2.8M | −$7.8M | −$23.8M | $1.6M | $2.4M | −$13.5M | −$11.7M |
| Free cash flow margin | 7.9% | 4.1% | −3.7% | −8.3% | 5.9% | 1.7% | −5.0% | −16.3% | 0.9% | 1.4% | −7.7% | −7.4% |
| Capex / revenue | 0.8% | 0.6% | 0.6% | 0.3% | 0.8% | 0.6% | 0.9% | 1.2% | 0.9% | 1.8% | 1.3% | 1.1% |
| Operating cash flow / net income | 12.61 | 0.86 | — | — | 1.72 | 1.17 | — | — | 32.95 | 0.52 | — | — |
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.
CATO cash generation
In fiscal 2026 (ended January 31, 2026), Cato generated -$1.5 million of cash from operations and spent $3.8 million on capital expenditures, leaving free cash flow of -$5.2 million, −0.8% of revenue. It returned $1.0 million to shareholders through dividends ($0) and net share buybacks ($1.0 million). Cash and equivalents fell by $3.6 million over the year.
Related: CATO income statement, CATO balance sheet. See the CATO stock overview for the latest quote and news.
CATO cash flow FAQ
What is Cato's free cash flow?
Cato's free cash flow was -$5.2 million in fiscal 2026: -$1.5 million of operating cash flow minus $3.8 million of capital expenditures It was -$27.6 million a year earlier..
How much cash does Cato generate from operations?
Cato generated -$1.5 million of cash from operating activities in fiscal 2026.
How much does Cato spend on capital expenditures?
Cato spent $3.8 million on capital expenditures in fiscal 2026, 0.6% of revenue, compared with $7.9 million the year before.
How much stock does Cato buy back?
Cato spent $1.0 million on net share repurchases in fiscal 2026.