Coty Inc. (COTY) Cash Flow Statement
Where COTY’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- $537.8M +9.2% vs FY2025
- Capital expenditures
- $189.6M 3.3% of revenue
- Free cash flow
- $348.2M 6.0% margin
- Returned to shareholders
- $13.2M 4% of free cash flow
- Change in cash
- −$81.5M cash at year-end $188.9M
Cash from operations
$537.8M
Capital expenditures
−$189.6M
Investments (net)
−$30.7M
Acquisitions & other
+$759.3M
Dividends
−$13.2M
Net borrowing (repayment)
−$888.7M
Other financing
−$259.3M
Currency & other
+$2.9M
Change in cash
−$81.5M
Drawn to scale: where the cash came from and how it was used. Hover for values.
COTY operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
COTY cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $757.5MFY2017 | $537.8MFY2026 | −3.7%/yr | |
| Capital expenditures | $432.3MFY2017 | $189.6MFY2026 | −8.8%/yr | |
| Free cash flow | $325.2MFY2017 | $348.2MFY2026 | +0.8%/yr | |
| Free cash flow margin | 4.3%FY2017 | 6.0%FY2026 | +1.7 pts | |
| Operating cash flow / net income | 2.71FY2022 | 5.62FY2024 | +2.90 | |
| Stock-based compensation | $24.6MFY2017 | $46.3MFY2026 | +7.3%/yr | |
| Dividends paid | $372.6MFY2017 | $13.2MFY2026 | −31.0%/yr | |
| Share buybacks (net) | $36.3MFY2017 | $0FY2023 | −100.0% | |
| Capex / revenue | 5.7%FY2017 | 3.3%FY2026 | −2.4 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
COTY cash flow by activity
OperatingInvestingFinancingChange in cash
COTY 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).
COTY cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | −$590.2M | −$350.2M | $109.4M | $523.2M | $267.7M | −$205.1M | −$1.00B | −$3.77B | −$127.8M | −$398.5M |
| Depreciation & amortization | $482.2M | $420.0M | $421.1M | $426.7M | $516.4M | $585.3M | $716.5M | $736.0M | $737.0M | $555.1M |
| Stock-based compensation | $46.3M | $50.0M | $88.8M | $135.9M | $195.5M | $29.9M | $29.8M | $14.8M | $30.6M | $24.6M |
| Change in working capital | −$73.3M | −$312.8M | −$187.6M | −$85.5M | $125.6M | −$231.9M | −$44.8M | −$129.8M | −$218.8M | $866.5M |
| Other non-cash items | $672.8M | $685.6M | $182.9M | −$374.6M | −$378.6M | $140.5M | $250.3M | $3.79B | −$7.3M | −$290.2M |
| Cash from operating activities | $537.8M | $492.6M | $614.6M | $625.7M | $726.6M | $318.7M | −$50.9M | $639.6M | $413.7M | $757.5M |
| Investing activities | ||||||||||
| Capital expenditures | −$189.6M | −$215.0M | −$245.2M | −$222.8M | −$174.1M | −$173.9M | −$267.4M | −$426.6M | −$446.4M | −$432.3M |
| Investments (net) | −$30.7M | −$128.4M | −$226.2M | −$118.2M | $230.6M | $248.0M | −$833.4M | −$454.0M | −$687.6M | −$1.16B |
| Acquisitions & other investing | $759.3M | $215.0M | $245.2M | $222.8M | $213.2M | $2.37B | $267.4M | $426.6M | $446.4M | $432.3M |
| Cash from investing activities | $539.0M | −$128.4M | −$226.2M | −$118.2M | $269.7M | $2.44B | −$833.4M | −$454.0M | −$687.6M | −$1.16B |
| Financing activities | ||||||||||
| Dividends paid | −$13.2M | −$13.3M | −$13.4M | −$13.7M | −$57.2M | −$25.7M | −$196.9M | −$346.2M | −$375.8M | −$372.6M |
| Share repurchases & issuance (net) | — | — | — | $1.60B | −$16.9M | $237.1M | −$4.5M | $2.18B | $10.67B | −$36.3M |
| Net borrowing (repayment) | −$888.7M | −$120.7M | −$327.5M | −$268.2M | −$760.7M | −$2.98B | $432.0M | $225.7M | $482.8M | $1.03B |
| Shares issued | $0 | $0 | $355.9M | $900,000 | $0 | $227.2M | $727.2M | $5.9M | $0 | $0 |
| Other financing | −$259.3M | −$292.8M | −$351.7M | −$1.79B | −$199.2M | −$254.5M | −$80.5M | −$2.22B | −$10.71B | −$30.5M |
| Cash from financing activities | −$1.16B | −$426.8M | −$336.7M | −$469.3M | −$1.03B | −$2.80B | $877.3M | −$160.3M | $69.3M | $595.2M |
| Summary | ||||||||||
| Net change in cash | −$81.5M | −$50.2M | $36.8M | $20.0M | −$46.6M | −$41.6M | −$28.4M | $18.2M | −$208.5M | $198.3M |
| Cash at end of period | $188.9M | $270.4M | $320.6M | $283.8M | $263.8M | $310.4M | $352.0M | $380.4M | $362.2M | $570.7M |
| Free cash flow | $348.2M | $277.6M | $369.4M | $402.9M | $552.5M | $144.8M | −$318.3M | $213.0M | −$32.7M | $325.2M |
| Free cash flow margin | 6.0% | 4.7% | 6.0% | 7.3% | 10.4% | 3.1% | −6.7% | 2.5% | −0.3% | 4.3% |
| Capex / revenue | 3.3% | 3.6% | 4.0% | 4.0% | 3.3% | 3.8% | 5.7% | 4.9% | 4.7% | 5.7% |
| Operating cash flow / net income | — | — | 5.62 | 1.20 | 2.71 | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$149.7M | −$398.3M | −$123.6M | $74.0M | −$69.3M | −$402.2M | $30.6M | $90.7M | −$95.6M | $8.8M | $186.0M | $10.2M |
| Depreciation & amortization | $128.1M | $129.1M | $130.1M | $94.9M | $104.7M | $105.1M | $105.6M | $104.6M | $104.5M | $104.4M | $105.4M | $106.8M |
| Stock-based compensation | −$10.8M | $24.7M | $17.9M | $14.5M | $5.3M | $12.2M | $15.5M | $17.0M | $18.4M | $20.5M | $20.2M | $29.7M |
| Change in working capital | $87.1M | −$292.0M | $316.9M | −$185.3M | $17.1M | −$230.2M | $144.5M | −$244.2M | $89.0M | −$304.6M | $111.5M | −$83.5M |
| Other non-cash items | $61.3M | $333.4M | $218.4M | $67.1M | $25.4M | $392.6M | $168.3M | $99.3M | $60.2M | $900,000 | −$1.2M | $123.0M |
| Cash from operating activities | $116.0M | −$203.1M | $559.7M | $65.2M | $83.2M | −$122.5M | $464.5M | $67.4M | $176.5M | −$170.0M | $421.9M | $186.2M |
| Investing activities | ||||||||||||
| Capital expenditures | −$43.4M | −$45.6M | −$46.6M | −$54.0M | −$48.3M | −$42.9M | −$46.5M | −$77.3M | −$59.8M | −$64.3M | −$58.9M | −$62.2M |
| Investments (net) | −$780.7M | $0 | — | −$53.8M | −$48.3M | $28.1M | −$30.9M | −$77.3M | −$64.7M | −$42.1M | −$57.2M | −$62.2M |
| Acquisitions & other investing | $750.0M | $0 | $759.1M | $54.0M | $48.3M | $42.9M | $46.5M | $77.3M | $59.8M | $64.3M | $58.9M | $62.2M |
| Cash from investing activities | −$74.1M | −$45.6M | $712.5M | −$53.8M | −$48.3M | $28.1M | −$30.9M | −$77.3M | −$64.7M | −$42.1M | −$57.2M | −$62.2M |
| Financing activities | ||||||||||||
| Dividends paid | −$3.3M | −$3.3M | −$3.3M | −$3.3M | −$3.4M | −$3.2M | −$3.4M | −$3.3M | −$3.3M | −$3.3M | −$3.5M | −$3.3M |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | — | — | $24.0M | −$24.0M | — |
| Net borrowing (repayment) | −$120.3M | $205.8M | −$1.04B | $61.4M | −$23.7M | $315.5M | −$409.3M | −$3.2M | — | — | — | −$30.3M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $400,000 | $600,000 | $0 | $0 |
| Other financing | −$1.6M | −$132.0M | −$60.0M | −$65.7M | −$15.6M | −$235.1M | −$38.2M | −$3.9M | −$69.7M | $500,000 | −$179.8M | −$45.0M |
| Cash from financing activities | −$125.2M | $70.5M | −$1.10B | −$7.6M | −$42.7M | $77.2M | −$450.9M | −$10.4M | −$72.6M | $21.8M | −$207.3M | −$78.6M |
| Summary | ||||||||||||
| Net change in cash | −$81.3M | −$177.8M | $174.9M | $2.7M | $11.0M | −$9.2M | −$38.9M | −$13.1M | $34.4M | −$197.3M | $165.8M | $33.9M |
| Cash at end of period | $188.9M | $270.2M | $448.0M | $273.1M | $270.4M | $259.4M | $268.6M | $307.5M | $320.6M | $286.2M | $483.5M | $317.7M |
| Free cash flow | $72.6M | −$248.7M | $513.1M | $11.2M | $34.9M | −$165.4M | $418.0M | −$9.9M | $116.7M | −$234.3M | $363.0M | $124.0M |
| Free cash flow margin | 5.7% | −19.4% | 30.6% | 0.7% | 2.8% | −12.7% | 25.0% | −0.6% | 8.6% | −16.9% | 21.0% | 7.6% |
| Capex / revenue | 3.4% | 3.6% | 2.8% | 3.4% | 3.9% | 3.3% | 2.8% | 4.6% | 4.4% | 4.6% | 3.4% | 3.8% |
| Operating cash flow / net income | — | — | — | 0.88 | — | — | 15.18 | 0.74 | — | −19.32 | 2.27 | 18.25 |
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.
COTY cash generation
In fiscal 2026 (ended June 30, 2026), Coty generated $537.8 million of cash from operations (up 9.2%) and spent $189.6 million on capital expenditures, leaving free cash flow of $348.2 million, 6.0% of revenue. It returned $13.2 million to shareholders through dividends ($13.2 million) and net share buybacks ($0). Cash and equivalents fell by $81.5 million over the year.
Related: COTY income statement, COTY balance sheet. See the COTY stock overview for the latest quote and news.
COTY cash flow FAQ
What is Coty's free cash flow?
Coty's free cash flow was $348.2 million in fiscal 2026: $537.8 million of operating cash flow minus $189.6 million of capital expenditures It was $277.6 million a year earlier..
How much cash does Coty generate from operations?
Coty generated $537.8 million of cash from operating activities in fiscal 2026.
How much does Coty spend on capital expenditures?
Coty spent $189.6 million on capital expenditures in fiscal 2026, 3.3% of revenue, compared with $215.0 million the year before.
How much does Coty pay in dividends?
Coty paid $13.2 million in dividends in fiscal 2026, 3.8% of free cash flow.