Canada Goose Holdings Inc. (GOOS) Cash Flow Statement
Where GOOS’s cash came from and went, FY2026
March 31, 2026 · Canadian dollars- Cash from operations
- C$192.4M −34.2% vs FY2025
- Capital expenditures
- C$50.6M 3.3% of revenue
- Free cash flow
- C$141.8M 9.3% margin
- Returned to shareholders
- —
- Change in cash
- C$85.2M cash at year-end C$409.3M
Cash from operations
C$192.4M
Capital expenditures
−C$50.6M
Net borrowing (repayment)
−C$70.6M
Currency & other
+C$14.1M
Change in cash
C$85.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
GOOS operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
GOOS cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | C$39.3MFY2017 | C$192.4MFY2026 | +19.3%/yr | |
| Capital expenditures | C$26.3MFY2017 | C$50.6MFY2026 | +7.6%/yr | |
| Free cash flow | C$13.1MFY2017 | C$141.8MFY2026 | +30.3%/yr | |
| Free cash flow margin | 3.2%FY2017 | 9.3%FY2026 | +6.0 pts | |
| Operating cash flow / net income | 1.82FY2017 | 8.53FY2026 | +6.71 | |
| Stock-based compensation | C$3.3MFY2017 | C$23.5MFY2026 | +24.5%/yr | |
| Dividends paid | C$254.0MFY2017 | C$7.1MFY2022 | −51.1%/yr | |
| Share buybacks (net) | C$64.3MFY2017 | C$0FY2026 | −100.0% | |
| Capex / revenue | 6.5%FY2017 | 3.3%FY2026 | −3.2 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GOOS cash flow by activity
OperatingInvestingFinancingChange in cash
GOOS 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).
GOOS cash flow statement in Canadian dollars
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | C$22.6M | C$103.6M | C$58.4M | C$68.9M | C$94.6M | C$94.6M | C$148.0M | C$143.6M | C$96.1M | C$21.6M |
| Depreciation & amortization | C$131.8M | C$130.7M | C$126.0M | C$109.1M | C$95.8M | C$81.9M | C$57.1M | C$22.7M | C$14.2M | C$8.5M |
| Stock-based compensation | C$23.5M | C$15.2M | C$10.4M | C$15.0M | C$14.0M | C$14.0M | C$8.5M | C$3.8M | C$2.0M | C$3.3M |
| Change in working capital | C$18.1M | C$32.6M | C$10.5M | −C$75.4M | −C$82.8M | −C$82.8M | −C$130.6M | −C$100.7M | −C$2.3M | C$19.9M |
| Other non-cash items | −C$3.6M | C$10.3M | −C$40.7M | −C$1.3M | C$30.0M | C$43.9M | −C$31.5M | C$4.0M | C$16.3M | −C$14.0M |
| Cash from operating activities | C$192.4M | C$292.4M | C$164.6M | C$116.3M | C$151.6M | C$151.6M | C$51.5M | C$73.4M | C$126.2M | C$39.3M |
| Investing activities | ||||||||||
| Capital expenditures | −C$50.6M | −C$18.4M | −C$56.5M | −C$48.1M | −C$37.2M | −C$37.2M | −C$51.3M | −C$49.3M | −C$33.8M | −C$26.3M |
| Investments (net) | — | −C$18.4M | −C$72.4M | −C$45.3M | −C$37.2M | −C$32.0M | −C$62.3M | −C$82.9M | −C$34.4M | −C$27.0M |
| Acquisitions & other investing | C$0 | C$18.4M | C$56.5M | C$48.1M | C$37.2M | C$32.0M | C$62.3M | C$49.3M | C$33.8M | C$26.3M |
| Cash from investing activities | −C$50.6M | −C$18.4M | −C$72.4M | −C$45.3M | −C$37.2M | −C$37.2M | −C$51.3M | −C$82.9M | −C$34.4M | −C$27.0M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | — | −C$7.1M | — | −C$2.4M | C$0 | C$0 | −C$254.0M |
| Share repurchases & issuance (net) | C$0 | C$0 | −C$141.4M | −C$26.7M | −C$253.2M | −C$253.2M | −C$38.7M | C$3.1M | C$1.2M | −C$64.3M |
| Net borrowing (repayment) | −C$70.6M | −C$94.2M | −C$91.3M | −C$62.6M | −C$51.1M | C$208.7M | −C$24.7M | −C$24.7M | −C$8.8M | C$21.4M |
| Shares issued | C$500,000 | C$600,000 | C$100,000 | C$100,000 | C$7.1M | C$4.0M | C$0 | C$0 | C$0 | C$0 |
| Other financing | −C$181,156 | C$0 | −C$200,000 | C$8.5M | C$6.1M | −C$257.7M | C$7.1M | C$24.7M | −C$372,000 | C$287.0M |
| Cash from financing activities | −C$70.3M | −C$93.6M | −C$232.8M | −C$80.7M | −C$298.2M | −C$298.2M | −C$58.7M | C$3.1M | −C$7.9M | −C$9.9M |
| Summary | ||||||||||
| Net change in cash | C$85.2M | C$189.5M | −C$141.6M | −C$1.2M | −C$190.2M | −C$190.2M | −C$56.9M | −C$6.7M | C$85.6M | C$2.5M |
| Cash at end of period | C$409.3M | C$334.4M | C$144.9M | C$286.5M | C$287.7M | C$287.7M | C$31.7M | C$88.6M | C$95.3M | C$9.7M |
| Free cash flow | C$141.8M | C$274.0M | C$108.1M | C$68.2M | C$114.4M | C$114.4M | C$200,000 | C$24.1M | C$92.4M | C$13.1M |
| Free cash flow margin | 9.3% | 20.3% | 8.1% | 5.6% | 10.4% | 12.7% | 0.0% | 2.9% | 15.6% | 3.2% |
| Capex / revenue | 3.3% | 1.4% | 4.2% | 4.0% | 3.4% | 4.1% | 5.4% | 5.9% | 5.7% | 6.5% |
| Operating cash flow / net income | 8.53 | 2.82 | 2.82 | 1.69 | 1.60 | 1.60 | 0.35 | 0.51 | 1.31 | 1.82 |
| 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 | −C$90.8M | C$20.2M | C$138.0M | −C$17.4M | −C$125.5M | C$27.7M | C$143.6M | −C$74.0M | −C$74.0M | C$3.7M | C$130.6M | C$4.1M |
| Depreciation & amortization | C$36.1M | C$35.4M | C$33.2M | C$31.7M | C$31.2M | C$33.2M | C$32.6M | C$32.2M | C$32.7M | C$33.9M | C$32.2M | C$30.6M |
| Stock-based compensation | C$5.1M | C$9.4M | C$4.9M | C$5.1M | C$4.1M | C$5.4M | C$3.6M | C$2.2M | C$2.2M | −C$1.3M | C$4.3M | C$4.7M |
| Change in working capital | −C$105.3M | C$15.2M | C$103.2M | −C$77.1M | −C$29.2M | C$52.8M | C$118.4M | −C$63.1M | −C$63.1M | C$31.5M | C$109.0M | −C$67.3M |
| Other non-cash items | −C$35.8M | C$1.6M | C$56.9M | −C$57.6M | −C$23.4M | C$18.6M | C$49.8M | −C$40.2M | −C$40.7M | −C$6.6M | C$72.2M | −C$29.3M |
| Cash from operating activities | −C$190.8M | C$81.8M | C$336.2M | −C$115.3M | −C$142.8M | C$137.7M | C$348.0M | −C$142.9M | −C$142.9M | C$61.1M | C$348.3M | −C$57.2M |
| Investing activities | ||||||||||||
| Capital expenditures | −C$4.7M | −C$16.7M | −C$15.7M | −C$9.8M | −C$1.3M | −C$3.0M | −C$9.9M | −C$2.3M | −C$2.2M | −C$6.5M | −C$15.1M | −C$26.4M |
| Investments (net) | — | — | — | −C$10.2M | −C$1.3M | −C$3.0M | −C$9.9M | −C$3.2M | −C$2.3M | −C$12.7M | −C$27.6M | −C$26.4M |
| Acquisitions & other investing | C$0 | C$0 | −C$100,000 | C$9.8M | C$1.3M | C$3.0M | C$9.9M | C$3.2M | C$2.2M | C$9.8M | C$15.1M | C$26.4M |
| Cash from investing activities | −C$4.7M | −C$16.7M | −C$15.8M | −C$10.2M | −C$1.3M | −C$3.0M | −C$9.9M | −C$2.3M | −C$2.3M | −C$9.4M | −C$27.6M | −C$26.4M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | −C$118.5M |
| Share repurchases & issuance (net) | — | — | — | — | — | — | — | −C$29.9M | −C$27.5M | −C$21.9M | −C$54.3M | −C$29.9M |
| Net borrowing (repayment) | −C$10.9M | −C$35.4M | −C$61.4M | C$38.2M | −C$12.0M | −C$88.0M | −C$124.6M | C$58.5M | — | — | — | C$102.2M |
| Shares issued | C$1.7M | C$0 | C$500,000 | C$0 | C$0 | C$0 | C$600,000 | C$0 | C$0 | C$0 | C$0 | C$100,000 |
| Other financing | −C$1.3M | C$10.0M | C$0 | C$0 | C$0 | C$0 | C$0 | C$31.1M | C$87.2M | −C$36.8M | −C$150.1M | C$118.2M |
| Cash from financing activities | −C$10.5M | −C$25.4M | −C$60.9M | C$38.2M | −C$12.0M | −C$88.0M | −C$124.0M | C$59.7M | C$59.7M | −C$58.7M | −C$204.4M | C$72.1M |
| Summary | ||||||||||||
| Net change in cash | −C$210.0M | C$40.9M | C$252.7M | −C$86.3M | −C$153.9M | C$49.2M | C$216.4M | −C$83.0M | −C$83.0M | −C$9.5M | C$116.8M | −C$10.5M |
| Cash at end of period | C$207.0M | C$293.5M | C$346.9M | C$94.2M | C$180.5M | C$334.4M | C$285.2M | C$61.9M | C$61.9M | C$107.0M | C$154.3M | C$37.5M |
| Free cash flow | −C$195.5M | C$65.1M | C$320.5M | −C$125.1M | −C$144.1M | C$134.7M | C$338.1M | −C$145.2M | −C$145.1M | C$54.6M | C$333.2M | −C$83.6M |
| Free cash flow margin | −164.3% | 14.3% | 46.1% | −45.9% | −133.7% | 35.0% | 55.6% | −54.2% | −164.7% | 15.3% | 54.6% | −29.7% |
| Capex / revenue | 4.0% | 3.7% | 2.3% | 3.6% | 1.2% | 0.8% | 1.6% | 0.9% | 2.5% | 1.8% | 2.5% | 9.4% |
| Operating cash flow / net income | — | 4.05 | 2.44 | — | — | 4.97 | 2.42 | — | — | 16.56 | 2.67 | −13.95 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported; data from EODHD.
GOOS cash generation
In fiscal 2026 (ended March 31, 2026), Canada Goose generated C$192.4 million of cash from operations (down 34.2%) and spent C$50.6 million on capital expenditures, leaving free cash flow of C$141.8 million, 9.3% of revenue. Cash and equivalents rose by C$85.2 million over the year.
Related: GOOS income statement, GOOS balance sheet. See the GOOS stock overview for the latest quote and news.
GOOS cash flow FAQ
What is Canada Goose's free cash flow?
Canada Goose's free cash flow was C$141.8 million in fiscal 2026: C$192.4 million of operating cash flow minus C$50.6 million of capital expenditures It was C$274.0 million a year earlier..
How much cash does Canada Goose generate from operations?
Canada Goose generated C$192.4 million of cash from operating activities in fiscal 2026, 8.53 times its net income of C$22.6 million.
How much does Canada Goose spend on capital expenditures?
Canada Goose spent C$50.6 million on capital expenditures in fiscal 2026, 3.3% of revenue, compared with C$18.4 million the year before.