Kennametal Inc. (KMT) Cash Flow Statement
Where KMT’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- −$4.0M −101.9% vs FY2025
- Capital expenditures
- $76.9M 3.3% of revenue
- Free cash flow
- −$80.9M −3.4% margin
- Returned to shareholders
- $71.0M
- Change in cash
- −$44.7M cash at year-end $95.8M
Drawn to scale: where the cash came from and how it was used. Hover for values.
KMT operating cash flow, capex and free cash flow
KMT cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $192.2MFY2017 | −$4.0MFY2026 | — | |
| Capital expenditures | $118.0MFY2017 | $76.9MFY2026 | −4.6%/yr | |
| Free cash flow | $74.2MFY2017 | −$80.9MFY2026 | — | |
| Free cash flow margin | 3.6%FY2017 | −3.4%FY2026 | −7.0 pts | |
| Operating cash flow / net income | 3.70FY2017 | −0.01FY2026 | −3.71 | |
| Stock-based compensation | $21.1MFY2017 | $34.9MFY2026 | +5.8%/yr | |
| Dividends paid | $64.1MFY2017 | $60.8MFY2026 | −0.6%/yr | |
| Share buybacks (net) | $241,000FY2017 | $10.1MFY2026 | +51.5%/yr | |
| Capex / revenue | 5.7%FY2017 | 3.3%FY2026 | −2.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KMT cash flow by activity
KMT 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).
KMT cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $350.4M | $93.1M | $109.3M | $123.4M | $150.2M | $58.4M | −$5.0M | $247.9M | $205.1M | $52.0M |
| Depreciation & amortization | $143.2M | $136.5M | $134.7M | $134.0M | $131.7M | $126.5M | $119.9M | $112.1M | $108.7M | $107.7M |
| Stock-based compensation | $34.9M | $22.1M | $24.3M | $24.7M | $21.0M | $24.8M | $16.0M | $22.8M | $20.8M | $21.1M |
| Change in working capital | −$594.5M | −$39.2M | −$1.1M | −$26.1M | −$128.7M | $25.7M | $73.5M | −$87.5M | −$84.6M | $3.3M |
| Other non-cash items | $62.1M | −$4.2M | $9.9M | $2.0M | $7.3M | $300,000 | $19.4M | $5.3M | $27.3M | $8.2M |
| Cash from operating activities | −$4.0M | $208.3M | $277.1M | $257.9M | $181.4M | $235.7M | $223.7M | $300.5M | $277.3M | $192.2M |
| Investing activities | ||||||||||
| Capital expenditures | −$76.9M | −$89.0M | −$107.6M | −$94.4M | −$96.9M | −$127.3M | −$244.2M | −$212.3M | −$171.0M | −$118.0M |
| Investments (net) | — | −$61.8M | −$109.4M | −$89.2M | −$94.9M | −$123.0M | −$218.3M | −$201.5M | −$156.9M | −$112.7M |
| Acquisitions & other investing | $5.6M | $89.0M | $107.6M | $94.4M | $96.9M | $127.3M | $244.2M | $212.3M | $171.0M | $118.0M |
| Cash from investing activities | −$71.3M | −$61.8M | −$109.4M | −$89.2M | −$94.9M | −$123.0M | −$218.3M | −$201.5M | −$156.9M | −$112.7M |
| Financing activities | ||||||||||
| Dividends paid | −$60.8M | −$61.9M | −$63.4M | −$64.5M | −$66.6M | −$66.7M | −$66.3M | −$65.7M | −$65.1M | −$64.1M |
| Share repurchases & issuance (net) | −$10.1M | −$60.1M | −$65.6M | −$49.3M | −$85.5M | −$197,000 | −$209,000 | −$214,000 | −$217,000 | −$241,000 |
| Net borrowing (repayment) | $118.9M | −$459,000 | $714,000 | −$20.3M | $12.9M | −$501.5M | $500.2M | −$400.9M | $296.2M | −$918,000 |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$16.3M | −$11.5M | −$13.5M | −$9.0M | −$11.6M | −$5.8M | −$8.2M | −$4.6M | $16.4M | $15.1M |
| Cash from financing activities | $31.6M | −$133.9M | −$141.7M | −$143.1M | −$150.7M | −$574.2M | $425.5M | −$471.4M | $247.2M | −$50.1M |
| Summary | ||||||||||
| Net change in cash | −$44.7M | $12.6M | $21.9M | $20.4M | −$68.5M | −$452.6M | $424.7M | −$374.1M | $365.5M | $29.1M |
| Cash at end of period | $95.8M | $140.5M | $128.0M | $106.0M | $85.6M | $154.0M | $606.7M | $182.0M | $556.2M | $190.6M |
| Free cash flow | −$80.9M | $119.4M | $169.5M | $163.6M | $84.5M | $108.4M | −$20.4M | $88.2M | $106.3M | $74.2M |
| Free cash flow margin | −3.4% | 6.1% | 8.3% | 7.9% | 4.2% | 5.9% | −1.1% | 3.7% | 4.5% | 3.6% |
| Capex / revenue | 3.3% | 4.5% | 5.3% | 4.5% | 4.8% | 6.9% | 13.0% | 8.9% | 7.2% | 5.7% |
| Operating cash flow / net income | −0.01 | 2.24 | 2.53 | 2.09 | 1.21 | 4.03 | — | 1.21 | 1.35 | 3.70 |
| 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 | $229.5M | $61.1M | $35.2M | $24.6M | $23.1M | $33.1M | $20.4M | $22.1M | $38.2M | $20.7M | $24.3M | $30.4M |
| Depreciation & amortization | $35.6M | $38.2M | $34.4M | $35.0M | $35.1M | $33.9M | $28.6M | $33.6M | $35.0M | $33.4M | $32.8M | $30.5M |
| Stock-based compensation | $8.8M | $9.1M | $8.7M | $8.2M | $3.8M | $5.0M | $5.4M | $7.9M | $3.7M | $6.0M | $6.0M | $8.7M |
| Change in working capital | −$403.9M | −$113.4M | −$24.4M | −$52.8M | $25.4M | −$46.8M | $15.3M | −$15.3M | $47.7M | $6.2M | $465,000 | −$34.9M |
| Other non-cash items | $56.3M | $2.2M | $1.2M | $2.4M | −$8.7M | $3.7M | −$14.6M | −$2.6M | −$10.9M | $8.8M | −$934,000 | −$8.9M |
| Cash from operating activities | −$73.7M | −$2.9M | $55.1M | $17.5M | $78.6M | $28.8M | $55.2M | $45.7M | $113.6M | $75.2M | $62.6M | $25.7M |
| Investing activities | ||||||||||||
| Capital expenditures | −$23.2M | −$18.0M | −$12.7M | −$23.0M | −$21.5M | −$23.5M | −$19.2M | −$24.7M | −$23.3M | −$26.8M | −$25.7M | −$31.8M |
| Investments (net) | — | — | — | — | −$1.8M | −$23.5M | −$16.6M | −$20.0M | −$23.3M | −$29.7M | −$27.7M | −$28.7M |
| Acquisitions & other investing | $3.6M | $148,000 | $1.6M | $276,000 | $21.5M | $23.5M | $19.2M | $24.7M | $23.3M | $26.8M | $25.7M | $31.8M |
| Cash from investing activities | −$19.7M | −$17.8M | −$11.1M | −$22.7M | −$1.8M | −$23.5M | −$16.6M | −$20.0M | −$23.3M | −$29.7M | −$27.7M | −$28.7M |
| Financing activities | ||||||||||||
| Dividends paid | −$15.2M | −$15.2M | −$15.2M | −$15.1M | −$15.2M | −$15.5M | −$15.6M | −$15.6M | −$15.7M | −$15.9M | −$15.9M | −$7.0M |
| Share repurchases & issuance (net) | −$38,000 | $10.1M | −$38,000 | −$10.0M | −$5.0M | −$25.0M | −$15.0M | −$15.0M | −$21.8M | −$15.0M | −$15.0M | −$13.7M |
| Net borrowing (repayment) | $103.2M | $15.2M | $0 | $421,000 | −$11.6M | $11.1M | $0 | $0 | −$10.9M | — | — | $30.6M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$6.2M | −$10.6M | −$3.2M | −$6.3M | −$4.0M | −$646,000 | −$1.1M | −$5.7M | −$4.6M | −$11.3M | −$9.5M | −$15.9M |
| Cash from financing activities | $81.8M | −$560,000 | −$18.5M | −$31.1M | −$35.9M | −$30.0M | −$31.7M | −$36.4M | −$53.1M | −$42.2M | −$40.5M | −$6.1M |
| Summary | ||||||||||||
| Net change in cash | −$11.1M | −$22.5M | $25.8M | −$37.0M | $43.1M | −$23.7M | $1.6M | −$8.4M | $35.9M | $1.4M | −$4.4M | −$137.8M |
| Cash at end of period | $95.8M | $106.8M | $129.3M | $103.5M | $140.5M | $97.5M | $121.2M | $119.6M | $128.0M | $92.1M | $90.7M | −$31.8M |
| Free cash flow | −$96.9M | −$20.9M | $42.4M | −$5.5M | $57.1M | $5.3M | $35.9M | $21.0M | $90.3M | $48.4M | $36.9M | −$6.1M |
| Free cash flow margin | −13.2% | −3.5% | 8.0% | −1.1% | 11.1% | 1.1% | 7.5% | 4.4% | 16.6% | 9.4% | 7.5% | −1.2% |
| Capex / revenue | 3.2% | 3.0% | 2.4% | 4.6% | 4.2% | 4.8% | 4.0% | 5.1% | 4.3% | 5.2% | 5.2% | 6.5% |
| Operating cash flow / net income | −0.32 | −0.05 | 1.57 | 0.71 | 3.40 | 0.87 | 2.71 | 2.07 | 2.97 | 3.63 | 2.57 | 0.85 |
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.
KMT cash generation
In fiscal 2026 (ended June 30, 2026), Kennametal generated -$4.0 million of cash from operations (down 101.9%) and spent $76.9 million on capital expenditures, leaving free cash flow of -$80.9 million, −3.4% of revenue. It returned $71.0 million to shareholders through dividends ($60.8 million) and net share buybacks ($10.1 million). Cash and equivalents fell by $44.7 million over the year.
Related: KMT income statement, KMT balance sheet, KMT dividend history. See the KMT stock overview for the latest quote and news.
KMT cash flow FAQ
What is Kennametal's free cash flow?
Kennametal's free cash flow was -$80.9 million in fiscal 2026: -$4.0 million of operating cash flow minus $76.9 million of capital expenditures It was $119.4 million a year earlier..
How much cash does Kennametal generate from operations?
Kennametal generated -$4.0 million of cash from operating activities in fiscal 2026, −0.01 times its net income of $350.4 million.
How much does Kennametal spend on capital expenditures?
Kennametal spent $76.9 million on capital expenditures in fiscal 2026, 3.3% of revenue, compared with $89.0 million the year before.
How much stock does Kennametal buy back?
Kennametal spent $10.1 million on net share repurchases in fiscal 2026.
How much does Kennametal pay in dividends?
Kennametal paid $60.8 million in dividends in fiscal 2026.