Ollie's Bargain Outlet Holdings, Inc. (OLLI) Cash Flow Statement
Where OLLI’s cash came from and went, FY2026
January 31, 2026 · U.S. dollars- Cash from operations
- $296.5M +30.4% vs FY2025
- Capital expenditures
- $101.9M 3.8% of revenue
- Free cash flow
- $194.7M 7.3% margin
- Returned to shareholders
- $73.8M 38% of free cash flow
- Change in cash
- $54.6M cash at year-end $259.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
OLLI operating cash flow, capex and free cash flow
OLLI cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $67.1MFY2017 | $296.5MFY2026 | +18.0%/yr | |
| Capital expenditures | $16.4MFY2017 | $101.9MFY2026 | +22.5%/yr | |
| Free cash flow | $50.6MFY2017 | $194.7MFY2026 | +16.1%/yr | |
| Free cash flow margin | 5.7%FY2017 | 7.3%FY2026 | +1.7 pts | |
| Operating cash flow / net income | 1.12FY2017 | 1.23FY2026 | +0.11 | |
| Stock-based compensation | $6.7MFY2017 | $13.1MFY2026 | +7.7%/yr | |
| Dividends paid | $0FY2017 | $1FY2024 | — | |
| Share buybacks (net) | $0FY2017 | $73.8MFY2026 | — | |
| Capex / revenue | 1.8%FY2017 | 3.8%FY2026 | +2.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OLLI cash flow by activity
OLLI 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).
OLLI cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $240.6M | $199.8M | $181.4M | $102.8M | $157.5M | $242.7M | $141.1M | $135.0M | $127.6M | $59.8M |
| Depreciation & amortization | $55.2M | $44.0M | $34.9M | $28.7M | $24.9M | $22.5M | $17.5M | $14.3M | $12.3M | $10.7M |
| Stock-based compensation | $13.1M | $19.4M | $12.2M | $10.0M | $8.0M | $6.5M | $7.3M | $7.3M | $7.4M | $6.7M |
| Change in working capital | −$19.9M | −$43.5M | $25.4M | −$31.5M | −$146.5M | $83.7M | −$64.6M | −$31.2M | −$24.4M | −$4.5M |
| Other non-cash items | $7.6M | $7.8M | $485,000 | $4.4M | $1.2M | $5.9M | $4.0M | $611,000 | −$27.0M | −$5.6M |
| Cash from operating activities | $296.5M | $227.5M | $254.5M | $114.3M | $45.0M | $361.3M | $105.3M | $126.1M | $95.9M | $67.1M |
| Investing activities | ||||||||||
| Capital expenditures | −$101.9M | −$120.6M | −$124.4M | −$51.7M | −$35.0M | −$30.6M | −$77.0M | −$74.2M | −$19.3M | −$16.4M |
| Investments (net) | −$78.3M | −$255.3M | −$150.1M | −$60.2M | −$31.8M | −$30.4M | −$34.1M | −$73.8M | −$19.2M | −$16.4M |
| Acquisitions & other investing | $300,000 | $120.6M | $124.4M | $378,000 | $35.0M | $30.6M | $77.0M | $74.2M | $19.3M | $16.4M |
| Cash from investing activities | −$179.9M | −$255.3M | −$150.1M | −$111.5M | −$31.8M | −$30.4M | −$34.1M | −$73.8M | −$19.2M | −$16.4M |
| Financing activities | ||||||||||
| Dividends paid | — | — | −$1 | −$4.0M | −$8.6M | −$28.1M | −$9.1M | — | $0 | $0 |
| Share repurchases & issuance (net) | −$73.8M | −$53.0M | −$52.5M | −$41.8M | −$220.0M | −$301,000 | −$40.0M | −$702,000 | −$219,000 | $13.3M |
| Net borrowing (repayment) | −$1.2M | −$1.1M | −$1.0M | −$891,000 | −$684,000 | −$429,000 | −$460,000 | −$49.0M | −$146.4M | −$5.1M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $13.0M | $20.9M | $4.8M | $7.5M | $15.9M | $55.2M | $16.4M | $10.2M | $10.4M | $9.6M |
| Cash from financing activities | −$62.1M | −$33.3M | −$48.7M | −$39.3M | −$213.4M | $26.4M | −$33.2M | −$39.5M | −$136.2M | $17.8M |
| Summary | ||||||||||
| Net change in cash | $54.6M | −$61.1M | $55.7M | −$36.4M | −$200.1M | $357.2M | $38.0M | $12.7M | −$59.4M | $68.4M |
| Cash at end of period | $259.7M | $205.1M | $266.3M | $210.6M | $247.0M | $447.1M | $90.0M | $51.9M | $39.2M | $98.7M |
| Free cash flow | $194.7M | $106.9M | $130.1M | $62.7M | $10.0M | $330.7M | $28.4M | $51.9M | $76.7M | $50.6M |
| Free cash flow margin | 7.3% | 4.7% | 6.2% | 3.4% | 0.6% | 18.3% | 2.0% | 4.2% | 7.1% | 5.7% |
| Capex / revenue | 3.8% | 5.3% | 5.9% | 2.8% | 2.0% | 1.7% | 5.5% | 6.0% | 1.8% | 1.8% |
| Operating cash flow / net income | 1.23 | 1.14 | 1.40 | 1.11 | 0.29 | 1.49 | 0.75 | 0.93 | 0.75 | 1.12 |
| 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 | $85.5M | $56.4M | $85.6M | $46.2M | $61.3M | $47.6M | $68.6M | $35.9M | $49.0M | $46.3M | $76.5M | $31.8M |
| Depreciation & amortization | $14.9M | $14.9M | $14.8M | $14.2M | $13.5M | $12.8M | $12.6M | $11.7M | $10.0M | $9.7M | $9.7M | $9.0M |
| Stock-based compensation | $3.7M | $3.4M | $3.3M | $3.3M | $3.4M | $3.2M | $9.0M | $3.6M | $3.7M | $3.1M | $3.2M | $3.0M |
| Change in working capital | $1.6M | −$30.5M | $74.9M | −$58.8M | −$2.2M | −$33.9M | $50.3M | −$56.4M | −$19.2M | −$18.2M | $54.0M | −$42.6M |
| Other non-cash items | $2.5M | $1.3M | $3.9M | −$133,000 | $4.7M | −$878,000 | $7.3M | $853,000 | $495,000 | −$834,000 | $111,000 | −$75,000 |
| Cash from operating activities | $108.1M | $45.5M | $182.4M | $4.8M | $80.7M | $28.7M | $147.8M | −$4.4M | $43.9M | $40.2M | $143.4M | $1.1M |
| Investing activities | ||||||||||||
| Capital expenditures | −$43.3M | −$25.5M | −$18.0M | −$30.7M | −$26.4M | −$26.7M | −$24.4M | −$31.0M | −$38.3M | −$26.9M | −$43.0M | −$36.1M |
| Investments (net) | −$57.9M | −$24.5M | −$15.8M | −$57.6M | −$39.7M | −$18.3M | −$71.9M | −$24.0M | −$90.9M | −$68.5M | −$24.8M | −$11.7M |
| Acquisitions & other investing | $89,000 | $377,000 | $11,000 | $187,000 | $26.4M | $26.7M | $24.4M | $31.0M | $38.3M | $26.9M | $43.0M | $36.1M |
| Cash from investing activities | −$101.1M | −$49.6M | −$33.8M | −$88.1M | −$39.7M | −$18.3M | −$71.9M | −$24.0M | −$90.9M | −$68.5M | −$24.8M | −$11.7M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | −$2.6M |
| Share repurchases & issuance (net) | −$84.0M | −$53.4M | −$33.6M | −$11.6M | −$11.5M | −$17.1M | −$5.7M | −$15.8M | −$6.4M | −$25.0M | −$12.7M | −$13.4M |
| Net borrowing (repayment) | −$268,000 | −$156,000 | −$253,000 | −$344,000 | −$250,000 | −$320,000 | −$282,000 | −$204,000 | −$255,000 | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $295,000 | −$4.4M | $325,000 | $8.8M | $2.9M | $886,000 | $6.6M | $2.5M | $12.0M | −$674,000 | $795,000 | $4.8M |
| Cash from financing activities | −$83.9M | −$57.9M | −$33.6M | −$3.1M | −$8.8M | −$16.5M | $573,000 | −$13.5M | $5.4M | −$25.7M | −$11.9M | −$11.2M |
| Summary | ||||||||||||
| Net change in cash | −$76.9M | −$62.0M | $115.0M | −$86.5M | $32.1M | −$6.1M | $76.4M | −$41.9M | −$41.6M | −$54.0M | $106.7M | −$21.9M |
| Cash at end of period | $120.8M | $197.7M | $259.7M | $144.7M | $231.2M | $199.0M | $205.1M | $128.7M | $170.6M | $212.2M | $266.3M | $159.6M |
| Free cash flow | $64.8M | $20.0M | $164.4M | −$26.0M | $54.3M | $2.0M | $123.4M | −$35.4M | $5.6M | $13.3M | $100.4M | −$35.0M |
| Free cash flow margin | 8.7% | 3.0% | 21.1% | −4.2% | 8.0% | 0.3% | 18.5% | −6.8% | 1.0% | 2.6% | 15.5% | −7.3% |
| Capex / revenue | 5.8% | 3.9% | 2.3% | 5.0% | 3.9% | 4.6% | 3.7% | 6.0% | 6.6% | 5.3% | 6.6% | 7.5% |
| Operating cash flow / net income | 1.27 | 0.81 | 2.13 | 0.10 | 1.32 | 0.60 | 2.16 | −0.12 | 0.90 | 0.87 | 1.88 | 0.03 |
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.
OLLI cash generation
In fiscal 2026 (ended January 31, 2026), Ollie's Bargain Outlet generated $296.5 million of cash from operations (up 30.4%) and spent $101.9 million on capital expenditures, leaving free cash flow of $194.7 million, 7.3% of revenue. It returned $73.8 million to shareholders through dividends ($0) and net share buybacks ($73.8 million). Cash and equivalents rose by $54.6 million over the year.
Related: OLLI income statement, OLLI balance sheet. See the OLLI stock overview for the latest quote and news.
OLLI cash flow FAQ
What is Ollie's Bargain Outlet's free cash flow?
Ollie's Bargain Outlet's free cash flow was $194.7 million in fiscal 2026: $296.5 million of operating cash flow minus $101.9 million of capital expenditures It was $106.9 million a year earlier..
How much cash does Ollie's Bargain Outlet generate from operations?
Ollie's Bargain Outlet generated $296.5 million of cash from operating activities in fiscal 2026, 1.23 times its net income of $240.6 million.
How much does Ollie's Bargain Outlet spend on capital expenditures?
Ollie's Bargain Outlet spent $101.9 million on capital expenditures in fiscal 2026, 3.8% of revenue, compared with $120.6 million the year before.
How much stock does Ollie's Bargain Outlet buy back?
Ollie's Bargain Outlet spent $73.8 million on net share repurchases in fiscal 2026.