Penguin Solutions, Inc. (PENG) Cash Flow Statement
Where PENG’s cash came from and went, FY2026
August 31, 2026 · U.S. dollars- Cash from operations
- −$151.9M −239.3% vs FY2025
- Capital expenditures
- $11.6M 0.7% of revenue
- Free cash flow
- −$163.5M −9.4% margin
- Returned to shareholders
- $86.7M
- Change in cash
- $193.5M cash at year-end $647.2M
Drawn to scale: where the cash came from and how it was used. Hover for values.
PENG operating cash flow, capex and free cash flow
PENG cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | −$933,000FY2017 | −$151.9MFY2026 | — | |
| Capital expenditures | $18.7MFY2017 | $11.6MFY2026 | −5.2%/yr | |
| Free cash flow | −$19.6MFY2017 | −$163.5MFY2026 | — | |
| Free cash flow margin | −2.6%FY2017 | −9.4%FY2026 | −6.9 pts | |
| Operating cash flow / net income | 0.57FY2018 | −0.84FY2026 | −1.41 | |
| Stock-based compensation | $5.4MFY2017 | $31.8MFY2026 | +21.9%/yr | |
| Share buybacks (net) | $1.6MFY2018 | $86.7MFY2026 | +64.8%/yr | |
| Capex / revenue | 2.5%FY2017 | 0.7%FY2026 | −1.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PENG cash flow by activity
PENG 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).
PENG cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $180.6M | $28.8M | −$44.3M | $9.7M | $24.4M | −$42.0M | −$1.1M | $51.3M | $119.5M | −$7.8M |
| Depreciation & amortization | $50.2M | $56.2M | $65.7M | $71.6M | $46.7M | $34.9M | $36.4M | $29.2M | $26.2M | $33.2M |
| Stock-based compensation | $31.8M | $41.2M | $43.2M | $39.2M | $37.3M | $31.0M | $18.7M | $18.2M | $10.6M | $5.4M |
| Change in working capital | −$374.0M | −$19.1M | $54.7M | $8.4M | −$122.3M | $60.3M | $10.3M | $70.8M | −$86.3M | −$61.2M |
| Other non-cash items | −$40.5M | $2.0M | −$42.0M | −$24.5M | $118.9M | $69.1M | $22.9M | $90,000 | −$2.0M | $29.5M |
| Cash from operating activities | −$151.9M | $109.1M | $77.2M | $104.4M | $104.9M | $153.3M | $87.2M | $169.7M | $67.9M | −$933,000 |
| Investing activities | ||||||||||
| Capital expenditures | −$11.6M | −$9.0M | −$19.4M | −$39.4M | −$20.4M | −$16.7M | −$32.4M | −$33.4M | −$25.7M | −$18.7M |
| Investments (net) | — | $25.0M | $107.6M | −$298.6M | −$39.0M | −$84.2M | −$32.0M | — | — | — |
| Acquisitions & other investing | $69.7M | $9.0M | $19.4M | $39.4M | $20.4M | $16.7M | $32.4M | −$76.0M | −$42.0M | $651,000 |
| Cash from investing activities | $58.1M | $25.0M | $107.6M | −$298.6M | −$39.0M | −$84.2M | −$32.0M | −$109.4M | −$67.7M | −$18.0M |
| Financing activities | ||||||||||
| Dividends paid | — | −$7.9M | — | — | — | — | — | — | — | — |
| Share repurchases & issuance (net) | −$86.7M | −$60.2M | −$21.3M | −$24.7M | −$57.2M | −$48.5M | −$749,000 | −$520,000 | −$1.6M | — |
| Net borrowing (repayment) | — | −$200.0M | −$158.6M | $273.7M | $119.1M | — | — | — | — | — |
| Shares issued | $0 | $200.0M | $9.8M | $43.0M | $12.1M | $14.9M | $5.5M | $0 | $0 | $0 |
| Other financing | $373.9M | $4.6M | −$40.0M | −$55.6M | −$86,000 | $36.4M | $7.9M | $620,000 | $9.5M | −$17.0M |
| Cash from financing activities | $287.3M | −$63.5M | −$210.1M | $236.4M | $73.9M | $2.8M | $12.6M | $100,000 | $7.9M | −$17.0M |
| Summary | ||||||||||
| Net change in cash | $193.5M | $70.6M | −$26.6M | $47.0M | $140.1M | $72.2M | $52.7M | $60.9M | $7.8M | −$36.0M |
| Cash at end of period | $647.2M | $454.1M | $383.5M | $410.1M | $363.1M | $223.0M | $150.8M | $98.1M | $37.2M | $29.5M |
| Free cash flow | −$163.5M | $100.1M | $57.8M | $65.0M | $84.6M | $136.7M | $54.8M | $136.2M | $42.2M | −$19.6M |
| Free cash flow margin | −9.4% | 7.3% | 4.9% | 4.5% | 6.1% | 12.9% | 4.9% | 11.2% | 3.3% | −2.6% |
| Capex / revenue | 0.7% | 0.7% | 1.7% | 2.7% | 1.5% | 1.6% | 2.9% | 2.8% | 2.0% | 2.5% |
| Operating cash flow / net income | −0.84 | 3.78 | — | 10.77 | 4.30 | — | — | 3.31 | 0.57 | — |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $91.9M | $46.2M | $37.5M | $5.0M | $10.6M | $3.5M | $8.9M | $6.0M | −$24.5M | $6.2M | −$13.0M | −$11.2M |
| Depreciation & amortization | $12.3M | $12.3M | $12.8M | $12.8M | $13.2M | $14.0M | $14.0M | $15.0M | $15.4M | $15.5M | $17.1M | $17.7M |
| Stock-based compensation | $6.6M | $10.0M | $5.1M | $10.1M | $7.8M | $10.3M | $11.6M | $11.5M | $10.4M | $11.2M | $10.6M | $11.0M |
| Change in working capital | −$252.7M | −$139.9M | $26.2M | −$10.8M | −$96.2M | $63.7M | $32.1M | −$19.1M | −$30.0M | $52.4M | −$9.3M | $40.9M |
| Other non-cash items | −$24.7M | −$3.4M | −$26.6M | $13.9M | −$2.4M | $4.4M | $6.3M | $452,000 | $13.1M | −$5.6M | −$27.4M | −$26.8M |
| Cash from operating activities | −$166.5M | −$74.8M | $55.0M | $31.1M | −$67.1M | $95.8M | $72.9M | $13.8M | −$15.7M | $79.8M | −$21.9M | $31.5M |
| Investing activities | ||||||||||||
| Capital expenditures | −$4.2M | −$2.8M | −$1.6M | −$2.9M | −$3.2M | −$2.0M | −$2.3M | −$1.8M | −$4.7M | −$3.8M | −$5.2M | −$4.6M |
| Investments (net) | — | $39.6M | $32.2M | $0 | $22.4M | $25.9M | −$4.3M | −$18.9M | −$8.3M | $5.1M | −$4.5M | $115.3M |
| Acquisitions & other investing | −$1.8M | −$492,000 | −$319,000 | −$521,000 | $4.2M | $1.5M | $2.3M | $1.8M | −$323,003 | $3.8M | $5.2M | $4.6M |
| Cash from investing activities | −$6.1M | $36.2M | $30.3M | −$3.4M | $23.3M | $25.3M | −$4.3M | −$18.9M | −$13.3M | $5.1M | −$4.5M | $115.3M |
| Financing activities | ||||||||||||
| Dividends paid | — | −$2.9M | −$3.1M | −$3.1M | −$5.1M | −$2.9M | −$2.2M | $0 | — | $0 | — | — |
| Share repurchases & issuance (net) | −$17.1M | −$11.8M | −$36.9M | −$20.2M | $49.2M | −$32.3M | −$6.5M | −$11.1M | −$2.2M | −$2.1M | −$2.7M | −$13.1M |
| Net borrowing (repayment) | — | $0 | — | — | −$200.0M | $0 | $0 | $0 | −$32.0M | — | — | — |
| Shares issued | $0 | $4.3M | $2.5M | $3.3M | $1.1M | $4.0M | $191.6M | $3.4M | $1.7M | $3.8M | $792,000 | $3.5M |
| Other financing | $361.6M | $38.0M | −$20.0M | $0 | −$56.2M | $5.9M | $0 | $0 | −$6.2M | −$75.0M | −$58.2M | −$17.1M |
| Cash from financing activities | $344.5M | $27.7M | −$57.5M | −$20.0M | −$211.0M | −$25.4M | $182.9M | −$7.8M | −$38.7M | −$73.3M | −$60.2M | −$26.8M |
| Summary | ||||||||||||
| Net change in cash | $168.9M | −$10.9M | $27.7M | $7.7M | −$256.1M | $88.2M | $251.4M | −$12.9M | −$70.6M | $11.5M | −$86.7M | $119.0M |
| Cash at end of period | $647.2M | $478.6M | $489.5M | $461.8M | $454.1M | $710.2M | $622.0M | $370.6M | $383.5M | $453.8M | $442.3M | $529.1M |
| Free cash flow | −$170.8M | −$77.6M | $53.3M | $28.2M | −$70.3M | $93.8M | $70.5M | $12.0M | −$20.4M | $76.0M | −$27.1M | $26.8M |
| Free cash flow margin | −30.1% | −16.2% | 15.6% | 8.2% | −20.8% | 28.9% | 19.3% | 3.5% | −6.6% | 25.3% | −9.5% | 9.8% |
| Capex / revenue | 0.7% | 0.6% | 0.5% | 0.8% | 1.0% | 0.6% | 0.6% | 0.5% | 1.5% | 1.3% | 1.8% | 1.7% |
| Operating cash flow / net income | −1.81 | −1.62 | 1.47 | 6.16 | −6.36 | 27.77 | 8.22 | 2.32 | — | 12.81 | — | — |
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.
PENG cash generation
In fiscal 2026 (ended August 31, 2026), Penguin Solutions generated -$151.9 million of cash from operations (down 239.3%) and spent $11.6 million on capital expenditures, leaving free cash flow of -$163.5 million, −9.4% of revenue. It returned $86.7 million to shareholders through dividends ($0) and net share buybacks ($86.7 million). Cash and equivalents rose by $193.5 million over the year.
Related: PENG income statement, PENG balance sheet. See the PENG stock overview for the latest quote and news.
PENG cash flow FAQ
What is Penguin Solutions's free cash flow?
Penguin Solutions's free cash flow was -$163.5 million in fiscal 2026: -$151.9 million of operating cash flow minus $11.6 million of capital expenditures It was $100.1 million a year earlier..
How much cash does Penguin Solutions generate from operations?
Penguin Solutions generated -$151.9 million of cash from operating activities in fiscal 2026, −0.84 times its net income of $180.6 million.
How much does Penguin Solutions spend on capital expenditures?
Penguin Solutions spent $11.6 million on capital expenditures in fiscal 2026, 0.7% of revenue, compared with $9.0 million the year before.
How much stock does Penguin Solutions buy back?
Penguin Solutions spent $86.7 million on net share repurchases in fiscal 2026.