Free cash flow remains highly erratic, with a marginal 1.2% FCF margin in 2026Q2 following significant volatility in working capital, which saw a $1.3 million outflow in the prior quarter.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 | Sep'07 | Sep'06 | Sep'05 | Sep'04 | Sep'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Cash from Operations | 828K | 549K | 202K | 5.89M | 9.23M | 370K | -2.25M | -394K | 1.51M | 222K | 723K | -650K | 286K | -1.07M | 95K | -2.29M | -1.86M | -2.69M | -1.55M | 1.31M | 1M | 857K | -167K | -728K | -2.85M | -1.42M | 2.71M | 2.7M | 3.2M | 2.3M | 2.5M |
| Operating CF Margin % | - | 0.57% | 0.17% | 3.86% | 5.59% | 0.25% | -1.73% | -0.26% | 0.91% | 0.16% | 0.87% | -1.5% | 0.72% | -2.3% | 0.18% | -6.16% | -15.65% | -25.93% | -10.17% | 6.67% | 4.99% | 4.21% | -0.93% | -3.91% | -14% | -4.56% | 6.81% | 6.82% | 8.72% | 7.85% | 10.78% |
| Operating CF Growth % | 1612.65% | 171.78% | -96.57% | -36.18% | 2394.32% | 116.47% | -470.3% | -126.14% | 578.83% | -69.29% | 211.23% | -327.27% | 126.7% | -1227.37% | 104.15% | -22.79% | 30.8% | -73.87% | -217.96% | 31.14% | 16.92% | 613.17% | 77.06% | 74.41% | -101.06% | -152.23% | 0.33% | -15.63% | 39.13% | -8% | 108.33% |
| Net Income | -1.07M | -34.75M | -24.1M | 9.42M | 19.6M | 6K | -14.35M | -17.76M | -7.56M | -2.37M | 1.17M | -4.66M | -1.13M | -1.57M | -1.01M | 358K | -1.56M | -4.23M | -1.81M | 914K | 1M | 671K | -1.4M | -3.51M | -3.21M | -1.07M | 2.53M | 3M | 3.1M | 2.4M | 1.6M |
| Depreciation & Amortization | 1.77M | 2.31M | 4.11M | 3.26M | 3.84M | 4.4M | 5.29M | 5.93M | 5.97M | 3.95M | 1.87M | 733K | 498K | 485K | 546K | 713K | 243K | 260K | 255K | 231K | 165K | 210K | 524K | 850K | 854K | 857K | 597K | 400K | 200K | 200K | 100K |
| Stock-Based Compensation | 418K | 546K | 587K | 864K | 635K | 970K | 1.56M | 2.19M | 1.66M | 902K | 793K | 340K | 98K | 68K | 422K | 8K | 11K | 978K | -601K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | -205K | 9.61M | -2.43M | -7.59M | -63K | 161K | 130K | 154K | -812K | -6.01M | -44K | 2.54M | 349K | 0 | 0 | 768K | 0 | -978K | 601K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100K | 100K |
| Other Non-Cash Items | -91K | 22.03M | 20.68M | 1.49M | -12.63M | 3.5M | 3.24M | 6.99M | 1.89M | 2.72M | -1.37M | 189K | 20K | 261K | 765K | -732K | 46K | 952K | 70K | 0 | 0 | 28K | 619K | 77K | 138K | 22K | -113K | 100K | 0 | 200K | 0 |
| Working Capital Changes | 3K | 800K | 1.36M | -1.56M | -2.15M | -8.66M | 1.89M | 2.11M | 365K | 1.03M | -1.7M | 210K | 446K | -319K | -627K | -3.4M | -609K | 321K | -69K | 169K | -165K | -52K | 87K | 1.85M | -623K | -1.23M | -307K | -800K | -100K | -400K | 700K |
| Change in Receivables | 2.38M | 3.75M | 4.66M | 4.5M | -152K | -6.48M | 3.22M | -284K | 1.97M | -2.39M | -100K | 223K | 1.47M | -675K | -648K | -5.25M | -382K | 276K | 601K | 0 | 0 | -195K | 149K | 1.64M | 0 | 0 | -407K | -400K | -200K | -700K | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 513K | 0 | 0 | 0 | 3.62M | 0 | 857K | -704K | 0 | 0 | 1.62M | 103K | -335K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -748K | -1.05M | -775K | -196K | 701K | 206K | -2.16M | 1.21M | -720K | 446K | 343K | -1.07M | -105K | 842K | -312K | 378K | -241K | 264K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 916K | 54K | -58K | -89K | -328K | -126K | -119K | -209K | -324K | -25.61M | -9.52M | -2.76M | -371K | -345K | -511K | -284K | 0 | -48K | -122K | -364K | -334K | -69K | 686K | -126K | 276K | 2.74M | -244K | -1.9M | -2M | -4.6M | -300K |
| Capital Expenditures | -834K | -16K | -58K | -89K | -328K | -126K | -119K | -209K | -324K | -250K | -120K | -186K | -146K | -191K | -261K | -84K | 0 | -48K | -122K | -364K | -334K | -69K | -19K | -107K | -17K | 0 | -1.58M | -800K | -300K | -400K | -200K |
| CapEx % of Revenue | 0.95% | 0.02% | 0.05% | 0.06% | 0.2% | 0.08% | 0.09% | 0.14% | 0.2% | 0.19% | 0.14% | 0.43% | 0.37% | 0.41% | 0.5% | 0.23% | - | 0.46% | 0.8% | 1.85% | 1.66% | 0.34% | 0.11% | 0.57% | 0.08% | - | 3.98% | 2.02% | 0.82% | 1.37% | 0.86% |
| Acquisitions | 1.04M | -968K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -25.36M | -9.39M | -2.35M | 0 | 0 | -200K | -200K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -19K | -207K | -2.26M | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 712K | 1.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -250K | 0 | -225K | -225K | -154K | -50K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 705K | 0 | 0 | 0 | 0 | -300K | -300K | -100K | -100K |
| Cash from Financing | -89K | -67K | -1.79M | -2.18M | -167K | -4.37M | 12.38M | 1.45M | -755K | 25.64M | 5.39M | 9.18M | -108K | 1.41M | 466K | 1.94M | 0 | 1.39M | -507K | -510K | 0 | 11K | 13K | 0 | 35K | -1.27M | -254K | -200K | 100K | -100K | 600K |
| Debt Issued (Net) | -62K | -67K | -212K | -194K | -167K | -56.02M | 15.32M | 1.45M | -755K | 24.64M | 5.39M | -598K | -763K | 1.41M | 466K | 1.94M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 0 | 0 | -1.57M | -1.98M | 0 | 52.41M | -2.93M | 0 | 0 | 0 | 0 | 9.58M | 655K | 0 | 0 | 5K | 0 | 1.93M | 10K | 5K | 0 | 11K | 13K | 0 | 35K | 0 | 0 | 0 | 300K | 100K | 700K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -517K | -515K | 0 | 0 | 0 | 0 | 0 | -1.27M | -254K | -200K | -200K | -200K | -100K |
| Share Repurchases | 0 | 0 | -1.57M | -1.98M | 0 | 0 | -2.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -27K | 0 | 0 | 0 | 0 | -764K | 0 | 0 | 0 | 1M | 0 | 194K | 185K | 0 | 0 | 0 | 0 | -541K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Change in Cash | 1.66M | 536K | -1.64M | 3.62M | 8.9M | -4.13M | 10.02M | 842K | 428K | 257K | -3.4M | 5.76M | -193K | -3K | 50K | -631K | -1.86M | -1.35M | -2.18M | 440K | 668K | 799K | 532K | -854K | -2.53M | 57K | 2.21M | 500K | 1.3M | -2.4M | 2.8M |
| Free Cash Flow | 726K | 533K | 144K | 5.8M | 8.9M | 244K | -2.37M | -603K | 1.18M | -28K | 603K | -836K | 140K | -1.26M | -166K | -2.37M | -1.86M | -2.74M | -1.67M | 950K | 668K | 788K | -186K | -835K | -2.86M | -1.42M | 1.13M | 1.9M | 2.9M | 1.9M | 2.3M |
| FCF Margin % | 0.83% | 0.55% | 0.12% | 3.81% | 5.39% | 0.16% | -1.82% | -0.4% | 0.72% | -0.02% | 0.73% | -1.93% | 0.35% | -2.71% | -0.32% | -6.38% | -15.65% | -26.39% | -10.97% | 4.82% | 3.33% | 3.87% | -1.03% | -4.49% | -14.09% | -4.56% | 2.83% | 4.8% | 7.9% | 6.48% | 9.91% |
| FCF Growth % | 154.67% | 270.14% | -97.52% | -34.83% | 3547.95% | 110.31% | -292.37% | -150.97% | 4325% | -104.64% | 172.13% | -697.14% | 111.09% | -660.24% | 93.01% | -27.29% | 32.01% | -64.05% | -276% | 42.22% | -15.23% | 523.66% | 77.72% | 70.82% | -102.26% | -225.67% | -40.74% | -34.48% | 52.63% | -17.39% | 109.09% |
| FCF per Share | 0.01 | 0.00 | 0.00 | 0.05 | 0.08 | 0.00 | -0.11 | -0.05 | 0.12 | -0.00 | 0.06 | -0.20 | 0.06 | -0.57 | -0.08 | -1.27 | -1.34 | -3.79 | -3.24 | 1.77 | 1.25 | 1.47 | -0.36 | -1.63 | -5.59 | -2.78 | 2.20 | 3.71 | 5.46 | 3.80 | 4.74 |
| FCF Conversion (FCF/Net Income) | -0.68x | -0.02x | -0.01x | 0.63x | 0.47x | 61.67x | 0.16x | 0.02x | -0.20x | -0.09x | 0.62x | 0.14x | -0.21x | 0.57x | -0.09x | -6.40x | 1.20x | 0.64x | 0.86x | 1.44x | 1.00x | 1.28x | 0.12x | 0.21x | 0.89x | 1.33x | 1.07x | 0.90x | 1.03x | 0.96x | 1.56x |
| Interest Paid | -28K | 180K | 169K | 183K | 192K | 3.67M | 7.79M | 10.14M | 9.79M | 3.38M | 1.07M | 274K | 210K | 248K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | -10K | 72K | 43K | 464K | 482K | 293K | 80K | 92K | 45K | 247K | 3K | 4K | 24K | 8K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent revenue contraction
According to the provided financial data, GEE Group exhibits extreme volatility in the relationship between net income and operating cash flow, with OCF/NI ratios fluctuating wildly from 23.71 in 2026Q2 to negative values in prior periods, suggesting that reported earnings are heavily distorted by non-cash items.
The wide variance between net income and operating cash flow indicates that accounting earnings are not a reliable proxy for the company's actual cash-generating capacity. Investors should interpret these swings as evidence of significant non-cash charges, likely impairments, which mask the underlying operational cash burn or accumulation.
As reported in financial statements, GEE Group's free cash flow trajectory remains highly erratic, oscillating between positive and negative territory over the last ten quarters, with a recent FCF margin of 1.2% in 2026Q2 failing to establish a clear trend of sustainable cash generation for shareholders.
The inability to maintain consistent positive free cash flow suggests that the business model is highly sensitive to working capital swings and revenue volatility. This inconsistency warrants further investigation into whether the firm can achieve self-sustaining operations without relying on periodic cash injections or balance sheet adjustments.
Based on the company's reported figures, working capital changes have been the primary driver of cash flow fluctuations, with a notable $2.3 million inflow in 2025Q4 followed by a $1.3 million outflow in 2026Q1, highlighting the cyclical nature of the firm's receivables and payables management.
The reliance on working capital shifts to generate cash flow suggests that the core business operations are not yet producing reliable organic cash. Investors should monitor the efficiency of collections and the timing of contractor payments, as these factors appear to dictate the firm's immediate liquidity position more than operational profitability.
Data from recent filings indicates that depreciation and amortization expenses, often exceeding $500,000 per quarter, consistently dwarf net income figures, suggesting that the company's reported losses are significantly exacerbated by accounting treatments related to historical acquisitions rather than purely operational cash outflows.
The persistent gap between net losses and operating cash flow implies that the company's true operational health is obscured by these non-cash expenses. Analysts should focus on the cash flow statement to strip away these accounting artifacts and determine if the underlying staffing business is actually viable at current scale.
Quick answers to the most common questions about buying JOB stock.
GEE Group, Inc. (JOB) generated $0.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
GEE Group, Inc. (JOB) generated $0.5M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
GEE Group, Inc. (JOB) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.