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Allstate cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$3.7B in Q3 2026 · $12.7B over twelve months

Operating cash flow$3.8B
Capital spending−$62.0M
Free cash flow+$3.7B
Cash / net income1.8×

Analysis

In Q3 2026, Allstate generated $3.8B of operating cash flow and spent $62.0M on capital projects, leaving free cash flow of $3.7B. That is $485M more than in Q3 2025 ($3.2B).

Over the twelve months to Sep 30, 2026, operating cash flow was $13.0B; the largest uses were other investing ($8.1B), buybacks ($3.3B), dividends ($1.1B); the cash balance fell by $382M.

Operating cash flow was $3.8B against net income of $2.1B — 1.8× profit, cash ran ahead of reported earnings. The largest differences: income taxes payable +$435M, other operating capital +$302M, depreciation & amortization +$81.0M.

Free cash flow

Allstate: free cash flow by quarterAllstate: free cash flow by quarter$1.7BQ4 2024$1.9BQ1 2025$1.9BQ2 2025$3.2BQ3 2025$2.9BQ4 2025$3.5BQ1 2026$2.6BQ2 2026$3.7BQ3 2026
Operating cash flow less capital spending.
Allstate: operating cash flow against capital spendingAllstate: operating cash flow against capital spendingOperating cash flowCapital spending$1.7B$50.0MQ4 2024$2.0B$92.0MQ1 2025$1.9B−$1.0MQ2 2025$3.3B$48.0MQ3 2025$3.0B$89.0MQ4 2025$3.6B$40.0MQ1 2026$2.6B$43.0MQ2 2026$3.8B$62.0MQ3 2026
Latest (Q3 2026): Operating cash flow $3.8B, Capital spending $62.0M.

Capital allocation, year by year

Allstate: where the cash came from (up) and went (down), by fiscal yearAllstate: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $5.1BFY2021: Net borrowing −$436MFY2021: Shares issued $151MFY2021: Asset sales $2.1BFY2021: Capital spending −$345MFY2021: Buybacks −$3.1BFY2021: Dividends −$885M$7.3BFY2021FY2022: Operating cash flow $5.1BFY2022: Shares issued $130MFY2022: Asset sales $209MFY2022: Capital spending −$420MFY2022: Buybacks −$2.5BFY2022: Dividends −$926M$5.5BFY2022FY2023: Operating cash flow $4.2BFY2023: Net borrowing −$7.0MFY2023: Shares issued $690MFY2023: Asset sales $27.0MFY2023: Capital spending −$267MFY2023: Buybacks −$335MFY2023: Dividends −$925M$4.9BFY2023FY2024: Operating cash flow $8.9BFY2024: Net borrowing $145MFY2024: Shares issued $189MFY2024: Asset sales $18.0MFY2024: Capital spending −$210MFY2024: Buybacks −$2.0MFY2024: Dividends −$962M$9.3BFY2024FY2025: Operating cash flow $10.1BFY2025: Net borrowing −$600MFY2025: Shares issued $78.0MFY2025: Asset sales $3.0BFY2025: Capital spending −$228MFY2025: Buybacks −$1.2BFY2025: Dividends −$1.0B$13.2BFY2025
Over these 5 years operating cash flow totalled $33.5B; the largest uses were buybacks ($7.2B) and dividends ($4.7B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$5.3B
Debt$7.5B
Net debt$2.2B
Due within a year$550M

Allstate funds itself: free cash flow was $12.7B over the last twelve months, and $5.3B of cash and investments stands against $7.5B of debt ($550M due within a year, 9.6× covered by cash).

Allstate: debt maturities by year (FY2025)Allstate: debt maturities by year (FY2025)$550MYear 1$500MYear 4$600MYear 5$5.9BAfter year 5
Principal due in each year as disclosed in the annual report, against $5.3B of cash and investments now.

Where the cash came from and went

Allstate: sources (+) and uses (−) of cash, Q3 2026Allstate: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$3.8BOther investing−$2.5BBuybacks−$1.2BCash drawn (+) / kept (−)$291MDividends−$275MCapital spending−$62.0MOther financing−$6.0M
Allstate: sources (+) and uses (−) of cash, TTM to Q3 2026Allstate: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$13.0BOther investing−$8.1BBuybacks−$3.3BDividends−$1.1BOther financing−$642MCash drawn (+) / kept (−)$382MCapital spending−$234M

From profit to cash

Allstate: net income to operating cash flow, Q3 2026Allstate: net income to operating cash flow, Q3 2026Net income$2.1BDepreciation & amortization$81.0MIncome taxes payable$435MOther operating capital$302MOperating cash flow$3.8B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$3.8B−$62.0M−$1.2B−$275M——$291M$3.7B
Q2 2026$2.6B−$43.0M−$1.1B−$280M——−$143M$2.6B
Q1 2026$3.6B−$40.0M−$614M−$261M——−$19.0M$3.5B
Q4 2025$3.0B−$89.0M−$434M−$263M−$600M$10.0M$253M$2.9B
Q3 2025$3.3B−$48.0M−$360M−$264M—$12.0M$155M$3.2B
Q2 2025$1.9B$1.0M−$340M−$265M—$11.0M−$45.0M$1.9B
Q1 2025$2.0B−$92.0M−$99.0M−$244M—$15.0M−$337M$1.9B
Q4 2024$1.7B−$50.0M−$2.0M−$243M—$14.0M$226M$1.7B

Allstate: income statement and cash flow

Allstate, Q3 2026: revenue $17.3B (+0.5% year over year), operating margin 15.1%. The chart follows the revenue to costs, profit and cash.

Allstate: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.