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Athene Holding cash flow, quarter by quarter

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

Free cash flow$827M in Q3 2026 · $6.5B over twelve months

Operating cash flow$827M
Free cash flow+$827M

Analysis

In Q3 2026, Athene Holding generated $827M of operating cash flow. That is $191M more than in Q3 2025 ($636M).

Over the twelve months to Sep 30, 2026, operating cash flow was $6.5B; the largest uses were other investing ($52.6B), dividends ($752M); besides operations, cash came from other financing ($46.5B), net borrowing (+) / repaid (−) ($992M); the cash balance rose by $625M.

Operating cash flow was $827M against net income of −$1.3B. The largest differences: other operating capital −$666M.

Free cash flow

Athene Holding: free cash flow by quarterAthene Holding: free cash flow by quarter$386MQ4 2024$426MQ1 2025$1.1BQ2 2025$636MQ3 2025$3.0BQ4 2025$835MQ1 2026$1.8BQ2 2026$827MQ3 2026
Operating cash flow less capital spending.
Athene Holding: operating cash flow against capital spendingAthene Holding: operating cash flow against capital spendingOperating cash flowCapital spending$386M$0Q4 2024$426M$0Q1 2025$1.1B$0Q2 2025$636M$0Q3 2025$3.0B$0Q4 2025$835M$0Q1 2026$1.8B$0Q2 2026$827M$0Q3 2026
Latest (Q3 2026): Operating cash flow $827M, Capital spending $0.

Capital allocation, year by year

Athene Holding: where the cash came from (up) and went (down), by fiscal yearAthene Holding: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2021: Operating cash flow $10.3BFY2021: Net borrowing $997MFY2021: Shares issued $11.0MFY2021: Buybacks −$8.0M$11.3BFY2021FY2022: Operating cash flow $6.3BFY2022: Net borrowing $399MFY2022: Shares issued $487MFY2022: Dividends −$1.3B$7.1BFY2022FY2023: Operating cash flow $5.0BFY2023: Net borrowing $589MFY2023: Dividends −$937M$5.6BFY2023FY2024: Operating cash flow $1.9BFY2024: Net borrowing $2.2BFY2024: Dividends −$452M$4.0BFY2024FY2025: Operating cash flow $5.2BFY2025: Net borrowing $1.6BFY2025: Dividends −$752M$6.8BFY2025
Over these 5 years operating cash flow totalled $28.6B; the largest uses were dividends ($3.5B) and buybacks ($8.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$18.6B
Debt$8.8B
Net cash$9.8B

Athene Holding funds itself: free cash flow was $6.5B over the last twelve months, and $18.6B of cash and investments stands against $8.8B of debt.

Where the cash came from and went

Athene Holding: sources (+) and uses (−) of cash, Q3 2026Athene Holding: sources (+) and uses (−) of cash, Q3 2026Other investing−$15.5BOther financing$8.8BCash drawn (+) / kept (−)$5.1BNet borrowing (+) / repaid (−)$992MOperating cash flow$827MDividends−$188M
Athene Holding: sources (+) and uses (−) of cash, TTM to Q3 2026Athene Holding: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$52.6BOther financing$46.5BOperating cash flow$6.5BNet borrowing (+) / repaid (−)$992MDividends−$752MCash drawn (+) / kept (−)−$625MExchange rates−$10.0M

From profit to cash

Athene Holding: net income to operating cash flow, Q3 2026Athene Holding: net income to operating cash flow, Q3 2026Net income−$1.3BOther operating capital−$666MOperating cash flow$827M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$827M−$188M$992M$5.1B$827M
Q2 2026$1.8B−$187M—−$4.4B$1.8B
Q1 2026$835M−$188M—−$2.4B$835M
Q4 2025$3.0B−$189M—$1.1B$3.0B
Q3 2025$636M−$188M—−$5.7B$636M
Q2 2025$1.1B−$187M$1.6B$1.2B$1.1B
Q1 2025$426M−$188M—$851M$426M
Q4 2024$386M−$78.0M$600M$597M$386M

Athene Holding: income statement and cash flow

Athene Holding, Q3 2026: revenue $3.1B (-62% year over year), operating margin -56.7%. The chart follows the revenue to costs, profit and cash.

Athene Holding: 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.