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Brighthouse Financial cash flow, quarter by quarter

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

Free cash flow−$476M in Q3 2026 · −$1.1B over twelve months

Operating cash flow−$476M
Free cash flow−$476M
Cash / net income-1.4×

Analysis

In Q3 2026, Brighthouse Financial generated −$476M of operating cash flow. That is $593M less than in Q3 2025 ($117M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$1.1B; the largest uses were other investing ($1.2B), operating cash flow ($1.1B), net borrowing (+) / repaid (−) ($4.0M); besides operations, cash came from other financing ($4.3B); the cash balance rose by $1.9B.

Operating cash flow was −$476M against net income of $330M — -1.4× profit, less cash than reported earnings, worth checking against working capital.

Free cash flow

Brighthouse Financial: free cash flow by quarterBrighthouse Financial: free cash flow by quarter−$118MQ4 2024$146MQ1 2025−$1.0MQ2 2025$117MQ3 2025−$3.0MQ4 2025−$221MQ1 2026−$431MQ2 2026−$476MQ3 2026
Operating cash flow less capital spending.
Brighthouse Financial: operating cash flow against capital spendingBrighthouse Financial: operating cash flow against capital spendingOperating cash flowCapital spending−$118M$0Q4 2024$146M$0Q1 2025−$1.0M$0Q2 2025$117M$0Q3 2025−$3.0M$0Q4 2025−$221M$0Q1 2026−$431M$0Q2 2026−$476M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$476M, Capital spending $0.

Capital allocation, year by year

Brighthouse Financial: where the cash came from (up) and went (down), by fiscal yearBrighthouse Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksFY2021: Operating cash flow $641MFY2021: Net borrowing −$280MFY2021: Shares issued $339MFY2021: Buybacks −$499M$980MFY2021FY2022: Operating cash flow −$1.2BFY2022: Net borrowing −$3.0MFY2022: Buybacks −$488MFY2022FY2023: Operating cash flow −$137MFY2023: Net borrowing −$2.0MFY2023: Buybacks −$250MFY2023FY2024: Operating cash flow −$290MFY2024: Net borrowing −$2.0MFY2024: Buybacks −$250MFY2024FY2025: Operating cash flow $259MFY2025: Net borrowing −$2.0MFY2025: Buybacks −$102M$259MFY2025
Over these 5 years operating cash flow totalled −$755M; the largest uses were operating cash flow ($1.7B) and buybacks ($1.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$9.8B
Debt$3.2B
Net cash$6.6B
Due within a year$3.0M
Cash runway8.6 years

Brighthouse Financial is burning cash: its operations consume cash, a free cash flow of −$1.1B a year at the current rate against $9.8B of cash and investments: a runway of about 8.6 years; $3.0M of debt also comes due within a year, which the cash covers before any new financing.

Brighthouse Financial: debt maturities by year (FY2025)Brighthouse Financial: debt maturities by year (FY2025)$3.0MYear 1$761MYear 2$3.0MYear 3$4.0MYear 4$619MYear 5$1.8BAfter year 5
Principal due in each year as disclosed in the annual report, against $9.8B of cash and investments now.

Where the cash came from and went

Brighthouse Financial: sources (+) and uses (−) of cash, Q3 2026Brighthouse Financial: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$1.4BOther financing$1.2BOther investing$650MOperating cash flow−$476MNet borrowing (+) / repaid (−)−$2.0M
Brighthouse Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Brighthouse Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$4.3BCash drawn (+) / kept (−)−$1.9BOther investing−$1.2BOperating cash flow−$1.1BNet borrowing (+) / repaid (−)−$4.0M

Every quarter

QuarterOperating cash flowBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$476M—−$2.0M−$1.4B−$476M
Q2 2026−$431M——−$2.2B−$431M
Q1 2026−$221M—−$1.0M$480M−$221M
Q4 2025−$3.0M—−$1.0M$1.2B−$3.0M
Q3 2025$117M——−$1.1B$117M
Q2 2025−$1.0M−$43.0M−$1.0M−$873M−$1.0M
Q1 2025$146M−$59.0M—$378M$146M
Q4 2024−$118M−$60.0M−$1.0M$585M−$118M

Brighthouse Financial: income statement and cash flow

Brighthouse Financial, Q3 2026: revenue $853M (-53% year over year), operating margin 47.4%. The chart follows the revenue to costs, profit and cash.

Brighthouse Financial: 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.