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Corebridge Financial cash flow, quarter by quarter

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

Free cash flow$605M in Q3 2026 · $2.4B over twelve months

Operating cash flow$605M
Free cash flow+$605M
Cash / net income0.4×

Analysis

In Q3 2026, Corebridge Financial generated $605M of operating cash flow. That is $581M more than in Q3 2025 ($24.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $2.4B; the largest uses were other investing ($7.2B), buybacks ($2.8B), dividends ($455M); besides operations, cash came from other financing ($8.2B), asset & business sales ($9.0M); the cash balance rose by $135M.

Operating cash flow was $605M against net income of $1.4B — 0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: gains on investments −$1.6B, depreciation & amortization +$194M, other operating capital +$114M.

Free cash flow

Corebridge Financial: free cash flow by quarterCorebridge Financial: free cash flow by quarter$1.5BQ4 2024$375MQ1 2025−$259MQ2 2025$24.0MQ3 2025$1.9BQ4 2025−$9.0MQ1 2026−$44.0MQ2 2026$605MQ3 2026
Operating cash flow less capital spending.
Corebridge Financial: operating cash flow against capital spendingCorebridge Financial: operating cash flow against capital spendingOperating cash flowCapital spending$1.5B$0Q4 2024$375M$0Q1 2025−$259M$0Q2 2025$24.0M$0Q3 2025$1.9B$0Q4 2025−$9.0M$0Q1 2026−$44.0M$0Q2 2026$605M$0Q3 2026
Latest (Q3 2026): Operating cash flow $605M, Capital spending $0.

Capital allocation, year by year

Corebridge Financial: where the cash came from (up) and went (down), by fiscal yearCorebridge Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesAcquisitionsBuybacksDividendsFY2021: Operating cash flow $2.4BFY2021: Net borrowing −$471MFY2021: Asset sales $1.1B$3.5BFY2021FY2022: Operating cash flow $2.6BFY2022: Net borrowing −$577MFY2022: Acquisitions −$107MFY2022: Dividends −$876M$2.6BFY2022FY2023: Operating cash flow $3.4BFY2023: Net borrowing −$1.8BFY2023: Asset sales $747MFY2023: Acquisitions −$5.0MFY2023: Buybacks −$498MFY2023: Dividends −$1.7B$4.1BFY2023FY2024: Operating cash flow $2.2BFY2024: Net borrowing −$1.2BFY2024: Shares issued $1.0MFY2024: Asset sales $577MFY2024: Buybacks −$1.8BFY2024: Dividends −$544M$2.7BFY2024FY2025: Operating cash flow $2.0BFY2025: Net borrowing −$1.1BFY2025: Shares issued $493MFY2025: Buybacks −$2.1BFY2025: Dividends −$511M$2.5BFY2025
Over these 5 years operating cash flow totalled $12.6B; the largest uses were net borrowing ($5.2B) and buybacks ($4.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$453M
Debt$1.2B
Net debt$797M

Corebridge Financial funds itself: free cash flow was $2.4B over the last twelve months, and $453M of cash and investments stands against $1.2B of debt.

Where the cash came from and went

Corebridge Financial: sources (+) and uses (−) of cash, Q3 2026Corebridge Financial: sources (+) and uses (−) of cash, Q3 2026Other investing−$2.7BOther financing$2.6BOperating cash flow$605MBuybacks−$185MDividends−$110MCash drawn (+) / kept (−)−$99.0MPartners−$31.0M
Corebridge Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Corebridge Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$8.2BOther investing−$7.2BBuybacks−$2.8BOperating cash flow$2.4BDividends−$455MCash drawn (+) / kept (−)−$135MPartners−$63.0MAsset & business sales$9.0M

From profit to cash

Corebridge Financial: net income to operating cash flow, Q3 2026Corebridge Financial: net income to operating cash flow, Q3 2026Net income$1.4BDepreciation & amortization$194MImpairments$4.0MGains on investments−$1.6BOther operating capital$114MOperating cash flow$605M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$605M−$185M−$110M—−$99.0M$605M
Q2 2026−$44.0M−$300M−$112M—$20.0M−$44.0M
Q1 2026−$9.0M−$1.2B−$114M—$75.0M−$9.0M
Q4 2025$1.9B−$1.1B−$119M—−$131M$1.9B
Q3 2025$24.0M−$380M−$128M−$101M−$26.0M$24.0M
Q2 2025−$259M−$311M−$131M$14.0M$103M−$259M
Q1 2025$375M−$321M−$133M−$67.0M$425M$375M
Q4 2024$1.5B−$398M−$129M−$330M−$277M$1.5B

Corebridge Financial: income statement and cash flow

Corebridge Financial, Q3 2026: revenue $6.2B (+14% year over year), operating margin 37.7%. The chart follows the revenue to costs, profit and cash.

Corebridge 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.