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Ellington Financial cash flow, quarter by quarter

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

Free cash flow$15.8M in Q3 2026 · −$311M over twelve months

Operating cash flow$16.7M
Capital spending−$848K
Free cash flow+$15.8M
Cash / net income0.4×

Analysis

In Q3 2026, Ellington Financial generated $16.7M of operating cash flow and spent $848K on capital projects, leaving free cash flow of $15.8M. That is $306M more than in Q3 2025 (−$290M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$311M; the largest uses were other investing ($7.9B), operating cash flow ($311M), dividends ($214M); besides operations, cash came from other financing ($7.7B), net borrowing (+) / repaid (−) ($540M); the cash balance rose by $97.1M.

Operating cash flow was $16.7M against net income of $45.9M — 0.4× profit, less cash than reported earnings, worth checking against working capital. The largest differences: stock-based pay +$1.5M, depreciation & amortization +$114K.

Free cash flow

Ellington Financial: free cash flow by quarterEllington Financial: free cash flow by quarter−$141MQ4 2024−$126MQ1 2025−$211MQ2 2025−$290MQ3 2025−$298MQ4 2025−$9.8MQ1 2026−$19.1MQ2 2026$15.8MQ3 2026
Operating cash flow less capital spending.
Ellington Financial: operating cash flow against capital spendingEllington Financial: operating cash flow against capital spendingOperating cash flowCapital spending−$141M$0Q4 2024−$126M$0Q1 2025−$211M$0Q2 2025−$290M$0Q3 2025−$298M$0Q4 2025−$10.0M−$168KQ1 2026−$19.1M$0Q2 2026$16.7M$848KQ3 2026
Latest (Q3 2026): Operating cash flow $16.7M, Capital spending $848K.

Capital allocation, year by year

Ellington Financial: where the cash came from (up) and went (down), by fiscal yearEllington Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $51.3MFY2021: Shares issued $362MFY2021: Capital spending −$2.2MFY2021: Dividends −$85.7M$413MFY2021FY2022: Operating cash flow $42.7MFY2022: Net borrowing $292MFY2022: Shares issued $99.9MFY2022: Capital spending −$222KFY2022: Acquisitions $38.9MFY2022: Buybacks −$1.7MFY2022: Dividends −$123M$474MFY2022FY2023: Operating cash flow −$242MFY2023: Shares issued $219MFY2023: Capital spending $37KFY2023: Buybacks −$12.4MFY2023: Dividends −$149M$219MFY2023FY2024: Operating cash flow −$431MFY2024: Shares issued $100MFY2024: Buybacks −$685KFY2024: Dividends −$164M$100MFY2024FY2025: Operating cash flow −$925MFY2025: Net borrowing $394MFY2025: Shares issued $302MFY2025: Dividends −$184M$696MFY2025
Over these 5 years operating cash flow totalled −$1.5B; the largest uses were operating cash flow ($1.6B) and dividends ($705M). Cash-flow statements as filed.

Where the cash came from and went

Ellington Financial: sources (+) and uses (−) of cash, Q3 2026Ellington Financial: sources (+) and uses (−) of cash, Q3 2026Other financing$1.9BOther investing−$1.8BDividends−$55.1MShares issued$33.8MOperating cash flow$16.7MCash drawn (+) / kept (−)−$12.8MPartners$5.8MCapital spending−$848K
Ellington Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Ellington Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$7.9BOther financing$7.7BNet borrowing (+) / repaid (−)$540MShares issued$323MOperating cash flow−$311MDividends−$214MCash drawn (+) / kept (−)−$97.1MPartners$1.9MCapital spending−$680K

From profit to cash

Ellington Financial: net income to operating cash flow, Q3 2026Ellington Financial: net income to operating cash flow, Q3 2026Net income$45.9MDepreciation & amortization$114KStock-based pay$1.5MOperating cash flow$16.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$16.7M−$848K−$55.1M—$33.8M−$12.8M$15.8M
Q2 2026−$19.1M—−$53.7M$66.7M$37.5M−$98.3M−$19.1M
Q1 2026−$10.0M$168K−$55.3M$58.5M$155M$147M−$9.8M
Q4 2025−$298M—−$49.5M$394M$96.5M−$133M−$298M
Q3 2025−$290M—−$46.6M$16.0M$110M$25.1M−$290M
Q2 2025−$211M—−$44.7M$46.4M$44.6M−$13.3M−$211M
Q1 2025−$126M—−$42.9M—$51.0M−$8.4M−$126M
Q4 2024−$141M—−$42.4M$46.2M—$19.4M−$141M

Ellington Financial: income statement and cash flow

Ellington Financial, Q3 2026: revenue $118M (+42% year over year), operating margin 40.7%. The chart follows the revenue to costs, profit and cash.

Ellington 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.