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Hamilton Insurance Group cash flow, quarter by quarter

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

Free cash flow$267M in Q3 2026 · $787M over twelve months

Operating cash flow$267M
Free cash flow+$267M
Cash / net income1.2×

Analysis

In Q3 2026, Hamilton Insurance Group generated $267M of operating cash flow. That is $28.4M less than in Q3 2025 ($296M).

Over the twelve months to Sep 30, 2026, operating cash flow was $787M; the largest uses were partners ($332M), other financing ($200M), buybacks ($78.6M); besides operations, cash came from other investing ($78.7M), shares issued ($28K); the cash balance rose by $248M.

Operating cash flow was $267M against net income of $228M — 1.2× profit, cash ran ahead of reported earnings. The largest differences: gains on investments −$209M, payables +$61.1M, stock-based pay +$6.7M.

Free cash flow

Hamilton Insurance Group: free cash flow by quarterHamilton Insurance Group: free cash flow by quarter$284MQ4 2024$34.9MQ1 2025$218MQ2 2025$296MQ3 2025$293MQ4 2025$101MQ1 2026$125MQ2 2026$267MQ3 2026
Operating cash flow less capital spending.
Hamilton Insurance Group: operating cash flow against capital spendingHamilton Insurance Group: operating cash flow against capital spendingOperating cash flowCapital spending$284M$0Q4 2024$34.9M$0Q1 2025$218M$0Q2 2025$296M$0Q3 2025$293M$0Q4 2025$101M$0Q1 2026$125M$0Q2 2026$267M$0Q3 2026
Latest (Q3 2026): Operating cash flow $267M, Capital spending $0.

Capital allocation, year by year

Hamilton Insurance Group: where the cash came from (up) and went (down), by fiscal yearHamilton Insurance Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedBuybacksFY2022: Operating cash flow $191MFY2022: Shares issued $7KFY2022: Buybacks −$1.5M$191MFY2022FY2023: Operating cash flow $283MFY2023: Shares issued $73KFY2023: Buybacks −$2.4M$283MFY2023FY2024: Operating cash flow $759MFY2024: Shares issued $26KFY2024: Buybacks −$150M$759MFY2024FY2025: Operating cash flow $842MFY2025: Shares issued $25KFY2025: Buybacks −$113M$842MFY2025
Over these 4 years operating cash flow totalled $2.1B; the largest uses were buybacks ($267M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.2B
Debt$150M
Net cash$1.0B

Hamilton Insurance Group funds itself: free cash flow was $787M over the last twelve months, and $1.2B of cash and investments stands against $150M of debt.

Where the cash came from and went

Hamilton Insurance Group: sources (+) and uses (−) of cash, Q3 2026Hamilton Insurance Group: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$485MOther investing$308MOperating cash flow$267MPartners−$87.4MBuybacks−$3.1MExchange rates−$151K
Hamilton Insurance Group: sources (+) and uses (−) of cash, TTM to Q3 2026Hamilton Insurance Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$787MPartners−$332MCash drawn (+) / kept (−)−$248MOther financing−$200MOther investing$78.7MBuybacks−$78.6MExchange rates−$7.1MShares issued$28K

From profit to cash

Hamilton Insurance Group: net income to operating cash flow, Q3 2026Hamilton Insurance Group: net income to operating cash flow, Q3 2026Net income$228MDepreciation & amortization$4.1MStock-based pay$6.7MGains on investments−$209MOther non-cash−$1.5MPayables$61.1MPrepaid and other assets−$4.7MOperating cash flow$267M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$267M−$3.1M——−$485M$267M
Q2 2026$125M−$22.2M−$129K$1K$127M$125M
Q1 2026$101M−$33.1M−$199M$13K$217M$101M
Q4 2025$293M−$20.2M—$14K−$107M$293M
Q3 2025$296M−$40.5M——$6.1M$296M
Q2 2025$218M−$35.0M——−$158M$218M
Q1 2025$34.9M−$16.9M—$11K$188M$34.9M
Q4 2024$284M−$27.0M—$15K−$49.6M$284M

Hamilton Insurance Group: income statement and cash flow

Hamilton Insurance Group, Q3 2026: revenue $828M (+24% year over year), operating margin 27.4%. The chart follows the revenue to costs, profit and cash.

Hamilton Insurance Group: 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.