Filing Flows

Filing Flows › Companies › Hines Global Income Trust › Cash flow

Hines Global Income Trust cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$22.7M in Q2 2026 · −$27.3M over twelve months

Operating cash flow$33.4M
Capital spending−$10.7M
Free cash flow+$22.7M

Analysis

In Q2 2026, Hines Global Income Trust generated $33.4M of operating cash flow and spent $10.7M on capital projects, leaving free cash flow of $22.7M. That is $32.9M more than in Q2 2025 (−$10.2M).

Over the twelve months to Jun 30, 2026, operating cash flow was $45.7M; the largest uses were real estate bought ($1.4B), buybacks ($245M), dividends ($84.5M); besides operations, cash came from other financing ($722M), shares issued ($482M); the cash balance fell by $136M.

Operating cash flow was $33.4M against net income of −$9.5M. The largest differences: depreciation & amortization +$51.0M, other liabilities +$2.9M, payables +$2.7M.

Free cash flow

Hines Global Income Trust: free cash flow by quarterHines Global Income Trust: free cash flow by quarter−$2.0MQ3 2024−$8.8MQ4 2024−$3.9MQ1 2025−$10.2MQ2 2025−$2.5MQ3 2025−$5.3MQ4 2025−$42.3MQ1 2026$22.7MQ2 2026
Operating cash flow less capital spending.
Hines Global Income Trust: operating cash flow against capital spendingHines Global Income Trust: operating cash flow against capital spendingOperating cash flowCapital spending$25.7M$27.7MQ3 2024$12.5M$21.3MQ4 2024$9.1M$13.0MQ1 2025$8.4M$18.5MQ2 2025$30.6M$33.1MQ3 2025$6.5M$11.8MQ4 2025−$24.9M$17.4MQ1 2026$33.4M$10.7MQ2 2026
Latest (Q2 2026): Operating cash flow $33.4M, Capital spending $10.7M.

Capital allocation, year by year

Hines Global Income Trust: where the cash came from (up) and went (down), by fiscal yearHines Global Income Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $46.1MFY2021: Net borrowing −$524MFY2021: Shares issued $534MFY2021: Capital spending −$17.1MFY2021: Buybacks −$44.4MFY2021: Dividends −$34.1M$580MFY2021FY2022: Operating cash flow $11.4MFY2022: Net borrowing $85.8MFY2022: Shares issued $1.1BFY2022: Asset sales $120MFY2022: Capital spending −$36.2MFY2022: Buybacks −$52.3MFY2022: Dividends −$56.7M$1.3BFY2022FY2023: Operating cash flow $31.2MFY2023: Net borrowing $54.6MFY2023: Shares issued $298MFY2023: Capital spending −$22.6MFY2023: Buybacks −$261MFY2023: Dividends −$71.4M$384MFY2023FY2024: Operating cash flow $54.0MFY2024: Net borrowing $272MFY2024: Shares issued $236MFY2024: Asset sales $29.5MFY2024: Capital spending −$71.8MFY2024: Buybacks −$240MFY2024: Dividends −$72.3M$591MFY2024FY2025: Operating cash flow $54.7MFY2025: Net borrowing $686MFY2025: Shares issued $435MFY2025: Asset sales $183MFY2025: Capital spending −$76.5MFY2025: Buybacks −$251MFY2025: Dividends −$78.4M$1.4BFY2025
Over these 5 years operating cash flow totalled $197M; the largest uses were buybacks ($849M) and net borrowing ($524M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$284M
Debt$2.0B
Net debt$1.8B
Due within a year$143M

Hines Global Income Trust's operations bring cash in ($45.7M over twelve months), and it spends more than that on capital projects: a gap of $27.3M funded from its $284M of cash and investments and from borrowing ($2.0B of debt, $143M due within a year). That is a choice to invest, not a cash runway running down.

Hines Global Income Trust: debt maturities by year (FY2025)Hines Global Income Trust: debt maturities by year (FY2025)$143MYear 1$445MYear 2$1.2BYear 3$236MYear 4$308MYear 5$85.6MAfter year 5
Principal due in each year as disclosed in the annual report, against $284M of cash and investments now.

Where the cash came from and went

Hines Global Income Trust: sources (+) and uses (−) of cash, Q2 2026Hines Global Income Trust: sources (+) and uses (−) of cash, Q2 2026Other financing$197MReal estate bought−$148MShares issued$113MCash drawn (+) / kept (−)−$102MBuybacks−$69.7MOperating cash flow$33.4MDividends−$23.2MCapital spending−$10.7MOther investing$7.0MAsset & business sales$5.3MNet borrowing (+) / repaid (−)−$1.0MExchange rates−$647K
Hines Global Income Trust: sources (+) and uses (−) of cash, TTM to Q2 2026Hines Global Income Trust: sources (+) and uses (−) of cash, TTM to Q2 2026Real estate bought−$1.4BOther financing$722MShares issued$482MNet borrowing (+) / repaid (−)$257MBuybacks−$245MCash drawn (+) / kept (−)$136MAsset & business sales$125MDividends−$84.5MCapital spending−$73.0MOperating cash flow$45.7MExchange rates$6.4MOther investing−$5.4M

From profit to cash

Hines Global Income Trust: net income to operating cash flow, Q2 2026Hines Global Income Trust: net income to operating cash flow, Q2 2026Net income−$9.5MDepreciation & amortization$51.0MPayables$2.7MPrepaid and other assets−$2.0MOther liabilities$2.9MOperating cash flow$33.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026$33.4M−$10.7M−$69.7M−$23.2M−$1.0M$113M−$102M$22.7M
Q1 2026−$24.9M−$17.4M−$46.0M−$20.8M−$305M$138M−$4.5M−$42.3M
Q4 2025$6.5M−$11.8M−$73.2M−$20.4M$223M$124M$236M−$5.3M
Q3 2025$30.6M−$33.1M−$55.8M−$20.1M$340M$107M$7.2M−$2.5M
Q2 2025$8.4M−$18.5M−$64.4M−$19.2M$304M$114M−$191M−$10.2M
Q1 2025$9.1M−$13.0M−$57.8M−$18.7M−$180M$90.3M−$93.0M−$3.9M
Q4 2024$12.5M−$21.3M−$41.5M−$18.3M$152M$78.8M−$3.9M−$8.8M
Q3 2024$25.7M−$27.7M−$59.4M−$18.0M$20.0M$47.2M−$25.2M−$2.0M

Hines Global Income Trust: income statement and cash flow

Hines Global Income Trust, Q2 2026: revenue $130M (+28% year over year), operating margin 5.1%. The chart follows the revenue to costs, profit and cash.

Hines Global Income Trust: 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.