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Hilltop Holdings cash flow, quarter by quarter

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

Free cash flow$504M in Q3 2026 · $110M over twelve months

Operating cash flow$508M
Capital spending−$4.2M
Free cash flow+$504M
Cash / net income19.3×

Analysis

In Q3 2026, Hilltop Holdings generated $508M of operating cash flow and spent $4.2M on capital projects, leaving free cash flow of $504M. That is $233M more than in Q3 2025 ($271M).

Over the twelve months to Sep 30, 2026, operating cash flow was $140M; the largest uses were other investing ($481M), buybacks ($175M), dividends ($47.1M); besides operations, cash came from other financing ($378M), net borrowing (+) / repaid (−) ($144M); the cash balance fell by $59.3M.

Operating cash flow was $508M against net income of $26.3M — 19.3× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets −$57.9M, other liabilities +$52.2M, other non-cash +$3.9M.

Free cash flow

Hilltop Holdings: free cash flow by quarterHilltop Holdings: free cash flow by quarter$122MQ4 2024$5.0MQ1 2025−$235MQ2 2025$271MQ3 2025−$97.0MQ4 2025−$134MQ1 2026−$163MQ2 2026$504MQ3 2026
Operating cash flow less capital spending.
Hilltop Holdings: operating cash flow against capital spendingHilltop Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$123M$916KQ4 2024$5.8M$797KQ1 2025−$235M−$40KQ2 2025$273M$2.0MQ3 2025−$82.9M$14.1MQ4 2025−$127M$6.6MQ1 2026−$157M$5.4MQ2 2026$508M$4.2MQ3 2026
Latest (Q3 2026): Operating cash flow $508M, Capital spending $4.2M.

Capital allocation, year by year

Hilltop Holdings: where the cash came from (up) and went (down), by fiscal yearHilltop Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $766MFY2021: Net borrowing $102MFY2021: Asset sales $24.4MFY2021: Capital spending −$24.8MFY2021: Buybacks −$124MFY2021: Dividends −$39.0M$891MFY2021FY2022: Operating cash flow $1.2BFY2022: Net borrowing $65.9MFY2022: Asset sales $4.5MFY2022: Capital spending −$9.8MFY2022: Buybacks −$442MFY2022: Dividends −$43.0M$1.3BFY2022FY2023: Operating cash flow $443MFY2023: Net borrowing −$71.8MFY2023: Asset sales $4.3MFY2023: Capital spending −$8.5MFY2023: Buybacks −$5.1MFY2023: Dividends −$41.6M$447MFY2023FY2024: Operating cash flow $274MFY2024: Net borrowing −$66.1MFY2024: Asset sales $7.6MFY2024: Capital spending −$7.1MFY2024: Buybacks −$19.9MFY2024: Dividends −$44.3M$282MFY2024FY2025: Operating cash flow −$38.7MFY2025: Net borrowing −$358MFY2025: Asset sales $74.9MFY2025: Capital spending −$16.8MFY2025: Buybacks −$184MFY2025: Dividends −$45.4M$74.9MFY2025
Over these 5 years operating cash flow totalled $2.6B; the largest uses were buybacks ($775M) and net borrowing ($496M). Cash-flow statements as filed.

Where the cash came from and went

Hilltop Holdings: sources (+) and uses (−) of cash, Q3 2026Hilltop Holdings: sources (+) and uses (−) of cash, Q3 2026Other financing$511MOperating cash flow$508MCash drawn (+) / kept (−)−$455MNet borrowing (+) / repaid (−)−$418MOther investing−$110MBuybacks−$20.0MDividends−$12.6MCapital spending−$4.2MAsset & business sales$2.7MPartners−$1.3M
Hilltop Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Hilltop Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$481MOther financing$378MBuybacks−$175MNet borrowing (+) / repaid (−)$144MOperating cash flow$140MCash drawn (+) / kept (−)$59.3MDividends−$47.1MCapital spending−$30.3MAsset & business sales$15.2MPartners−$2.9M

From profit to cash

Hilltop Holdings: net income to operating cash flow, Q3 2026Hilltop Holdings: net income to operating cash flow, Q3 2026Net income$26.3MDepreciation & amortization$1.6MDeferred taxes$341KOther non-cash$3.9MPrepaid and other assets−$57.9MOther liabilities$52.2MOperating cash flow$508M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$508M−$4.2M−$20.0M−$12.6M−$418M−$455M$504M
Q2 2026−$157M−$5.4M−$47.0M−$11.6M$252M$124M−$163M
Q1 2026−$127M−$6.6M−$47.5M−$11.8M$314M$360M−$134M
Q4 2025−$82.9M−$14.1M−$60.8M−$11.0M−$4.5M$30.2M−$97.0M
Q3 2025$273M−$2.0M−$55.0M−$11.2M−$53.7M−$253M$271M
Q2 2025−$235M$40K−$34.9M−$11.5M−$20.6M$761M−$235M
Q1 2025$5.8M−$797K−$33.3M−$11.6M−$279M$579M$5.0M
Q4 2024$123M−$916K—−$11.0M−$108M−$350M$122M

Hilltop Holdings: income statement and cash flow

Hilltop Holdings, Q3 2026: revenue $310M (-6% year over year), operating margin 11.4%. The chart follows the revenue to costs, profit and cash.

Hilltop Holdings: 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.