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LTC Properties cash flow, quarter by quarter

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

Free cash flow$36.6M in Q3 2026 · $133M over twelve months

Operating cash flow$41.3M
Capital spending−$4.7M
Free cash flow+$36.6M
Cash / net income0.1×

Analysis

In Q3 2026, LTC Properties generated $41.3M of operating cash flow and spent $4.7M on capital projects, leaving free cash flow of $36.6M. That is $2.3M more than in Q3 2025 ($34.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $144M; the largest uses were other investing ($160M), dividends ($117M), net borrowing (+) / repaid (−) ($76.6M); besides operations, cash came from shares issued ($278M), other financing ($114M); the cash balance rose by $165M.

Operating cash flow was $41.3M against net income of $349M — 0.1× profit, less cash than reported earnings, worth checking against working capital. The largest differences: depreciation & amortization +$13.7M, stock-based pay +$2.3M, other operating capital −$1.4M.

Free cash flow

LTC Properties: free cash flow by quarterLTC Properties: free cash flow by quarter$30.1MQ4 2024$28.2MQ1 2025$28.9MQ2 2025$34.3MQ3 2025$37.3MQ4 2025$28.1MQ1 2026$30.6MQ2 2026$36.6MQ3 2026
Operating cash flow less capital spending.
LTC Properties: operating cash flow against capital spendingLTC Properties: operating cash flow against capital spendingOperating cash flowCapital spending$33.9M$3.8MQ4 2024$29.6M$1.3MQ1 2025$30.0M$1.2MQ2 2025$38.4M$4.2MQ3 2025$37.9M$597KQ4 2025$30.8M$2.7MQ1 2026$34.4M$3.8MQ2 2026$41.3M$4.7MQ3 2026
Latest (Q3 2026): Operating cash flow $41.3M, Capital spending $4.7M.

Capital allocation, year by year

LTC Properties: where the cash came from (up) and went (down), by fiscal yearLTC Properties: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingDividendsFY2021: Operating cash flow $91.2MFY2021: Net borrowing $94.8MFY2021: Asset sales $43.6MFY2021: Capital spending −$6.3MFY2021: Dividends −$90.5M$230MFY2021FY2022: Operating cash flow $106MFY2022: Net borrowing $45.9MFY2022: Shares issued $67.6MFY2022: Asset sales $72.6MFY2022: Capital spending −$9.0MFY2022: Dividends −$91.5M$292MFY2022FY2023: Operating cash flow $104MFY2023: Net borrowing $123MFY2023: Shares issued $53.8MFY2023: Asset sales $66.3MFY2023: Capital spending −$9.7MFY2023: Dividends −$94.8M$348MFY2023FY2024: Operating cash flow $126MFY2024: Net borrowing −$523MFY2024: Shares issued $83.1MFY2024: Asset sales $38.9MFY2024: Capital spending −$13.7MFY2024: Dividends −$101M$248MFY2024FY2025: Operating cash flow $136MFY2025: Net borrowing $268MFY2025: Shares issued $101MFY2025: Asset sales $127MFY2025: Capital spending −$7.3MFY2025: Dividends −$107M$631MFY2025
Over these 5 years operating cash flow totalled $563M; the largest uses were net borrowing ($523M) and dividends ($485M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$183M
Debt$985M
Net debt$802M
Due within a year$51.5M

LTC Properties funds itself: free cash flow was $133M over the last twelve months, and $183M of cash and investments stands against $985M of debt ($51.5M due within a year, 3.6× covered by cash).

LTC Properties: debt maturities by year (FY2025)LTC Properties: debt maturities by year (FY2025)$51.5MYear 1$54.5MYear 2$105MYear 3$371MYear 4$122MYear 5$141MAfter year 5
Principal due in each year as disclosed in the annual report, against $183M of cash and investments now.

Where the cash came from and went

LTC Properties: sources (+) and uses (−) of cash, Q3 2026LTC Properties: sources (+) and uses (−) of cash, Q3 2026Net borrowing (+) / repaid (−)$208MCash drawn (+) / kept (−)−$143MOther investing−$109MOperating cash flow$41.3MShares issued$38.7MDividends−$30.9MCapital spending−$4.7MOther financing−$360K
LTC Properties: sources (+) and uses (−) of cash, TTM to Q3 2026LTC Properties: sources (+) and uses (−) of cash, TTM to Q3 2026Shares issued$278MCash drawn (+) / kept (−)−$165MOther investing−$160MOperating cash flow$144MDividends−$117MOther financing$114MNet borrowing (+) / repaid (−)−$76.6MCapital spending−$11.8MTaxes on employees’ shares−$5.9M

From profit to cash

LTC Properties: net income to operating cash flow, Q3 2026LTC Properties: net income to operating cash flow, Q3 2026Net income$349MDepreciation & amortization$13.7MStock-based pay$2.3MOther non-cash$3KOther operating capital−$1.4MOperating cash flow$41.3M
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$41.3M−$4.7M−$30.9M$208M$38.7M−$143M$36.6M
Q2 2026$34.4M−$3.8M−$29.8M−$173M$155M−$18.8M$30.6M
Q1 2026$30.8M−$2.7M−$29.2M$25.1M$43.4M−$7.3M$28.1M
Q4 2025$37.9M−$597K−$27.4M−$396M$41.2M$3.5M$37.3M
Q3 2025$38.4M−$4.2M−$26.5M$1.0B$45.5M−$10.3M$34.3M
Q2 2025$30.0M−$1.2M−$26.3M$14.2M$5.3M$15.7M$28.9M
Q1 2025$29.6M−$1.3M−$27.3M−$2.5M$8.5M−$13.9M$28.2M
Q4 2024$33.9M−$3.8M−$25.8M−$101M$17.5M$25.6M$30.1M

LTC Properties: income statement and cash flow

LTC Properties, Q3 2026: revenue $115M (+66% year over year), operating margin 54.2%. The chart follows the revenue to costs, profit and cash.

LTC Properties: 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.