Filing Flows

Filing Flows › Companies › Altria Group › Cash flow

Altria Group cash flow, quarter by quarter

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

Free cash flow$3.0B in Q3 2026 · $9.1B over twelve months

Operating cash flow$3.1B
Capital spending−$109M
Free cash flow+$3.0B
Cash / net income1.2×
Cash conversion cycle26 days

Analysis

In Q3 2026, Altria Group generated $3.1B of operating cash flow and spent $109M on capital projects, leaving free cash flow of $3.0B. That is $41.0M less than in Q3 2025 ($3.0B).

Over the twelve months to Sep 30, 2026, operating cash flow was $9.4B; the largest uses were dividends ($7.1B), net borrowing (+) / repaid (−) ($1.6B), buybacks ($1.0B); the cash balance fell by $785M.

Operating cash flow was $3.1B against net income of $2.5B — 1.2× profit, cash ran ahead of reported earnings. The largest differences: income taxes payable +$137M, payables +$90.0M, depreciation & amortization +$60.0M.

Its cash conversion cycle was 26 days (receivables 5 + inventory 66 − payables 45).

Free cash flow

Altria Group: free cash flow by quarterAltria Group: free cash flow by quarter$3.3BQ4 2024$2.7BQ1 2025$173MQ2 2025$3.0BQ3 2025$3.2BQ4 2025$2.2BQ1 2026$662MQ2 2026$3.0BQ3 2026
Operating cash flow less capital spending.
Altria Group: operating cash flow against capital spendingAltria Group: operating cash flow against capital spendingOperating cash flowCapital spending$3.3B$47.0MQ4 2024$2.7B$38.0MQ1 2025$205M$32.0MQ2 2025$3.1B$54.0MQ3 2025$3.3B$92.0MQ4 2025$2.3B$93.0MQ1 2026$719M$57.0MQ2 2026$3.1B$109MQ3 2026
Latest (Q3 2026): Operating cash flow $3.1B, Capital spending $109M.

Capital allocation, year by year

Altria Group: where the cash came from (up) and went (down), by fiscal yearAltria Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $8.4BFY2021: Net borrowing −$1.1BFY2021: Asset sales $1.2BFY2021: Capital spending −$169MFY2021: Buybacks −$1.7BFY2021: Dividends −$6.4B$9.6BFY2021FY2022: Operating cash flow $8.3BFY2022: Net borrowing −$1.1BFY2022: Capital spending −$205MFY2022: Buybacks −$1.8BFY2022: Dividends −$6.6B$8.3BFY2022FY2023: Operating cash flow $9.3BFY2023: Net borrowing −$568MFY2023: Capital spending −$196MFY2023: Acquisitions −$2.8BFY2023: Buybacks −$1.0BFY2023: Dividends −$6.8B$9.3BFY2023FY2024: Operating cash flow $8.8BFY2024: Net borrowing −$1.1BFY2024: Capital spending −$142MFY2024: Buybacks −$3.4BFY2024: Dividends −$6.8B$8.8BFY2024FY2025: Operating cash flow $9.3BFY2025: Net borrowing $385MFY2025: Capital spending −$216MFY2025: Buybacks −$1.0BFY2025: Dividends −$7.0B$9.7BFY2025
Over these 5 years operating cash flow totalled $44.0B; the largest uses were dividends ($33.6B) and buybacks ($8.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$2.7B
Debt$24.1B
Net debt$21.4B
Due within a year$1.6B

Altria Group funds itself: free cash flow was $9.1B over the last twelve months, and $2.7B of cash and investments stands against $24.1B of debt ($1.6B due within a year, 1.7× covered by cash).

Altria Group: debt maturities by year (FY2025)Altria Group: debt maturities by year (FY2025)$1.6BYear 1$1.2BYear 2$1.0BYear 3$1.9BYear 4$1.2BYear 5
Principal due in each year as disclosed in the annual report, against $2.7B of cash and investments now.

Where the cash came from and went

Altria Group: sources (+) and uses (−) of cash, Q3 2026Altria Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$3.1BDividends−$1.8BNet borrowing (+) / repaid (−)−$500MBuybacks−$400MCash drawn (+) / kept (−)−$330MCapital spending−$109MOther financing$5.0M
Altria Group: sources (+) and uses (−) of cash, TTM to Q3 2026Altria Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$9.4BDividends−$7.1BNet borrowing (+) / repaid (−)−$1.6BBuybacks−$1.0BCash drawn (+) / kept (−)$785MCapital spending−$351MOther investing−$126MOther financing−$23.0M

From profit to cash

Altria Group: net income to operating cash flow, Q3 2026Altria Group: net income to operating cash flow, Q3 2026Net income$2.5BDepreciation & amortization$60.0MDeferred taxes$60.0MReceivables−$36.0MInventory−$24.0MPayables$90.0MIncome taxes payable$137MOperating cash flow$3.1B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20265664526
Q2 20264654129
Q1 20265805232
Q4 20254684527
Q3 20254673931
Q2 20254663534
Q1 20254764435
Q4 20242673732

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$3.1B−$109M−$400M−$1.8B−$500M−$330M$3.0B
Q2 2026$719M−$57.0M−$55.0M−$1.8B—$1.2B$662M
Q1 2026$2.3B−$93.0M−$280M−$1.8B−$1.1B$942M$2.2B
Q4 2025$3.3B−$92.0M−$288M−$1.8B—−$996M$3.2B
Q3 2025$3.1B−$54.0M−$112M−$1.7B$995M−$2.2B$3.0B
Q2 2025$205M−$32.0M−$274M−$1.7B−$1.6B$3.4B$173M
Q1 2025$2.7B−$38.0M−$326M−$1.7B$997M−$1.6B$2.7B
Q4 2024$3.3B−$47.0M−$310M−$1.7B—−$1.2B$3.3B

Altria Group: income statement and cash flow

Altria Group, Q3 2026: revenue $6.1B (+1% year over year), operating margin 54.0%. The chart follows the revenue to costs, profit and cash.

Altria 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.