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First Western Financial cash flow, quarter by quarter

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

Free cash flow$7.9M in Q3 2026 · $20.0M over twelve months

Operating cash flow$8.4M
Capital spending−$462K
Free cash flow+$7.9M
Cash / net income1.4×

Analysis

In Q3 2026, First Western Financial generated $8.4M of operating cash flow and spent $462K on capital projects, leaving free cash flow of $7.9M. That is $2.8M less than in Q3 2025 ($10.7M).

Over the twelve months to Sep 30, 2026, operating cash flow was $23.3M; the largest uses were other investing ($366M), capital spending ($3.3M), buybacks ($146K); besides operations, cash came from other financing ($157M); the cash balance fell by $189M.

Operating cash flow was $8.4M against net income of $6.0M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$725K, depreciation & amortization +$656K, receivables −$51K.

Free cash flow

First Western Financial: free cash flow by quarterFirst Western Financial: free cash flow by quarter−$4.8MQ4 2024$7.0MQ1 2025−$9.7MQ2 2025$10.7MQ3 2025−$13.8MQ4 2025$14.6MQ1 2026$11.2MQ2 2026$7.9MQ3 2026
Operating cash flow less capital spending.
First Western Financial: operating cash flow against capital spendingFirst Western Financial: operating cash flow against capital spendingOperating cash flowCapital spending−$4.4M$378KQ4 2024$8.0M$1.0MQ1 2025−$9.1M$575KQ2 2025$11.7M$1.1MQ3 2025−$12.5M$1.3MQ4 2025$15.3M$619KQ1 2026$12.2M$931KQ2 2026$8.4M$462KQ3 2026
Latest (Q3 2026): Operating cash flow $8.4M, Capital spending $462K.

Capital allocation, year by year

First Western Financial: where the cash came from (up) and went (down), by fiscal yearFirst Western Financial: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $163MFY2021: Net borrowing $14.7MFY2021: Shares issued $1.7MFY2021: Capital spending −$2.1MFY2021: Acquisitions $121M$300MFY2021FY2022: Operating cash flow $48.3MFY2022: Net borrowing $19.5MFY2022: Shares issued $179KFY2022: Asset sales $125KFY2022: Capital spending −$3.0M$68.1MFY2022FY2023: Operating cash flow $21.9MFY2023: Shares issued $245KFY2023: Capital spending −$2.3M$22.1MFY2023FY2024: Operating cash flow $606KFY2024: Net borrowing −$41.0MFY2024: Capital spending −$1.2MFY2024: Buybacks −$89K$606KFY2024FY2025: Operating cash flow −$1.8MFY2025: Capital spending −$4.0MFY2025: Buybacks −$784KFY2025
Over these 5 years operating cash flow totalled $231M; the largest uses were net borrowing ($41.0M) and capital spending ($12.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$166M
Debtnone
Net cash$166M

First Western Financial funds itself: free cash flow was $20.0M over the last twelve months, with $166M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

First Western Financial: sources (+) and uses (−) of cash, Q3 2026First Western Financial: sources (+) and uses (−) of cash, Q3 2026Other investing−$191MOther financing$175MCash drawn (+) / kept (−)$8.6MOperating cash flow$8.4MCapital spending−$462K
First Western Financial: sources (+) and uses (−) of cash, TTM to Q3 2026First Western Financial: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$366MCash drawn (+) / kept (−)$189MOther financing$157MOperating cash flow$23.3MCapital spending−$3.3MBuybacks−$146K

From profit to cash

First Western Financial: net income to operating cash flow, Q3 2026First Western Financial: net income to operating cash flow, Q3 2026Net income$6.0MDepreciation & amortization$656KStock-based pay$725KDeferred taxes−$10KReceivables−$51KOperating cash flow$8.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026$8.4M−$462K—$8.6M$7.9M
Q2 2026$12.2M−$931K—$89.2M$11.2M
Q1 2026$15.3M−$619K−$146K−$63.8M$14.6M
Q4 2025−$12.5M−$1.3M—$155M−$13.8M
Q3 2025$11.7M−$1.1M−$301K−$121M$10.7M
Q2 2025−$9.1M−$575K−$481K$39.3M−$9.7M
Q1 2025$8.0M−$1.0M−$2K−$35.5M$7.0M
Q4 2024−$4.4M−$378K—$40.2M−$4.8M

First Western Financial: income statement and cash flow

First Western Financial, Q3 2026: revenue $28.1M (+17% year over year), operating margin 25.9%. The chart follows the revenue to costs, profit and cash.

First Western Financial: 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.