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Omega Healthcare Investors cash flow, quarter by quarter

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

Free cash flow$166M in Q3 2026 · $777M over twelve months

Operating cash flow$191M
Capital spending−$24.6M
Free cash flow+$166M
Cash / net income2.2×

Analysis

In Q3 2026, Omega Healthcare Investors generated $191M of operating cash flow and spent $24.6M on capital projects, leaving free cash flow of $166M. That is $39.0M less than in Q3 2025 ($205M).

Over the twelve months to Sep 30, 2026, operating cash flow was $855M; the largest uses were other financing ($1.1B), dividends ($804M), real estate bought ($425M); besides operations, cash came from asset & business sales ($578M), shares issued ($400M); the cash balance fell by $551M.

Operating cash flow was $191M against net income of $86.8M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$82.0M, stock-based pay +$23.7M, other operating capital −$10.1M.

Free cash flow

Omega Healthcare Investors: free cash flow by quarterOmega Healthcare Investors: free cash flow by quarter$213MQ4 2024$162MQ1 2025$225MQ2 2025$205MQ3 2025$204MQ4 2025$207MQ1 2026$200MQ2 2026$166MQ3 2026
Operating cash flow less capital spending.
Omega Healthcare Investors: operating cash flow against capital spendingOmega Healthcare Investors: operating cash flow against capital spendingOperating cash flowCapital spending$229M$15.5MQ4 2024$182M$20.2MQ1 2025$239M$14.7MQ2 2025$227M$21.2MQ3 2025$231M$26.7MQ4 2025$216M$8.8MQ1 2026$218M$17.9MQ2 2026$191M$24.6MQ3 2026
Latest (Q3 2026): Operating cash flow $191M, Capital spending $24.6M.

Capital allocation, year by year

Omega Healthcare Investors: where the cash came from (up) and went (down), by fiscal yearOmega Healthcare Investors: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $722MFY2021: Asset sales $319MFY2021: Capital spending −$95.1MFY2021: Acquisitions −$604MFY2021: Dividends −$638M$1.0BFY2021FY2022: Operating cash flow $626MFY2022: Shares issued $8.1MFY2022: Asset sales $759MFY2022: Capital spending −$47.2MFY2022: Buybacks −$142MFY2022: Dividends −$633M$1.4BFY2022FY2023: Operating cash flow $618MFY2023: Shares issued $336MFY2023: Asset sales $585MFY2023: Capital spending −$44.5MFY2023: Dividends −$644M$1.5BFY2023FY2024: Operating cash flow $749MFY2024: Shares issued $1.2BFY2024: Asset sales $95.0MFY2024: Capital spending −$69.0MFY2024: Dividends −$685M$2.1BFY2024FY2025: Operating cash flow $879MFY2025: Shares issued $607MFY2025: Asset sales $283MFY2025: Capital spending −$80.9MFY2025: Dividends −$780M$1.8BFY2025
Over these 5 years operating cash flow totalled $3.6B; the largest uses were dividends ($3.4B) and acquisitions ($604M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$196M
Debt$4.3B
Net debt$4.1B

Omega Healthcare Investors funds itself: free cash flow was $777M over the last twelve months, and $196M of cash and investments stands against $4.3B of debt.

Omega Healthcare Investors: debt maturities by year (FY2025)Omega Healthcare Investors: debt maturities by year (FY2025)$700MYear 2$850MYear 3$742MYear 4$600MYear 5$1.4BAfter year 5
Principal due in each year as disclosed in the annual report, against $196M of cash and investments now.

Where the cash came from and went

Omega Healthcare Investors: sources (+) and uses (−) of cash, Q3 2026Omega Healthcare Investors: sources (+) and uses (−) of cash, Q3 2026Shares issued$234MDividends−$207MOperating cash flow$191MReal estate bought−$144MCash drawn (+) / kept (−)−$39.4MCapital spending−$24.6MOther investing$12.7MNet borrowing (+) / repaid (−)−$12.0MOther financing−$10.4MExchange rates−$375KAsset & business sales−$67K
Omega Healthcare Investors: sources (+) and uses (−) of cash, TTM to Q3 2026Omega Healthcare Investors: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$1.1BOperating cash flow$855MDividends−$804MAsset & business sales$578MCash drawn (+) / kept (−)$551MReal estate bought−$425MShares issued$400MCapital spending−$77.9MOther investing$39.3MExchange rates−$66K

From profit to cash

Omega Healthcare Investors: net income to operating cash flow, Q3 2026Omega Healthcare Investors: net income to operating cash flow, Q3 2026Net income$86.8MDepreciation & amortization$82.0MStock-based pay$23.7MGains on disposals$434KOther non-cash−$4.3MContract assets$1.2MOther operating capital−$10.1MOperating cash flow$191M
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$191M−$24.6M−$207M−$12.0M$234M−$39.4M$166M
Q2 2026$218M−$17.9M−$200M−$827M$61.4M−$131M$200M
Q1 2026$216M−$8.8M−$198M−$536M$105M$1.2M$207M
Q4 2025$231M−$26.7M−$198M—−$42K$720M$204M
Q3 2025$227M−$21.2M−$198M−$1.3M$89.0M−$2.4M$205M
Q2 2025$239M−$14.7M−$195M−$127M$257M−$369M$225M
Q1 2025$182M−$20.2M−$189M−$401M$261M$145M$162M
Q4 2024$229M−$15.5M−$181M—$434M−$188M$213M

Omega Healthcare Investors: income statement and cash flow

Omega Healthcare Investors, Q3 2026: revenue $341M (+9% year over year), operating margin 97.4%. The chart follows the revenue to costs, profit and cash.

Omega Healthcare Investors: 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.