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Travelers Companies cash flow, quarter by quarter

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

Free cash flow$3.9B in Q3 2026 · $10.7B over twelve months

Operating cash flow$3.9B
Free cash flow+$3.9B
Cash / net income2.0×

Analysis

In Q3 2026, Travelers Companies generated $3.9B of operating cash flow. That is $349M less than in Q3 2025 ($4.2B).

Over the twelve months to Sep 30, 2026, operating cash flow was $10.7B; the largest uses were buybacks ($6.2B), other investing ($3.8B), dividends ($1.0B); besides operations, cash came from net borrowing (+) / repaid (−) ($744M), shares issued ($263M); the cash balance rose by $208M.

Operating cash flow was $3.9B against net income of $1.9B — 2.0× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$174M, stock-based pay +$62.0M.

Free cash flow

Travelers Companies: free cash flow by quarterTravelers Companies: free cash flow by quarter$2.1BQ4 2024$1.4BQ1 2025$2.3BQ2 2025$4.2BQ3 2025$2.7BQ4 2025$2.2BQ1 2026$1.9BQ2 2026$3.9BQ3 2026
Operating cash flow less capital spending.
Travelers Companies: operating cash flow against capital spendingTravelers Companies: operating cash flow against capital spendingOperating cash flowCapital spending$2.1B$0Q4 2024$1.4B$0Q1 2025$2.3B$0Q2 2025$4.2B$0Q3 2025$2.7B$0Q4 2025$2.2B$0Q1 2026$1.9B$0Q2 2026$3.9B$0Q3 2026
Latest (Q3 2026): Operating cash flow $3.9B, Capital spending $0.

Capital allocation, year by year

Travelers Companies: where the cash came from (up) and went (down), by fiscal yearTravelers Companies: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesAcquisitionsBuybacksDividendsFY2021: Operating cash flow $7.3BFY2021: Net borrowing $739MFY2021: Shares issued $293MFY2021: Asset sales $31.0MFY2021: Acquisitions −$38.0MFY2021: Buybacks −$2.2BFY2021: Dividends −$869M$8.3BFY2021FY2022: Operating cash flow $6.5BFY2022: Shares issued $267MFY2022: Asset sales $10.0MFY2022: Acquisitions −$4.0MFY2022: Buybacks −$2.0BFY2022: Dividends −$875M$6.7BFY2022FY2023: Operating cash flow $7.7BFY2023: Net borrowing $738MFY2023: Shares issued $141MFY2023: Buybacks −$958MFY2023: Dividends −$908M$8.6BFY2023FY2024: Operating cash flow $9.1BFY2024: Shares issued $321MFY2024: Asset sales $64.0MFY2024: Acquisitions −$382MFY2024: Buybacks −$1.0BFY2024: Dividends −$951M$9.5BFY2024FY2025: Operating cash flow $10.6BFY2025: Net borrowing $1.2BFY2025: Shares issued $214MFY2025: Buybacks −$3.0BFY2025: Dividends −$979M$12.1BFY2025
Over these 5 years operating cash flow totalled $41.1B; the largest uses were buybacks ($9.1B) and dividends ($4.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$766M
Debt$300M
Net cash$466M
Due within a year$200M

Travelers Companies funds itself: free cash flow was $10.7B over the last twelve months, and $766M of cash and investments stands against $300M of debt ($200M due within a year, 3.8× covered by cash).

Travelers Companies: debt maturities by year (FY2025)Travelers Companies: debt maturities by year (FY2025)$200MYear 1$125MYear 2
Principal due in each year as disclosed in the annual report, against $766M of cash and investments now.

Where the cash came from and went

Travelers Companies: sources (+) and uses (−) of cash, Q3 2026Travelers Companies: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$3.9BOther investing−$2.8BBuybacks−$1.5BOther financing$744MDividends−$259MCash drawn (+) / kept (−)−$145MShares issued$88.0MReal estate bought−$12.0MTaxes on employees’ shares−$5.0MAsset & business sales$4.0MExchange rates−$1.0M
Travelers Companies: sources (+) and uses (−) of cash, TTM to Q3 2026Travelers Companies: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$10.7BBuybacks−$6.2BOther investing−$3.8BDividends−$1.0BNet borrowing (+) / repaid (−)$744MShares issued$263MCash drawn (+) / kept (−)−$208MOther financing−$200MTaxes on employees’ shares−$161MReal estate bought−$59.0MAsset & business sales$17.0MExchange rates−$6.0M

From profit to cash

Travelers Companies: net income to operating cash flow, Q3 2026Travelers Companies: net income to operating cash flow, Q3 2026Net income$1.9BDepreciation & amortization$174MStock-based pay$62.0MOperating cash flow$3.9B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$3.9B−$1.5B−$259M$88.0M−$145M$3.9B
Q2 2026$1.9B−$1.3B−$263M$38.0M−$6.0M$1.9B
Q1 2026$2.2B−$1.8B−$237M$86.0M$227M$2.2B
Q4 2025$2.7B−$1.6B−$242M$51.0M−$284M$2.7B
Q3 2025$4.2B−$619M−$247M$36.0M−$70.0M$4.2B
Q2 2025$2.3B−$500M−$250M$70.0M$65.0M$2.3B
Q1 2025$1.4B−$250M−$240M$57.0M−$25.0M$1.4B
Q4 2024$2.1B−$256M−$240M$76.0M$73.0M$2.1B

Travelers Companies: income statement and cash flow

Travelers Companies, Q3 2026: revenue $12.4B (-0.5% year over year), operating margin 19.1%. The chart follows the revenue to costs, profit and cash.

Travelers Companies: 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.