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United Fire Group cash flow, quarter by quarter

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

Free cash flow$101M in Q3 2026 · $312M over twelve months

Operating cash flow$101M
Free cash flow+$101M
Cash / net income2.9×

Analysis

In Q3 2026, United Fire Group generated $101M of operating cash flow. That is $40.2M more than in Q3 2025 ($60.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $312M; the largest uses were other investing ($372M), dividends ($19.5M), shares issued ($3.1M); the cash balance fell by $83.0M.

Operating cash flow was $101M against net income of $35.1M — 2.9× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$2.7M, stock-based pay +$2.6M, deferred taxes −$815K.

Free cash flow

United Fire Group: free cash flow by quarterUnited Fire Group: free cash flow by quarter$156MQ4 2024$35.7MQ1 2025$53.4MQ2 2025$60.8MQ3 2025$120MQ4 2025$56.6MQ1 2026$34.2MQ2 2026$101MQ3 2026
Operating cash flow less capital spending.
United Fire Group: operating cash flow against capital spendingUnited Fire Group: operating cash flow against capital spendingOperating cash flowCapital spending$156M$0Q4 2024$35.7M$0Q1 2025$53.4M$0Q2 2025$60.8M$0Q3 2025$120M$0Q4 2025$56.6M$0Q1 2026$34.2M$0Q2 2026$101M$0Q3 2026
Latest (Q3 2026): Operating cash flow $101M, Capital spending $0.

Capital allocation, year by year

United Fire Group: where the cash came from (up) and went (down), by fiscal yearUnited Fire Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2021: Operating cash flow $29.9MFY2021: Shares issued −$421KFY2021: Buybacks −$2.0MFY2021: Dividends −$15.1M$29.9MFY2021FY2022: Operating cash flow −$1.3MFY2022: Shares issued $828KFY2022: Dividends −$15.9M$828KFY2022FY2023: Operating cash flow $172MFY2023: Shares issued −$290KFY2023: Dividends −$16.2M$172MFY2023FY2024: Operating cash flow $340MFY2024: Net borrowing $70.0MFY2024: Shares issued $348KFY2024: Dividends −$16.2M$411MFY2024FY2025: Operating cash flow $270MFY2025: Net borrowing $30.0MFY2025: Shares issued −$993KFY2025: Dividends −$16.3M$300MFY2025
Over these 5 years operating cash flow totalled $810M; the largest uses were dividends ($79.6M) and buybacks ($2.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$151M
Debt$146M
Net cash$4.3M

United Fire Group funds itself: free cash flow was $312M over the last twelve months, and $151M of cash and investments stands against $146M of debt.

Where the cash came from and went

United Fire Group: sources (+) and uses (−) of cash, Q3 2026United Fire Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$101MOther investing−$84.5MCash drawn (+) / kept (−)−$11.3MDividends−$5.1MShares issued−$116K
United Fire Group: sources (+) and uses (−) of cash, TTM to Q3 2026United Fire Group: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing−$372MOperating cash flow$312MCash drawn (+) / kept (−)$83.0MDividends−$19.5MShares issued−$3.1M

From profit to cash

United Fire Group: net income to operating cash flow, Q3 2026United Fire Group: net income to operating cash flow, Q3 2026Net income$35.1MDepreciation & amortization$2.7MStock-based pay$2.6MDeferred taxes−$815KGains on investments−$64KPrepaid and other assets$1KOther liabilities$619KOperating cash flow$101M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$101M−$5.1M—−$116K−$11.3M$101M
Q2 2026$34.2M−$5.1M—$203K$22.6M$34.2M
Q1 2026$56.6M−$5.1M—−$2.4M−$5.7M$56.6M
Q4 2025$120M−$4.1M—−$760K$77.4M$120M
Q3 2025$60.8M−$4.1M$30.0M$985K−$31.6M$60.8M
Q2 2025$53.4M−$4.1M—−$486K−$18.5M$53.4M
Q1 2025$35.7M−$4.1M—−$732K$17.3M$35.7M
Q4 2024$156M−$4.1M—$758K−$3.6M$156M

United Fire Group: income statement and cash flow

United Fire Group, Q3 2026: revenue $392M (+11% year over year), operating margin 11.4%. The chart follows the revenue to costs, profit and cash.

United Fire 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.