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Westwood Holdings Group cash flow, quarter by quarter

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

Free cash flow$5.9M in Q3 2026 · $16.1M over twelve months

Operating cash flow$5.9M
Capital spending−$53K
Free cash flow+$5.9M
Cash / net income1.9×

Analysis

In Q3 2026, Westwood Holdings Group generated $5.9M of operating cash flow and spent $53K on capital projects, leaving free cash flow of $5.9M. That is $2.6M less than in Q3 2025 ($8.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $16.9M; the largest uses were other investing ($5.9M), dividends ($5.5M), taxes on employees’ shares ($1.3M); the cash balance rose by $2.5M.

Operating cash flow was $5.9M against net income of $3.1M — 1.9× profit, cash ran ahead of reported earnings. The largest differences: employee-related liabilities +$2.8M, stock-based pay +$1.0M, other liabilities +$910K.

Free cash flow

Westwood Holdings Group: free cash flow by quarterWestwood Holdings Group: free cash flow by quarter$8.8MQ4 2024−$4.9MQ1 2025$7.3MQ2 2025$8.5MQ3 2025$8.0MQ4 2025−$2.8MQ1 2026$5.0MQ2 2026$5.9MQ3 2026
Operating cash flow less capital spending.
Westwood Holdings Group: operating cash flow against capital spendingWestwood Holdings Group: operating cash flow against capital spendingOperating cash flowCapital spending$8.9M$75KQ4 2024−$4.9M$6KQ1 2025$7.3M$0Q2 2025$8.5M$76KQ3 2025$8.0M$4KQ4 2025−$2.6M$246KQ1 2026$5.6M$534KQ2 2026$5.9M$53KQ3 2026
Latest (Q3 2026): Operating cash flow $5.9M, Capital spending $53K.

Capital allocation, year by year

Westwood Holdings Group: where the cash came from (up) and went (down), by fiscal yearWestwood Holdings Group: where the cash came from (up) and went (down), by fiscal yearOperating cash flowAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $19.4MFY2021: Asset sales $501KFY2021: Capital spending −$178KFY2021: Buybacks −$3.0MFY2021: Dividends −$22.9M$19.9MFY2021FY2022: Operating cash flow $51.5MFY2022: Capital spending −$320KFY2022: Acquisitions $33.4MFY2022: Buybacks −$2.9MFY2022: Dividends −$5.6M$84.9MFY2022FY2023: Operating cash flow −$1.2MFY2023: Capital spending −$147KFY2023: Acquisitions $741KFY2023: Dividends −$5.5M$741KFY2023FY2024: Operating cash flow $21.1MFY2024: Capital spending −$3.5MFY2024: Buybacks −$1.3MFY2024: Dividends −$5.4M$21.1MFY2024FY2025: Operating cash flow $18.9MFY2025: Capital spending −$3.1MFY2025: Dividends −$5.4M$18.9MFY2025
Over these 5 years operating cash flow totalled $110M; the largest uses were dividends ($44.9M) and capital spending ($7.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$47.8M
Debtnone
Net cash$47.8M

Westwood Holdings Group funds itself: free cash flow was $16.1M over the last twelve months, with $47.8M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Westwood Holdings Group: sources (+) and uses (−) of cash, Q3 2026Westwood Holdings Group: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$5.9MOther investing−$3.1MCash drawn (+) / kept (−)−$1.5MDividends−$1.3MCapital spending−$53K
Westwood Holdings Group: sources (+) and uses (−) of cash, TTM to Q3 2026Westwood Holdings Group: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$16.9MOther investing−$5.9MDividends−$5.5MCash drawn (+) / kept (−)−$2.5MTaxes on employees’ shares−$1.3MOther financing−$953KCapital spending−$837K

From profit to cash

Westwood Holdings Group: net income to operating cash flow, Q3 2026Westwood Holdings Group: net income to operating cash flow, Q3 2026Net income$3.1MDepreciation & amortization$726KStock-based pay$1.0MDeferred taxes$418KReceivables$611KPayables$729KEmployee-related liabilities$2.8MPrepaid and other assets−$594KOther liabilities$910KIncome taxes payable$116KOperating cash flow$5.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$5.9M−$53K−$1.3M−$1.5M$5.9M
Q2 2026$5.6M−$534K−$1.3M$797K$5.0M
Q1 2026−$2.6M−$246K−$1.6M$2.8M−$2.8M
Q4 2025$8.0M−$4K−$1.2M−$4.6M$8.0M
Q3 2025$8.5M−$76K−$1.3M−$6.2M$8.5M
Q2 2025$7.3M—−$1.3M−$6.0M$7.3M
Q1 2025−$4.9M−$6K−$1.6M$9.4M−$4.9M
Q4 2024$8.9M−$75K−$1.2M$3.9M$8.8M

Westwood Holdings Group: income statement and cash flow

Westwood Holdings Group, Q3 2026: revenue $26.6M (+9% year over year), operating margin 5.2%. The chart follows the revenue to costs, profit and cash.

Westwood Holdings 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.