TWFG, Inc. Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	27.06	2.75	26.1	20.61
Depreciation & Amortization	14.89	11.04	3.72	3.3
Other Amortization	0.76	0.98	1.15	-
Loss (Gain) From Sale of Assets	-0.53	-	-0.08	-0.89
Stock-Based Compensation	4.91	2.22	-	-
Other Operating Activities	7.85	26.9	-0.12	3.3
Change in Accounts Receivable	0.65	-1.76	-0.38	-1.55
Change in Accounts Payable	-	-	0.13	-0.07
Change in Other Net Operating Assets	-3.77	-1.65	-1.19	-2.62
Operating Cash Flow	51.81	40.48	30.15	25.76
Operating Cash Flow Growth	48.33%	34.24%	17.08%	-
Capital Expenditures	-3.05	-3.2	-0.26	-0.12
Sale of Property, Plant & Equipment	0.05	-	-	0.04
Divestitures	0.49	-	-	-5
Sale (Purchase) of Intangibles	-54.7	-21.85	-14.46	-9.76
Other Investing Activities	-	-	0.06	0.33
Investing Cash Flow	-67.21	-25.06	-14.66	-14.5
Long-Term Debt Issued	-	-	41	-
Long-Term Debt Repaid	-	-43.44	-2.64	-2.56
Net Debt Issued (Repaid)	-2.34	-43.44	38.36	-2.56
Issuance of Common Stock	-	193.55	-	-
Common Dividends Paid	-18.06	-9.31	-33.41	-20.56
Other Financing Activities	7.31	2.62	-14.65	7.85
Financing Cash Flow	-22.97	143.43	-9.7	-15.26
Net Cash Flow	-38.36	158.86	5.8	-4.01
Free Cash Flow	48.76	37.28	29.89	25.64
Free Cash Flow Growth	40.91%	24.70%	16.59%	-
Free Cash Flow Margin	21.20%	18.30%	17.38%	16.66%
Free Cash Flow Per Share	3.22	2.49	47.32	40.59
Cash Interest Paid	0.15	2.3	0.83	0.4
Levered Free Cash Flow	-31.86	-0.18	24.15	-
Unlevered Free Cash Flow	-31.66	1.21	24.78	-
Change in Working Capital	-3.12	-3.4	-1.44	-4.24

Source: S&P Capital IQ. Standard template. Financial Sources.