The Hartford filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $29.9 billion, which rose 9.2% on the year before. That growth rate was up 0.2 percentage points on the rate a quarter earlier.
The main points
Net income rose 29.5% over the year while free cash flow rose 2.7%, indicating that reported profit and cash are moving at different speeds.
What the company earns
Reported profit is running well ahead of the cash, with a trailing net margin of 15.4%. Net income over the twelve months was $4.6 billion, which rose 29.5% on the year before.
Where the cash went
The cash flow statement shows growth, as operating cash flow over the twelve months was $7.0 billion, up 16.8% on the year before. Capital spending was $7.0 million, or 0.0% of revenue. Free cash flow, operating cash flow less capital spending, was $5.9 billion, up 2.7% on the year before. The free-cash-flow margin was 19.8% of revenue, down 1.2 percentage points from a year earlier.
Share count
In context
Measured against its own history, today’s free-cash-flow margin of 19.8% is higher than 82% of the company’s own past quarterly readings, which have ranged from 5.7% to 21.7%. Today’s twelve-month revenue growth rate of 9.2% is higher than 82% of past readings (−24.7% to 95.6%).
What it means for value
For valuation, the figures matter through our model. In our model, growth 5 percentage points lower would lower the value by 25.5%, and 5 percentage points higher would raise it by 33.1%. A free-cash-flow margin 1 percentage point lower would lower it by 5.1%.
What comes next
The next filing will show whether the trends above continue, slow or reverse.
