Axis Capital Holdings LTD cash flow statement

In fiscal 2025, Axis Capital Holdings LTD's operations generated −$40.9m of cash. It returned $143m in dividends and $888m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Axis Capital Holdings LTD: cash flow statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash from operations	850	1,188	1,190	1,121	1,097	862	791	407	259	11	199	344	1,198	798	1,256	1,845	−41	2,659
Stock-based pay	48	37	39	68	57	63	43	52	13	34	32	29	38	48	54	43	45	55
Dividends paid	113	108	206	120	118	118	119	132	135	134	137	142	146	149	154	152	143	135
Share buybacks	176	710	66	318	472	543	314	495	261	0	0	0	0	35	0	200	888	546
Shares issued	4	8	7	5	20	6	4	0	0	0	—	—	—	—	—	—	—	—

US$ millions unless shown otherwise. Fiscal quarters.

Axis Capital Holdings LTD: cash flow statement, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Cash from operations	356	309	−1,654	674	630	519	632	878
Stock-based pay	9	12	11	11	11	18	13	13

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Axis Capital Holdings LTD's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Axis Capital Holdings LTD.