United Fire Group (UFCS) Cash Flow: Operating & Free Cash Flow

United Fire Group (UFCS) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), United Fire Group generated $269.74M of operating cash flow and spent $6.45M on capital expenditures. That left free cash flow of $263.30M, down 19.8% from $328.43M a year earlier, or 19.0% of revenue. It returned $17.30M to shareholders through $16.31M in dividends and $993.00K in share buybacks.

United Fire Group Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for United Fire Group, Inc. (UFCS) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	118.19	61.96	-29.70	15.03	80.59	-112.71	14.82	29.56	44.87
Depreciation & Amortization	10.77	10.90	10.51	7.67	6.57	6.66	11.19	5.17	4.57
Deferred Income Tax	-5.65	-8.39	-8.31	-3.93	5.63	-17.47	10.15	-16.22	-5.92
Stock Based Compensation	9.03	5.52	3.25	2.83	3.44	4.99	6.15	5.25	4.81
Change in Working Capital	131.58	203.50	74.37	-77.20	-70.95	29.28	94.43	65.69	83.05
Change in Accounts Receivable	-41.15	13.71	-141.42	-91.14	0.52	0.00	0.00	0.00	0.00
Change in Other Working Capital	172.73	-3.83	215.79	-1.29	-50.28	29.28	94.43	65.69	83.05
Other Operating Activities	5.83	58.42	121.63	49.77	9.79	130.68	-42.99	20.65	38.72
Net Cash from Operating Activities	269.74	340.30	171.74	-1.25	29.92	41.44	93.75	110.10	170.09
Investing Activities
Capital Expenditures	-6.45	-11.87	-10.89	-2.14	-13.98	-18.86	-32.43	-33.05	-17.16
Purchases of Investments	-713.97	-960.57	-292.95	-297.45	-405.43	-444.66	-257.81	-540.35	-267.54
Sales/Maturities of Investments	379.82	679.96	162.08	280.42	451.14	376.22	311.67	263.80	205.11
Other Investing Activities	14.63	9.38	-8.14	-0.10	0.00	-5.56	-16.93	290.40	17.60
Net Cash from Investing Activities	-325.96	-292.49	-149.89	-19.17	31.73	-92.87	4.50	-19.20	-61.99
Financing Activities
Debt Repayment	28.90	66.95	0.00	0.00	0.00	50.00	0.00	0.00	0.00
Common Stock Issued	0.00	0.35	0.00	0.83	-0.42	-0.07	2.38	7.17	4.83
Common Stock Repurchased	-0.99	0.00	-0.29	0.00	-2.01	-2.74	-11.70	-5.40	-29.78
Dividends Paid	-16.31	-16.21	-16.16	-15.86	-15.06	-28.53	-32.66	-105.41	-27.34
Other Financing Activities	0.00	-3.05	0.00	0.00	0.00	0.00	0.00	-11.55	-55.26
Net Cash from Financing Activities	11.60	51.09	-16.45	-15.03	-17.49	18.66	-41.99	-115.19	-107.55
Summary
Net Change in Cash	-44.62	98.90	5.40	-35.45	44.16	-32.77	56.27	-31.11	6.37
Cash at Beginning of Period	200.95	102.05	96.65	132.10	87.95	120.72	64.45	95.56	89.19
Cash at End of Period	156.33	200.95	102.05	96.65	132.10	87.95	120.72	64.45	95.56
Free Cash Flow	263.30	328.43	160.85	-3.39	15.94	22.57	61.33	77.05	152.94
Supplemental Disclosures
Interest Paid	-	7.17	3.26	3.19	3.19	-	-	-	-
Income Taxes Paid	-	16.11	1.35	21.55	5.36	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About United Fire Group Cash Flow

What is United Fire Group's free cash flow?

United Fire Group generated free cash flow of $263.30M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $269.74M minus $6.45M of capital expenditures. That was down 19.8% from $328.43M a year earlier. Free cash flow equaled 19.0% of revenue.

How much does United Fire Group spend on capital expenditures?

United Fire Group spent $6.45M on capital expenditures in fiscal 2025, compared with $11.87M a year earlier. That equals 2.4% of operating cash flow.

Does United Fire Group pay dividends or buy back shares?

Yes. In fiscal 2025 United Fire Group returned $16.31M in dividends and $993.00K in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition