Cash generation remains highly unstable, characterized by a $73.0M working capital outflow in 2026Q1 and a history of OCF/NI ratios that have fluctuated as wildly as negative 36.22 in 2023Q4.
| Cash from Operations | 35.15M | 0 | 104.95M | 116.6M | 120.76M | 133.21M | 231.91M |
| Operating CF Margin % | - | - | 16.31% | 19.22% | 27.55% | 28.91% | -36.05% |
| Operating CF Growth % | -390.76% | -100% | -9.99% | -3.45% | -9.35% | -42.56% | - |
| Net Income | 79.71M | 90.27M | 68.72M | 75M | 109.74M | 115.44M | -513.17M |
| Depreciation & Amortization | 9.32M | 0 | 14.64M | 16M | 6.52M | 6.67M | 0 |
| Stock-Based Compensation | 4.41M | 0 | 3.38M | 3.72M | 3.42M | 2.75M | 0 |
| Deferred Taxes | -6.48M | 0 | 409K | 16.17M | 4.36M | 5.83M | 0 |
| Other Non-Cash Items | 37.37M | -90.27M | 10.34M | 19.23M | 11.05M | -4.07M | 745.08M |
| Working Capital Changes | -80.84M | 0 | 7.47M | -13.52M | -14.33M | 6.59M | 0 |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 1.82B | 0 | -139.6M | -665.26M | -557.69M | 131.11M | 636.84M |
| Capital Expenditures | -7.18M | 0 | -4.99M | -12.36M | -7.39M | -4.79M | -7.21M |
| CapEx % of Revenue | 0.72% | - | 0.77% | 2.04% | 1.69% | 1.04% | -1.12% |
| Acquisitions | 0 | - | - | - | - | - | - |
| Investments | 20.43B | 19.47B | 10.55B | 10.44B | 8.2B | 7.78B | 0 |
| Other Investing | 1.63B | 0 | -160.14M | -712.19M | -530.02M | 135.65M | 1.1B |
| Cash from Financing | -1.92B | 0 | 445.29M | 298.74M | 492.15M | -371.51M | 109.3M |
| Debt Issued (Net) | 0 | - | - | - | - | - | - |
| Equity Issued (Net) | -2M | 0 | 82.58M | -23.84M | -13.78M | -9.98M | 191K |
| Dividends Paid | -51.09M | 0 | -48.06M | -47.93M | -40.08M | -37.46M | -36.56M |
| Share Repurchases | -2M | 0 | -17.54M | -23.84M | -13.78M | -9.98M | -473K |
| Other Financing | -1.52B | 0 | 267.85M | 479.77M | -529.17M | 139.01M | 402.05M |
| Net Change in Cash | -1.29B | -543.67M | 410.64M | -249.93M | 55.22M | -107.18M | 0 |
| Free Cash Flow | 29.42M | 0 | 99.97M | 104.24M | 113.37M | 128.42M | 224.7M |
| FCF Margin % | 2.95% | - | 15.54% | 17.19% | 25.86% | 27.87% | -34.93% |
| FCF Growth % | -70.91% | -100% | -4.1% | -8.06% | -11.72% | -42.85% | - |
| FCF per Share | 0.35 | - | 1.17 | 1.20 | 1.23 | 1.30 | 2.23 |
| FCF Conversion (FCF/Net Income) | 0.37x | - | 1.72x | 1.68x | 1.31x | 1.12x | -0.44x |
| Interest Paid | 145M | 0 | 291.43M | 238.4M | 41.04M | 30.29M | 0 |
| Taxes Paid | 12.2M | 0 | 13.09M | 8.63M | 22.55M | 27.8M | 0 |
Earnings and cash volatility
As reported in financial statements, BBT exhibits highly inconsistent cash conversion, with the OCF/NI ratio fluctuating wildly from a negative 36.22 in 2023Q4 to a positive 2.21 in 2024Q4, suggesting that net income is currently a poor proxy for the firm's actual cash-generating capacity.
The extreme divergence between net income and operating cash flow indicates that non-cash adjustments or significant working capital swings are heavily distorting reported profitability. Investors should monitor whether this volatility is a structural feature of the firm's banking operations or a symptom of aggressive accounting practices regarding revenue recognition.
Based on the provided quarterly data, BBT's free cash flow trajectory remains highly unstable, swinging from a $51.3M inflow in 2023Q4 to a $16.1M outflow in 2026Q1, which highlights the difficulty in forecasting sustainable cash generation for the firm's current business model.
The lack of a consistent FCF margin trend suggests that the firm's cash flow is highly sensitive to cyclical shifts or irregular operational expenses. This inconsistency warrants further investigation into whether the firm's growth initiatives are consuming cash at a rate that outpaces its ability to generate organic liquidity.
According to recent SEC filings, BBT experienced a massive $73.0M working capital outflow in 2026Q1, a sharp reversal from the $21.5M inflow seen in 2024Q4, indicating that the firm's cash position is highly vulnerable to rapid changes in its underlying operational and client-related balances.
These significant fluctuations in working capital suggest that the firm's liquidity is heavily tied to client-driven movements that may not be fully within management's control. The reliance on these volatile balances implies that the firm's cash position may be less 'fortress-like' than the headline numbers suggest.
As reported in financial statements, BBT has maintained a consistent dividend payout of $12.0M per quarter for most of the observed period, even during quarters where operating cash flow was insufficient to cover these distributions, suggesting a strong management commitment to shareholder returns despite cash volatility.
The decision to prioritize dividends while operating cash flow remains erratic may indicate a desire to signal financial strength to the market. However, this strategy appears to be putting pressure on the firm's internal cash reserves, which warrants further investigation into the long-term sustainability of this payout policy.
Quick answers to the most common questions about buying BBT stock.
Beacon Financial Corp. (BBT) generated $0.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Beacon Financial Corp. (BBT) reported negative free cash flow of $0.0M in 2025, indicating capital requirements exceeded cash from operations.
Beacon Financial Corp. (BBT) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.