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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Financials companies with the highest free cash flow

Free cash flow is operating cash flow minus capital expenditure: what is left once the company has paid to maintain and expand its asset base. We calculate it from two lines in the same filing, and a company is only ranked here if it reported both. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 208 · Fiscal year 2025 · Data as of September 25, 2026

Capital One Financial (COF) tops the list with $26.1B in free cash flow for fiscal 2025, ahead of Berkshire Hathaway ($25.0B) and Progressive ($17.2B). The top 10 together report $142B in free cash flow; the gap between #1 and #10 is ×3.20. 208 companies in Financials report free cash flow, 10.0% of the 2084-filer universe. The last place on the list, Brookfield Oaktree, comes in at $471M.

Free cash flow
#CompanyFree cash flowYoY15-year trend
1Capital One FinancialCOFUS$26.1B+54.2%
2Berkshire HathawayBRK-BUS$25.0B+115.6%
3ProgressivePGRUS$17.2B+15.9%
4American ExpressAXPUS$16.0B+31.8%
5HDFC BankHDBIN$11.4B−14.1%
6State StreetSTTUS$10.8B+$25.0B
7AllstateALLUS$9.9B+13.3%
8Schwab CharlesSCHWUS$8.8B+327.5%
9Natwest GroupNWGGB$8.4B+405.3%
10Ameriprise FinancialAMPUS$8.2B+27.1%
11Bank of MontrealBMOCA$6.7B+100.7%
12Arch CapitalACGLBM$6.1B−7.5%
13Westpac BankingWEBNFAU$5.9B+$19.1B
14Hartford InsuranceHIGUS$5.8B−0.2%
15Fidelity National FinancialFNFUS$5.6B+13.3%
16Deutsche Bank AktiengesellschaftDBUS$5.6B+$8.2B
17Northern TrustNTRSUS$5.5B+$6.0B
18Futu HoldingsFUTUCN$5.2B+31.9%
19Bank of New York MellonBNYUS$5.2B+$6.0B
20Marsh & Mclennan CompaniesMRSHUS$5.0B+25.5%
21BlackstoneBXUS$4.5B+33.0%
22StoneX GroupSNEXUS$4.3B+878.7%
23Intercontinental ExchangeICEUS$4.3B+2.0%
24Cme GroupCMEUS$4.2B+16.6%
25Reinsurance Group of AmericaRGAUS$4.1B−68.3%
26BlackRockBLKUS$3.6B−24.4%
27Berkley W RWRBUS$3.5B+89.9%
28Ares ManagementARESUS$3.2B+$461M
29AonAONIE$3.2B+14.2%
30PrudentialPUKGB$3.2B+58.6%
31Cincinnati FinancialCINFUS$3.1B+17.7%
32American InternationalAIGUS$3.1B+53.0%
33M&T BankMTBUS$2.7B−16.3%
34American NationalANG-PDUS$2.7B+9.5%
35LoewsLUS$2.7B+12.8%
36Markel GroupMKLUS$2.6B+9.2%
37Brookfield Wealth SolutionsBNTBM$2.5B−43.8%
38Coinbase GlobalCOINUS$2.4B−$5.6B
39Cna FinancialCNAUS$2.4B−2.9%
40Raymond James FinancialRJFUS$2.2B+15.2%
41Huntington BancsharesHBANUS$2.2B+30.8%
42First Citizens BancsharesFCNCAUS$2.2B−13.5%
43KeycorpKEYUS$2.1B+250.8%
44Citizens FinancialCFGUS$2.1B+2.3%
45Bread FinancialBFHUS$2.0B+22.0%
46NasdaqNDAQUS$2.0B+14.8%
47Sun Life FinancialSLFCA$1.9B+8.9%
48Arthur J. GallagherAJGUS$1.8B−26.9%
49Enova InternationalENVAUS$1.8B+18.5%
50Cboe Global MarketsCBOEUS$1.7B+61.7%
51Robinhood MarketsHOODUS$1.6B+$68.0M
52AssurantAIZUS$1.6B+43.8%
53Qfin HoldingsQFINCN$1.6B+23.2%
54Willis Towers WatsonWTWGB$1.5B+22.0%
55Price T RoweTROWUS$1.5B+17.2%
56InvescoIVZUS$1.4B+28.6%
57Brown & BrownBROUS$1.4B+26.6%
58Up FintechTIGRCN$1.3B+58.7%
59Globe LifeGLUS$1.3B−5.8%
60Voya FinancialVOYAUS$1.2B+13.7%
61Blue Owl CapitalOWLUS$1.2B+28.1%
62Selective InsuranceSIGIUS$1.2B+11.7%
63EvercoreEVRUS$1.2B+23.4%
64Hanover InsuranceTHGUS$1.2B+47.0%
65Tradeweb MarketsTWUS$1.1B+31.5%
66Stifel FinancialSFUS$1.1B+153.2%
67Credit AcceptanceCACCUS$1.1B−7.3%
68Mercury GeneralMCYUS$1.0B+3.8%
69Webster FinancialWBSUS$1.0B−26.3%
70Kinsale CapitalKNSLUS$990M+4.0%
71Affiliated ManagersAMGUS$967M+4.1%
72Zions Bancorporation, National AssociationZIONUS$952M−9.4%
73Franklin TempletonBENUS$912M+14.8%
74PrimericaPRIUS$897M—
75Wintrust FinancialWTFCUS$860M+35.4%
76Mgic InvestmentMTGUS$852M+17.7%
77Essent GroupESNTBM$849M−0.7%
78Lloyds BankingLYGGB$831M+$12.0B
79Slide InsuranceSLDEUS$795M+46.1%
80First American FinancialFAFUS$763M+12.3%
81Columbia Banking SystemCOLBUS$719M+60.4%
82Houlihan LokeyHLIUS$682M−15.7%
83Marex GroupMRXGB$654M−43.2%
84Ryan SpecialtyRYANUS$641M+24.4%
85Atlanticus HoldingsATLCPUS$637M+112.6%
86RliRLIUS$609M+9.6%
87Affirm HoldingsAFRMUS$602M+106.9%
88First HorizonFHNUS$595M−51.4%
89Sei InvestmentsSEICUS$585M−0.9%
90Piper Sandler CompaniesPIPRUS$581M+$251M
91Erie IndemnityERIEUS$571M+17.4%
92WebullBULLUS$562M+207.2%
93KemperKMPRUS$554M+68.0%
94Circle InternetCRCLUS$530M+62.3%
95InterdigitalIDCCUS$529M+98.9%
96Texas Pacific LandTPLUS$527M+72.1%
97Virtu FinancialVIRTUS$496M−15.5%
98LazardLAZUS$487M−30.1%
99PJT PartnersPJTUS$480M−8.9%
100Brookfield OaktreeOAK-PAUS$471M+$192M

All figures from SEC filings · FY2025 · 100

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{{cite web |title=Financials companies with the highest free cash flow |url=https://companiesranked.com/en/financial-companies-with-the-highest-free-cash-flow |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-financial-companies-with-the-highest-free-cash-flow-2026,
  author       = {{CompaniesRanked}},
  title        = {{Financials companies with the highest free cash flow}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/financial-companies-with-the-highest-free-cash-flow}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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