STEWART INFORMATION SERVICES CORP

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

STC$44.81-2.5%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated statements of cash flows

	For the Years Ended December 31,
	2025	2024	2023
(in $ thousands)
Reconciliation of net income to cash provided by operating activities:
Net income	130,163	88,156	45,598
Adjustments for:
Depreciation and amortization	61,070	61,612	62,447
Provision for credit losses on receivables	2,318	2,214	2,425
Net realized and unrealized (gains) losses	(5,559)	(12,937)	34
Amortization of net (discount) premium on debt securities investments	(1,509)	(792)	486
Payments for title losses less than (in excess of) provisions	4,821	(5,010)	(24,035)
Adjustments for insurance recoveries of title losses	—	208	(208)
Increase in receivables – net	(14,840)	(12,054)	(5,355)
(Increase) decrease in other assets – net	(20,129)	(17,529)	3,178
Increase (decrease) in payables and accrued liabilities – net	23,768	13,325	(6,432)
Change in net deferred income taxes	8,274	4,487	(6,772)
Net income from equity investees	(2,465)	(1,759)	(1,071)
Dividends received from equity investees	2,176	1,443	1,408
Stock-based compensation expense	17,100	13,564	10,920
Other – net	500	681	419
Cash provided by operating activities	205,688	135,609	83,042
Investing activities:
Proceeds from sales of investments in securities	140,879	36,582	60,457
Proceeds from matured investments in debt securities	73,817	94,003	71,753
Purchases of investments in securities	(112,100)	(121,498)	(78,017)
Net purchases of short-term investments	(4,152)	(4,736)	(14,275)
Purchases of property and equipment and other long-lived assets	(73,409)	(40,468)	(37,791)
Cash paid for acquisition of businesses and related assets	(370,011)	(14,383)	(25,100)
Increase in notes receivable	(21,718)	(8,320)	(8,040)
Purchases of cost-basis and other investments	(8,751)	(31,593)	(1,015)
Other – net	6,864	3,150	2,059
Cash used by investing activities	(368,581)	(87,263)	(29,969)
Financing activities:
Proceeds from notes payable and line of credit	201,175	3,387	3,538
Payments on notes payable	(1,224)	(3,378)	(5,776)
Cash dividends paid	(58,485)	(53,916)	(50,523)
Distributions to noncontrolling interests	(13,921)	(13,091)	(16,135)
Payment of acquisition contingent consideration	(5,437)	(720)	(3,390)
Issuance of Common Stock	140,807	—	—
Repurchases of Common Stock	(3,887)	(3,844)	(1,783)
Proceeds from stock option and employee stock purchase plan exercises	7,502	10,550	4,970
Other - net	(1,320)	54	—
Cash provided (used) by financing activities	265,210	(60,958)	(69,099)
Effects of changes in foreign currency exchange rates	3,160	(4,455)	1,024
Net change in cash and cash equivalents	105,477	(17,067)	(15,002)
Cash and cash equivalents at beginning of year	216,298	233,365	248,367
Cash and cash equivalents at end of year	321,775	216,298	233,365

F - 9

	For the Years Ended December 31,
	2025	2024	2023
(in $ thousands)
Supplemental information:
Net changes in financial statement amounts due to acquisition of businesses and other related assets and purchase accounting adjustments:
Goodwill acquired (adjusted)	187,819	12,853	(706)
Intangible assets acquired	183,980	12,000	28,710
Receivables and other assets acquired	22,309	37	296
Fixed assets and title plants (adjusted) acquired	1,825	—	(225)
Liabilities recognized	(25,922)	(10,507)	(2,975)
Net cash paid for acquisition of businesses and related assets	370,011	14,383	25,100
Income taxes paid, net	24,296	25,766	5,345
Interest paid	17,771	17,460	17,169

F - 10

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.