DSM-Firmenich AG Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-1,740	3,539	12,452	8,255	7,322
Depreciation & Amortization	3,122	1,430	1,307	652	681
Stock-Based Compensation	38	31	23	34	22
Other Adjustments	-146	114	-2,199	-808	-1,478
Change in Receivables	-16	-18	49	-133	-194
Changes in Inventories	-89	-38	89	-442	-323
Changes in Accounts Payable	5	97	126	116	334
Changes in Income Taxes Payable	-320	-275	-179	-131	-133
Changes in Other Operating Activities	-838	268	160	-935	-291
Operating Cash Flow	1,445	1,778	1,265	965	1,427
Operating Cash Flow Growth	-18.73%	40.55%	31.09%	-32.38%	-4.49%
Capital Expenditures	-628	-645	-555	-506	-433
Sale of Property, Plant & Equipment	64	19	16	17	27
Purchases of Intangible Assets	-136	-119	-129	-138	-137
Purchases of Investments	-119	-89	-208	-830	-2,130
Proceeds from Sale of Investments	36	498	238	1,031	1,777
Payments for Business Acquisitions	-19	-5	-3,691	-74	-704
Proceeds from Business Divestments	1,270	42	3,533	1,366	1,791
Other Investing Activities	37	47	62	3	-435
Investing Cash Flow	505	-252	-726	876	208
Short-Term Debt Issued	24	38	-7	-21	12
Net Short-Term Debt Issued (Repaid)	24	38	-7	-21	12
Long-Term Debt Issued	740	833	15	51	37
Long-Term Debt Repaid	-560	-623	-549	-29	-513
Net Long-Term Debt Issued (Repaid)	180	210	-534	22	-476
Issuance of Common Stock	5	21	757	25	34
Repurchase of Common Stock	-1,181	-706	-256	-210	-165
Net Common Stock Issued (Repurchased)	-1,176	-685	501	-185	-131
Repurchase of Preferred Stock	-783	-28	-28	-	-
Net Preferred Stock Issued (Repurchased)	-783	-28	-28	-	-
Common Dividends Paid	-718	-667	-582	-345	-266
Other Financing Activities	-1,062	-230	-198	-116	-123
Financing Cash Flow	-2,752	-1,334	-820	-645	-984
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-72	19	-18	-2	39
Net Cash Flow	-802	192	-281	1,196	651
Free Cash Flow	817	1,133	710	459	994
Free Cash Flow Growth	-27.89%	59.58%	54.68%	-53.82%	-4.05%
FCF Margin	9.04%	12.51%	6.68%	5.47%	13.67%
Free Cash Flow Per Share	3.15	4.28	3.04	2.65	5.73
Levered Free Cash Flow	-1,032	1,228	5,327	1,689	1,891
Unlevered Free Cash Flow	1,963	1,384	451	-564	546

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.