ENAV S.p.A. (BIT:ENAV)

ENAV S.p.A. Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	106.14	93.06	125.83	112.92	105	78.37
Depreciation & Amortization	128.13	125.66	131.85	128.47	126.36	129.26
Loss (Gain) From Sale of Assets	-0.08	0	0.01	0.02	0.05	0.04
Stock-Based Compensation	1.69	1.89	0.95	0.92	1.06	0.96
Other Operating Activities	44.49	41.14	56.03	7.48	-0.47	10.51
Change in Accounts Receivable	-25.05	-28.73	-14.29	22.2	-76.68	-342.61
Change in Inventory	0.3	1.23	2.71	-0.08	0.59	0.63
Change in Accounts Payable	-42.23	-19.63	-30.33	-38.34	28.66	-26.11
Change in Income Taxes	-33.04	-52.67	-56.54	-19.04	22.47	39.1
Change in Other Net Operating Assets	176.07	178.67	61.67	-2.73	31.21	-42.87
Operating Cash Flow	356.41	340.62	277.89	210.62	236.9	-157.15
Operating Cash Flow Growth	15.97%	22.57%	31.94%	-11.09%	-	-

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-93.85	-84.98	-103.97	-83.83	-79.76	-71.5
Sale (Purchase) of Intangibles	-25.25	-28.14	-15.08	-26.65	-18.01	-14.13
Investment in Securities	-7.91	-	-	-	-	-
Other Investing Activities	46.14	36.15	40.3	38.88	27.6	25.74
Investing Cash Flow	-80.87	-76.97	-78.76	-71.6	-70.17	-59.89

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	0.11	-
Long-Term Debt Issued	-	-	80.5	360	180	180
Total Debt Issued	250	-	80.5	360	180.11	180
Short-Term Debt Repaid	-	-	-	-	-	-1.51
Long-Term Debt Repaid	-	-20.08	-18.88	-433.17	-246.21	-63.67
Total Debt Repaid	-380.36	-20.08	-18.88	-433.17	-246.21	-65.18
Net Debt Issued (Repaid)	-130.36	-20.08	61.62	-73.17	-66.1	114.82
Repurchase of Common Stock	-6.52	-6.52	-	-2.16	-	-
Common Dividends Paid	-156.69	-146.17	-124.46	-106.44	-58.41	-
Other Financing Activities	-	-	-	-	-	9.85
Financing Cash Flow	-293.57	-172.76	-62.83	-181.76	-124.51	124.68

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-0.01	-0.31	0.16	-0.11	0.2	0.25
Net Cash Flow	-18.04	90.58	136.46	-42.86	42.42	-92.11

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	262.57	255.64	173.92	126.79	157.14	-228.65
Free Cash Flow Growth	27.71%	46.99%	37.17%	-19.31%	-	-
Free Cash Flow Margin	25.84%	26.01%	17.40%	13.03%	17.32%	-28.57%
Free Cash Flow Per Share	0.61	0.47	0.32	0.23	0.29	-0.42
Levered Free Cash Flow	66.56	63.85	-6.4	119.57	43.45	5.16
Unlevered Free Cash Flow	77.45	77.03	8.78	133.07	49.3	9.26

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	14.47	18.98	23.35	24.15	6.06	4.23
Cash Income Tax Paid	32.93	51.25	55.47	61.07	39.57	15.25
Change in Working Capital	76.05	78.88	-36.78	-39.21	4.9	-376.29

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 19, 2026

Data Sources Report a data error