Leonardo S.p.a. (BIT:LDO)

Leonardo S.p.a. Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,063	1,334	1,159	695	932	587
Depreciation & Amortization	608	773	777	645	627	525
Other Adjustments	246.5	170	209	467	155	328
Change in Receivables	138	-261	-275	-296	-829	-1,268
Changes in Inventories	-328.5	-	-	-387	207	488
Changes in Income Taxes Payable	-100.5	-137	-160	-200	-58	-53
Changes in Unearned Revenue	-70.5	-	-	585	144	-506
Changes in Other Operating Activities	-526.5	-137	-169	-1,165	-1,034	-647
Operating Cash Flow	1,930	1,750	1,541	1,186	1,152	742
Operating Cash Flow Growth	19.58%	13.56%	29.93%	2.95%	55.26%	169.82%
Capital Expenditures	-829	-1,016	-895	-782	-762	-615
Sale of Property, Plant & Equipment	3.5	5	16	13	16	19
Purchases of Investments	-1,506	-	-	-	-	-
Other Investing Activities	636	649	126	1,521	-135	110
Investing Cash Flow	-2,036	-362	-753	-262	-791	-541
Long-Term Debt Issued	598	262	99	90	66	769
Long-Term Debt Repaid	-250	-500	-600	-19	-1,388	-739
Net Long-Term Debt Issued (Repaid)	348	-238	-501	71	-1,322	30
Repurchase of Common Stock	-	-30	-	-	-	-
Net Common Stock Issued (Repurchased)	-	-30	-	-	-	-
Common Dividends Paid	-343	-343	-177	-83	-80	-
Financing Cash Flow	-80.5	-611	-678	-12	-1,402	30
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-62	-87	39	-16	73	35
Net Cash Flow	-314	777	110	912	-1,041	231
Free Cash Flow	1,101	734	646	404	390	127
Free Cash Flow Growth	50.00%	13.62%	59.90%	3.59%	207.09%	-
FCF Margin	5.52%	3.57%	3.48%	2.53%	2.52%	0.86%
Free Cash Flow Per Share	1.91	1.27	1.12	0.70	0.68	0.22
Levered Free Cash Flow	110	469	126	-575	-1,271	-192
Unlevered Free Cash Flow	387.59	767.65	497.16	-518.75	-90.01	-194.5

Updated May 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.