Ryanair Holdings Cash Flow Statement

Financials in millions EUR. Fiscal year is April - March.

Millions EUR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	2,241	1,612	1,917	1,314	-240.8	-1,015
Depreciation & Amortization	1,309	1,214	1,060	923.2	719.4	571
Stock-Based Compensation	14.6	12.8	-3.9	16.2	8.6	3.6
Other Operating Activities	197	95.1	154.7	269.3	-326	-300.6
Change in Accounts Receivable	-53.8	2.9	-16.7	-16.2	-24.9	48.9
Change in Inventory	-0.5	1.6	-0.2	-1.7	-0.7	-0.3
Change in Accounts Payable	107.6	124.8	-46.4	31.2	284.6	-407.6
Change in Other Net Operating Assets	211.9	352.5	93.8	1,355	1,520	-1,348
Operating Cash Flow	4,027	3,416	3,158	3,891	1,941	-2,448
Operating Cash Flow Growth	35.70%	8.16%	-18.84%	100.52%	-	-
Capital Expenditures	-1,897	-1,553	-2,392	-1,915	-1,182	-294.7
Sale of Property, Plant & Equipment	-	-	-	4.9	110.5	112.1
Investment in Securities	-	137.7	818.4	-122.1	-468.6	741.7
Other Investing Activities	-8.1	-16.7	13.1	130.7	125.3	377.9
Investing Cash Flow	-1,905	-1,432	-1,560	-1,901	-1,414	937
Long-Term Debt Issued	-	-	-	-	1,192	2,229
Long-Term Debt Repaid	-	-86.4	-1,143	-1,086	-1,775	-1,027
Net Debt Issued (Repaid)	-1,225	-86.4	-1,143	-1,086	-583.3	1,202
Issuance of Common Stock	3.9	4.9	16.4	31.7	46.8	421
Repurchase of Common Stock	-728.5	-1,478	-	-	-	-
Common Dividends Paid	-481.1	-437.7	-199.5	-	-	-
Financing Cash Flow	-2,431	-1,997	-1,326	-1,054	-536.5	1,623
Foreign Exchange Rate Adjustments	-50.2	0.7	4.9	-5.5	28.7	-27.2
Net Cash Flow	-359.5	-12.1	276.1	930.3	18.3	84.3
Free Cash Flow	2,130	1,863	766	1,976	758.9	-2,743
Free Cash Flow Growth	50.39%	143.24%	-61.24%	160.42%	-	-
Free Cash Flow Margin	13.89%	13.36%	5.70%	18.34%	15.81%	-167.67%
Free Cash Flow Per Share	1.99	1.68	0.67	1.73	0.67	-2.47
Cash Interest Paid	58	69.7	88.7	75	86.6	59.2
Cash Income Tax Paid	100.6	84.9	49.1	4.1	-9.5	-87.1
Levered Free Cash Flow	1,589	1,230	-568.74	2,699	115.93	-3,213
Unlevered Free Cash Flow	1,630	1,272	-516.86	2,747	173.05	-3,169
Change in Working Capital	265.2	481.8	30.5	1,369	1,779	-1,707

Source: S&P Global Market Intelligence. Standard template. Financial Sources.