Bavarian Nordic A/S (CPH:BAVA)
Denmark · Delayed Price · Currency is DKK 213.40
+0.20 (0.09%)
Aug 28, 2026, 4:59 PM CET
Bavarian Nordic Cash Flow Statement
Financials in millions DKK. Fiscal year is January - December.
Millions DKK. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | 1,543 | 1,375 | 987.98 | 1,475 | -347.38 | -464.78 |
Depreciation & Amortization | 663.43 | 646.66 | 583.02 | 541.09 | 384.16 | 368.75 |
Other Amortization | 49.29 | 49.29 | 39.36 | 12.03 | 13.91 | 13.68 |
Loss (Gain) From Sale of Assets | 18.43 | 18.43 | 2.53 | 0.7 | 1.18 | 5.26 |
Asset Writedown & Restructuring Costs | 23.76 | 23.76 | 38.48 | 557.68 | - | 0.62 |
Loss (Gain) From Sale of Investments | 5.73 | 6.93 | -7.83 | -41.91 | 208.08 | 39.06 |
Stock-Based Compensation | 92.05 | 84.49 | 78.67 | 55.48 | 49.28 | 56.86 |
Other Operating Activities | 320.66 | 379.46 | 50.73 | 69.9 | 59.62 | 91.41 |
Change in Accounts Receivable | -875.94 | 104.68 | 617.86 | -1,345 | -133.17 | -364.39 |
Change in Inventory | -35.32 | -186.61 | -683.57 | -599.02 | -439.03 | 41.04 |
Change in Other Net Operating Assets | -366.52 | 219.45 | 242.62 | 393.48 | 423.41 | -146.01 |
Operating Cash Flow | 1,438 | 2,722 | 1,950 | 1,119 | 220.05 | -358.5 |
Operating Cash Flow Growth | -18.59% | 39.60% | 74.22% | 408.61% | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -199.45 | -205.29 | -82.66 | -142.53 | -361.24 | -483.13 |
Cash Acquisitions | - | - | - | -1,832 | - | - |
Sale (Purchase) of Intangibles | -99.07 | -1,154 | -1,605 | -834.88 | -1,020 | -575.32 |
Investment in Securities | -1,145 | -1,074 | -153.46 | 1,902 | 673.63 | -1,779 |
Other Investing Activities | -33.07 | -51.17 | -29.77 | -38.71 | -169.46 | -39.04 |
Investing Cash Flow | -1,477 | -2,485 | -1,871 | -945.56 | -877.41 | -2,877 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Long-Term Debt Issued | - | - | - | 240 | 1,004 | 660 |
Long-Term Debt Repaid | - | -42.9 | -43.56 | -1,140 | -396.32 | -21.68 |
Net Debt Issued (Repaid) | -37.01 | -42.9 | -43.56 | -899.82 | 607.34 | 638.32 |
Issuance of Common Stock | 78.67 | 78.67 | 126.79 | 1,687 | 37.92 | 2,964 |
Repurchase of Common Stock | -446.89 | -150.12 | -27.46 | -8.99 | -9.33 | -8.58 |
Other Financing Activities | - | - | - | -42.8 | -0.11 | -57.44 |
Financing Cash Flow | -405.24 | -114.36 | 55.78 | 735.83 | 635.82 | 3,536 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -0 | -31.67 | 11.51 | -7.65 | 5.12 | 5.7 |
Net Cash Flow | -443.97 | 91.01 | 146.26 | 901.83 | -16.41 | 306.33 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | 1,239 | 2,517 | 1,867 | 976.68 | -141.19 | -841.63 |
Free Cash Flow Growth | -26.02% | 34.78% | 91.17% | - | - | - |
Free Cash Flow Margin | 19.55% | 40.30% | 32.66% | 13.83% | -4.48% | -44.35% |
Free Cash Flow Per Share | 15.61 | 32.25 | 23.91 | 12.73 | -2.00 | -13.34 |
Levered Free Cash Flow | 109.42 | -931.27 | -391.1 | 653.91 | -1,454 | -1,068 |
Unlevered Free Cash Flow | 114.75 | -927.41 | -387.85 | 656.13 | -1,444 | -1,056 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Cash Interest Paid | 113.25 | 16.7 | 32.19 | 52.41 | 24.24 | 24.38 |
Cash Income Tax Paid | 94.16 | 111.72 | 17.86 | 10.2 | 3.21 | 2.57 |
Change in Working Capital | -1,278 | 137.52 | 176.91 | -1,551 | -148.79 | -469.36 |