Pandora A/S (CPH:PNDORA)
Denmark · Delayed Price · Currency is DKK 919.80
+90.40 (10.90%)
Nov 4, 2026, 5:00 PM CET
Pandora 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 | Sep '26 Sep 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 | 5,181 | 5,241 | 5,227 | 4,740 | 5,029 | 4,160 |
Depreciation & Amortization | 2,782 | 2,586 | 2,353 | 2,079 | 1,973 | 1,914 |
Asset Writedown & Restructuring Costs | - | - | - | - | - | 85 |
Stock-Based Compensation | 13 | 103 | 166 | 105 | 87 | 166 |
Other Operating Activities | -20 | -139 | 63 | -260 | -553 | 452 |
Change in Accounts Receivable | -51 | -424 | 106 | 56 | -531 | -77 |
Change in Inventory | -1,755 | -565 | -126 | 210 | -1,012 | -799 |
Change in Accounts Payable | 1,081 | 559 | 932 | 454 | -559 | 327 |
Operating Cash Flow | 7,231 | 7,361 | 8,721 | 7,384 | 4,434 | 6,228 |
Operating Cash Flow Growth | -7.10% | -15.60% | 18.11% | 66.53% | -28.80% | 4.23% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 | -1,431 | -1,449 | -1,336 | -1,129 | -838 | -296 |
Sale of Property, Plant & Equipment | 5 | 7 | 14 | - | 5 | 2 |
Cash Acquisitions | -15 | -373 | -194 | -349 | -562 | -66 |
Sale (Purchase) of Intangibles | -453 | -462 | -343 | -359 | -353 | -289 |
Other Investing Activities | -27 | -9 | -30 | 37 | -37 | 18 |
Investing Cash Flow | -1,921 | -2,286 | -1,889 | -1,800 | -1,785 | -631 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 | - | 1,200 | 3,674 | 5,927 | 4,994 | 1,315 |
Long-Term Debt Repaid | - | -1,368 | -3,891 | -4,428 | -3,053 | -3,995 |
Lease Payments | -1,358 | -1,260 | -1,162 | -1,107 | -1,068 | -991 |
Net Debt Issued (Repaid) | -2,458 | -168 | -217 | 1,499 | 1,941 | -2,680 |
Repurchase of Common Stock | -955 | -4,384 | -4,013 | -5,022 | -3,527 | -3,325 |
Common Dividends Paid | -1,646 | -1,567 | -1,471 | -1,412 | -1,514 | - |
Other Financing Activities | 1 | - | - | - | - | - |
Financing Cash Flow | -5,058 | -6,119 | -5,701 | -4,935 | -3,100 | -7,484 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 | 5 | -65 | -11 | -61 | 4 | 18 |
Miscellaneous Cash Flow Adjustments | - | - | - | - | -1 | - |
Net Cash Flow | 257 | -1,109 | 1,120 | 588 | -448 | -1,869 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 | 5,800 | 5,912 | 7,385 | 6,255 | 3,596 | 5,932 |
Free Cash Flow Growth | -8.75% | -19.95% | 18.07% | 73.94% | -39.38% | 5.91% |
Free Cash Flow Margin | 17.64% | 18.16% | 23.31% | 22.23% | 13.59% | 25.36% |
Free Cash Flow Per Share | 77.33 | 76.59 | 91.27 | 72.67 | 38.38 | 59.51 |
Levered Free Cash Flow | 5,297 | 3,116 | 6,570 | 4,928 | 2,566 | 5,432 |
Unlevered Free Cash Flow | 5,926 | 3,645 | 7,071 | 5,331 | 2,729 | 5,515 |
Free Cash Flow After Leases | 4,442 | 4,652 | 6,223 | 5,148 | 2,528 | 4,941 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 | 1,168 | 1,009 | 922 | 683 | 466 | 468 |
Cash Income Tax Paid | 1,909 | 1,881 | 1,738 | 1,832 | 1,790 | 832 |
Change in Working Capital | -725 | -430 | 912 | 720 | -2,102 | -549 |