Vestas Wind Systems A/S (CPH:VWS)
Denmark · Delayed Price · Currency is DKK 174.55
-1.80 (-1.02%)
Jul 31, 2026, 4:59 PM CET
Vestas Wind Systems Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 | 845 | 780 | 494 | 78 | -1,572 | 143 |
Other Adjustments | 669 | 926 | 1,083 | 916 | 1,569 | 804 |
Changes in Other Operating Activities | 382 | 580 | 755 | 33 | -192 | 9 |
Operating Cash Flow | 1,969 | 2,286 | 2,332 | 1,027 | -195 | 956 |
Operating Cash Flow Growth | -36.79% | -1.97% | 127.07% | - | - | 28.67% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 | -760 | -821 | -670 | -456 | -371 | -476 |
Sale of Property, Plant & Equipment | 2 | 2 | 13 | 55 | 48 | 3 |
Purchases of Intangible Assets | -409 | -457 | -485 | -436 | -448 | -360 |
Proceeds from Sale of Intangible Assets | - | - | - | 2 | - | - |
Purchases of Investments | 51 | 87 | -267 | -40 | 79 | -221 |
Proceeds from Sale of Investments | -13 | 19 | 68 | 101 | 13 | 60 |
Cash Acquisitions | - | -19 | - | -8 | - | -4 |
Proceeds from Business Divestments | - | - | - | - | - | 99 |
Other Investing Activities | - | 25 | - | - | - | - |
Investing Cash Flow | -1,036 | -1,164 | -1,341 | -782 | -679 | -899 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 | 590 | 150 | 84 | 1,137 | 1,756 | 642 |
Long-Term Debt Repaid | -128 | -122 | -345 | -221 | -713 | -960 |
Net Long-Term Debt Issued (Repaid) | 462 | 28 | -261 | 916 | 1,043 | -318 |
Repurchase of Common Stock | -275 | -282 | -40 | -11 | - | -12 |
Net Common Stock Issued (Repurchased) | -275 | -282 | -40 | -11 | - | -12 |
Common Dividends Paid | -74 | -74 | - | - | -50 | -228 |
Other Financing Activities | -235 | -216 | -177 | -162 | -147 | -157 |
Financing Cash Flow | -122 | -544 | -478 | 743 | 846 | -715 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 | -4 | -11 | -14 | -48 | -14 | 15 |
Net Cash Flow | 811 | 578 | 513 | 988 | -28 | -658 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 | 1,209 | 1,465 | 1,662 | 571 | -566 | 480 |
Free Cash Flow Growth | -48.99% | -11.85% | 191.07% | - | - | 31.87% |
FCF Margin | 6.26% | 7.78% | 9.61% | 3.71% | -3.91% | 3.08% |
Free Cash Flow Per Share | 1.19 | 1.46 | 1.65 | 0.57 | -0.56 | 0.48 |
Levered Free Cash Flow | 939 | 565 | 323 | 570 | -1,092 | -651 |
Unlevered Free Cash Flow | 439.18 | 520.98 | 641.36 | -199.71 | -2,042 | -282.5 |