Air Liquide Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	3,518	3,306	3,078	2,759	2,572
Depreciation & Amortization	2,564	2,505	2,482	2,466	2,173
Other Adjustments	773.7	728.1	797.3	1,031	547.4
Changes in Other Operating Activities	-336.7	-217.1	-94.3	-445.1	278.6
Operating Cash Flow	6,518	6,322	6,263	5,810	5,571
Operating Cash Flow Growth	3.10%	0.95%	7.80%	4.30%	12.94%
Capital Expenditures	-3,843	-3,525	-3,393	-3,273	-2,917
Sale of Property, Plant & Equipment	154.5	80.1	63.2	92	88.7
Purchases of Investments	-254	-269	-103	-135.8	-659.8
Proceeds from Business Divestments	177.8	113	339.7	61.1	130.9
Other Investing Activities	14.1	17.6	14.5	13.8	5.5
Investing Cash Flow	-3,751	-3,583	-3,079	-3,242	-3,352
Long-Term Debt Issued	2,060	-266.8	-1,216	-617.7	-17.2
Net Long-Term Debt Issued (Repaid)	2,060	-266.8	-1,216	-617.7	-17.2
Issuance of Common Stock	139.5	34.4	128.8	37.7	175.4
Repurchase of Common Stock	-4	-230.8	-81.9	-191.5	-40.1
Net Common Stock Issued (Repurchased)	135.5	-196.4	46.9	-153.8	135.3
Common Dividends Paid	-1,955	-1,718	-1,581	-1,411	-1,335
Other Financing Activities	-585.6	-626.3	-729.8	-599	-599
Financing Cash Flow	-344.7	-2,808	-3,480	-2,781	-1,816
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-47.2	-32.4	-61.6	-165.2	16.8
Net Cash Flow	2,376	-101.2	-357.3	-378	420.3
Free Cash Flow	2,675	2,797	2,870	2,537	2,654
Free Cash Flow Growth	-4.37%	-2.53%	13.11%	-4.40%	15.28%
FCF Margin	9.93%	10.34%	10.39%	8.48%	11.37%
Free Cash Flow Per Share	4.64	4.85	4.98	4.40	4.61
Levered Free Cash Flow	3,962	1,802	856.7	888.9	2,089
Unlevered Free Cash Flow	2,330	2,521	2,498	1,938	2,527

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.