EPA:EL 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	2,443	2,491	2,426	2,281	1,598
Depreciation & Amortization	3,113	3,098	2,972	2,970	2,480
Stock-Based Compensation	280	162	195	191	160
Other Adjustments	685	800	612	687	558
Changes in Income Taxes Payable	-764	-982	-916	-940	-618
Changes in Other Operating Activities	-468	-697	-427	-407	367
Operating Cash Flow	5,291	4,874	4,861	4,783	4,545
Operating Cash Flow Growth	8.56%	0.27%	1.63%	5.24%	53.91%
Capital Expenditures	-1,525	-1,522	-1,531	-1,572	-1,030
Sale of Property, Plant & Equipment	12	10	11	17	16
Payments for Business Acquisitions	-911	-1,755	-114	-965	-7,078
Other Investing Activities	-130	-356	-89	-101	33
Investing Cash Flow	-2,553	-3,622	-1,724	-2,619	-8,060
Long-Term Debt Issued	2,495	2,383	438	-507	75
Long-Term Debt Repaid	-2,470	-2,240	-1,964	-1,410	-1,522
Net Long-Term Debt Issued (Repaid)	25	143	-1,526	-1,917	-1,447
Issuance of Common Stock	-340	-239	-237	-394	-283
Net Common Stock Issued (Repurchased)	-340	-239	-237	-394	-283
Common Dividends Paid	-547	-1,163	-487	-454	-138
Other Financing Activities	-190	-389	-175	-814	-172
Financing Cash Flow	-1,054	-1,647	-2,425	-3,580	-2,040
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-391	88	-114	83	166
Net Cash Flow	1,684	-395	712	-1,417	-5,555
Free Cash Flow	3,766	3,352	3,330	3,211	3,515
Free Cash Flow Growth	12.35%	0.66%	3.71%	-8.65%	52.63%
FCF Margin	13.22%	12.65%	13.11%	13.11%	17.73%
Free Cash Flow Per Share	8.10	7.29	7.39	7.21	7.89
Levered Free Cash Flow	2,696	2,399	861	286	1,200
Unlevered Free Cash Flow	2,940	2,507	2,637	2,426	2,890

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