Thales 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	1,640	1,344	1,003	1,131	1,134
Depreciation & Amortization	1,087	1,155	1,045	1,059	1,063
Other Adjustments	638.3	675.3	656.3	299.7	146.8
Changes in Other Operating Activities	-44.1	-428.7	-1,193	535.9	362.9
Operating Cash Flow	3,322	2,638	1,596	2,995	2,707
Operating Cash Flow Growth	25.93%	65.23%	-46.69%	10.64%	134.26%
Capital Expenditures	-1,503	-1,240	-1,247	-534.6	-450.8
Sale of Property, Plant & Equipment	10.4	6.3	4.1	9.2	4.9
Payments for Business Acquisitions	-9.2	-1,169	-3,535	-417.8	-54.7
Proceeds from Business Divestments	-76.9	1,520	109	28.9	2.2
Other Investing Activities	-77.4	237.8	-99.4	-217.2	5
Investing Cash Flow	-909.8	-62.8	-4,233	-1,171	-493.4
Long-Term Debt Issued	51.1	158.2	3,655	90.7	51.1
Long-Term Debt Repaid	-1,879	-1,155	-908.7	-786.9	-1,763
Net Long-Term Debt Issued (Repaid)	-1,828	-996.9	2,746	-696.2	-1,712
Repurchase of Common Stock	-45.2	-275.4	-491	-350.7	-26.7
Net Common Stock Issued (Repurchased)	-45.2	-275.4	-491	-350.7	-26.7
Common Dividends Paid	-780.7	-708.4	-633.7	-563.4	-417
Other Financing Activities	-2.2	-14.3	-49.3	-41.7	-13.5
Financing Cash Flow	-2,656	-2,002	1,591	-1,749	-2,169
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-76.5	-12.9	-43.7	4.5	41.8
Net Cash Flow	-320.6	559.8	-1,089	80	86
Free Cash Flow	1,819	1,398	349.3	2,460	2,256
Free Cash Flow Growth	30.11%	300.20%	-85.80%	9.06%	190.71%
FCF Margin	8.22%	6.79%	1.90%	14.00%	13.93%
Free Cash Flow Per Share	8.83	6.79	1.67	11.59	10.59
Levered Free Cash Flow	-613.3	-90.6	2,375	1,485	351.6
Unlevered Free Cash Flow	1,221	829.37	-166.28	2,180	1,973

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