Compagnie Générale des Établissements Michelin Société en commandite par actions (EPA:ML)

EPA:ML Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	1,561	1,884	1,983	2,001	1,844	632
Depreciation & Amortization	2,093	2,085	2,008	1,944	1,812	1,840
Asset Writedown & Restructuring Costs	148	217	594	-72	-12	138
Loss (Gain) on Equity Investments	-43	40	-128	59	69	112
Other Operating Activities	183	41	-155	76	17	-56
Change in Accounts Receivable	-257	236	254	-746	-370	92
Change in Inventory	-63	-165	775	-1,055	-1,106	552
Change in Accounts Payable	-192	121	-276	9	647	-19
Change in Other Net Operating Assets	-48	-123	232	-285	5	75
Operating Cash Flow	3,382	4,336	5,287	1,931	2,906	3,366
Operating Cash Flow Growth	-34.85%	-17.99%	173.80%	-33.55%	-13.67%	1.35%
Capital Expenditures	-1,874	-1,904	-2,004	-1,919	-1,494	-1,195
Sale of Property, Plant & Equipment	45	35	47	33	38	46
Cash Acquisitions	-16	-7	-793	-124	-82	-75
Divestitures	16	5	142	65	-3	5
Sale (Purchase) of Intangibles	-269	-278	-232	-222	-211	-180
Investment in Securities	178	103	-72	105	-174	-74
Other Investing Activities	-5	-65	-18	117	175	85
Investing Cash Flow	-1,925	-2,111	-2,930	-1,945	-1,751	-1,388
Short-Term Debt Issued	-	-	-	-	-	731
Long-Term Debt Issued	-	1,002	23	67	44	2,439
Total Debt Issued	405	1,002	23	67	44	3,170
Short-Term Debt Repaid	-	-153	-1,134	-575	-90	-
Long-Term Debt Repaid	-	-294	-312	-436	-1,018	-1,320
Total Debt Repaid	-447	-447	-1,446	-1,011	-1,108	-1,320
Net Debt Issued (Repaid)	-42	555	-1,423	-944	-1,064	1,850
Issuance of Common Stock	60	37	-	76	-	55
Repurchase of Common Stock	-316	-502	-	-120	-	-99
Common Dividends Paid	-974	-961	-893	-803	-410	-357
Other Financing Activities	-113	77	-20	-69	41	-105
Financing Cash Flow	-1,385	-794	-2,336	-1,860	-1,433	1,344
Foreign Exchange Rate Adjustments	-36	-10	-90	-24	13	-41
Net Cash Flow	37	1,421	-69	-1,898	-265	3,281
Free Cash Flow	1,508	2,432	3,283	12	1,412	2,171
Free Cash Flow Growth	-57.23%	-25.92%	27258.33%	-99.15%	-34.96%	25.71%
Free Cash Flow Margin	5.64%	8.94%	11.58%	0.04%	5.93%	10.61%
Free Cash Flow Per Share	2.11	3.39	4.56	0.02	1.97	3.03
Cash Interest Paid	286	251	407	378	227	305
Cash Income Tax Paid	728	806	776	697	562	315
Levered Free Cash Flow	1,353	1,731	2,974	-487.25	1,467	2,349
Unlevered Free Cash Flow	1,505	1,862	3,157	-297.88	1,594	2,493
Change in Working Capital	-560	69	985	-2,077	-824	700

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.