DWS Group GmbH & Co. KGaA 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	928	652	553	595	782
Depreciation & Amortization	55	48	42	123	85
Stock-Based Compensation	-	-	-	0	2
Other Adjustments	-92	-116	-58	-12	-209
Changes in Trading Assets	-120	-433	-340	141	-219
Changes in Trading Liabilities	15	-30	15	-93	36
Changes in Other Operating Activities	-241	583	316	-234	308
Operating Cash Flow	546	705	528	522	783
Operating Cash Flow Growth	-22.55%	33.52%	1.15%	-33.33%	104.44%
Capital Expenditures	-4	0	-7	-1	-9
Sale of Property, Plant & Equipment	0	1	0	1	9
Purchases of Intangible Assets	-16	-30	-67	-39	-35
Purchases of Investments	-1,856	-3,108	-3,990	-2,213	-2,204
Proceeds from Sale of Investments	1,425	3,630	3,428	1,869	1,737
Other Investing Activities	32	39	26	44	73
Investing Cash Flow	-419	530	-609	-340	-430
Long-Term Debt Issued	-	-	-	0	1
Long-Term Debt Repaid	-5	0	-14	-53	0
Net Long-Term Debt Issued (Repaid)	-5	0	-14	-53	1
Common Dividends Paid	-440	-1,220	-410	-400	-362
Other Financing Activities	-20	-27	-23	-14	-25
Financing Cash Flow	-466	-1,246	-447	-468	-386
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-34	11	-1	26	28
Net Cash Flow	-373	0	-529	-259	-5
Free Cash Flow	542	705	521	521	774
Free Cash Flow Growth	-23.12%	35.32%	-	-32.69%	107.51%
FCF Margin	17.18%	25.50%	19.93%	19.21%	28.46%
Free Cash Flow Per Share	2.71	3.52	2.60	2.60	3.87
Levered Free Cash Flow	627	817	564	477	982
Unlevered Free Cash Flow	-362.99	-110.78	-312.06	-342.26	88.67