Hensoldt AG Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	100	89	108	56	78	63
Depreciation & Amortization	135	130	114	78	82	110
Other Amortization	48	48	41	31	21	16
Loss (Gain) From Sale of Assets	-	-	1	-1	-	-1
Asset Writedown & Restructuring Costs	3	3	7	8	-	-
Loss (Gain) on Equity Investments	-3	-3	-3	-	-	2
Other Operating Activities	30	23	15	49	46	9
Change in Accounts Receivable	-127	-16	-11	-66	-13	-22
Change in Inventory	-192	-169	-103	-128	-75	-44
Change in Accounts Payable	66	44	69	78	110	107
Change in Other Net Operating Assets	438	301	73	162	-5	59
Operating Cash Flow	498	450	311	267	244	299
Operating Cash Flow Growth	69.97%	44.70%	16.48%	9.43%	-18.39%	51.85%
Capital Expenditures	-96	-70	-199	-45	-35	-29
Sale of Property, Plant & Equipment	-	1	2	1	-	3
Cash Acquisitions	-6	-6	-543	-1	-1	-12
Sale (Purchase) of Intangibles	-136	-136	-	-69	-60	-72
Sale (Purchase) of Real Estate	-	-	-	-1	-	-1
Investment in Securities	-27	-24	-4	-8	-5	-7
Other Investing Activities	4	2	-1	1	-	1
Investing Cash Flow	-261	-233	-745	-122	-101	-117
Long-Term Debt Issued	-	300	450	10	-	30
Long-Term Debt Repaid	-	-257	-33	-19	-188	-310
Net Debt Issued (Repaid)	53	43	417	-9	-188	-280
Issuance of Common Stock	-	-	-	241	-	-
Common Dividends Paid	-58	-58	-46	-32	-26	-14
Other Financing Activities	-5	-5	-4	-3	-	-3
Financing Cash Flow	-10	-20	367	197	-214	-297
Foreign Exchange Rate Adjustments	1	1	-3	-	2	-1
Miscellaneous Cash Flow Adjustments	1	2	1	-	-	-
Net Cash Flow	229	200	-69	342	-69	-116
Free Cash Flow	402	380	112	222	209	270
Free Cash Flow Growth	367.44%	239.29%	-49.55%	6.22%	-22.59%	62.85%
Free Cash Flow Margin	15.73%	15.48%	5.00%	12.02%	12.24%	18.32%
Free Cash Flow Per Share	3.44	3.28	0.97	2.09	1.99	2.57
Cash Interest Paid	66	69	66	44	26	36
Cash Income Tax Paid	24	31	18	27	-38	9
Levered Free Cash Flow	265.5	241.63	110.88	132	104.25	146.5
Unlevered Free Cash Flow	333.63	307.88	173.38	183.25	131.75	172.75
Change in Working Capital	185	160	28	46	17	100

Source: S&P Global Market Intelligence. Standard template. Financial Sources.