Mercedes-Benz Group AG 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	4,620	9,695	14,463	15,295	24,963
Depreciation & Amortization	7,223	6,772	6,663	6,521	6,980
Other Adjustments	-1,139	-1,344	-2,461	-2,286	-12,198
Change in Receivables	895	-1,199	1,310	1,029	120
Changes in Inventories	724	737	-2,420	-4,111	-2,561
Changes in Accounts Payable	-	-	-	-	1,574
Changes in Other Operating Activities	5,683	3,074	-3,085	446	5,671
Operating Cash Flow	18,006	17,735	14,470	16,894	24,549
Operating Cash Flow Growth	1.53%	22.56%	-14.35%	-31.18%	9.93%
Capital Expenditures	-5,482	-4,039	-3,745	-3,481	-4,579
Sale of Property, Plant & Equipment	191	188	285	469	826
Purchases of Intangible Assets	-4,260	-4,626	-4,468	-3,418	-2,741
Purchases of Investments	-12,303	-6,785	-4,714	-2,622	-5,694
Proceeds from Sale of Investments	12,557	6,160	5,021	3,084	4,385
Payments for Business Acquisitions	-304	-363	-334	-849	6,280
Proceeds from Business Divestments	413	716	612	3,337	793
Other Investing Activities	-12	-1	28	27	-5,496
Investing Cash Flow	-9,200	-8,750	-7,315	-3,453	-6,226
Short-Term Debt Issued	-3,558	-3,171	-512	172	1,463
Net Short-Term Debt Issued (Repaid)	-3,558	-3,171	-512	172	1,463
Long-Term Debt Issued	28,598	38,338	39,288	38,429	42,196
Long-Term Debt Repaid	-30,970	-35,355	-39,473	-51,945	-60,859
Net Long-Term Debt Issued (Repaid)	-2,372	2,983	-185	-13,516	-18,663
Issuance of Common Stock	-	-	-	-	36
Repurchase of Common Stock	-360	-4,921	-1,941	-48	-48
Net Common Stock Issued (Repurchased)	-360	-4,921	-1,941	-48	-12
Common Dividends Paid	-4,140	-5,486	-5,556	-5,349	-1,444
Other Financing Activities	-23	-157	-197	-320	-403
Financing Cash Flow	-10,453	-10,752	-8,391	-19,032	-19,059
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-593	311	-471	88	870
Net Cash Flow	-2,240	-1,456	-1,707	-5,503	134
Free Cash Flow	12,524	13,696	10,725	13,413	19,970
Free Cash Flow Growth	-8.56%	27.70%	-20.04%	-32.83%	20.37%
FCF Margin	9.47%	9.41%	7.04%	8.94%	14.91%
Free Cash Flow Per Share	13.01	13.67	10.12	12.54	18.67
Levered Free Cash Flow	7,359	16,563	10,977	532	12,891
Unlevered Free Cash Flow	13,085	16,550	11,637	14,296	18,287

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