ETR:MOH 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	10,878	12,550	15,174	14,084	12,036
Depreciation & Amortization	8,001	6,038	5,521	5,234	4,742
Other Amortization	-	511	454	425	372
Asset Writedown & Restructuring Costs	-	42	-15	9	-
Loss (Gain) on Equity Investments	13	29	42	26	41
Other Operating Activities	558	1,679	1,801	1,074	1,031
Change in Accounts Receivable	-	137	-695	-394	-613
Change in Inventory	-	-1,114	-4,230	-4,169	-1,567
Change in Accounts Payable	-	-664	434	1,532	1,576
Change in Unearned Revenue	-	106	24	6	27
Change in Other Net Operating Assets	-576	-390	-110	6	1,003
Operating Cash Flow	18,874	18,924	18,400	17,833	18,648
Operating Cash Flow Growth	-0.26%	2.85%	3.18%	-4.37%	71.13%
Capital Expenditures	-4,567	-4,715	-6,807	-4,397	-2,675
Sale of Property, Plant & Equipment	-	21	136	73	444
Cash Acquisitions	149	-438	-721	-809	-13,226
Sale (Purchase) of Intangibles	-	-837	-1,000	-685	-580
Investment in Securities	-243	-579	-116	-149	-99
Other Investing Activities	21	9	198	47	157
Investing Cash Flow	-4,640	-6,539	-8,310	-5,920	-15,979
Long-Term Debt Issued	2,095	3,595	5,990	3,774	251
Long-Term Debt Repaid	-7,202	-6,591	-6,786	-6,642	-8,866
Net Debt Issued (Repaid)	-5,107	-2,996	-796	-2,868	-8,615
Issuance of Common Stock	-	53	-	-	-
Repurchase of Common Stock	-	-312	-1,584	-1,616	-556
Common Dividends Paid	-7,123	-6,492	-6,251	-6,024	-3,527
Other Financing Activities	-2,666	-969	-766	-2,177	-2,458
Financing Cash Flow	-14,896	-10,716	-9,397	-12,685	-15,156
Foreign Exchange Rate Adjustments	-248	80	-273	55	498
Net Cash Flow	-910	1,749	420	-717	-11,989
Free Cash Flow	14,307	14,209	11,593	13,436	15,973
Free Cash Flow Growth	0.69%	22.56%	-13.72%	-15.88%	79.19%
Free Cash Flow Margin	17.71%	16.78%	13.46%	16.97%	24.87%
Free Cash Flow Per Share	28.73	28.44	23.17	26.74	31.70
Cash Interest Paid	-	483	356	240	231
Cash Income Tax Paid	-	5,790	6,106	5,933	4,464
Levered Free Cash Flow	8,633	11,388	8,422	10,468	12,763
Unlevered Free Cash Flow	8,979	12,129	9,030	10,707	12,914
Change in Working Capital	-576	-1,925	-4,577	-3,019	426

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