Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (ETR:MUV2)
Germany · Delayed Price · Currency is EUR 518.80
+0.80 (0.15%)
Aug 31, 2026, 5:35 PM CET
ETR:MUV2 Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 | 6,870 | 6,118 | 5,704 | 4,606 | 5,313 | 2,933 |
Depreciation & Amortization | 122 | 78 | 64 | 61 | 2,718 | 352 |
Other Amortization | 174 | 174 | 174 | 139 | 134 | 154 |
Gain (Loss) on Sale of Assets | -17 | -100 | 24 | 13 | -7 | - |
Gain (Loss) on Sale of Investments | 60 | - | - | - | - | -2,716 |
Change in Accounts Receivable | -2,423 | -5,312 | 1,630 | 101 | -8,976 | - |
Reinsurance Recoverable | 463 | -379 | 268 | -92 | -225 | - |
Change in Insurance Reserves / Liabilities | - | - | - | - | - | 10,652 |
Change in Other Net Operating Assets | -3,167 | -1,609 | -1,038 | -2,020 | -7,021 | -3,481 |
Other Operating Activities | 952 | 412 | 76 | 310 | 673 | -1,179 |
Operating Cash Flow | 6,587 | 4,906 | 3,143 | 2,543 | 3,972 | 5,226 |
Operating Cash Flow Growth | 31.69% | 56.09% | 23.59% | -35.98% | -24.00% | -27.61% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Capital Expenditures | -143 | -164 | -167 | -148 | -140 | - |
Sale of Property, Plant & Equipment | 17 | 14 | 13 | 36 | 46 | - |
Purchase / Sale of Intangible Assets | -73 | -122 | -60 | -194 | -204 | - |
Cash Acquisitions | -1,515 | -1,392 | -340 | -48 | 14 | -133 |
Investment in Securities | - | - | - | - | - | -3,670 |
Other Investing Activities | -3 | 1 | 2 | 6 | -9 | 5 |
Investing Cash Flow | -1,696 | -1,457 | -505 | -329 | -270 | -3,818 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Long-Term Debt Issued | - | 1,242 | 1,487 | - | - | - |
Total Debt Repaid | -235 | -199 | -141 | -134 | -457 | - |
Net Debt Issued (Repaid) | 1,007 | 1,043 | 1,346 | -134 | -457 | - |
Repurchases of Common Stock | -1,942 | -1,878 | -1,437 | -1,041 | -605 | - |
Common Dividends Paid | -3,047 | -2,613 | -2,006 | -1,583 | -1,541 | -1,373 |
Other Financing Activities | -414 | -372 | -131 | -225 | -99 | -308 |
Financing Cash Flow | -4,396 | -3,820 | -2,228 | -2,983 | -2,702 | -1,681 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Foreign Exchange Rate Adjustments | 10 | -236 | 122 | -47 | 35 | 146 |
Miscellaneous Cash Flow Adjustments | -2 | -1 | 1 | -1 | - | - |
Net Cash Flow | 503 | -608 | 533 | -817 | 1,035 | -127 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Free Cash Flow | 6,444 | 4,742 | 2,976 | 2,395 | 3,832 | 5,226 |
Free Cash Flow Growth | 33.25% | 59.34% | 24.26% | -37.50% | -26.67% | -27.61% |
Free Cash Flow Margin | 10.47% | 7.61% | 4.89% | 4.14% | 6.80% | 8.23% |
Free Cash Flow Per Share | 50.39 | 36.55 | 22.39 | 17.61 | 27.50 | 37.30 |
Levered Free Cash Flow | 6,890 | 6,034 | 4,444 | 4,911 | -37,238 | 12,671 |
Unlevered Free Cash Flow | 7,057 | 6,189 | 4,573 | 5,016 | -37,058 | 12,891 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 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 |
Cash Interest Paid | 401 | 401 | 286 | 366 | 325 | 392 |
Cash Income Tax Paid | 1,056 | 1,056 | 864 | -51 | 604 | 1,094 |
Change in Working Capital | -3,395 | -3,663 | -5,782 | -5,297 | -9,861 | 5,682 |