Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (ETR:MUV2)
Germany · Delayed Price · Currency is EUR 514.60
-2.60 (-0.50%)
Aug 11, 2026, 5:38 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 | 6,868 | 6,121 | 5,690 | 4,597 | 5,309 | 2,932 |
Depreciation & Amortization | 464 | 359 | 375 | 317 | 2,873 | - |
Other Adjustments | -686 | 2,417 | -5,522 | -2,330 | 9,118 | -4,579 |
Changes in Reinsurance Contract Assets | 463 | -379 | 268 | -92 | -225 | - |
Changes in Deferred Acquisition Costs | - | - | - | - | - | -729 |
Changes in Accrued Expenses | 417 | 249 | 19 | -59 | -1,236 | - |
Changes in Claims Reserves | -2,423 | -5,312 | 1,630 | 101 | -8,976 | 11,409 |
Changes in Other Operating Activities | 1,485 | 1,450 | 683 | 11 | -2,891 | -4,238 |
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 | - |
Purchases of Intangible Assets | -76 | -136 | -149 | -198 | -209 | - |
Proceeds from Sale of Intangible Assets | 3 | 14 | 89 | 4 | 5 | - |
Cash Acquisitions | -111 | -1,392 | -340 | -48 | 14 | -133 |
Proceeds from Business Divestments | 1 | 206 | 47 | 19 | 23 | -20 |
Other Investing Activities | -1 | 1 | 1 | 5 | -8 | - |
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 | 1,242 | 1,487 | 0 | 0 | - |
Long-Term Debt Repaid | -235 | -199 | -141 | -134 | -457 | - |
Net Long-Term Debt Issued (Repaid) | 1,007 | 1,043 | 1,346 | -134 | -457 | - |
Repurchase of Common Stock | -1,942 | -1,878 | -1,437 | -1,041 | -605 | - |
Net Common Stock Issued (Repurchased) | -1,942 | -1,878 | -1,437 | -1,041 | -605 | 0 |
Common Dividends Paid | -3,047 | -2,613 | -2,006 | -1,583 | -1,549 | -1,378 |
Other Financing Activities | -416 | -373 | -130 | -225 | -92 | -303 |
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 |
Net Cash Flow | 506 | -607 | 532 | -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% |
FCF Margin | 9.55% | 6.90% | 4.44% | 3.78% | 6.33% | 7.55% |
Free Cash Flow Per Share | 50.43 | 36.55 | 22.40 | 17.61 | 27.50 | 37.30 |
Levered Free Cash Flow | 10,563 | 8,676 | 8,228 | 4,501 | 3,237 | -2,034 |
Unlevered Free Cash Flow | 10,200 | 7,812 | 7,020 | 4,767 | 3,833 | -2,053 |