The North West Company Cash Flow Statement

Financials in millions CAD. Fiscal year is February - January.

Millions CAD. Fiscal year is Feb - Jan.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '25 Oct 31, 2025	Jan '25 Jan 31, 2025	Jan '24 Jan 31, 2024	Jan '23 Jan 31, 2023	Jan '22 Jan 31, 2022	Jan '21 Jan 31, 2021
Net Income	143.1	137.3	129.39	122.19	154.8	139.87
Depreciation & Amortization	111.17	107.23	96.19	90.2	83.59	83.49
Other Amortization	8.39	8.39	9.09	8.17	7.36	8.59
Loss (Gain) From Sale of Assets	-0.18	0.29	1.5	-0.05	0.05	-24
Asset Writedown & Restructuring Costs	-	-	-	-	-	9.41
Stock-Based Compensation	-1.4	-1.82	-3.21	2.45	0.05	5.02
Other Operating Activities	13.13	23.52	20.7	10.78	-19.16	57.37
Change in Other Net Operating Assets	-7.35	-14.28	-23.23	-50.91	-2.56	58.98
Operating Cash Flow	260.94	260.63	230.43	182.84	224.14	338.72
Operating Cash Flow Growth	7.46%	13.11%	26.03%	-18.43%	-33.83%	110.23%
Capital Expenditures	-133.75	-140.05	-131.56	-112.47	-86.28	-70.55
Sale of Property, Plant & Equipment	1.28	0.35	0.71	0.51	0.09	3.04
Sale (Purchase) of Intangibles	-11.07	-6.14	-9.21	-4.53	-6.73	-4.36
Sale (Purchase) of Real Estate	-0.16	-0.16	-1.29	-0.11	-1.06	-0.34
Other Investing Activities	-	15	33.65	9.8	18.12	5.31
Investing Cash Flow	-143.7	-131	-107.7	-106.8	-75.86	-66.9
Long-Term Debt Issued	-	6.55	-	49.44	44.07	94.81
Long-Term Debt Repaid	-	-24.66	-29.83	-22.35	-103.4	-233.93
Net Debt Issued (Repaid)	7.71	-18.12	-29.83	27.09	-59.33	-139.12
Issuance of Common Stock	-	0.07	1.97	1.9	0.85	0.91
Repurchase of Common Stock	-9.48	-	-5	-7.82	-28.06	-6.01
Common Dividends Paid	-77.05	-75.53	-73.53	-71.81	-70.42	-67.28
Other Financing Activities	-22.65	-25.48	-21.88	-17.66	-13.23	-15.56
Financing Cash Flow	-101.47	-119.05	-128.27	-68.3	-170.2	-227.06
Foreign Exchange Rate Adjustments	0.27	3.45	0.09	1.65	-0.19	-1.41
Net Cash Flow	16.05	14.03	-5.45	9.38	-22.11	43.35
Free Cash Flow	127.19	120.57	98.87	70.37	137.85	268.17
Free Cash Flow Growth	30.43%	21.95%	40.50%	-48.95%	-48.59%	430.78%
Free Cash Flow Margin	4.90%	4.68%	4.00%	2.99%	6.13%	11.37%
Free Cash Flow Per Share	2.61	2.48	2.04	1.45	2.81	5.42
Cash Interest Paid	18.28	19.4	19.28	15.14	13.23	13.35
Cash Income Tax Paid	55.26	49.19	43.07	46.96	63.57	14.89
Levered Free Cash Flow	95.46	92.89	55.98	35.34	121.35	240.68
Unlevered Free Cash Flow	106.31	104.18	67.55	44.17	128.87	250.52
Change in Working Capital	-13.26	-14.28	-23.23	-50.91	-2.56	58.98

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