On Holding AG Cash Flow Statement

Financials in millions CHF. Fiscal year is January - December.

Millions CHF. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	224.2	242.3	79.6	57.7	-170.2	-27.5
Depreciation & Amortization	115.6	98.6	59.4	41.2	26.5	12.1
Other Amortization	6	6	5.5	5.2	4.9	-
Loss (Gain) From Sale of Assets	1.2	0.7	0.6	0.9	-	-
Stock-Based Compensation	64.8	57.5	27.3	38.3	192.4	48.6
Other Operating Activities	78.7	-36.3	67.5	-16.9	29.7	7.8
Change in Accounts Receivable	-42.1	-30.1	-46.9	-78.6	-47	-13.5
Change in Inventory	-82.5	-27.8	-10	-273	-31.8	-61.3
Change in Accounts Payable	27.4	104	-44.3	65.8	4.3	25.6
Change in Other Net Operating Assets	21.9	95.7	93.4	-67.6	8.1	-6.5
Operating Cash Flow	415.2	510.6	232.1	-227	16.9	-14.7
Operating Cash Flow Growth	-10.36%	119.99%	-	-	-	-
Capital Expenditures	-65.2	-60.5	-42.8	-60.3	-24.6	-11
Sale of Property, Plant & Equipment	0.1	0.1	-	-	-	-
Cash Acquisitions	-	-	-	-	-0.2	-
Sale (Purchase) of Intangibles	-4.6	-4.5	-4.4	-22.7	-11.6	-7.6
Other Investing Activities	-	-	0.1	0.1	-	-
Investing Cash Flow	-69.7	-64.9	-47.1	-82.9	-36.4	-18.6
Long-Term Debt Repaid	-	-51.3	-25.5	-15.4	-13.3	-6.4
Net Debt Issued (Repaid)	-65.2	-51.3	-25.5	-15.4	-13.3	-6.4
Issuance of Common Stock	10.9	11.1	10.1	26.4	618.8	133.3
Other Financing Activities	-19.6	-15.2	-6.4	-4.7	-9.6	-2.1
Financing Cash Flow	-73.9	-55.4	-21.8	6.3	595.9	124.8
Foreign Exchange Rate Adjustments	-58.7	39.4	-39.6	21.5	-13.9	-1
Miscellaneous Cash Flow Adjustments	-0.1	-	-	-	-	-
Net Cash Flow	212.8	429.7	123.6	-282.1	562.5	90.5
Free Cash Flow	350	450.1	189.3	-287.3	-7.7	-25.7
Free Cash Flow Growth	-13.67%	137.77%	-	-	-	-
Free Cash Flow Margin	12.17%	19.41%	10.56%	-23.51%	-1.06%	-6.04%
Free Cash Flow Per Share	1.05	1.37	0.59	-0.90	-0.03	-0.10
Cash Interest Paid	19.6	15.3	6.5	4.7	2.8	0.6
Cash Income Tax Paid	70.2	41.2	28.6	31	4.4	5.2
Levered Free Cash Flow	379.94	415.01	218.91	-284.5	107.56	-8.65
Unlevered Free Cash Flow	392.38	424.58	222.98	-281.88	109.06	-8.46
Change in Working Capital	-75.3	141.8	-7.8	-353.4	-66.4	-55.7

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