H & M Hennes & Mauritz AB Cash Flow Statement

Financials in millions SEK. Fiscal year is December - November.

Millions SEK. Fiscal year is Dec - Nov.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Net Income	12,158	11,621	8,745	3,566	11,010
Depreciation & Amortization	20,426	19,479	20,097	19,454	20,871
Other Amortization	-	2,094	1,962	1,665	1,449
Asset Writedown & Restructuring Costs	714	679	896	1,460	-
Other Operating Activities	453	2,872	-2,594	188	-1,697
Change in Accounts Receivable	-3,082	-2,299	-594	-452	-736
Change in Inventory	3,785	-3,036	5,248	-3,734	1,263
Change in Other Net Operating Assets	-3,334	346	189	2,598	12,459
Operating Cash Flow	31,120	31,756	33,949	24,745	44,619
Operating Cash Flow Growth	-2.00%	-6.46%	37.20%	-44.54%	72.27%
Capital Expenditures	-9,240	-10,060	-7,986	-4,527	-2,727
Sale (Purchase) of Intangibles	-1,439	-1,388	-978	-1,484	-737
Investment in Securities	64	-126	-655	-1,071	-614
Investing Cash Flow	-10,615	-11,574	-9,619	-7,082	-4,078
Short-Term Debt Issued	353	-	-	680	-
Long-Term Debt Issued	6,945	-	6,312	-	5,127
Total Debt Issued	7,298	-	6,312	680	5,127
Short-Term Debt Repaid	-	-2,966	-408	-	-7,671
Long-Term Debt Repaid	-12,477	-12,879	-12,867	-12,139	-16,883
Total Debt Repaid	-12,477	-15,845	-13,275	-12,139	-24,554
Net Debt Issued (Repaid)	-5,179	-15,845	-6,963	-11,459	-19,427
Repurchase of Common Stock	-254	-2,928	-1,075	-3,000	-
Common Dividends Paid	-10,906	-10,456	-10,577	-10,687	-10,758
Other Financing Activities	31	24	-	-	-
Financing Cash Flow	-16,308	-29,205	-18,615	-25,146	-30,185
Foreign Exchange Rate Adjustments	-629	-35	-1,024	1,719	574
Net Cash Flow	3,568	-9,058	4,691	-5,764	10,930
Free Cash Flow	21,880	21,696	25,963	20,218	41,892
Free Cash Flow Growth	0.85%	-16.43%	28.42%	-51.74%	87.91%
Free Cash Flow Margin	9.59%	9.25%	11.00%	9.04%	21.05%
Free Cash Flow Per Share	13.64	13.46	15.94	12.25	25.31
Cash Interest Paid	671	760	399	243	380
Cash Income Tax Paid	3,890	1,717	5,565	3,499	4,974
Levered Free Cash Flow	20,031	16,417	22,064	18,521	38,750
Unlevered Free Cash Flow	21,689	18,138	23,404	19,218	39,473
Change in Working Capital	-2,631	-4,989	4,843	-1,588	12,986

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