Keisei Electric Railway Cash Flow Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	100,749	121,940	32,858	-2,890	-32,335
Depreciation & Amortization	32,600	33,352	31,616	30,483	30,240
Loss (Gain) From Sale of Assets	5,477	3,169	3,468	2,488	998
Loss (Gain) From Sale of Investments	-54,038	-70,853	-231	-457	49
Loss (Gain) on Equity Investments	-25,739	-25,927	-17,401	-508	16,993
Other Operating Activities	-29,724	375	-1,830	2,769	462
Change in Inventory	-4,172	-2,144	-406	1,460	-618
Change in Other Net Operating Assets	15,996	133	-836	-4,514	-6,507
Operating Cash Flow	41,149	60,045	47,238	28,831	9,282
Operating Cash Flow Growth	-31.47%	27.11%	63.84%	210.61%	-81.97%
Capital Expenditures	-63,197	-54,535	-32,832	-38,235	-33,348
Sale of Property, Plant & Equipment	-	872	850	98	2,518
Divestitures	61,823	80,131	-	-	-
Investment in Securities	-15,343	-3,336	256	1,416	-263
Other Investing Activities	7,472	5,005	2,221	2,957	2,415
Investing Cash Flow	-9,245	28,137	-29,505	-33,764	-28,678
Short-Term Debt Issued	-	4,129	825	-	-
Long-Term Debt Issued	2,300	35,980	34,508	26,138	70,542
Total Debt Issued	2,300	40,109	35,333	26,138	70,542
Short-Term Debt Repaid	-4,427	-	-4,000	-1,865	-14,499
Long-Term Debt Repaid	-34,856	-35,195	-15,690	-10,082	-20,785
Total Debt Repaid	-39,283	-35,195	-19,690	-11,947	-35,284
Net Debt Issued (Repaid)	-36,983	4,914	15,643	14,191	35,258
Repurchase of Common Stock	-10,002	-31,606	-23,664	-	-
Common Dividends Paid	-7,219	-4,138	-2,887	-2,903	-2,903
Other Financing Activities	-8,665	-9,434	-10,008	-10,052	-10,857
Financing Cash Flow	-62,869	-40,264	-20,916	1,236	21,498
Miscellaneous Cash Flow Adjustments	6	-	12,315	74	122
Net Cash Flow	-30,959	47,918	9,132	-3,623	2,224
Free Cash Flow	-22,048	5,510	14,406	-9,404	-24,066
Free Cash Flow Growth	-	-61.75%	-	-	-
Free Cash Flow Margin	-6.91%	1.86%	5.71%	-4.39%	-11.58%
Free Cash Flow Per Share	-45.21	10.99	28.84	-18.60	-47.58
Cash Interest Paid	2,675	2,518	2,375	2,357	2,400
Cash Income Tax Paid	34,929	3,099	3,443	1,226	5,122
Levered Free Cash Flow	2,331	24,734	15,258	-11,704	-23,035
Unlevered Free Cash Flow	3,985	26,332	16,771	-10,220	-21,502
Change in Working Capital	11,824	-2,011	-1,242	-3,054	-7,125

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