Rheinmetall AG Cash Flow Statement

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

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
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	2015 - 2019
Net Income	840	717	535	474	291	-27	Upgrade
Depreciation & Amortization	450	386	302	226	215	271	Upgrade
Other Amortization	-	-	-	23	24	-	Upgrade
Loss (Gain) From Sale of Assets	51	103	-59	-5	-	-6	Upgrade
Asset Writedown & Restructuring Costs	31	17	6	-	15	32	Upgrade
Loss (Gain) on Equity Investments	7	15	-4	-39	15	11	Upgrade
Other Operating Activities	-21	42	49	37	22	-19	Upgrade
Change in Accounts Receivable	18	-102	39	-39	63	-28	Upgrade
Change in Other Net Operating Assets	-364	542	-188	-516	-46	-35	Upgrade
Operating Cash Flow	1,012	1,720	743	174	690	453	Upgrade
Operating Cash Flow Growth	-30.78%	131.49%	327.01%	-74.78%	52.32%	-24.75%	Upgrade
Capital Expenditures	-914	-732	-398	-349	-271	-237	Upgrade
Sale of Property, Plant & Equipment	12	10	2	19	3	20	Upgrade
Cash Acquisitions	-534	-508	-1,064	-205	-35	-3	Upgrade
Divestitures	41	24	155	2	1	1	Upgrade
Investment in Securities	-	-	130	-	-160	20	Upgrade
Other Investing Activities	35	34	-	-1	-	11	Upgrade
Investing Cash Flow	-1,360	-1,172	-1,175	-534	-462	-188	Upgrade
Long-Term Debt Issued	-	793	1,294	249	122	444	Upgrade
Long-Term Debt Repaid	-	-773	-485	-232	-231	-487	Upgrade
Net Debt Issued (Repaid)	805	20	809	17	-109	-43	Upgrade
Issuance of Common Stock	-	-	113	-	-	-	Upgrade
Common Dividends Paid	-369	-248	-187	-143	-87	-104	Upgrade
Other Financing Activities	11	-6	11	-5	-6	-1	Upgrade
Financing Cash Flow	447	-234	746	-131	-202	-148	Upgrade
Foreign Exchange Rate Adjustments	-16	-2	-9	1	4	-10	Upgrade
Miscellaneous Cash Flow Adjustments	-2	-1	-	-	-	1	Upgrade
Net Cash Flow	81	311	305	-490	30	108	Upgrade
Free Cash Flow	98	988	345	-175	419	216	Upgrade
Free Cash Flow Growth	-88.89%	186.38%	-	-	93.98%	-31.21%	Upgrade
Free Cash Flow Margin	0.89%	10.13%	4.81%	-2.73%	7.41%	4.00%	Upgrade
Free Cash Flow Per Share	2.10	21.17	7.45	-4.04	9.68	5.00	Upgrade
Cash Interest Paid	7	-	-	-	23	25	Upgrade
Cash Income Tax Paid	360	351	157	154	72	85	Upgrade
Levered Free Cash Flow	-1.63	850.13	526.88	-280	275.25	329.13	Upgrade
Unlevered Free Cash Flow	79	934.5	596.25	-260	294.63	354.13	Upgrade
Change in Working Capital	-346	440	-149	-555	17	-63	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.