STAG Industrial Cash Flow Statement

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

Millions USD. 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	240.99	189.22	192.85	178.33	192.33	202.15
Depreciation & Amortization	295.7	292.48	277.56	274.69	240.75	219.08
Gain (Loss) on Sale of Assets	-66.79	-32.27	-54.1	-57.49	-97.98	-135.73
Asset Writedown	0.89	4.97	-	1.78	-	5.58
Stock-Based Compensation	12.5	11.74	11.49	12.07	14.96	11.68
Change in Accounts Receivable	2.4	4.61	1.92	-6.44	-0.04	-4.48
Change in Accounts Payable	9.44	22.75	-9.24	13.53	6.76	7.16
Change in Other Net Operating Assets	-27.03	-27.43	-23.87	-21.87	-18.66	-11.53
Other Operating Activities	-12.25	-17.7	-8.39	-9.93	-10.24	-5.83
Operating Cash Flow	463.85	460.29	391.09	387.93	336.15	293.92
Operating Cash Flow Growth	3.78%	17.69%	0.81%	15.40%	14.37%	25.95%
Acquisition of Real Estate Assets	-628.25	-775.17	-411.85	-533.44	-1,251	-717.7
Sale of Real Estate Assets	107.08	126.48	105.6	135.35	187.97	273.56
Net Sale / Acq. of Real Estate Assets	-521.17	-648.69	-306.25	-398.09	-1,063	-444.14
Cash Acquisition	-0.24	-0.45	-	-	-3.13	-
Other Investing Activities	-0.05	-0.24	4.36	-0.26	0.02	0.36
Investing Cash Flow	-577.39	-731.06	-320.35	-447.52	-1,220	-554.62
Long-Term Debt Issued	-	2,426	1,167	2,063	4,115	1,314
Long-Term Debt Repaid	-	-2,019	-1,044	-1,781	-3,603	-1,256
Net Debt Issued (Repaid)	178.78	406.79	123.5	282.06	511.78	58.02
Issuance of Common Stock	167.28	167.28	69.49	54.75	706.99	438.5
Repurchase of Common Stock	-0.68	-1.05	-0.81	-1.6	-1.34	-1.5
Preferred Share Repurchases	-	-	-	-	-75	-
Common Dividends Paid	-281.81	-274.92	-267.57	-266.82	-	-
Common & Preferred Dividends Paid	-	-	-	-	-245.72	-224.28
Total Dividends Paid	-281.81	-274.92	-267.57	-266.82	-245.72	-224.28
Other Financing Activities	-2.73	-11.81	-0.27	-5.21	-9.58	-1.55
Net Cash Flow	-52.72	15.53	-4.92	3.59	2.86	8.48
Cash Interest Paid	118.85	108.82	89.98	72.74	58.39	58.7
Levered Free Cash Flow	344.97	351.58	328.8	304.37	144.52	199.14
Unlevered Free Cash Flow	425.9	422.31	387.91	353.13	184.19	238.1
Change in Working Capital	-7.19	11.87	-28.31	-11.51	-3.67	-3

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