Casella Waste Systems 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	15.26	13.54	25.4	53.08	41.1	91.11
Depreciation & Amortization	302.9	244.12	178.09	126.35	103.59	90.78
Other Amortization	3.01	2.96	2.96	1.9	2.29	2.17
Stock-Based Compensation	16.4	12.19	9.08	8.16	11.55	8.22
Other Operating Activities	29.81	39.15	37.13	39.08	37.28	-27.19
Change in Accounts Receivable	-8.21	1.25	-39.44	-7.1	-7.42	5.82
Change in Accounts Payable	8.77	-13.63	41.59	11.08	13.89	-15.23
Change in Other Net Operating Assets	-24.97	-18.22	-21.73	-15.22	-19.54	-15.76
Operating Cash Flow	342.97	281.36	233.09	217.31	182.74	139.92
Operating Cash Flow Growth	38.93%	20.71%	7.26%	18.92%	30.60%	19.77%
Capital Expenditures	-264.67	-203.23	-154.91	-130.96	-123.3	-108.11
Sale of Property, Plant & Equipment	0.91	1.38	1.11	0.6	0.79	0.53
Cash Acquisitions	-426.93	-468.63	-851.84	-78.2	-170.65	-32.46
Sale (Purchase) of Intangibles	-0.02	-0.28	-	-	-	-
Investment in Securities	-	-	-	1.64	-	-
Other Investing Activities	-	0.15	-	-	-	-
Investing Cash Flow	-690.7	-670.61	-1,006	-206.92	-293.15	-140.03
Long-Term Debt Issued	-	846.75	465	88.2	3.7	157
Total Debt Issued	136.5	846.75	465	88.2	3.7	157
Long-Term Debt Repaid	-	-783.68	-26.26	-59.21	-10.31	-149.38
Total Debt Repaid	-111.32	-783.68	-26.26	-59.21	-10.31	-149.38
Net Debt Issued (Repaid)	25.18	63.07	438.74	28.99	-6.6	7.62
Issuance of Common Stock	0.03	496.59	496.32	0.19	0.17	144.89
Other Financing Activities	-3.8	-8.02	-12.76	-2.23	-3.68	-1.53
Financing Cash Flow	21.41	551.65	922.3	26.95	-10.12	150.98
Net Cash Flow	-326.32	162.39	149.76	37.34	-120.53	150.87
Free Cash Flow	78.31	78.13	78.19	86.35	59.44	31.81
Free Cash Flow Growth	39.94%	-0.07%	-9.46%	45.27%	86.84%	132.83%
Free Cash Flow Margin	4.36%	5.02%	6.18%	7.96%	6.69%	4.11%
Free Cash Flow Per Share	1.23	1.31	1.41	1.67	1.15	0.65
Cash Interest Paid	58.37	61.22	43.59	21	19.03	20.12
Cash Income Tax Paid	1.96	6.78	10.11	2.8	1.44	-1.53
Levered Free Cash Flow	61.6	49.8	76.64	65.16	35.81	20.14
Unlevered Free Cash Flow	97.37	85.85	103.41	78.08	46.79	31.95
Change in Working Capital	-24.41	-30.6	-19.57	-11.25	-13.07	-25.17

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