Fiera Capital Cash Flow Statement

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

Millions CAD. 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	31.19	24.99	58.45	25.35	73.53	-3.38
Depreciation & Amortization	48.71	49.1	53.94	57.62	64.23	82.14
Other Amortization	0.41	0.41	0.56	0.95	1.05	1.02
Loss (Gain) From Sale of Assets	-	-	-	-	-15.93	-6.33
Asset Writedown & Restructuring Costs	-	-	-	-	3.4	66.91
Loss (Gain) From Sale of Investments	-13.33	1.18	3.06	15.79	-5.02	-1.52
Loss (Gain) on Equity Investments	-7.78	-12.43	-11.12	-16.55	-12.02	-5.67
Stock-Based Compensation	22.89	21.47	12.36	20.64	32.76	18.18
Other Operating Activities	82.23	83.22	69.15	52.25	66.5	13.27
Change in Accounts Receivable	2.79	7	-9.72	62.4	-52.81	15.72
Change in Accounts Payable	-35.93	-56.27	-30.87	-81.77	-0.25	-37.35
Change in Other Net Operating Assets	7.71	15.33	-7.82	-23.38	15.85	2.39
Operating Cash Flow	138.9	134	137.97	113.31	171.29	145.38
Operating Cash Flow Growth	-0.54%	-2.87%	21.76%	-33.85%	17.82%	-2.95%
Capital Expenditures	-4.02	-3.03	-2.84	-4.92	-16.14	-11.78
Cash Acquisitions	-7.69	-	-	-	-	-
Divestitures	-	-	0.71	-	54.82	19
Investment in Securities	1.97	9.03	0.34	18.2	5.63	7.47
Other Investing Activities	4.69	3.39	5.08	-19.61	-0.76	-28.11
Investing Cash Flow	-5.04	9.39	3.29	-6.34	43.55	-13.42
Long-Term Debt Issued	-	2.96	132.77	113.41	2.29	0.62
Long-Term Debt Repaid	-	-16.35	-127.96	-103.78	-47.71	-21.96
Net Debt Issued (Repaid)	4.61	-13.39	4.81	9.63	-45.42	-21.34
Issuance of Common Stock	-	-	1.66	0.38	2.96	1.4
Repurchase of Common Stock	-14.14	-15.91	-2.52	-34	-17.89	-2.92
Common Dividends Paid	-68.41	-91.19	-89.47	-87.98	-87.68	-85.33
Other Financing Activities	-54.62	-54.75	-51.78	-36.18	-31.33	-51.66
Financing Cash Flow	-132.55	-175.23	-137.3	-148.15	-179.35	-159.86
Foreign Exchange Rate Adjustments	0.64	1.58	-0.55	0.79	-1.75	0.54
Net Cash Flow	1.94	-30.25	3.41	-40.4	33.74	-27.36
Free Cash Flow	134.88	130.98	135.12	108.39	155.15	133.6
Free Cash Flow Growth	-1.10%	-3.07%	24.67%	-30.14%	16.13%	-0.11%
Free Cash Flow Margin	19.92%	19.02%	19.68%	15.91%	20.69%	19.22%
Free Cash Flow Per Share	1.10	1.20	1.02	1.04	1.33	1.28
Cash Interest Paid	44.32	48.53	40.87	33.63	28.57	31.34
Cash Income Tax Paid	23.85	24.83	14.26	24.34	12.09	16.07
Levered Free Cash Flow	120.28	86.87	97.58	108.09	232.63	47.8
Unlevered Free Cash Flow	151.99	118.23	128.7	132.87	254.17	71.36
Change in Working Capital	-25.43	-33.93	-48.42	-42.75	-37.22	-19.24

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