UPM-Kymmene Oyj (HEL:UPM)
Finland · Delayed Price · Currency is EUR 22.740
-0.180 (-0.79%)
Oct 30, 2026, 6:29 PM EET
UPM-Kymmene Oyj Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 689 | 480 | 436 | 388 | 1,526 | 1,286 |
Depreciation & Amortization | 539 | 568 | 1,108 | 535 | 455 | 445 |
Other Amortization | 24 | 24 | 26 | 25 | 17 | 18 |
Loss (Gain) From Sale of Assets | -97 | -57 | -31 | -2 | -35 | -146 |
Asset Writedown & Restructuring Costs | -115 | -142 | -75 | 203 | - | -59 |
Loss (Gain) on Equity Investments | -2 | - | -1 | 1 | -4 | -2 |
Other Operating Activities | -29 | 141 | -31 | 702 | -764 | -177 |
Change in Accounts Receivable | 396 | 396 | -81 | 854 | -400 | -445 |
Change in Inventory | 123 | 123 | -94 | 293 | -665 | -271 |
Change in Other Net Operating Assets | -166 | -128 | 95 | -730 | 378 | 601 |
Operating Cash Flow | 1,365 | 1,405 | 1,352 | 2,269 | 508 | 1,250 |
Operating Cash Flow Growth | 8.77% | 3.92% | -40.41% | 346.65% | -59.36% | 24.38% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -359 | -428 | -596 | -1,080 | -1,477 | -1,521 |
Sale of Property, Plant & Equipment | 134 | 104 | 29 | 17 | 48 | 23 |
Cash Acquisitions | -1 | -124 | -28 | -20 | -138 | - |
Divestitures | - | - | 16 | 1 | 15 | 157 |
Investment in Securities | - | - | 6 | 1 | 13 | 1 |
Other Investing Activities | 9 | 20 | -13 | 5 | -46 | 17 |
Investing Cash Flow | -217 | -428 | -586 | -1,076 | -1,585 | -1,323 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 32 | - | - | 439 | - |
Long-Term Debt Issued | - | 65 | 600 | 100 | 4,402 | 600 |
Total Debt Issued | -80 | 97 | 600 | 100 | 4,841 | 600 |
Short-Term Debt Repaid | - | - | -182 | -260 | - | - |
Long-Term Debt Repaid | - | -260 | -128 | -1,605 | -2,641 | -100 |
Lease Payments | -89 | -112 | -105 | -99 | -91 | -84 |
Total Debt Repaid | -162 | -260 | -310 | -1,865 | -2,641 | -100 |
Net Debt Issued (Repaid) | -242 | -163 | 290 | -1,765 | 2,200 | 500 |
Repurchase of Common Stock | - | -160 | - | - | - | - |
Common Dividends Paid | -790 | -792 | -801 | -799 | -693 | -693 |
Other Financing Activities | -22 | -20 | -33 | -9 | 180 | -1 |
Financing Cash Flow | -1,054 | -1,135 | -544 | -2,573 | 1,687 | -194 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 6 | -19 | -2 | -16 | -3 | 8 |
Miscellaneous Cash Flow Adjustments | -14 | - | 40 | -39 | - | -1 |
Net Cash Flow | 86 | -177 | 260 | -1,435 | 607 | -260 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 1,006 | 977 | 756 | 1,189 | -969 | -271 |
Free Cash Flow Growth | 25.75% | 29.23% | -36.42% | - | - | - |
Free Cash Flow Margin | 10.59% | 10.12% | 7.31% | 11.37% | -8.27% | -2.76% |
Free Cash Flow Per Share | 1.91 | 1.85 | 1.42 | 2.23 | -1.82 | -0.51 |
Levered Free Cash Flow | 880.38 | 1,015 | 1,037 | 434.75 | -630.75 | -201.63 |
Unlevered Free Cash Flow | 940.38 | 1,080 | 1,107 | 489.13 | -591.38 | -172.25 |
Free Cash Flow After Leases | 917 | 865 | 651 | 1,090 | -1,060 | -355 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 121 | 126 | 133 | 116 | 43 | 26 |
Cash Income Tax Paid | 102 | 96 | 144 | 181 | 315 | 276 |
Change in Working Capital | 353 | 391 | -80 | 417 | -687 | -115 |