Ninety One Group Cash Flow Statement

Financials in millions GBP. Fiscal year is April - March.

Millions GBP. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2017 - 2020
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021	2017 - 2020
Net Income	158	150.1	163.9	163.8	205.3	154.4	Upgrade
Depreciation & Amortization	14.7	13.8	13.5	14.8	15	16.6	Upgrade
Loss (Gain) From Sale of Assets	-	-	-	-	-14.9	0.4	Upgrade
Loss (Gain) From Sale of Investments	-1,111	-641.1	-568.9	-360	-479.7	-1,206	Upgrade
Loss (Gain) on Equity Investments	-1.8	-2.4	-1.3	-1.4	-0.4	-0.6	Upgrade
Stock-Based Compensation	17.2	16.2	16.5	14.2	12.1	7.8	Upgrade
Other Operating Activities	1,105	760.3	530.9	298.6	546.5	1,412	Upgrade
Change in Accounts Receivable	0.8	11.1	31.4	5.5	-13.1	-3.7	Upgrade
Change in Accounts Payable	7.9	0.6	-31.7	-52.2	-27.7	77.3	Upgrade
Change in Other Net Operating Assets	20.9	9.8	17.5	-9.4	-10.8	1.6	Upgrade
Operating Cash Flow	211.9	318.4	171.8	73.9	232.3	459.4	Upgrade
Operating Cash Flow Growth	10.13%	85.33%	132.48%	-68.19%	-49.43%	-43.54%	Upgrade
Capital Expenditures	-4.2	-4.4	-2.5	-1.2	-1.4	-19.4	Upgrade
Divestitures	-	-	-	-	17.7	-	Upgrade
Investment in Securities	-0.4	-3.4	-1.9	3.6	12.9	-389.3	Upgrade
Investing Cash Flow	-4.3	-7.8	-4.4	2.4	29.2	-408.7	Upgrade
Long-Term Debt Repaid	-	-10.1	-10.1	-10.3	-5.3	-4	Upgrade
Net Debt Issued (Repaid)	-10.5	-10.1	-10.1	-10.3	-5.3	-4	Upgrade
Repurchase of Common Stock	-43.7	-48.1	-37.9	-23.8	-16.7	-9.6	Upgrade
Common Dividends Paid	-109.7	-107.2	-115.8	-130.2	-123.7	-53.9	Upgrade
Other Financing Activities	-	-	-	-	-	-1.4	Upgrade
Financing Cash Flow	-163.9	-165.4	-163.8	-164.3	-145.7	-68.9	Upgrade
Foreign Exchange Rate Adjustments	-16.8	-2.6	-17.4	-35.4	7.5	28.6	Upgrade
Net Cash Flow	26.9	142.6	-13.8	-123.4	123.3	10.4	Upgrade
Free Cash Flow	207.7	314	169.3	72.7	230.9	440	Upgrade
Free Cash Flow Growth	9.37%	85.47%	132.88%	-68.52%	-47.52%	-45.01%	Upgrade
Free Cash Flow Margin	34.11%	52.81%	28.77%	11.59%	34.78%	70.39%	Upgrade
Free Cash Flow Per Share	0.24	0.36	0.19	0.08	0.25	0.48	Upgrade
Cash Interest Paid	3	3.3	3.6	3.8	1.9	1.4	Upgrade
Cash Income Tax Paid	38.8	43.7	59.8	54.2	69.7	48.9	Upgrade
Levered Free Cash Flow	113.71	140.56	125.55	125.6	191.85	149.33	Upgrade
Unlevered Free Cash Flow	115.59	142.63	127.99	127.98	194.35	151.76	Upgrade
Change in Working Capital	29.6	21.5	17.2	-56.1	-51.6	75.2	Upgrade

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