Ameresco Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	56.68	53.94	63.9	98.55	80.19
Depreciation & Amortization	104.27	89.21	65.91	54.28	46.58
Stock-Based Compensation	14.42	14.13	10.32	15.05	8.72
Other Adjustments	-36.76	-46.3	-24.91	8.46	0.23
Change in Receivables	-80.4	-270.15	-203.39	-251.31	-278.56
Changes in Inventories	-1.05	2.08	0.58	-5.41	-0.23
Changes in Accounts Payable	132.49	143.78	53.24	36.16	83.47
Changes in Other Operating Activities	-270	130.91	-35.64	-294.06	-112.68
Operating Cash Flow	-80.36	117.6	-69.99	-338.29	-172.3
Capital Expenditures	-356	-438.35	-551.77	-327.9	-183.78
Purchases of Investments	-27.82	-11.76	-5.43	-	-9
Proceeds from Sale of Investments	132.37	13.09	-	-	1.67
Payments for Business Acquisitions	-4.6	-	-9.18	-	-14.93
Proceeds from Business Divestments	-	54.25	-	-	-
Other Investing Activities	-	-3.87	-0.57	-0.46	0.77
Investing Cash Flow	-256.04	-386.64	-566.94	-328.36	-205.26
Short-Term Debt Issued	-	-	-	137.9	-8.07
Short-Term Debt Repaid	15	-4.9	-43	-	-
Net Short-Term Debt Issued (Repaid)	15	-4.9	-43	137.9	-8.07
Long-Term Debt Issued	652.56	743.53	843.5	468.48	185.99
Long-Term Debt Repaid	-435.53	-551.42	-303.06	-161.86	-98.2
Net Long-Term Debt Issued (Repaid)	217.03	192.11	540.44	306.62	87.79
Issuance of Common Stock	2.91	2.76	4.46	5.96	127.01
Net Common Stock Issued (Repurchased)	2.91	2.76	4.46	5.96	127.01
Other Financing Activities	88.16	123.97	138.91	279.75	158.73
Financing Cash Flow	323.1	313.94	640.8	730.23	365.46
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1.44	-0.2	-0.08	-0.75	0.31
Net Cash Flow	-11.86	44.7	3.79	62.83	-11.78
Free Cash Flow	-436.36	-320.75	-621.76	-666.19	-356.07
FCF Margin	-22.58%	-18.12%	-45.23%	-36.51%	-29.29%
Free Cash Flow Per Share	-8.19	-6.04	-11.68	-12.50	-6.81
Levered Free Cash Flow	-113.98	171.6	92.23	2.51	-16.46
Unlevered Free Cash Flow	-235.07	100.46	-330.39	-412.97	-68.71

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.