Nigerian Breweries Plc (NGX:NB)
Nigeria · Delayed Price · Currency is NGN 72.00
-0.40 (-0.55%)
At close: Nov 3, 2026
Nigerian Breweries Cash Flow Statement
Financials in millions NGN. Fiscal year is January - December.
Millions NGN. 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 | 127,692 | 99,100 | -144,887 | -106,308 | 13,182 | 12,666 |
Depreciation & Amortization | 86,655 | 77,221 | 54,809 | 47,551 | 39,192 | 41,004 |
Other Amortization | 558.01 | 558.01 | 514.65 | 480.31 | 408.58 | 295.34 |
Loss (Gain) From Sale of Assets | -61.73 | -1,212 | -1,296 | -446.7 | -692.92 | -2,982 |
Stock-Based Compensation | 347.29 | -443.73 | -33.43 | 525.44 | 773.63 | -43.75 |
Other Operating Activities | 124,889 | 104,249 | 157,809 | -41,775 | -21,654 | -15,029 |
Change in Accounts Receivable | -25,304 | -16,896 | -3,179 | -6,209 | -15,097 | -15,306 |
Change in Inventory | 14,397 | -12,529 | -58,408 | -38,518 | -21,326 | -26,104 |
Change in Accounts Payable | -14,615 | -48,120 | 66,709 | 80,354 | 21,854 | 96,539 |
Change in Other Net Operating Assets | 2,468 | 26,250 | -19,996 | -10,320 | 5,888 | 576.64 |
Operating Cash Flow | 317,025 | 228,177 | 52,041 | -74,666 | 22,528 | 91,615 |
Operating Cash Flow Growth | 41.33% | 338.45% | - | - | -75.41% | 7.35% |
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 | -120,250 | -123,446 | -137,572 | -98,742 | -97,861 | -59,407 |
Sale of Property, Plant & Equipment | 97.12 | 1,374 | 1,307 | 312.04 | 434.83 | 54.58 |
Cash Acquisitions | 192.88 | -1,995 | -3,767 | - | - | - |
Sale (Purchase) of Intangibles | -21.22 | -459.23 | -2,941 | -127.94 | -658.13 | -584.23 |
Other Investing Activities | 2,987 | 1,215 | 2,391 | 112.23 | -1,174 | -1,077 |
Investing Cash Flow | -116,995 | -123,311 | -140,581 | -98,446 | -99,259 | -61,013 |
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 |
Long-Term Debt Issued | - | 168,500 | 371,280 | 533,947 | 161,048 | 67,602 |
Long-Term Debt Repaid | - | -317,859 | -598,312 | -336,504 | -66,896 | -104,088 |
Lease Payments | - | -2.58 | -39.8 | -16.48 | -113.54 | -8,638 |
Net Debt Issued (Repaid) | -161,432 | -149,359 | -227,032 | 197,443 | 94,152 | -36,486 |
Issuance of Common Stock | - | - | 543,313 | - | - | - |
Common Dividends Paid | -3,309 | -2,969 | -8,314 | -6,068 | -7,587 | -4,979 |
Other Financing Activities | -22,471 | -43,784 | -92,655 | -17,226 | -4,507 | -2,730 |
Financing Cash Flow | -187,212 | -196,111 | 215,312 | 174,149 | 82,059 | -44,195 |
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 | -4,788 | 1,797 | -15,750 | 16,348 | 122.48 | -46.46 |
Net Cash Flow | 8,030 | -89,448 | 111,021 | 17,386 | 5,451 | -13,640 |
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 | 196,774 | 104,731 | -85,530 | -173,408 | -75,333 | 32,209 |
Free Cash Flow Growth | 147.61% | - | - | - | - | -33.08% |
Free Cash Flow Margin | 12.91% | 7.14% | -7.89% | -28.92% | -13.68% | 7.37% |
Free Cash Flow Per Share | 6.37 | 3.38 | -7.13 | -20.89 | -9.08 | 3.20 |
Levered Free Cash Flow | 141,169 | 25,582 | -114,280 | -9,548 | -21,938 | 46,763 |
Unlevered Free Cash Flow | 147,916 | 53,704 | -53,022 | 12,369 | -17,417 | 53,133 |
Free Cash Flow After Leases | 196,774 | 104,729 | -85,570 | -173,424 | -75,446 | 23,570 |
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 | 22,471 | 43,784 | 93,522 | 18,778 | 4,648 | 5,461 |
Cash Income Tax Paid | - | 5,874 | 3,033 | 9,322 | 6,675 | 8,142 |
Change in Working Capital | -23,054 | -51,295 | -14,874 | 25,307 | -8,681 | 55,705 |