NZX Limited Cash Flow Statement

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

Millions NZD. 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	21.48	25.03	13.55	14.16	15.02
Depreciation & Amortization	7.68	7.65	6.61	4.57	3.28
Other Amortization	11.8	10.51	10.52	9.36	7.19
Loss (Gain) From Sale of Assets	0.17	0.01	0.04	0.01	0.15
Asset Writedown & Restructuring Costs	-	3.7	-	-	-
Loss (Gain) on Equity Investments	-0.32	-0.57	-1.03	-0.15	-
Stock-Based Compensation	1.32	1.02	1.2	0.46	1.05
Other Operating Activities	-0.15	-10.87	0.52	-	-
Change in Accounts Receivable	-0.85	-3.2	1.36	-5.86	-0.43
Change in Accounts Payable	-1.18	1.84	1.97	2.23	2.15
Change in Income Taxes	0.1	1.38	0.3	-1.21	-0.4
Operating Cash Flow	39.49	35.89	34.44	23.44	27.39
Operating Cash Flow Growth	10.04%	4.21%	46.95%	-14.44%	-12.30%
Capital Expenditures	-0.55	-2.78	-0.99	-5.1	-5.47
Cash Acquisitions	-3.2	-	-22.44	-25	-
Sale (Purchase) of Intangibles	-11.09	-10.65	-11.4	-10.4	-11.45
Investment in Securities	-	-	-	-16.64	-
Other Investing Activities	-	-	-0.1	-	-
Investing Cash Flow	-14.84	-13.42	-34.93	-57.13	-16.92
Long-Term Debt Issued	-	-	22.5	-	-
Long-Term Debt Repaid	-1.38	-1.29	-0.56	-1.24	-1.1
Net Debt Issued (Repaid)	-1.38	-1.29	21.94	-1.24	-1.1
Issuance of Common Stock	-	-	-	42.67	-
Common Dividends Paid	-20.04	-17.02	-16.74	-16.19	-13.09
Other Financing Activities	-	-	-0.65	-	-
Financing Cash Flow	-21.42	-18.31	4.55	25.25	-14.19
Net Cash Flow	3.23	4.16	4.06	-8.45	-3.71
Free Cash Flow	38.94	33.11	33.45	18.34	21.92
Free Cash Flow Growth	17.61%	-1.01%	82.38%	-16.33%	-28.72%
Free Cash Flow Margin	30.20%	27.56%	30.86%	19.16%	24.92%
Free Cash Flow Per Share	0.12	0.10	0.10	0.06	0.08
Cash Interest Paid	4.97	5.66	-	-	-
Cash Income Tax Paid	8.29	6.92	5.94	6.69	7.36
Levered Free Cash Flow	22.52	17.4	31.03	7.04	9.83
Unlevered Free Cash Flow	25.56	20.88	34.18	8.97	11.55
Change in Working Capital	-2.48	-0.59	3.04	-4.97	0.72

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