Subsea 7 S.A. (OSL:SUBC)

Subsea 7 Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	613	411.4	201.4	15.4	57.1	31.8
Depreciation & Amortization	654.4	661.3	601.6	521.7	453.1	430.7
Other Amortization	17.9	17.9	20.9	16.3	14.5	13.1
Loss (Gain) From Sale of Assets	1.2	-2.4	0.1	0.8	-0.3	-3
Asset Writedown & Restructuring Costs	31.2	31.2	22	70.9	-57	5.4
Loss (Gain) From Sale of Investments	1.7	1.7	-	-	-	-
Loss (Gain) on Equity Investments	-35.7	-38	-38	-8.2	3	-3.9
Stock-Based Compensation	17.4	8.7	6.2	4.9	3.5	3.9
Provision & Write-off of Bad Debts	-	-	-	19	-	-
Other Operating Activities	182.7	145.2	61.7	14.8	20	16.6
Change in Accounts Receivable	-10.9	-46.5	-152.8	-215.4	-35.2	-427.8
Change in Inventory	-9.4	0.4	0.9	-10	-9.7	-9.3
Change in Accounts Payable	15.8	-10.8	24.2	221.3	-26.3	408.9
Change in Unearned Revenue	488.9	379	186.1	69.2	144.6	-71.7
Change in Other Net Operating Assets	-61.8	-88.4	-2.9	-60.7	-81.5	-101.7
Operating Cash Flow	1,906	1,471	931.4	660	485.8	293
Operating Cash Flow Growth	66.14%	57.90%	41.12%	35.86%	65.80%	-34.42%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-256.3	-281	-348.7	-581.2	-231	-166.5
Sale of Property, Plant & Equipment	2.4	1.8	59.7	-	0.8	6.6
Cash Acquisitions	-	-2.8	-	-	-	4.5
Investment in Securities	-	-	-153.3	-154.6	-	1.2
Other Investing Activities	88.5	68.4	28.7	25.6	10.1	-29.5
Investing Cash Flow	-165.4	-213.6	-413.6	-710.2	-220.1	-183.7

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	50	170	1,061	-	200
Long-Term Debt Repaid	-	-456.2	-484.4	-702.9	-161	-111
Net Debt Issued (Repaid)	-419.4	-406.2	-314.4	358	-161	89
Repurchase of Common Stock	-	-	-87.3	-	-46	-21
Common Dividends Paid	-606.4	-376.2	-162.9	-112.1	-31.7	-
Other Financing Activities	-91.3	-91.4	-115.6	-94.8	27.5	-18.8
Financing Cash Flow	-1,117	-873.8	-680.2	151.1	-211.2	-22.8

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	6.2	7.6	-11.1	7.4	-7.8	-1.9
Miscellaneous Cash Flow Adjustments	2.4	3.5	-2.1	-3	1.3	1.4
Net Cash Flow	632.5	394.4	-175.6	105.3	48	86

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	1,650	1,190	582.7	78.8	254.8	126.5
Free Cash Flow Growth	114.86%	104.17%	639.47%	-69.07%	101.42%	-56.30%
Free Cash Flow Margin	21.95%	16.79%	8.52%	1.32%	4.96%	2.53%
Free Cash Flow Per Share	5.53	4.00	1.94	0.26	0.87	0.42
Levered Free Cash Flow	1,507	986.53	448.74	273.65	252.66	187.59
Unlevered Free Cash Flow	1,554	1,034	510.74	318.15	267.85	200.15

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	91.3	91.4	109.2	82.2	27.1	18.8
Cash Income Tax Paid	298.6	198.6	77	83.5	103.2	67.5
Change in Working Capital	422.6	233.7	55.5	4.4	-8.1	-201.6

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 21, 2026

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