Adyen Cash Flow Statement

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

Millions EUR. 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	1,063	925.16	698.32	564.14	469.72
Depreciation & Amortization	132.72	101.18	81.93	58.39	31.92
Other Amortization	3.13	3.29	3.52	5.22	3.09
Loss (Gain) From Sale of Investments	-1.35	-3.07	-3.21	0.15	0.46
Stock-Based Compensation	40.61	35.16	28.05	1.15	5.89
Other Operating Activities	36.69	-11.07	50.02	-31.83	-14.37
Change in Accounts Receivable	-84.98	3.11	-45.1	-32.65	19.78
Change in Inventory	22.89	4.65	-22.88	-65.75	-3.85
Change in Accounts Payable	31.12	77.71	19.56	40.16	-11.05
Change in Other Net Operating Assets	-212.93	568.65	1,060	1,482	1,319
Operating Cash Flow	1,030	1,705	1,870	2,021	1,820
Operating Cash Flow Growth	-39.56%	-8.84%	-7.48%	11.04%	79.03%
Capital Expenditures	-123.66	-98.22	-65.61	-95.58	-51.39
Sale (Purchase) of Intangibles	-2.13	-3.03	-4.14	-3.52	-2.96
Investment in Securities	-3.75	-17.37	-	11.41	12.22
Investing Cash Flow	-129.54	-118.62	-69.74	-87.69	-42.13
Long-Term Debt Repaid	-47.62	-41.41	-33.81	-22.14	-9.05
Net Debt Issued (Repaid)	-47.62	-41.41	-33.81	-22.14	-9.05
Issuance of Common Stock	19.74	112.01	13.2	9.93	105.29
Financing Cash Flow	-27.88	70.6	-20.61	-12.22	96.24
Foreign Exchange Rate Adjustments	-40.63	1.3	4.95	-15	4.35
Net Cash Flow	832.37	1,658	1,785	1,906	1,879
Free Cash Flow	906.76	1,607	1,804	1,926	1,769
Free Cash Flow Growth	-43.56%	-10.97%	-6.29%	8.87%	76.96%
Free Cash Flow Margin	38.16%	79.73%	110.97%	144.76%	176.61%
Free Cash Flow Per Share	28.68	51.39	57.91	62.02	57.66
Cash Interest Paid	19.7	26.74	4.78	11.96	12.79
Cash Income Tax Paid	264.33	320.54	155.17	149.57	127.43
Levered Free Cash Flow	534.25	1,201	1,537	1,773	1,627
Unlevered Free Cash Flow	546.57	1,218	1,540	1,780	1,635
Change in Working Capital	-243.91	654.13	1,011	1,424	1,323

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.