Bayer Aktiengesellschaft 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	-3,595	-2,546	-2,942	4,166	1,022
Depreciation & Amortization	2,785	8,783	10,020	6,503	3,056
Other Adjustments	1,832	1,774	3,219	1,025	1,819
Change in Receivables	-852	197	689	269	-61
Changes in Inventories	475	521	-430	-2,170	-173
Changes in Accounts Payable	-176	-120	82	612	854
Changes in Income Taxes Payable	-1,243	-1,222	-1,298	-2,034	-2,159
Changes in Other Operating Activities	6,704	-19	-4,223	-1,278	731
Operating Cash Flow	5,930	7,368	5,117	7,093	5,089
Operating Cash Flow Growth	-19.52%	43.99%	-27.86%	39.38%	3.79%
Capital Expenditures	-2,487	-2,778	-2,751	-2,949	-2,611
Sale of Property, Plant & Equipment	415	295	215	1,130	373
Purchases of Investments	-179	-251	-332	-1,182	-400
Proceeds from Sale of Investments	840	2,576	26	-1,796	4,702
Payments for Business Acquisitions	-196	-225	-708	-89	-1,340
Proceeds from Business Divestments	-2	17	8	2,378	-6
Other Investing Activities	339	489	-21	127	137
Investing Cash Flow	-1,270	164	-3,517	-2,381	855
Long-Term Debt Issued	6,282	5,815	16,284	6,631	6,592
Long-Term Debt Repaid	-8,327	-10,833	-13,031	-7,605	-9,044
Net Long-Term Debt Issued (Repaid)	-2,045	-5,018	3,253	-974	-2,452
Issuance of Common Stock	-	-	23	15	-
Repurchase of Common Stock	-14	-16	-24	-25	-
Net Common Stock Issued (Repurchased)	-14	-16	-1	-10	-
Common Dividends Paid	-127	-131	-2,379	-1,985	-1,993
Other Financing Activities	-1,698	-1,972	-1,506	-1,251	-1,200
Financing Cash Flow	-3,884	-7,178	-679	-4,220	-5,645
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-5	-60	-185	3	39
Net Cash Flow	771	294	736	495	338
Free Cash Flow	3,443	4,590	2,366	4,144	2,478
Free Cash Flow Growth	-24.99%	94.00%	-42.91%	67.23%	-0.28%
FCF Margin	7.55%	9.85%	4.97%	8.17%	5.62%
Free Cash Flow Per Share	3.50	4.67	2.41	4.22	2.52
Levered Free Cash Flow	393	-2,405	1,712	1,860	-1,754
Unlevered Free Cash Flow	4,821	5,088	2,511	4,939	1,373

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