Danone S.A. (DANOY)

Danone Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,887	2,100	953	1,023	1,992
Depreciation & Amortization	1,355	1,168	1,611	1,863	1,265
Stock-Based Compensation	109	71	61	25	12
Other Adjustments	178	-12	529	-22	-145
Change in Receivables	-328	-7	74	-424	-231
Changes in Inventories	-192	50	41	-667	-81
Changes in Accounts Payable	527	353	324	879	425
Changes in Other Operating Activities	268	137	-162	289	239
Operating Cash Flow	3,779	3,831	3,442	2,964	3,474
Operating Cash Flow Growth	-1.36%	11.30%	16.13%	-14.68%	17.09%
Capital Expenditures	-1,055	-923	-847	-873	-1,043
Sale of Property, Plant & Equipment	44	18	15	30	46
Payments for Business Acquisitions	-858	-153	-162	-100	-300
Proceeds from Business Divestments	106	507	177	206	1,834
Other Investing Activities	52	-928	-237	1,523	-1,468
Investing Cash Flow	-1,773	-463	-834	-749	561
Long-Term Debt Issued	1,666	1,397	1,597	600	1,700
Long-Term Debt Repaid	-2,050	-2,006	-1,852	-1,682	-1,919
Net Long-Term Debt Issued (Repaid)	-384	-609	-255	-1,082	-219
Issuance of Common Stock	89	76	69	51	46
Repurchase of Common Stock	-486	-	-	-	-801
Net Common Stock Issued (Repurchased)	-397	76	69	51	-755
Common Dividends Paid	-1,379	-1,348	-1,279	-1,238	-1,261
Other Financing Activities	407	-1,028	-552	-1,353	-437
Financing Cash Flow	-1,610	-3,817	-2,057	-1,934	-4,027
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-307	-2	-503	112	58
Net Cash Flow	90	-452	49	392	66
Free Cash Flow	2,724	2,908	2,595	2,091	2,431
Free Cash Flow Growth	-6.33%	12.06%	24.10%	-13.99%	21.25%
FCF Margin	9.98%	10.62%	9.40%	7.56%	10.01%
Free Cash Flow Per Share	4.22	4.51	4.04	3.27	3.76
Levered Free Cash Flow	2,344	2,197	1,593	1,368	2,510
Unlevered Free Cash Flow	2,984	3,117	2,079	2,724	2,396

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