Pizza Pizza Royalty Corp. (PZRIF)

Pizza Pizza Royalty Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	31.24	30.97	30.98	27.55	23.92	24.47
Other Amortization	0.05	0.02	0.02	0.02	0.02	0.02
Other Operating Activities	0.41	0.38	0.7	0.86	0.93	0.39
Change in Accounts Receivable	0.03	0.22	-0.07	-0.22	0.02	0.02
Change in Accounts Payable	-0.05	0.08	0.03	0.05	-0.01	-0.06
Change in Income Taxes	0.11	-1.09	-0.18	0.99	0.09	-0.14
Change in Other Net Operating Assets	-0.08	0.21	-0.11	-0.26	-0.2	0.5
Operating Cash Flow	31.7	30.8	31.35	28.99	24.75	25.19
Operating Cash Flow Growth	0.88%	-1.77%	8.14%	17.11%	-1.72%	-10.99%
Investment in Securities	3	1	-	-2.5	-0.75	-
Investing Cash Flow	3	1	-	-2.5	-0.75	-
Common Dividends Paid	-33.69	-33.52	-30.78	-27.21	-23.6	-23.47
Other Financing Activities	-0.32	-	-	-	-	-
Financing Cash Flow	-34.01	-33.52	-30.78	-27.21	-23.6	-23.47
Net Cash Flow	0.69	-1.72	0.57	-0.72	0.41	1.72
Cash Interest Paid	1.42	1.02	1.29	1.46	1.34	1.21
Cash Income Tax Paid	6.73	7.93	7.18	5.16	5.1	5.21
Levered Free Cash Flow	23.96	23.07	23.8	22.37	18.78	18.95
Unlevered Free Cash Flow	24.84	23.86	24.58	23.18	19.61	19.38
Change in Working Capital	0.01	-0.57	-0.34	0.56	-0.12	0.31

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.