Valiant Holding AG Cash Flow Statement

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

Millions CHF. 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	-	150.38	144.26	129.51	123.13
Depreciation & Amortization	-	19.84	23.8	22.36	22.83
Gain (Loss) on Sale of Investments	-	-1.76	-3.6	2.37	-0.28
Total Asset Writedown	-	0	-	-	-
Provision for Credit Losses	-	14.66	21.2	-	-
Change in Trading Asset Securities	-	42.5	157.33	-207.43	-49.71
Accrued Interest Receivable	-	-6.46	-13.68	-3.42	-2.11
Change in Other Net Operating Assets	-	-343.25	-1,334	-1,971	-1,047
Other Operating Activities	-	-4.17	-7.52	8.21	22.55
Operating Cash Flow	-	-128.27	-1,012	-2,019	-930.1
Capital Expenditures	-	-10.3	-11.3	-10.3	-
Sale of Property, Plant and Equipment	-	0.03	0.1	0.87	-
Investment in Securities	-	-1,190	200.44	-14.99	71.33
Purchase / Sale of Intangibles	-	-1.87	-1.78	-1.48	-12.22
Investing Cash Flow	-	-1,203	185.32	-20.98	56.37
Long-Term Debt Issued	-	711.91	1,041	26.89	914.8
Long-Term Debt Repaid	-	-	-	-	-26.66
Net Debt Issued (Repaid)	-	711.91	1,041	26.89	888.14
Repurchase of Common Stock	-	-0.03	-0.01	-0.02	-0.01
Common Dividends Paid	-	-86.86	-78.96	-78.96	-78.96
Net Increase (Decrease) in Deposit Accounts	-	141.59	-449.63	386.03	1,137
Other Financing Activities	-	-2.26	-12.26	-3.92	-2.58
Financing Cash Flow	-	764.35	500.19	330.01	1,944
Net Cash Flow	-	-567.24	-326.79	-1,201	1,070
Free Cash Flow	-	-138.57	-1,024	-2,029	-930.1
Free Cash Flow Margin	-	-25.12%	-187.54%	-452.53%	-215.99%
Free Cash Flow Per Share	-	-8.77	-64.81	-128.49	-58.90

Source: S&P Global Market Intelligence. Banks template. Financial Sources.