National Reinsurance Corporation of the Philippines (PSE:NRCP)

PSE:NRCP Cash Flow Statement

Financials in millions PHP. 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	829.49	551.34	536.15	55.7	141.7
Depreciation & Amortization	10.45	10.26	13.59	16.46	18.49
Other Amortization	-	0.65	-	-	-
Gain (Loss) on Sale of Assets	-	-	-0.42	-	-
Gain (Loss) on Sale of Investments	-117.17	18.13	-27.34	110.82	-87.62
Reinsurance Recoverable	-538.19	-602.78	-1,030	-1,006	-38.89
Change in Accounts Payable	-87.49	39.14	-70.31	-16.91	59.74
Change in Insurance Reserves / Liabilities	343.19	879.85	-690.37	1,238	-436.96
Change in Other Net Operating Assets	3.86	-104.63	32.35	34.89	138.35
Other Operating Activities	-181.41	-1,195	1,290	-671.84	-227.37
Operating Cash Flow	183.27	-489.46	200.88	-74.6	-22.79
Capital Expenditures	-2.72	-6.34	-6.84	-5.37	-3.54
Sale of Property, Plant & Equipment	1.16	-	0.75	1.56	-
Purchase / Sale of Intangible Assets	-21.35	-34.02	-	-	-
Investment in Securities	-699.46	200.79	-1,053	-186.96	-597.44
Other Investing Activities	569.57	509.24	432.74	320.74	324.83
Investing Cash Flow	-151.3	665.81	-626.18	129.03	-283.6
Foreign Exchange Rate Adjustments	5.01	1.58	-27.63	12.1	13.66
Net Cash Flow	36.97	177.94	-452.92	66.54	-292.73
Free Cash Flow	180.55	-495.79	194.05	-79.97	-26.33
Free Cash Flow Margin	3.58%	-9.22%	4.09%	-2.51%	-0.81%
Free Cash Flow Per Share	0.09	-0.23	0.09	-0.04	-0.01
Cash Income Tax Paid	185.4	363.55	99.13	74.02	141.44
Levered Free Cash Flow	700.21	213.36	782.01	195.14	251.96
Unlevered Free Cash Flow	701.28	213.43	782.03	194.54	251.96
Change in Working Capital	-358.1	125.39	-1,611	414.27	132.02

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