Shaheen Insurance Company Cash Flow Statement

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

Millions PKR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	155.6	152.34	165.27	116.3	53.38	31.08
Depreciation & Amortization	36.89	35.87	21.13	12.47	15.45	15.98
Other Amortization	0.28	0.28	0.25	-	-	-
Gain (Loss) on Sale of Assets	-2.56	-2.91	-8.47	-0.39	-2.97	-0.55
Change in Other Net Operating Assets	-106.21	-51.03	14.42	132.66	79.2	11.76
Other Operating Activities	-104.6	-102.59	-108.93	-122.82	-81.81	-49.42
Operating Cash Flow	-26.98	25.58	81.85	138.23	51.14	-10.72
Operating Cash Flow Growth	-	-68.75%	-40.79%	170.28%	-	-
Capital Expenditures	-39.06	-32.76	-61.7	-44.11	-27.47	-8.19
Sale of Property, Plant & Equipment	10.57	10.57	12.99	2.58	3.13	0.55
Investment in Securities	-391.51	-462.08	-581.14	13.01	-10.39	-0.71
Other Investing Activities	487.86	447.4	155.02	135.74	70.19	46.96
Investing Cash Flow	67.87	-36.87	-474.82	107.22	35.45	38.61
Total Debt Repaid	-12.56	-14.8	-16.04	-14.85	-12.73	-18.57
Net Debt Issued (Repaid)	-12.56	-14.8	-16.04	-14.85	-12.73	-18.57
Common Dividends Paid	-	-	-	-0.02	-	-
Other Financing Activities	-8.63	-7.18	-3.12	-	-	-
Financing Cash Flow	-21.19	-21.98	-19.16	-14.86	-12.73	-18.57
Miscellaneous Cash Flow Adjustments	0	-	0	-	-	-
Net Cash Flow	19.7	-33.27	-412.14	230.58	73.86	9.32
Free Cash Flow	-66.03	-7.18	20.15	94.12	23.67	-18.91
Free Cash Flow Growth	-	-	-78.59%	297.66%	-	-
Free Cash Flow Margin	-5.54%	-0.56%	1.84%	15.89%	6.04%	-8.04%
Free Cash Flow Per Share	-0.63	-0.07	0.19	0.90	0.23	-0.18
Cash Interest Paid	7.18	7.18	3.12	-	-	-
Cash Income Tax Paid	68.35	68.35	46.49	17.3	9.02	8.39
Levered Free Cash Flow	-859.83	-477.89	-233.21	171.69	72.76	45.32
Unlevered Free Cash Flow	-854.87	-473.31	-231.26	173.14	74.29	46.67
Change in Working Capital	-106.21	-51.03	14.42	132.66	79.2	11.76

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