H & M Hennes & Mauritz AB Cash Flow Statement

Financials in millions SEK. Fiscal year is December - November.

Millions SEK. Fiscal year is Dec - Nov.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 28, 2026	Nov '25 Nov 30, 2025	Nov '24 Nov 30, 2024	Nov '23 Nov 30, 2023	Nov '22 Nov 30, 2022	Nov '21 Nov 30, 2021
Net Income	16,379	16,202	15,443	13,010	6,216	14,300
Depreciation & Amortization	20,430	21,140	22,252	22,955	22,579	22,320
Other Adjustments	-3,656	-3,591	-950	-6,859	-2,462	-4,987
Change in Receivables	-3,072	-3,082	-2,299	-594	-452	-736
Changes in Inventories	5,267	3,785	-3,036	5,248	-3,734	1,263
Changes in Accounts Payable	-4,404	-3,334	346	189	2,598	12,459
Operating Cash Flow	30,944	31,120	31,756	33,949	24,745	44,619
Operating Cash Flow Growth	-3.27%	-2.00%	-6.46%	37.20%	-44.54%	72.27%
Capital Expenditures	-6,297	-9,240	-10,060	-7,986	-4,527	-2,727
Purchases of Intangible Assets	-1,373	-1,439	-1,388	-978	-1,484	-737
Other Investing Activities	44	64	-126	-655	-1,071	-614
Investing Cash Flow	-10,691	-10,615	-11,574	-9,619	-7,082	-4,078
Short-Term Debt Issued	-	353	-2,966	-408	680	-7,671
Net Short-Term Debt Issued (Repaid)	-	353	-2,966	-408	680	-7,671
Long-Term Debt Issued	2,922	6,945	-	6,312	-	5,127
Long-Term Debt Repaid	-	-149	-248	0	-	-4,604
Net Long-Term Debt Issued (Repaid)	2,922	6,796	-248	6,312	-	523
Repurchase of Common Stock	-1,150	-254	-2,928	-1,075	-3,000	-
Net Common Stock Issued (Repurchased)	-1,150	-254	-2,928	-1,075	-3,000	-
Common Dividends Paid	-8,179	-10,906	-10,456	-10,577	-10,687	-10,758
Other Financing Activities	-11,972	-12,297	-12,607	-12,867	-12,139	-12,279
Financing Cash Flow	-17,419	-16,308	-29,205	-18,615	-25,146	-30,185
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-679	-629	-35	-1,024	1,719	574
Net Cash Flow	2,834	4,197	-9,023	5,715	-7,483	10,357
Free Cash Flow	24,647	21,880	21,696	25,963	20,218	41,892
Free Cash Flow Growth	12.65%	0.85%	-16.43%	28.42%	-51.74%	87.91%
FCF Margin	11.07%	9.58%	9.25%	11.00%	9.04%	21.05%
Free Cash Flow Per Share	15.38	13.64	13.46	15.94	12.25	25.31
Levered Free Cash Flow	30,210	31,658	17,909	35,055	21,162	37,177
Unlevered Free Cash Flow	28,939	26,072	22,484	30,145	21,029	45,060

Updated Feb 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.