AB Volvo (publ) (STO:VOLV.B)

AB Volvo Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	39,068	34,456	50,389	49,825	32,722	32,787
Depreciation & Amortization	10,120	10,085	9,342	8,691	8,084	7,399
Other Amortization	12,396	11,922	12,086	11,655	11,309	10,679
Loss (Gain) From Sale of Assets	-1,801	-1,801	-271	1,778	-232	-1,616
Asset Writedown & Restructuring Costs	1,479	1,479	548	3,217	1,336	482
Loss (Gain) From Sale of Investments	37	37	34	231	-109	15
Loss (Gain) on Equity Investments	1,630	1,630	2,166	2,368	1,333	67
Provision & Write-off of Bad Debts	2,291	2,291	1,764	1,398	4,260	534
Other Operating Activities	1,092	2,587	-1,316	3,265	3,214	770
Change in Accounts Receivable	-189	-2,289	4,009	209	-5,770	-2,062
Change in Inventory	-3,253	1,593	2,212	-7,434	-5,911	-12,287
Change in Accounts Payable	8,520	2,563	-6,778	-4,722	8,031	13,174
Change in Other Net Operating Assets	-19,923	-18,958	-27,741	-49,085	-25,023	-16,295
Operating Cash Flow	51,467	45,595	46,444	21,396	33,244	33,647
Operating Cash Flow Growth	21.83%	-1.83%	117.07%	-35.64%	-1.20%	9.92%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-16,959	-18,344	-13,892	-13,120	-20,456	-18,117
Sale of Property, Plant & Equipment	199	670	481	693	5,558	5,837
Cash Acquisitions	-6,896	-798	-3,006	-77	-265	-789
Divestitures	617	1,639	2,371	-2,268	153	22,773
Sale (Purchase) of Intangibles	-9,118	-7,786	-4,493	-5,278	-5,390	-3,722
Investment in Securities	-1,302	-2,137	-4,889	-1,235	-928	-7,384
Investing Cash Flow	-34,067	-27,478	-24,137	-21,565	-21,486	-1,489

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Long-Term Debt Issued	-	467,562	342,066	241,958	172,817	89,141
Long-Term Debt Repaid	-	-455,247	-327,245	-211,157	-138,836	-96,113
Net Debt Issued (Repaid)	5,397	12,315	14,821	30,801	33,981	-6,972
Common Dividends Paid	-5,084	-16,268	-15,251	-14,234	-13,218	-12,201
Other Financing Activities	-80	-83	-90	-512	-63	-763
Financing Cash Flow	-21,118	-25,387	-21,871	1,821	7,483	-57,555

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	1,389	-4,541	1,410	-2,211	2,520	2,316
Miscellaneous Cash Flow Adjustments	-73	1	-1	-1	-	1
Net Cash Flow	-2,402	-11,810	1,845	-560	21,761	-23,080

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	34,508	27,251	32,552	8,276	12,788	15,530
Free Cash Flow Growth	40.66%	-16.29%	293.33%	-35.28%	-17.66%	-4.80%
Free Cash Flow Margin	7.18%	5.69%	6.18%	1.50%	2.70%	4.17%
Free Cash Flow Per Share	16.97	13.40	16.01	4.07	6.29	7.64
Levered Free Cash Flow	24,309	44,598	31,538	29,925	2,196	29,748
Unlevered Free Cash Flow	25,414	45,735	32,533	30,978	2,949	30,477

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	1,464	1,458	1,244	1,675	856	854
Cash Income Tax Paid	12,108	11,507	18,439	20,807	11,614	9,651
Change in Working Capital	-14,845	-17,091	-28,298	-61,032	-28,673	-17,470

Data Source: S&P Global Market Intelligence Last updated: Oct 23, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 3, 2026

Data Sources Report a data error