Max Stock Cash Flow Statement

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

Millions ILS. 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	124.92	108.76	81.01	64.16	68.2
Depreciation & Amortization	92.7	88.69	76.93	64.83	52.43
Loss (Gain) From Sale of Assets	1.53	1.46	0.37	0.5	1.1
Stock-Based Compensation	0.1	0.19	-0.44	11.34	15.5
Other Operating Activities	26.05	10.55	11.21	2.33	5.75
Change in Accounts Receivable	-12.28	-13.65	-17.42	-6.14	-1.91
Change in Inventory	30.48	-96.15	14.79	54.3	-86.38
Change in Accounts Payable	19.73	10.08	41.47	4.41	-24.29
Change in Other Net Operating Assets	8.27	22.34	11.34	5.28	7.05
Operating Cash Flow	291.5	132.27	219.26	201.01	37.44
Operating Cash Flow Growth	120.39%	-39.68%	9.08%	436.94%	-76.60%
Capital Expenditures	-28.41	-43.97	-30.88	-26.75	-33.39
Sale of Property, Plant & Equipment	1.17	0.24	0.67	0.03	-
Cash Acquisitions	-	-	-	0.05	-
Investment in Securities	-	-	-	-	24.5
Other Investing Activities	-	-	0.26	0.03	-
Investing Cash Flow	-27.54	-44.15	-31.85	-26.65	-8.89
Short-Term Debt Issued	-	5.02	-	11	27.46
Long-Term Debt Issued	2.72	36.38	15.07	17	25
Total Debt Issued	2.72	41.4	15.07	28	52.46
Short-Term Debt Repaid	-0.84	-3.64	-5.61	-29.21	-
Long-Term Debt Repaid	-75.61	-81.78	-73.01	-67.24	-56.24
Total Debt Repaid	-76.45	-85.42	-78.62	-96.45	-56.24
Net Debt Issued (Repaid)	-73.73	-44.02	-63.55	-68.45	-3.78
Repurchase of Common Stock	-	-	-	-19.9	-
Common Dividends Paid	-110.01	-60	-60	-40	-70
Other Financing Activities	-15.53	-15.77	-15.56	-15.82	-22.68
Financing Cash Flow	-199.26	-119.8	-139.11	-144.17	-96.47
Foreign Exchange Rate Adjustments	0.01	-0.03	0.02	-	-
Net Cash Flow	64.7	-31.71	48.32	30.19	-67.92
Free Cash Flow	263.09	88.3	188.39	174.27	4.04
Free Cash Flow Growth	197.96%	-53.13%	8.10%	4210.29%	-97.16%
Free Cash Flow Margin	18.44%	6.63%	16.83%	16.62%	0.41%
Free Cash Flow Per Share	1.87	0.63	1.34	1.22	0.03
Cash Interest Paid	-	-	-	-	16.55
Cash Income Tax Paid	51.47	39.74	28.45	34.32	36.72
Levered Free Cash Flow	254.57	62.65	176.18	163.21	-11.23
Unlevered Free Cash Flow	277.11	81.85	193.37	175.14	-0.59
Change in Working Capital	46.2	-77.38	50.19	57.85	-105.54

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.