Meitav Investment House 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	843	256	130	74	-414
Depreciation & Amortization	46	45	88	84	85
Other Amortization	126	94	29	19	9
Loss (Gain) From Sale of Investments	-43	-45	-44	-24	-40
Loss (Gain) on Equity Investments	-1	27	21	24	7
Stock-Based Compensation	19	13	14	13	7
Other Operating Activities	93	15	8	32	33
Change in Accounts Receivable	-625	-899	53	-451	-467
Change in Accounts Payable	-634	-75	-86	-11	446
Change in Other Net Operating Assets	142	594	161	185	496
Operating Cash Flow	-34	25	374	-55	162
Operating Cash Flow Growth	-	-93.32%	-	-	-
Capital Expenditures	-4	-12	-10	-5	-8
Cash Acquisitions	-18	-	-	-	-3
Divestitures	-	1	-15	32	-
Sale (Purchase) of Intangibles	-59	-59	-46	-48	-81
Investment in Securities	-348	13	14	43	-16
Other Investing Activities	4	375	-8	-364	-10
Investing Cash Flow	-407	324	-58	-336	-121
Short-Term Debt Issued	-	-	33	-	3
Long-Term Debt Issued	531	185	151	927	384
Total Debt Issued	531	185	184	927	387
Short-Term Debt Repaid	-39	-240	-	-1	-
Long-Term Debt Repaid	-168	-308	-452	-433	-319
Total Debt Repaid	-207	-548	-452	-434	-319
Net Debt Issued (Repaid)	324	-363	-268	493	68
Issuance of Common Stock	496	-	141	-	-
Repurchase of Common Stock	-15	-	-	-	-
Common Dividends Paid	-208	-119	-20	-	-55
Other Financing Activities	-90	19	-146	-119	-27
Financing Cash Flow	507	-463	-293	374	-14
Net Cash Flow	66	-114	23	-17	27
Free Cash Flow	-38	13	364	-60	154
Free Cash Flow Growth	-	-96.43%	-	-	-
Free Cash Flow Margin	-1.89%	0.80%	27.72%	-5.03%	13.85%
Free Cash Flow Per Share	-0.48	0.17	4.64	-0.89	2.34
Cash Interest Paid	157	108	110	62	43
Cash Income Tax Paid	119	119	89	74	62
Levered Free Cash Flow	-133.25	296.78	170.3	-131.88	193.25
Unlevered Free Cash Flow	-6.38	413.65	267.8	-59.38	238.88
Change in Working Capital	-1,117	-380	128	-277	475

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