NICE Ltd. Cash Flow Statement

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

Millions USD. 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	612.1	442.59	338.3	265.95	199.22
Depreciation & Amortization	199.04	205.02	167.36	176.55	184.09
Other Amortization	1.21	1.83	4.62	4.58	14.47
Loss (Gain) From Sale of Investments	-3	-9.86	14.75	8.32	11.87
Stock-Based Compensation	146.05	182.07	176.66	182.7	153.03
Other Operating Activities	11.25	-41.65	-82.21	-51.23	-27.09
Change in Accounts Receivable	-75.79	-61.03	-34.29	-129.71	-85.78
Change in Accounts Payable	-15.12	43.97	3.43	19.92	-0.39
Change in Unearned Revenue	-22.83	3.05	-45.95	6.42	30.77
Change in Other Net Operating Assets	-136.35	66.65	18.77	-3.79	-18.38
Operating Cash Flow	716.55	832.64	561.43	479.72	461.82
Operating Cash Flow Growth	-13.94%	48.31%	17.03%	3.88%	-3.85%
Capital Expenditures	-18.92	-34.96	-29.21	-31.89	-24.77
Cash Acquisitions	-856.09	-64.82	-415.19	-29.72	-142.8
Sale (Purchase) of Intangibles	-74.83	-64.81	-54.97	-50	-42.44
Investment in Securities	1,110	-232.82	205.78	-40.74	-51.48
Investing Cash Flow	159.96	-397.41	-293.58	-152.35	-261.5
Long-Term Debt Repaid	-460	-192.11	-2.63	-20.13	-177.31
Net Debt Issued (Repaid)	-460	-192.11	-2.63	-20.13	-177.31
Issuance of Common Stock	1.11	3.06	2.57	0.95	4.43
Repurchase of Common Stock	-488.91	-369.2	-288.44	-144.94	-73.18
Other Financing Activities	-36.47	101.64	-1.77	-0.38	-15.75
Financing Cash Flow	-984.27	-456.6	-290.27	-164.5	-261.82
Foreign Exchange Rate Adjustments	4.73	-6.91	2.64	-8.43	-2.11
Net Cash Flow	-103.03	-28.28	-19.78	154.44	-63.61
Free Cash Flow	697.63	797.68	532.23	447.82	437.05
Free Cash Flow Growth	-12.54%	49.88%	18.85%	2.47%	-4.18%
Free Cash Flow Margin	23.69%	29.16%	22.39%	20.53%	22.75%
Free Cash Flow Per Share	11.02	12.18	8.03	6.74	6.53
Cash Interest Paid	0.22	0.24	1.22	2.97	0.69
Cash Income Tax Paid	214.09	109.96	192.02	123.59	97.26
Levered Free Cash Flow	457.31	763.93	467.78	585.88	140.81
Unlevered Free Cash Flow	456.85	763.27	466.74	584.86	136.58
Change in Working Capital	-250.1	52.64	-58.05	-107.16	-73.78

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