Ratio Energies - Limited Partnership (TLV:RATI)

TLV:RATI Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	125.29	139.44	126.82	149.55	77.44
Depreciation & Amortization	29.49	28.43	26.61	29.67	28
Loss (Gain) From Sale of Investments	-2.48	-2.65	1.86	3.41	14.42
Stock-Based Compensation	0.87	-	-	-	-
Other Operating Activities	20.75	9.23	31.08	6.82	7.48
Change in Accounts Receivable	9.29	-4.9	0.87	-17.39	-9.73
Change in Accounts Payable	-0.05	-0.04	0.08	0.07	0.02
Change in Other Net Operating Assets	-2.71	-10.3	-0.65	-4.17	9.09
Operating Cash Flow	180.45	159.22	186.67	167.97	122.44
Operating Cash Flow Growth	13.34%	-14.70%	11.13%	37.18%	212.18%
Capital Expenditures	-56.02	-40.56	-34.2	-28.53	-9.29
Investment in Securities	8.89	39.71	-9.52	-6.64	-22.62
Other Investing Activities	-15.7	-0.59	-24.53	19.25	-16.85
Investing Cash Flow	-62.83	-1.43	-68.25	-15.92	-48.76
Long-Term Debt Issued	7.62	24.72	5	20	90.77
Long-Term Debt Repaid	-18.92	-98.53	-72.49	-164.71	-116.23
Net Debt Issued (Repaid)	-11.3	-73.82	-67.49	-144.71	-25.45
Common Dividends Paid	-130	-60	-65	-25	-
Other Financing Activities	-	-	11.48	-13.92	-13.23
Financing Cash Flow	-141.3	-133.81	-121.01	-183.62	-38.69
Foreign Exchange Rate Adjustments	0.83	-0.12	-1.14	-2.55	0.61
Net Cash Flow	-22.85	23.85	-3.73	-34.13	35.6
Free Cash Flow	124.43	118.66	152.47	139.43	113.15
Free Cash Flow Growth	4.87%	-22.18%	9.35%	23.23%	-
Free Cash Flow Margin	44.96%	38.16%	49.97%	43.30%	46.28%
Free Cash Flow Per Share	0.11	0.11	0.14	0.12	0.10
Cash Interest Paid	-	51.79	56.75	62.35	69.68
Cash Income Tax Paid	-	33.52	13.49	12.53	-
Levered Free Cash Flow	96.58	65.61	118	74.05	101.32
Unlevered Free Cash Flow	121.43	96.32	156.08	107.65	133.35
Change in Working Capital	6.53	-15.23	0.3	-21.49	-4.9

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